(Reuters) – The executive board of the International Monetary Fund approved the first review of Ethiopia’s $3.4 billion lending programme, the fund said on Friday, paving the way for a $340.7 million disbursement. The East African nation secured the four-year financing program from the IMF in July after carrying out a series of reforms like …
IMF approves $341 million for Ethiopia’s first loan program review Read More »
By Stephen Culp NEW YORK (Reuters) -Tech stocks powered Wall Street stocks to a higher close and crude prices posted their biggest weekly drop in a month on Friday as investors looked past mixed earnings and focused on solid Netflix results and Beijing’s policy steps to boost Chinese demand. Gold, meanwhile, muscled past the $2,700 …
U.S. stocks post sixth straight weeks of gains, gold hits all-time high Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil futures fell on Friday, declining more than 7% on the week after data showed China’s economic growth slowed and investors digested a mixed Middle East outlook. Brent crude futures fell $1.39, or 1.87%, to $73.06 a barrel. U.S. West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or …
Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook Read More »
(Reuters) -Togo’s transport ministry suspended the ride-hailing app Yango owned by Russia’s tech giant Yandex, over security concerns just months after it began operating in the West African nation. In a statement on Thursday, the ministry said that Yango began operating in June without authorization and in violation of the country’s procedures. The ministry said …
JOHANNESBURG (Reuters) -South Africa’s rand firmed against a weaker dollar on Friday, ahead of a domestic inflation reading next week which could provide clues on the central bank’s rate-cutting path. At 1400 GMT, the rand traded at 17.57 against the dollar, about 0.6% stronger than its previous close. The currency is still down about 1% …
South African rand firms as focus shifts to inflation print next week Read More »
By Camillus Eboh ABUJA (Reuters) – A Nigerian court on Friday adjourned the trial of detained Binance executive Tigran Gambaryan after it was stalled because he could not appear in court due to illness. Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, has been in detention in Nigeria since late February …
Nigerian court adjourns trial of Binance executive due to illness Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South African click-and-collect company Pargo is exploring an expansion into the rest of Africa, its CEO said in an interview, betting on e-commerce growth on the continent. Africa is forecast to surpass half a billion e-commerce users by 2025, having shown a steady 17% compound annual growth rate of online …
South African click-and-collect firm Pargo considers continent-wide expansion Read More »
NAIROBI (Reuters) – The Kenyan shilling was unchanged against the dollar on Friday and will likely remain at the same levels in the next week, one foreign exchange trader said. The East African currency traded at 128.50/129.50 against the dollar at 0700 GMT, LSEG data showed, the same as Thursday’s closing rate. The shilling has …
By Tarek Amara TUNIS (Reuters) – Tunisia’s central bank will no longer have the exclusive power to adjust interest rates or foreign exchange policy, and must only take such action in consultation with the government, but it will be allowed to finance the treasury, a bill proposed by lawmakers showed on Friday. The step is …
By Karen Brettell and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar surged to a fresh 11-week high on Thursday after data showed U.S. retail sales rose in September, reinforcing expectations that the Federal Reserve will pursue modest interest rate cuts over the next year and a half as the world’s largest economy remained …
US dollar buoyed by retail sales data, euro falls as more cuts underway Read More »
