By Chuck Mikolajczak NEW YORK (Reuters) -Global stocks climbed on Tuesday and were set for a third straight session of gains, as investors remained optimistic the Federal Reserve would cut U.S. interest rates at its December meeting, while U.S. Treasury yields declined. On Wall Street, U.S. stocks closed higher, boosted by gains in Alphabet and …
Stocks advance, US yields retreat on heightened Fed cut expectations Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar slid on Tuesday as a series of mixed economic data, some of which was delayed and therefore dated, reinforced expectations that the Federal Reserve will cut interest rates next month. In afternoon trading, the euro was up 0.5% against the dollar at $1.1576, while sterling gained …
US dollar slumps as data backs Fed rate cut view; traders on yen alert Read More »
MILAN (Reuters) -Egyptian President Abdel Fattah el-Sisi met Eni CEO Claudio Descalzi to review the Italian group’s investments in the African country and discuss new initiatives, the energy company said on Tuesday. Eni, which is the operator of Egypt’s offshore gas field Zohr, has pledged to invest as much as $8 billion in Egypt. It …
Egypt’s president meets Eni CEO to discuss energy investments Read More »
DAKAR (Reuters) -Senegal’s finances have been thrown into crisis with the discovery last year of billions of dollars in debt hidden under the previous administration. Following is a timeline of how the West African country’s debt woes unfolded and efforts to address them: March 27, 2024 – Opposition candidate Bassirou Diomaye Faye, a former tax inspector …
Senegal’s hidden debt crisis and attempts to resolve it Read More »
KAMPALA (Reuters) -State-owned Uganda National Oil Company (UNOC) has identified nine potential oil wells in the Kasuruban block with “significant new crude oil deposits”, it said on Tuesday. The find potentially increases crude resources in Uganda’s Albertine rift basin where France’s TotalEnergies, China’s CNOOC and UNOC already operate two development fields that are expected to …
Uganda’s state oil company identifies ‘significant’ new crude deposits Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Tuesday, after investors took stock of a series of delayed economic data from the United States. As of 1432 GMT, the rand traded at 17.2350 against the dollar, roughly up 0.4% from Monday’s close. The dollar weakened about 0.3% against a basket of currencies after data showed …
South African rand strengthens against weaker dollar Read More »
By Elisha Bala-Gbogbo and Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s central bank left its main interest rate unchanged on Tuesday, saying it wanted inflation to fall further, but it lowered a deposit rate in a sign of confidence in the economic outlook. The decision came as a surprise as economists polled by Reuters had predicted a …
Nigeria’s central bank holds key rate, wants inflation to fall further Read More »
(Reuters) -Barrick Mining has agreed to a 244 billion CFA francs ($430 million) settlement with Mali, Bloomberg News reported on Tuesday, citing people familiar with the matter. The Canadian miner on Monday reached an agreement with Mali’s government to resolve all their disputes over the Loulo-Gounkoto gold mining complex after two years of negotiations. Barrick …
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s financial system remains resilient despite global geopolitical tensions and rising debt risks, the central bank said on Tuesday, as local markets recover from earlier volatility and fiscal conditions improve. Global markets have shown strength since June, driven by technology and artificial intelligence stocks, with the South African equity …
South Africa’s financial resilience persists on market rebound, says central bank Read More »
By Chris Takudzwa Muronzi HARARE (Reuters) -Caledonia Mining Corp will proceed with its Bilboes gold project after a feasibility study projected strong returns, it said on Tuesday of what is expected to become Zimbabwe’s largest gold mine. The company, which bought Bilboes in 2023, estimates peak funding at $484 million and total capital costs at …
Caledonia to proceed with Bilboes gold project in Zimbabwe Read More »
