Morning Biz News 03 March 2025: Market, Ports, Inflation & Crypto

Local Stock Market Update The Namibian Stock Exchange (NSX) saw a total trade volume of 31,856 shares on Friday, amounting to N$1.46 million across 19 transactions. Year-to-date, the market has recorded 9.9 million shares traded, totaling N$588.4 million over 799 deals. Exchange-Traded Products (ETPs) continue to gain traction, contributing N$12.1 million in trade value since the start of the year.

Major Investment in Durban Container Terminals South Africa’s Durban Container Terminals are set to receive over 100 new cargo-handling machines this year, including 20 straddle carriers for Pier 2 and nine rubber-tyred gantry cranes for Pier 1. Transnet Port Terminals has allocated a significant portion of its R3.4-billion fleet upgrade investment to these terminals, aiming to boost efficiency and streamline operations in one of Africa’s busiest ports.

Kenya’s Inflation Rises Again Kenya’s annual consumer inflation increased for the fourth consecutive month, reaching 3.5% in February, up from 3.3% in January, according to the country’s statistics office. Core inflation remained stable at 2.0% in February, while non-core inflation saw a significant jump to 8.2% from 7.1% in the previous month. Analysts are closely monitoring the impact of these rising costs on Kenya’s economic stability.

Bitcoin and Cryptos Surge Amid U.S. Strategic Reserve Plans Bitcoin surged 20% from last week’s lows, rallying alongside other major cryptocurrencies after U.S. President Donald Trump announced plans to establish a strategic reserve of digital assets. According to Yahoo Finance, Trump revealed in a Truth Social post that his January executive order would include Bitcoin, Ether, XRP, Solana, and Cardano in the U.S. reserve, sparking investor optimism in the crypto market.

Financial Indicators

• Currency Exchange Rates: The Namibia dollar trades at 18.68 against the US dollar, 19.40 against the Euro, and 23.52 against the British Pound.
• Commodities: Gold is valued at $2,856.91 per fine ounce, while Brent crude oil stands at $72.81 per barrel.
• Cryptocurrency: 1 Bitcoin is currently priced at $1,729,208.24.

Stay tuned for more financial updates and market trends on Biz News.

The post Morning Biz News 03 March 2025: Market, Ports, Inflation & Crypto first appeared on Future Media News.

The post Morning Biz News 03 March 2025: Market, Ports, Inflation & Crypto appeared first on Future Media News.