By Erwin Seba HOUSTON (Reuters) -Oil prices climbed more than 2% on Wednesday, driven by fears of lengthy production shutdowns in the U.S. offshore oil patch, which Hurricane Francine was barreling through on the way to landfall in Louisiana. Brent crude futures settled at $70.61 a barrel, up $1.42, or 2.05%, on Wednesday. U.S. crude …
US crude oil climbs more than $2 on fears of Hurricane Francine Read More »
By Edwin Waita NAIROBI (Reuters) – Workers at Kenya’s main international airport ended a day-long strike on Wednesday, a union official said, after they were assured by the government that a plan to lease the airport to an Indian company would only proceed with the union’s approval. The workers, blowing plastic trumpets and scuffling with …
Kenyan aviation workers end protest against India’s Adani Read More »
JOHANNESBURG (Reuters) -The South African rand held on to gains against the dollar on Wednesday after U.S. inflation data reinforced expectations that the Federal Reserve will opt for a smaller 25 basis point rate cut at its policy meeting next week. At 1545 GMT, the rand traded at 17.91 against the dollar, about 0.2% firmer …
South African rand holds gains after US inflation data Read More »
By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) – Ghana has raised the fixed farmgate price paid to cocoa farmers by nearly 45% to help boost their incomes and deter bean smuggling, Agriculture Minister Bryan Acheampong said on Wednesday. Reuters reported earlier this month that Ghana’s cocoa producer price review committee would raise the …
Ghana raises cocoa farmgate price by nearly 45% to boost farmers’ incomes Read More »
NAIROBI (Reuters) – Members of Kenya’s aviation workers’ union have agreed to resume work after spending the day on strike, the head of the country’s umbrella trade union organisation said on Wednesday. Francis Atwoli, secretary general of the Central Organisation of Trade Unions, said the aviation workers’ union and the government had agreed that no …
Kenya aviation workers’ union ends strike, union official says Read More »
JOHANNESBURG (Reuters) – South Africans asked to withdraw 4.1 billion rand ($230 million) from their pension funds in the first 10 days after a reform took effect on Sept. 1 allowing fund members to make partial withdrawals before retirement, the tax service said. The “two-pot” pension policy reform is expected to spur domestic demand in …
South Africans pull $230 million from pension funds in 10 days since reform took effect Read More »
JOHANNESBURG (Reuters) – South Africa’s largest listed property group Growthpoint Properties reported a 10% fall in annual distributable income on Wednesday hurt by high interest rates. Its distributable income per share (DIPS) – a primary measure of profit for real estate investment trusts (REITs) – fell to 141.9 South African cents per share in the …
Growthpoint Properties annual income slumps 10% on high interest rates Read More »
NAIROBI (Reuters) – The biggest union of Kenya’s aviation workers plans to go on strike on Wednesday to protest against a proposed deal for India’s Adani Group to lease the country’s main airport for 30 years in exchange for expanding it, a union official said on Tuesday. WHY IT’S IMPORTANT Kenya’s government has said the …
Kenya airports union workers say they will strike over planned airport leasing Read More »
By Georgina McCartney HOUSTON (Reuters) -Global oil benchmark Brent crude futures settled at their lowest since December 2021 on Tuesday, after OPEC+ revised down its demand forecast for this year and 2025, offsetting supply concerns from Tropical Storm Francine. Brent crude futures settled down $2.65, or 3.69%, at $69.19 a barrel. U.S. West Texas Intermediate …
Oil settles near 3-yr low on weak demand outlook Read More »
By Stephen Culp NEW YORK (Reuters) -The S&P 500 and the Nasdaq gained ground while Brent crude prices hit a 3-1/2-year low on Tuesday amid concerns over softening global demand a day ahead of key inflation data. Market participants were girding for the Labor Department’s consumer price index report, and the first debate between Vice …
S&P 500, Nasdaq rise, crude slides as CPI awaits Read More »
