Reuters Africa Business

By Caroline Valetkevitch NEW YORK, Dec 8 (Reuters) – U.S. Treasury yields and the dollar gained on Monday as investors prepared for this week’s Federal Reserve meeting, with investors widely expecting an interest rate cut, while major stock indexes were lower. Investors also assessed the potential impact of a powerful magnitude 7.6 earthquake that shook …

US yields, dollar edge up; investors eye Fed rate cut this week Read More »

By Amanda Cooper and Gertrude Chavez-Dreyfuss LONDON/NEW YORK, Dec 8 (Reuters) – The U.S. dollar rose against major currencies on Monday in choppy trading ahead of a week packed with central bank meetings and headlined by the Federal Reserve, where an interest rate cut is all but priced in, but investors braced for signals of …

US dollar firms on expectations of limited Fed easing Read More »

By Georgina McCartney HOUSTON, Dec 8 (Reuters) – Oil prices slipped 2% on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine.  Brent crude futures were down $1.26, or 1.98%, at $62.49 a barrel, while …

Oil falls 2% as Iraqi oilfield production restored, Ukraine talks continue Read More »

By Ahmed Eljechtimi MARRAKECH, Dec 8 (Reuters) – Morocco will open a new deepwater Mediterranean port next year and another on the Atlantic in 2028, Equipment and Water minister Nizar Baraka said, as the North African country aims to replicate the success of Africa’s largest port, Tanger Med. Nador West Med, under construction on the …

Morocco to open two deepwater ports in 2026 and 2028, minister says Read More »

By Siyanda Mthethwa JOHANNESBURG, Dec 8 (Reuters) – South African supermarket retailer SPAR Group is negotiating the sale of its UK business as it narrows its focus to core markets and rolls out new growth formats, it said on Monday. The South African company, which owns several country licences of the Dutch SPAR group, has …

South Africa’s SPAR in talks to sell UK unit as focus shifts to core markets Read More »

JOHANNESBURG, Dec 8 (Reuters) – The rand was muted on Monday as traders assessed Moody’s decision to keep South Africa’s credit rating and outlook unchanged, ahead of key data releases that will give indications of demand and output trends at the start of the fourth quarter. At 1252 GMT, the rand traded at 16.9675 against …

South African rand softens after Moody’s keeps rating, outlook unchanged Read More »

JOHANNESBURG, Dec 8 (Reuters) – South Africa is working on ways to support its ferrochrome industry, state power utility Eskom said on Monday, as it announced an agreement with Samancor Chrome and the Glencore-Merafe Chrome Venture. Eskom said in a statement that the memorandum of understanding with the two companies followed constructive engagements on Friday …

South Africa is working on ways to help ferrochrome firms, Eskom says Read More »

CAPE TOWN, Dec 8 (Reuters) – South Africa’s legacy national oil company, PetroSA, has approved a deal to give Shell Offshore a 60% stake in its Block 2C, off the country’s west coast, a document seen by Reuters showed on Monday. If successfully concluded, the agreement will strengthen oil major Shell’s exposure to the Orange …

PetroSA approves Shell as majority partner in block offshore South Africa, document shows Read More »