By Camillus Eboh ABUJA (Reuters) – Nigerian state oil firm NNPC Ltd on Monday increased the price of petrol by 11%, the second increase in two weeks and a day after it started purchasing the fuel from the giant Dangote oil refinery on the outskirts of Lagos. Nigeria expects the 650,000 barrels per day refinery …
Nigeria’s NNPC raises petrol prices again as Dangote fuel hits market Read More »
(This Sept. 13 story has been refiled to remove Mellon in BNY company name in paragraph 8) By Gertrude Chavez-Dreyfuss and Chibuike Oguh NEW YORK (Reuters) – The U.S. dollar fell on Friday to its lowest level in nearly nine months against the Japanese yen after media reports once again fueled speculation the Federal Reserve …
US dollar drops to near 9-month low versus yen amid talk of larger Fed rate cut Read More »
CAIRO (Reuters) – Commercial International Bank (CIB), Egypt’s biggest private bank, has appointed long-serving chairman and former CEO Hisham Ezz al-Arab as its chief executive, it said in a statement on Monday. Board member Neveen Sabbour will replaced him as chairman, the statement said. Ezz al-Arab replaces current CEO Hussein Abaza and will occupy the …
Egypt’s CIB appoints chairman Ezz al-Arab as CEO Read More »
NAIROBI (Reuters) – Kenya’s auditor general has started to examine the country’s debt to ascertain the amounts owed to various creditors, Finance Minister John Mbadi told Reuters on Monday. The East African nation’s debt stands at 10.5 trillion shillings ($81.71 billion) but an audit of the borrowings was one of the key demands of anti-tax …
Kenya begins national debt audit, finance minister says Read More »
NAIROBI (Reuters) – The Kenyan central bank’s Monetary Policy Committee will hold its rate-setting meeting on Oct. 8, the bank said on Monday. At its last meeting in August, the bank cut its benchmark lending rate by 25 basis points to 12.75% from 13.00% previously. (Reporting by George Obulutsa; Editing by Kim Coghill)
By Rajendra Jadhav MUMBAI (Reuters) -India has raised the basic import tax on crude and refined edible oils by 20 percentage points, the government said on Friday, as the world’s biggest edible oil importer tries to help protect farmers reeling from lower oilseed prices The move could lift edible oil prices and dampen demand and …
India sharply raises import tax on edible oils to support farmers Read More »
JOHANNESBURG (Reuters) – South Africa’s National Treasury said on Friday its plan to reduce expenditure and raise revenue, while implementing critical reforms, was in progress after credit rating agency Fitch affirmed its debt rating at “BB-” with a stable outlook. Fitch said that key drivers affecting its decision to keep South Africa below investment grade …
South Africa says reform agenda in progress after Fitch affirms ratings Read More »
By Isaac Anyaogu LAGOS (Reuters) – A Nigerian presidential committee announced on Friday that state-owned oil company NNPC Limited will distribute gasoline from the 650,000 barrels-per-day Dangote Refinery to the local market, ending the deadlock that had stalled distribution. The $20 billion refinery, built by Nigerian billionaire Aliko Dangote in Lagos, began processing gasoline last …
Nigeria’s NNPC to distribute Dangote Refinery gasoline under government agreement Read More »
By Laila Kearney NEW YORK (Reuters) -Oil prices fell on Friday as U.S. Gulf of Mexico crude production resumed following Hurricane Francine and rising data showed a weekly rise in U.S. rig count. Brent crude futures settled at $71.61 a barrel, down 36 cents, or 0.5%. U.S. West Texas Intermediate crude (WTI) settled at $68.65 …
Oil eases on resuming US output after storm, rising rig count Read More »
By Pete Schroeder (Reuters) -U.S. stocks advanced on Friday and gold continued to hit record highs as investors looked to whether the Federal Reserve might move more aggressively to cut rates at its policy meeting next week. Futures tied to the Fed’s policy rate now reflect about a 47% chance the Fed will cut its …
Prospect of steeper Fed cuts boosts stocks, drives record gold prices Read More »
