Reuters Africa Business

By Siyanda Mthethwa JOHANNESBURG (Reuters) -Walmart opened its first store in South Africa on Saturday, marking the U.S. retail giant’s debut on the African continent as it seeks a stake in a competitive market. More than a hundred shoppers queued for hours outside the store to take advantage of Walmart’s “Everyday Low Prices” and shop …

Walmart makes African debut with South African store launch Read More »

By Nellie Peyton JOHANNESBURG (Reuters) -The United Arab Emirates said on Saturday it will invest $1 billion to expand AI infrastructure and AI-enabled services across Africa, with the aim of helping countries meet national development priorities. UAE Minister of State Saeed Bin Mubarak Al Hajeri announced the “AI for development initiative” at the G20 leaders’ …

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By Stephen Culp NEW YORK (Reuters) -Wall Street stocks closed sharply higher on Friday as rising expectations of a December interest rate cut by the Federal Reserve offset concerns over lofty tech valuations. A broad rally started gathering momentum by late morning, pushing all three major U.S. stock indexes to substantial gains on the day. …

US stocks jump on Fed rate cut bets but lose ground on the week Read More »

By Divya Rajagopal and Portia Crowe TORONTO/DAKAR (Reuters) -Barrick Mining and Mali’s government have reached a verbal agreement in principle to resolve their dispute over the Loulo-Gounkoto gold mining complex, two sources familiar with the situation told Reuters on Friday. No agreement has yet been signed, the sources said. A spokesperson for Barrick Mining did …

Barrick Mining and Mali agree in principle to resolve dispute over gold mine Read More »

By Laura Matthews NEW YORK (Reuters) -The dollar weakened against the yen on Friday, after Japanese officials stepped up verbal intervention to stem the currency’s decline, even as the greenback broadly was headed for its biggest weekly rise in six weeks. Against other major currencies, the U.S. unit was well-bid, with the dollar index, hitting …

Dollar slips against yen but heads for broad weekly rise Read More »

By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% on Friday to settle at one-month lows as the U.S. pushed for a Russia-Ukraine peace deal that could boost global oil supplies, while uncertainty over U.S. interest rates curbed investors’ risk appetite. Brent futures fell 82 cents, or 1.3%, to settle at $62.56 per barrel, …

Oil prices settle down at lowest in a month as US seeks Russia-Ukraine peace deal Read More »