South African rand weakens, interest rate decision ahead
At 0827 GMT, the rand traded at 17.9225 against the dollar , about 0.3% softer than its previous close.
Economists polled by Reuters expect the South African Reserve Bank (SARB) to cut its main interest rate by 25 basis points to 7.25% on Thursday.
South Africa's inflation stayed below the SARB's target range of 3% to 6% in April while the local currency has recovered from its recent losses to trade below 18 per dollar.
Central bank data earlier in the day showed South Africa's composite leading business cycle indicator rose 1.1% month on month in March.
On the stock market, the Top-40 (.JTOPI), opens new tab index was little changed.
South Africa's benchmark 2030 government bond was stronger in early trading, with the yield down 2.5 basis points at 8.865%.
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Air Canada flight attendants picket at airports; businesses seek government intervention
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No deal on Ukraine at Trump-Putin Alaska summit
Follow on Apple or Spotify. Listen on the Reuters app. Read the episode transcript. A highly anticipated Alaska summit between U.S. President Donald Trump and Russian President Vladimir Putin yielded no agreement to resolve or pause Moscow's war in Ukraine, although both leaders described the talks as productive before heading home. Plus, Trump says there are no imminent plans to penalize China for buying Russian oil. Listen to On Assignment podcast here. Sign up for the Reuters Econ World newsletter here. Listen to the Reuters Econ World podcast here. Find the Recommended Read here. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit to opt out of targeted advertising. Further Reading 'No deal until there's a deal': Trump-Putin talks yield no breakthrough on Ukraine Trump says no imminent plans to penalize China for buying Russian oil Our Standards:The Thomson Reuters Trust Principles.
Reuters
13 hours ago
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'No deal until there's a deal': Trump-Putin talks yield no breakthrough on Ukraine
ANCHORAGE, Alaska, Aug 15 (Reuters) - A highly anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin on Friday yielded no agreement to resolve or pause Moscow's war in Ukraine, though both leaders described the talks as productive. During a brief appearance before the media following the nearly three-hour meeting in Alaska, the two leaders said they had made progress on unspecified issues. But they offered no details and took no questions, with the normally loquacious Trump ignoring shouted questions from reporters. "We've made some headway," Trump said, standing in front of a backdrop that read, "Pursuing Peace." "There's no deal until there's a deal," he added. The talks did not initially appear to have produced meaningful steps toward a ceasefire in the deadliest conflict in Europe in 80 years, a goal Trump had set ahead of the summit. But simply sitting down face-to-face with the U.S. president represented a victory for Putin, who had been ostracized by Western leaders since Russia's full-scale invasion of Ukraine in 2022. Following the summit, Trump told Fox News' Sean Hannity that he would hold off on imposing tariffs on China for buying Russian oil after making progress with Putin. He has targeted India, another major buyer of Russian crude, with an additional 25% tariff on U.S. imports. "Because of what happened today, I think I don't have to think about that now," Trump said of Chinese tariffs. "I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now." Trump has also threatened sanctions on Moscow but has thus far not followed through, even after Putin ignored a Trump-imposed ceasefire deadline earlier this month. In the Fox News interview, Trump also suggested a meeting would now be set up between Putin and Ukrainian President Volodymyr Zelenskiy, which he might also attend. He gave no further details on who was organizing the meeting or when it might be. Putin made no mention of meeting Zelenskiy when speaking to reporters earlier. He said he expected Ukraine and its European allies to accept the results of the U.S.-Russia negotiation constructively and not try to "disrupt the emerging progress." He also repeated Moscow's long-held position that what Russia claims to be the "root causes" of the conflict must be eliminated to reach a long-term peace, a sign he remains resistant to a ceasefire. There was no immediate reaction from Kyiv to the summit, the first meeting between Putin and a U.S. president since the war began. When asked by Hannity what he would advise Zelenskiy, Trump said, "Gotta make a deal." "Look, Russia is a very big power, and they're not," Trump added. The war has killed or injured well over a million people from both sides, including thousands of mostly Ukrainian civilians, according to analysts. Zelenskiy has ruled out formally handing Moscow any territory and is also seeking a security guarantee backed by the United States. Trump said he would call Zelenskiy and NATO leaders to update them on the Alaska talks. As the two leaders were talking, the war raged on, with most eastern Ukrainian regions under air raid alerts. Governors of Russia's Rostov and Bryansk regions reported that some of their territories were under Ukrainian drone attacks. Ukraine's opposition lawmaker Oleksiy Honcharenko said on the Telegram messaging app, "It seems Putin has bought himself more time. No ceasefire or de-escalation has been agreed upon." The anticlimactic end to the closely watched summit was in stark contrast to the pomp and circumstance with which it began. When Putin arrived at an Air Force base in Alaska, a red carpet awaited him, where Trump greeted Putin warmly as U.S. military aircraft flew overhead. Putin is wanted by the International Criminal Court, accused of the war crime of deporting hundreds of children from Ukraine. Russia denies the allegations, and the Kremlin has dismissed the ICC warrant as null and void. Russia and the United States are not members of the court. The day before the summit, Putin held out the prospect of something Trump wants - a new nuclear arms control agreement to replace the last surviving one, which is due to expire in February. It was unclear if the issue was discussed on Friday. Zelenskiy, who was not invited to Alaska, and his European allies had feared Trump might sell out Ukraine by essentially freezing the conflict and recognizing - if only informally - Russian control over one-fifth of Ukraine. Trump had sought to assuage such concerns on Friday ahead of the talks, saying he would let Ukraine decide on any possible territorial concessions. "I'm not here to negotiate for Ukraine, I'm here to get them at a table," he said. Asked what would make the meeting a success, he told reporters: "I want to see a ceasefire rapidly ... I'm not going to be happy if it's not today ... I want the killing to stop." The meeting also included U.S. Secretary of State Marco Rubio; Trump's special envoy to Russia, Steve Witkoff; Russian foreign policy aide Yury Ushakov; and Foreign Minister Sergei Lavrov. Trump, who said during his presidential campaign that he would end the Ukraine war within 24 hours, conceded on Thursday it had proven a tougher task than he had expected. He had said if Friday's talks went well, quickly arranging a second, three-way summit with Zelenskiy would be more important than his encounter with Putin. Trump ended his remarks on Friday by telling Putin, "I'd like to thank you very much, and we'll speak to you very soon and probably see you again very soon." "Next time in Moscow," Putin responded. Trump said he might "get a little heat on that one" but that he could "possibly see it happening." Zelenskiy said ahead of Friday's summit that the meeting should open the way for a "just peace" and three-way talks that included him, but added that Russia was continuing to wage war. "It's time to end the war, and the necessary steps must be taken by Russia. We are counting on America," Zelenskiy wrote on Telegram.
