JOHANNESBURG (Reuters) -South Africa recorded foreign direct investment inflows of 11.7 billion rand ($661.46 million) in the first quarter of 2025, higher than inflows of 7.5 billion rand in the fourth quarter of last year, central bank data showed on Thursday. The South African Reserve Bank (SARB) said in its Quarterly Bulletin that the inflows …
South Africa records FDI inflows, portfolio outflows in Q1 Read More »
NAIROBI (Reuters) -International banks and investors can apply for a licence to operate in Ethiopia immediately, according to a central bank statement, capping the government’s drive to attract more overseas investment into the domestic banking sector. The East African nation, which struck a four-year $3.4 billion programme agreement with the International Monetary Fund last July, …
Ethiopia central bank says foreign banks can apply for licences Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar fell to multi-year lows against the euro and sterling on Wednesday but gained on the Japanese yen as traders evaluated expectations for Federal Reserve interest rate cuts and turned attention back to U.S. fiscal policies. Moves were relatively muted following a sharp drop in the greenback on …
Dollar lowest since 2021 against euro, gains on yen Read More »
(Corrects settlement price of WTI in second paragraph) By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose nearly 1% on Wednesday, recovering from a sharp slide early this week, as data showed relatively strong U.S. demand, and as investors assessed the stability of a ceasefire between Iran and Israel. Brent crude futures settled 54 cents …
JOHANNESBURG (Reuters) -The South African rand was steady on Wednesday as investors digested the fragile Israel-Iran ceasefire that brought relief to rattled markets, and braced for key economic data from the world’s largest economy. At 1501 GMT, the rand traded at 17.7825 against the dollar, a whisker away from Tuesday’s close. The greenback was also …
S African rand stable as Israel-Iran ceasefire holds, focus on key data Read More »
DUBAI (Reuters) -Egypt plans to import liquefied natural gas to cover demand from July 2025 to June 2026, the Egyptian cabinet said in a statement on Wednesday, as it ramps up purchases to meet power demand despite strained government finances. Reuters reported on June 12 that Egypt has reached agreements with several energy firms and …
Egypt to import LNG to cover demand from July 2025 to June 2026, cabinet says Read More »
By Ahmed Eljechtimi RABAT (Reuters) -Sino-Moroccan company COBCO said on Wednesday it had begun production at a plant for lithium-ion battery components in Jorf Lasfar, 125 kilometres (78 miles) south of Casablanca. COBCO is a joint venture between Moroccan investment fund Al Mada and CNGR Advanced Materials, a battery materials producer. Morocco’s proximity to Europe, automotive industry, free …
Sino-Moroccan COBCO begins producing EV battery materials Read More »
TRIPOLI (Reuters) -Libya’s National Oil Company (NOC) had signed a memorandum of understanding with Turkish state oil company TPAO to conduct a geological and geophysical study of four offshore areas, NOC said on Wednesday. “Discussions were also held regarding conducting a two-dimensional seismic survey (10,000 km long), and processing the data resulting from these surveys …
Libya, Turkey sign geological, geophysical MoU on four offshore areas, NOC says Read More »
NAIROBI (Reuters) -Burundi on Wednesday commissioned the first phase of a $320 million hydropower project financed by lenders including the European Investment Bank, the African Development Bank and the World Bank, according to a statement. Only 6% of the 13 million population have access to power in the small Central African nation, whose generation capacity …
Burundi commissions first phase of $320 million power project Read More »
By Emmanuel Bruce ACCRA (Reuters) -Ghana’s parliament approved a $2.8 billion debt restructuring deal late Tuesday with 25 creditor nations, including China and France, aiding disbursements under an IMF bailout programme to alleviate the country’s worst economic crisis in decades. The West African nation, the world’s second-largest cocoa producer, signed a memorandum of understanding with …
Ghana approves $2.8 billion debt relief deal with creditor nations Read More »
