NAIROBI (Reuters) -South Sudan and Sudan have made progress towards restarting the pumping of South Sudan’s crude oil through a pipeline running to a port in its neighbour, South Sudan’s finance minister and the president’s office said. WHY IT’S IMPORTANT The exports are a crucial source of revenue for South Sudan and Sudan takes a …
South Sudan says it is ready to restart pumping oil through Sudan Read More »
By Arunima Kumar (Reuters) -Oil prices were steady on Tuesday, after rising more than $1 in the previous session, as traders assessed concerns over U.S. production in the aftermath of Hurricane Francine and also the prospect of lower U.S. crude stockpiles. Focus was also on the U.S. Federal Reserve’s policy meeting that will conclude on …
Oil prices steady as US output concerns counter tepid Chinese demand Read More »
LONDON (Reuters) -The dollar traded near its lowest levels of the year on Tuesday, on the eve of the expected start to a U.S. easing cycle that markets are betting may begin with an outsized rate cut. The euro hovered around $1.1133 at 08:30 GMT, not far from the year’s high of $1.1201. The yen …
(Reuters) – OUTsurance Group , South Africa’s third-largest insurer by value, boosted its dividend payment by almost 50% on Tuesday after reporting full-year profit rose by a fifth, driven by growth in new business. Its normalised earnings per share (NEPS) for the year ended June 30 rose to 3.54 billion rand ($201.1 million) from 2.94 …
S.African insurer OUTsurance profit up 20%, boosts dividend Read More »
By Samuel Indyk and Rae Wee LONDON (Reuters) -European stocks were higher on Tuesday, while the U.S. dollar was pinned lower, a day before the U.S. Federal Reserve is expected to begin an easing cycle that could see policymakers deliver an outsized rate cut. Investors remain solely focused on Wednesday’s Fed decision as odds have …
Global shares rise, dollar pinned lower by Fed rate cut bets Read More »
JOHANNESBURG (Reuters) – The South African rand held steady in early trade on Tuesday, with investor focus on Wednesday’s U.S. Federal Reserve policy decision which could see it deliver a big interest rate cut. At 0750 GMT, the rand traded at 17.6250 against the dollar, not far from its Monday closing level of 17.6225. Markets …
South African rand steadies, markets focus on Fed rate cut Read More »
MOSCOW (Reuters) – Russia has tentatively agreed to the construction of a fuel pipeline in the Republic of Congo, according to a government decree published late on Monday. The pipeline will link the western port of Pointe-Noire to the capital Brazzaville. Moscow said a joint venture to construct the pipeline would be set up with …
Russia clears fuel pipeline construction in Congo Read More »
(Reuters) – South Africa’s consumer confidence recovered further in the third quarter to its best since 2019, helped by improved willingness to spend and hopes of an interest rate cut in September, survey data released on Tuesday showed. The consumer confidence index (CCI), sponsored by First National Bank (FNB) and compiled by the Bureau for …
S. Africa consumer confidence recovers to pre-pandemic levels, survey shows Read More »
NAIROBI (Reuters) – Kenya’s finance ministry forecasts a fall in the budget deficit to 3.5% of gross domestic product (GDP) in the 2025/26 fiscal year that starts next July, from 4.3% of GDP in the current fiscal year, a draft budget document showed. President William Ruto scrapped tax hikes worth more than 346 billion shillings …
Kenya forecasts budget deficit will fall to 3.5% of GDP next fiscal year Read More »
By Oliver Griffin BOGOTA (Reuters) -A ruling from a Colombian court that ordered the suspension of work at a major offshore natural gas well is a threat to the country’s energy security, industry groups the Colombian Petroleum Association (ACP) and Naturgas said on Monday. In a court order dated Sept. 11, a judge said activities …
