JOHANNESBURG (Reuters) -South Africa’s risk-sensitive rand, stocks and government bonds lost ground on Friday with the possibility of new developments in the United States’ trade deal negotiations leaving investors cautious heading into the weekend. At 0755 GMT, the rand traded at 17.7150 against the dollar, down 0.5% on the day. It lost about 0.7% on …
South African assets lose ground in cautious pre-weekend trade Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices rose 1% on Thursday as U.S. crude draws and expected cuts to Russian gasoline exports overwhelmed news that oil major Chevron will gain U.S. approval to renew production in Venezuela. Brent crude futures settled at $69.18 a barrel, up 67 cents or 0.98%. U.S. West Texas Intermediate crude …
Crude finishes with 1% gain on supply concerns and US crude draws Read More »
By Divya Rajagopal TORONTO (Reuters) -Canadian miner First Quantum Minerals is exploring a gold pre-payment deal from its Zambian mines to boost its balance sheet, CFO Ryan MacWilliam told analysts on Thursday, as the company looks at new options to raise funds beyond a stake sale. The company was exploring a minority stake sale of …
Canada’s First Quantum to explore gold pre-payment deal from Zambian mines Read More »
By Libby George and Rodrigo Campos LONDON/NEW YORK (Reuters) -The International Monetary Fund plans a mission to Senegal in August to address hidden debt and start talks on the “contours” of a new loan programme, it said on Thursday. Senegal is grappling with billions in debts hidden by the previous administration, which have prompted the …
IMF plans August mission to Senegal on hidden debt, new programme Read More »
MILAN (Reuters) -Italy’s Saipem is confident that a $20-billion liquefied natural gas project in Mozambique for TotalEnergies will restart by the end of the summer, the CEO of the energy contractor said on Thursday. Covered by force majeure since 2021 following insurgent attacks, the Mozambique LNG project includes developing the Golfinho and Atum natural gas …
Italy’s Saipem sees Mozambique LNG project restarting by end of summer Read More »
ADDIS ABABA (Reuters) -Ethiopia’s state-owned Ethio Telecom reported sharply higher annual profit on Thursday, driven by an expansion of its network and more customers. CEO Frehiwot Tamiru said pretax profit for the year ended June leapt more than 80% year-on-year to about 76 billion birr ($550 million). The company, which the government is privatising as …
Ethio Telecom’s full-year pretax profit up more than 80% Read More »
By Robert Harvey and Libby George LONDON (Reuters) -Trading house BB Energy has filed a case against South Sudan in London for failing to deliver oil owed under a pre-payment deal, according to court filings and a company spokesperson. One of the poorest countries in the world, South Sudan has endured two civil wars in …
South Sudan faces London court case over oil-backed loan Read More »
(Reuters) -South Africa’s Kumba Iron Ore’s mineral sales rose 3% during the first half of the year, helping to offset inflation-related cost increases, following an improvement in rail freight and port operations, it said on Thursday. In a trading update ahead of the release of its half-year results on July 29, the Anglo American unit …
Kumba’s iron ore sales up 3% on better rail and port services Read More »
LUANDA (Reuters) -Angola’s oil-backed loans owed to China will drop to around $7.5 billion to $8.0 billion by the end of the year, the director of the country’s debt management office said, as the government moves to reduce its reliance on resource-backed financing. “All debt collateralised by oil revenues is concentrated in agreements with China, …
Angola expects oil-backed China loans to drop to $7.5 billion to $8 billion by year-end Read More »
JOHANNESBURG (Reuters) -The South African rand slipped in early trade on Thursday after a week of gains, dragged down by an uptick in the dollar and a weaker global gold price. At 0715 GMT, the rand traded at 17.58 against the dollar, down 0.4% on Wednesday’s closing level. The dollar was up 0.1% against a …
