DUBAI (Reuters) -Egypt’s annual urban consumer price inflation jumped to a greater-than-expected 16.8% in May from 13.9% in April, data from the state statistics agency CAPMAS showed on Wednesday. CAPMAS said it was releasing inflation figures six days earlier than usual, due to the Eid al-Adha holiday that begins on Thursday. The median forecast of …
Egypt’s headline inflation jumps to 16.8% in May, CAPMAS says Read More »
KAMPALA (Reuters) -The Ugandan shilling was broadly stable against the dollar on Wednesday, although was under mild pressure as importers in the manufacturing and energy sectors sought foreign exchange, traders said. At 0845 GMT commercial banks quoted the shilling at 3,637/3,647, compared to Monday’s close of 3,635/3,645. Markets were closed on Tuesday for a national …
Ugandan shilling broadly stable, under mild pressure Read More »
(Corrects to say growth would reach 8% over the 2025-2030 period, not increase by 8% between 2025 and 2030 in paragraph 4) DAKAR (Reuters) -Chad’s national development plan seeks $30 billion in public and private investment as it pursues growth in areas including digitalisation and infrastructure, the Central African country’s Finance Minister Tahir Hamid Nguilin …
Chad seeks $30 billion investment for development plan Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose on Tuesday, rebounding from a six-week low against the euro, even as investors remained concerned about potential economic damage from the trade war waged by President Donald Trump’s administration. “We had a big selloff in the dollar and we have it bouncing back a …
Dollar pulls back from six-week low but tariff tensions persist Read More »
By Scott DiSavino NEW YORK (Reuters) – Oil prices climbed about 2% on Tuesday to a two-week high as persistent geopolitical tensions between Russia and Ukraine, and the U.S. and Iran looked set to keep sanctions on both OPEC+ members Russia and Iran in place for longer. Brent crude futures rose $1, or 1.5%, to …
Oil climbs 2% to 2-week high on geopolitical tensions Read More »
BENGHAZI (Reuters) -Libya’s eastern-based parliament voted on Tuesday to approve a budget for its development and reconstruction fund, a parliament spokesperson and member said, although it is unclear if the money will be forthcoming given the country’s divisions. The budget of 69 billion Libyan dinar ($12.71 billion) will be spread equally over three years, lawmaker …
Libya’s eastern-based parliament passed budget for its development fund Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Tuesday after first-quarter gross domestic product (GDP) data came in marginally better than expected but showed that the economy had stagnated. Africa’s most advanced economy eked out quarter-on-quarter growth of just 0.1%, as contractions in sectors like mining and manufacturing offset a strong performance by agriculture. At …
South African rand weakens after data shows GDP stagnates in first quarter Read More »
By Alessandro Parodi and Sfundo Parakozov JOHANNESBURG (Reuters) -South Africa’s high court on Tuesday dismissed a case brought by the Economic Freedom Fighters (EFF) party aimed at blocking a fuel tax increase proposed in last month’s budget, a party spokesperson told Reuters. The far-left opposition party had argued that the measure would disproportionately affect the …
South African court dismisses opposition party’s fuel levy challenge Read More »
DAKAR (Reuters) -Senegal plans to boost tax compliance to increase revenue and reduce reliance on financing from external sources like the International Monetary Fund, its Prime Minister Ousmane Sonko has said. The West African nation is engaging with the IMF to craft a resolution following a case of misreporting of debt and deficit levels, which …
Senegal aims to raise tax collection to cut reliance on external funding Read More »
JOHANNESBURG (Reuters) -Amazon has expanded its product offering in South Africa, launching non-perishable groceries, pet food and health supplements in hopes of winning over more customers. Amazon, which has been selling in South Africa for a year, hopes its expanded offering will make it a one-stop shopping destination. Takealot.com, owned by tech investor Naspers, is …
Amazon South Africa expands into groceries, pet food and health supplements Read More »
