By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar fell across the board on Wednesday after weaker-than-expected U.S. private payrolls numbers highlighted continued easing in the labor market and data showed the U.S. services sector contracted for the first time in about a year in May. U.S. private payrolls rose by only 37,000 jobs in …
Dollar falls after data disappoints; Trump calls for rate cut Read More »
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices settled down just over 1% on Wednesday after U.S. data showed surprisingly large build in gasoline and diesel inventories, swelling fuel supplies with OPEC+ planning more output and trade tensions clouding the energy demand outlook. Brent crude futures closed down 77 cents, or 1.2%, at $64.86 a …
Oil settles 1% lower after US data shows large builds in fuel stocks Read More »
(Reuters) -UAE-based International Resources Holding has agreed to buy a controlling stake in major tin producer Alphamin Resources for C$503 million ($367 million), it said on Wednesday, as the firm expands its presence in African mining. IRH, a unit of International Holding Co, entered into an agreement to buy a 56% stake in Alphamin from …
UAE firm IRH buys majority stake in Congo tin miner Alphamin Read More »
NAIROBI (Reuters) -The International Monetary Fund said on Wednesday it views Senegal’s plan to enhance tax compliance and cut reliance on external financing as a positive step, but it will have no bearing on the handling of a misreporting case. The West African nation, which is engaging with the IMF to find a resolution after …
IMF welcomes Senegal’s self-reliance plan, says no impact on misreporting case Read More »
JOHANNESBURG (Reuters) -The South African rand maintained early gains on Wednesday after a key parliamentary committee backed the long-delayed national budget, which has been tied up in political wrangling for months. At 1448 GMT, the rand traded at 17.7875 against the dollar, about 0.4% stronger than Tuesday’s closing level. A majority of members on the …
South African rand gains as parliamentary committee backs budget Read More »
CAIRO (Reuters) -Egypt’s net foreign assets (NFAs) fell by $1.5 billion in April, central bank data showed on Wednesday, retreating from March, when the approval of the fourth review of the country’s IMF programme sparked a jump. NFAs slid to the equivalent of $13.54 billion, from $15.08 billion at the end of March, according to …
Egypt’s net foreign assets retreat in April after March jump Read More »
(Removes reference to Shell loading from Otakikpo terminal in paragraph 4) By Isaac Anyaogu LAGOS (Reuters) -Nigeria is witnessing a significant shift in its oil and gas landscape as local companies expand their roles, driving a new phase of potential sectoral growth and innovation. Leading the charge are companies which bought onshore and shallow water …
Local firms drive new growth phase in Nigeria’s oil sector Read More »
By Libby George LONDON (Reuters) -Fitch downgraded Afreximbank’s credit rating to one notch above junk on Wednesday, with a negative outlook, citing high credit risks and weak risk-management policies. The one-notch downgrade to BBB- comes as the African lender battles to protect its loans from restructuring in Ghana, Zambia and Malawi, claiming that as a …
Fitch downgrades Afreximbank to one notch above ‘junk’ Read More »
ACCRA (Reuters) -Ghana’s consumer inflation slowed in May for the fifth month in a row to its lowest level since February 2022 as inflationary pressures ease across the board in the West African state, the country’s statistics agency said on Wednesday. Consumer inflation eased to 18.4.% year-on-year in May from 21.2% a month earlier, government …
Ghana consumer inflation slows in May to lowest level since February 2022 Read More »
(Reuters) -South African business confidence fell in the second quarter of 2025, pressured by trade uncertainties due to U.S. President Donald Trump’s “Liberation Day” tariffs and local logistical constraints, a survey showed on Wednesday. The business confidence index dropped to 40 points from 45 in the first quarter, according to a survey by the Rand …
South African business confidence slips in second quarter of 2025 on tariff woes Read More »
