By Michel Rose and Ahmed Eljechtimi RABAT (Reuters) – Morocco agreed to buy high-speed trains from French company Alstom on Monday, one of a series of business deals signed during President Emmanuel Macron’s state visit to the kingdom as the two countries turn the page on years of diplomatic tensions. Paris and Rabat have had …
France’s Macron, Moroccan king cement reconciliation with business deals Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -Global stock indexes rose on Monday as investors awaited earnings reports this week from several of the biggest U.S. tech-related companies, while oil prices dropped 6% after Israel’s retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities. The Japanese yen fell to a three-month low against …
Stocks gain, oil falls 6%; big tech-related earnings on tap this week Read More »
MILAN (Reuters) – Egypt’s president met with Eni CEO on Monday to discuss moves aimed at supporting gas production, the Italian energy group said after the African country was forced to turn to the liquefied natural gas (LNG) market to cover domestic demand. The country had planned to become a major gas exporter after Eni …
Egypt President, Eni CEO discuss moves to support gas production Read More »
By Isaac Anyaogu LAGOS (Reuters) – Ghana could buy petroleum products from Nigeria’s Dangote Oil Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country’s oil regulator said on Monday. This could end monthly fuel imports from Europe of $400 million, Mustapha Abdul-Hamid, chairman of …
Ghana eyes fuel imports from Dangote oil refinery Read More »
JOHANNESBURG (Reuters) -South Africa’s rand edged lower on Monday, as investors await Wednesday’s mid-term budget review – the first under the coalition government formed in June. At 1501 GMT, the rand traded at 17.7075 against the U.S. dollar, down 0.2% from its previous close. Finance Minister Enoch Godongwana’s budget policy statement to parliament will include …
South African rand slips, with mid-term budget the week’s main focus Read More »
ABUJA (Reuters) – The central bank of Nigeria has signed an agreement with the International Finance Corp to expand local currency financing for Nigerian businesses and cut foreign exchange risks, the agencies said in a statement on Monday. The IFC, a World Bank Group member, aims to “significantly scale up” its financing in Nigeria, targeting …
Nigeria signs funding deal with IFC to boost naira currency financing Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s Pick n Pay reported a wider half-year loss on Monday, reflecting trading losses in its core supermarkets business alongside higher borrowing costs, but said its full-year performance would be stronger. The country’s third-biggest grocery retailer reported a loss before tax and capital items of 1.1 billion rand ($62 …
South Africa’s Pick n Pay posts wider loss but sees recovery ahead Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South African retailer Pick n Pay, which is listing its discount grocery chain Boxer in Johannesburg through an initial public offering, said on Monday that the base size of the IPO would be towards the upper end of its guidance. Pick n Pay previously said proceeds from the IPO could …
Boxer IPO in Johannesburg could raise close to $452 million for Pick n Pay Read More »
JOHANNESBURG (Reuters) – South African grocery retailer Pick n Pay will exit Nigeria by selling its 51% share of a joint venture as part of plans to restructure outside of its home market, CEO Sean Summers said on Monday. The retailer has two stores in Nigeria, having entered the market there less than five years …
By Florence Tan and Alex Lawler SINGAPORE/LONDON (Reuters) – Oil prices are expected to fall when trading resumes on Monday as Israel’s retaliatory strike on Iran over the weekend bypassed Tehran’s oil and nuclear infrastructure and did not disrupt energy supplies, analysts said. Brent and U.S. West Texas Intermediate crude futures gained 4% last week …
Oil prices likely to fall after Israel shows restraint in strikes on Iran Read More »
