Reuters Africa Business

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes mostly inched lower and U.S. copper prices jumped to a record high on Tuesday as U.S. President Donald Trump announced he would impose a 50% tariff on imported copper, broadening his global trade war. Trump also said levies on semiconductors and pharmaceuticals were coming soon. U.S. …

Stocks slip, US copper jumps as Trump plans tariff on imported copper Read More »

By Scott DiSavino NEW YORK (Reuters) -Oil prices edged up to a two-week high on Tuesday on forecasts for less U.S. oil production, renewed Houthi attacks on shipping in the Red Sea, worries about U.S. tariffs on copper and technical short covering. Brent crude futures rose 57 cents, or 0.8%, to settle at $70.15 a …

Oil edges up to two-week high on lower US output forecast, renewed Red Sea attacks Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s Competition Commission has dropped its opposition to Vodacom’s plan to buy a 30% stake in fibre group Maziv after agreeing revised terms with the parties. That could increase the chances of the Competition Appeal Court approving the bid by South Africa’s biggest mobile operator to expand its fibre …

South African watchdog drops opposition to Vodacom’s Maziv deal Read More »

JOHANNESBURG (Reuters) -South African President Cyril Ramaphosa pushed back against U.S. President Donald Trump’s imposition of a 30% tariff from next month, saying that it is based on an inaccurate view of the two countries’ trade and that negotiations with the U.S. would continue. Trump ramped up the trade war he started in April by …

South Africa says Trump’s 30% tariff is based on inaccurate trade view Read More »

JOHANNESBURG (Reuters) -The South African rand was steady on Tuesday, buoyed by hopes the country could still salvage a less damaging trade deal with the United States after President Donald Trump extended a tariff deadline to August 1. Trump informed Pretoria and more than a dozen other trading partners of sharply higher trade levies in …

South African rand steady on hopes for further trade talks with the US Read More »

TRIPOLI (Reuters) -Oil Majors BP and Shell have made agreements with Libya’s National Oil Corp (NOC) to conduct studies for hydrocarbon exploration and development at three Libyan oilfields, NOC said on Monday. Libya, Africa’s second-largest oil producer and a member of the Organization of the Petroleum Exporting Countries, has suffered from disruptions to its oil …

BP, Shell to study hydrocarbon potential at three Libyan oilfields Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes declined while the dollar strengthened on Monday as U.S. President Donald Trump unveiled sharply higher U.S. tariffs on goods from Japan, South Korea and other countries in the latest development in the U.S. trade war. Longer-dated U.S. Treasury yields rose. Trump on Monday began telling trade …

Stocks sell off, dollar gains as Trump plans 25% tariffs on Japan, South Korea Read More »

By Camillus Eboh ABUJA (Reuters) -Nigeria’s data protection agency has fined Multichoice Nigeria Limited, Africa’s biggest pay television company, 766 million naira ($501,340) for violating the country’s data protection law, a spokesperson said. MultiChoice, which operates pay-TV services DSTV and GOTV in Nigeria, has faced legal and regulatory hurdles in the past two years from …

Nigerian agency fines Multichoice 766 million naira for data privacy breaches Read More »