RABAT (Reuters) -Wafa Assurance has agreed to acquire a majority stake in Egypt’s Delta Insurance from its current owner Egypt Kuwait Holding Company, as it targets an expansion of its operations in the Egyptian market, it said on Monday. Wafa Assurance, a subsidiary of Morocco’s top lender Attijariwafa Bank, offered a price of 40 Egyptian …
Morocco’s Wafa Assurance to take over Egypt’s Delta Insurance Read More »
By Maxwell Akalaare Adombila DAKAR (Reuters) -Ghana is losing billions of dollars in revenue annually to smuggling from its booming artisanal gold mining sector with much of the gold flowing to the United Arab Emirates, according to a report by nonprofit Swissaid. The report found a staggering 229 metric ton trade gap, equivalent to $11.4 …
Ghana has lost $11 billion to gold smuggling, links to UAE, report finds Read More »
By Isaac Anyaogu LAGOS (Reuters) -The Dangote Oil Refinery will in August begin directly begin supplying fuel to retail stations, manufacturers, telecoms firms, and other large users, a move that could enhance supply but puts it in direct competition with local fuel traders. Africa’s biggest refinery with 650,000 bpd capacity began processing gasoline for …
Nigeria’s Dangote refinery to supply fuel directly, challenging local traders Read More »
By Mohamed Ezz CAIRO (Reuters) -Egyptian fertilizer producers were forced to halt operations on Friday due to a drop in natural gas imports from Israel, industry sources told Reuters. They said major Israeli gas fields had suspended operations following Israel’s military strikes against Iranian nuclear facilities and missile factories. In response, an emergency plan was …
Egypt halts fertilizer production as Israeli gas disruptions deepen energy strain Read More »
NAIROBI (Reuters) -The Kenyan shilling held steady against the dollar on Monday, data from London Stock Exchange Group showed. At 0740 GMT, commercial banks quoted the shilling at 129.00/129.50, unchanged from its close on Friday. (Reporting by Elias Biryabarema; Editing by Bate Felix)
CAIRO (Reuters) -Egypt signed a financial closure deal on Sunday with Norwegian renewable energy developer Scatec for a 1 gigawatt solar plant, which will allow the project to move into its construction phase, the Egyptian cabinet said. The project will involve a $600 million investment, a cabinet statement said. The government also signed a power …
Egypt signs financial closure deal with Norway’s Scatec for 1 GW solar plant Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices jumped on Friday and settled 7% higher as Israel and Iran traded air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East. Brent crude futures settled at $74.23 a barrel, up $4.87, or 7.02%, after earlier soaring over 13% to an …
Oil settles up 7% as Israel, Iran trade air strikes Read More »
By Chibuike Oguh and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar advanced against major currencies, including the euro and yen, on Friday as markets grabbed safe-haven assets as geopolitical tensions in the Middle East following an Israeli attack on Iran. Israel launched a barrage of strikes across Iran on Friday, attacking nuclear facilities and …
US dollar lifted by safe-haven bids as MidEast conflict escalates Read More »
LONDON (Reuters) -Brazil, Egypt, Mexico are among seven middle-income countries chosen by multilateral lender the Climate Investment Funds to tap a $1 billion programme to cut emissions from their industrial sectors. Along with Namibia, South Africa, Turkey and Uzbekistan – all chosen from 26 applicants – the group will now work with investors to come …
Brazil, others to tap $1 billion industry decarbonisation programme Read More »
By Sfundo Parakozov, Colleen Goko and Alessandro Parodi JOHANNESBURG (Reuters) -Foreign investors have pulled $3.7 billion out of South African equities since October in the longest such streak of outflows in five years, a report showed, as the continent’s biggest equity market struggles to attract international portfolio flows. International investor confidence in stocks listed in …
S.Africa stocks suffer $3.7 billion losing streak from foreign investors Read More »
