Case for an interest rate hike has weakened, but some still expect it

Author: news24.comPublished on: July 13, 2026Country: South Africa
Business & Economy
Case for an interest rate hike has weakened, but some still expect it

The case for an interest rate hike has weakened, but some analysts still expect an increase. The South African central bank's upcoming decision is closely watched, with inflation and economic growth at the center of the debate. Financial markets are divided on the outcome of this meeting.

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Navy dismantles 48 illegal refineries, arrests 91 suspects in anti-oil theft crackdown
Crime & LawBusiness & EconomyNigeria
Kingsley Omonobi

Navy dismantles 48 illegal refineries, arrests 91 suspects in anti-oil theft crackdown

The Nigerian Navy dismantled 48 illegal refinery sites and recovered approximately 4.698 million litres of stolen crude oil and illegally refined petroleum products during the second quarter of 2026. Over 91 suspects were arrested for crude oil theft, pipeline vandalism, and militancy in the Niger Delta. Operations under Operation Delta Sentinel led to the interception of several vessels, including tankers MKPODU, WESTAF, and STELIOS K, linked to the theft of more than 900 metric tonnes of suspected stolen crude. Navy Director of Information Captain Abiodun Folorunsho noted that these results coincide with the NUPRC announcement that Nigeria's crude production reached 1.735 million barrels per day in June 2026, representing 104% of its OPEC quota.

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