CAIRO (Reuters) -Egypt hiked prices on fuel products on Friday by up to almost 15%, state media reported, marking the first increase in 2025 as the government seeks to reduce fuel subsidies as required by the International Monetary Fund’s (IMF) $8 billion support package. The increases of between 11.76% and 14.81% on a wide range …
ABIDJAN (Reuters) – Ivory Coast, the world’s biggest cocoa producer, could take measures to make the product more expensive if tariffs proposed by U.S. President Donald Trump go into effect, the West African country’s agriculture minister said on Thursday. The Trump administration last week announced tariffs of 21%, the highest in West Africa, on Ivory …
Ivory Coast threatens more expensive cocoa in response to US tariffs Read More »
By Shariq Khan (Reuters) -Oil prices settled more than $2 per barrel lower on Thursday, wiping out the last session’s rally, as investors reassessed a planned pause in sweeping U.S. tariffs and focus shifted to a deepening trade war between Washington and Beijing. U.S. West Texas Intermediate crude futures fell $2.28, or 3.7%, to settle …
Oil settles down over 3% as investors reassess Trump’s tariff flip Read More »
By Alun John, Chibuike Oguh NEW YORK/LONDON (Reuters) -The U.S. dollar fell against its major peers on Thursday, hitting a 10-year low against the safe-haven Swiss franc, as markets digested President Donald Trump’s dramatic reversal on tariffs. Trump stunned financial markets on Wednesday by walking back steep duties on trading partners that had gone into …
Dollar hits 10-year low against Swiss franc as markets digest trade war drama Read More »
JOHANNESBURG (Reuters) -South Africa’s rand stumbled on Thursday on global market jitters while stocks jumped, as investors digested U.S. President Donald Trump’s announcement of an immediate 90-day tariff pause for many countries. At 1703 GMT, the rand traded at 19.5125 against the U.S. dollar, about 1% weaker than its previous close. The dollar last traded …
South African rand stumbles, stocks soar as markets digest tariff pause Read More »
By Colleen Goko JOHANNESBURG (Reuters) – Pressure from U.S. aid freezes and global trade tension is unlikely to result in widescale credit downgrades in Africa, Fitch Ratings said on Thursday. The impact of tariffs on Africa is limited, Fitch said, due to the region’s export composition and weaker integration into global supply chains compared to a …
African credit ratings can absorb aid cuts and trade strains, Fitch says Read More »
ABUJA (Reuters) – The Nigerian and Ghanaian currencies are expected to be broadly stable in the next week to Thursday thanks to central bank support, while the Ugandan and Zambian currencies could fall, traders said. NIGERIA Nigeria’s naira is seen holding steady as central bank dollar sales counteract pressure from foreign investors trying to pull …
AFRICA-FX-Nigeria and Ghana currencies seen stable on central bank support Read More »
JOHANNESBURG (Reuters) – South Africa’s manufacturing output fell 3.2% year on year in February after falling by a revised 3.2% in January, statistics agency data showed on Thursday. Factory production rose 0.3% month on month after rising by a revised 0.4% in January. (Reporting by Tannur Anders; Editing by Alexander Winning)
KAMPALA (Reuters) – The Ugandan shilling firmed against the dollar on Thursday, as fears about the potential impact of U.S. President Donald Trump’s tariffs eased after he paused them for 90 days, traders said. At 0903 GMT commercial banks quoted the shilling at 3,680/3,690, compared to Wednesday’s close of 3,700/3,710. (Reporting by Elias Biryabarema; Editing …
(Reuters) – Kenya’s shilling gained ground against the dollar on Thursday, after U.S. President Donald Trump’s unexpected decision to temporarily suspend most of his recently imposed tariffs, traders said. At 0752 GMT, commercial banks quoted the shilling at 129.30/80 per dollar, compared with Wednesday’s close of 129.50/130.00, data from the London Stock Exchange Group showed. …
