JOHANNESBURG (Reuters) -The South African rand was steady on Wednesday after statistics agency data showed the country’s year on year inflation rate remained unchanged in February. At 1506 GMT, the rand traded at 18.1325 against the dollar, near its previous close of 18.1350. Investor focus is on the U.S. Federal Reserve, which is widely expected …
South African rand steady after local inflation, Fed in focus Read More »
(Reuters) – ArcelorMittal South Africa said on Wednesday it is in talks with the government and other parties for funding that could delay the planned closure of its long steel operations. The steelmaker said on February 28 that it would cease long steel production of fencing material, rail, rods and bars by April this year …
ArcelorMittal South Africa is in talks to defer long steel plant closure Read More »
By Juliette Jabkhiro and Florence Loeve PARIS (Reuters) – A dozen anti-graft campaigners have filed a complaint against logistics group Bollore and its former CEO with the French financial prosecutor, accusing them of using connections and influence-peddling to secure lucrative African port concessions. The complaint is the first step towards a possible criminal case in …
Anti-graft groups target Bollore Group over old Africa assets, demand restitution Read More »
KIGALI (Reuters) – Rwanda’s economy grew 8.9% in 2024 compared with 8.2% the previous year, the country’s statistics office said on Wednesday, driven by good harvests, and a robust performance in the industrial and service sectors. The economy expanded 8% in the fourth quarter of the year, said Ivan Murenzi, director general of the National …
Rwanda’s economy grew 8.9% in 2024, stats office says Read More »
By Francesca Landini and Robert Harvey MILAN (Reuters) – Vitol will buy stakes in West African oil and gas assets from Italy’s Eni, bolstering the global commodity trading house’s position in the upstream sector, as it seeks to reinvest the huge profits it has been generating since 2022. The commodity trader will acquire an interest …
Vitol snaps up West Africa assets from Eni, strengthening upstream presence Read More »
JOHANNESBURG (Reuters) – South African retail sales rose 7.0% year on year in January after rising by a revised 3.2% in December, Statistics South Africa figures showed on Wednesday. Retail sales rose 1.2% month on month in January. (Reporting by Bhargav Acharya; Writing by Sfundo Parakozov; Editing by Alexander Winning)
NAIROBI (Reuters) – The Kenyan shilling remained stable on Wednesday compared with the previous session, with traders forecasting gains in the coming days due to expected inflows from Kenyan Diaspora. At 0825 GMT commercial banks quoted the shilling at 129.20/45, same level as Tuesday’s close. (Reporting by Elias Biryabarema; Editing by Bate Felix)
KAMPALA (Reuters) – The Ugandan shilling was steady in early trade on Wednesday, drawing some support from inflows of hard currency from exporters of coffee and other commodities, traders said. At 0820 GMT commercial banks quoted the shilling at 3,660/3,670 same level as Tuesday’s close. (Reporting by Elias Biryabarema; Editing by Bate Felix)
By Stephen Culp NEW YORK (Reuters) -Wall Street ended sharply lower and gold surged to record highs on Tuesday as the U.S. Federal Reserve convened for its two-day monetary policy meeting while economic uncertainty mounted. In the Middle East, a round of Israeli missile attacks on the Gaza Strip killed over 400 people, feeding investor …
US stocks slide as Fed convenes; euro gains as Germany passes debt reform Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin discussed moves to end the three-year-old war in Ukraine, which could result in a possible easing of sanctions on Russian fuel exports. Putin agreed to Trump’s proposal that Russia and Ukraine cease …
Oil prices ease as Ukraine peace talks offset Mideast instability worries Read More »
