Reuters Africa Business Archives - Page 15 of 692

Global shares edge higher, US yields fall as strong earnings allay election worries

24 Oct 2024 24 Oct 2024

By Chibuike Oguh NEW YORK (Reuters) -Global shares edged higher in choppy trading on Thursday, snapping three straight sessions of losses, while U.S. Treasury yields and strong corporate results allayed worries over upcoming U.S. elections and interest rate cuts. Tesla soared nearly 22% after CEO Elon Musk provided on Wednesday a forecast for robust car …

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Euro, yen climb as dollar rally takes a breather

24 Oct 2024 24 Oct 2024

By Chuck Mikolajczak NEW YORK (Reuters) -The euro and Japanese yen strengthened on Thursday as the U.S. dollar paused after rallying to a nearly three-month high, with the greenback only briefly moving off earlier lows as data supported views for slower rate cuts by the Federal Reserve. Weekly initial jobless claims fell to 227,000, below …

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Oil prices ease on possible new Middle East ceasefire talks

24 Oct 2024 24 Oct 2024

By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% in volatile trade on Thursday on reports the U.S. and Israel will try to restart talks on a possible ceasefire in Gaza. Brent futures settled 58 cents, or 0.8%, lower at $74.38 a barrel, while U.S. West Texas Intermediate crude (WTI) slipped 58 cents, …

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Putin says existing BRICS infrastructure is enough for cross-border payments

24 Oct 2024 24 Oct 2024

KAZAN, Russia (Reuters) – Cross-border payments for trade between BRICS countries are experiencing problems, but there are no plans to create a special system because the existing infrastructure is sufficient, Russian President Vladimir Putin said on Thursday. Delays in payments for trade with Russia’s major partners such as China or Turkey where banks are under …

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South Sudan official says to resume pumping oil through Sudan in a few days

24 Oct 2024 24 Oct 2024

(Reuters) – South Sudan will resume pumping crude oil for export through a port in neighbouring Sudan within a few days, a South Sudanese government official told Reuters on Thursday, following repairs to a key pipeline ruptured during fighting in Sudan. War broke out between Sudan’s army (SAF) and the paramilitary Rapid Support Forces (RSF) …

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IMF says size of Egypt’s loan programme is still appropriate

24 Oct 2024 24 Oct 2024

WASHINGTON (Reuters) – The International Monetary Fund said on Thursday that the size of Egypt’s $8 billion loan programme is “still appropriate”, and that it will assess as a priority how effective the country’s social protection programmes are. Egypt’s President Abdel Fattah al-Sisi warned on Sunday his country may be forced to re-evaluate its expanded …

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Huawei Cloud sees fast business growth in South Africa

24 Oct 2024 24 Oct 2024

JOHANNESBURG (Reuters) – Huawei Cloud’s business in South Africa has grown fast over the past five years and it plans to launch more cloud solutions to expand market share to boost revenue, a company executive said on Thursday. Increased demand for faster computing from South African firms and the government has attracted big cloud operators …

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South African rand firms; platinum group metals stocks soar

24 Oct 2024 24 Oct 2024

JOHANNESBURG (Reuters) – South Africa’s rand gained against a weaker dollar on Thursday while local platinum group metals (PGMs) producers’ shares soared over concerns about supply sanctions on top palladium producer Russia. At 1520 GMT, the rand traded at 17.6825 against the dollar, about 0.6% stronger than its previous close. “The rand is trading higher …

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Saipem about to start Namibia drilling project for Galp, CEO says

24 Oct 2024 24 Oct 2024

MILAN (Reuters) – Saipem is about to start work on deep water drilling in Namibia for Portugal’s Galp Energia, the chief executive of the Italian energy contractor said on Thursday. In early 2024 Galp carried out tests at its Mopane-1X and Mopane-2X wells and estimated in April that the Mopane field could hold at least …

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Uganda’s currency seen gaining while Ghana’s could drop

24 Oct 2024 24 Oct 2024

KAMPALA (Reuters) – Uganda’s currency is seen strengthening against the dollar in the next week to Thursday, while Ghana’s could weaken and Kenya’s and Nigeria’s are expected to be broadly unchanged, traders said. UGANDA Uganda’s shilling is seen trading with a firming bias in the coming week, helped by hard-currency inflows from charities and commodity …

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