By Scott DiSavino NEW YORK (Reuters) -Oil prices held at a 14-month low on Thursday as worries about demand in the U.S. and China and a likely rise in supplies out of Libya offset a big withdrawal from U.S. inventories and a delay to output increases by OPEC+ producers. Brent futures were down 1 cent …
Oil prices hold at 14-month low as demand worries offset big US storage withdrawal Read More »
By Duncan Miriri NAIROBI (Reuters) – The impact of global warming is costing African nations up to 5% of their economic output, the United Nations climate chief said on Thursday, calling for more investments to help adapt to climate change. The 54-nation continent, which has borne the brunt of climate change despite releasing far less …
Climate change costs Africa up to 5% of GDP, UN climate head says Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana invited holders of roughly $13 billion of its international bonds to swap their holdings for new instruments on Thursday, more than two months after reaching a preliminary restructuring agreement with two bondholder groups. Bondholders have until Sept. 30 to accept the offer though those who agree to do …
Ghana launches restructuring offer for $13 billion of its bonds Read More »
CAIRO (Reuters) – Egypt’s central bank as expected left its overnight interest rates on hold on Thursday, saying inflation pressures had subsided but that economic growth had softened. The lending rate remained at 28.25%, while the deposit rate stood at 27.25%, the bank said in a statement. It was the third time that it left …
Egypt’s central bank leaves overnight interest rates steady Read More »
JOHANNESBURG (Reuters) – Chinese-founded e-commerce retailer Shein has divided opinion with its first physical pop-up store in South Africa that lured bargain-hunters and spurred a tax change after rivals said the competition was unfair. The store that opened in Mall of Africa, north of Johannesburg, for just over a week in August attracted long queues …
Shein’s pop-up store ruffles South African retail sector Read More »
JOHANNESBURG (Reuters) -The South Africa rand extended gains on Thursday as risk sentiment improved on bets for a deeper interest rate cut this month in the United States, analysts said. At 1502 GMT, the rand traded at 17.73 against the dollar, 0.81% firmer than its closing level on Wednesday. The rand strengthened against a weaker …
By Ayman Al-Warfali BENGHAZI (Reuters) -Libyan oil exports remained largely halted on Thursday, shipping data showed, but some tankers were being allowed to load crude from storage, with output still curtailed amid a political standoff over the central bank and oil revenue. Oil tanker Kriti Samaria will be allowed to enter Libya’s Zueitina port on …
Libya oil exports still mostly shut, some ships loading from storage Read More »
By Sinéad Carew and Tom Wilson NEW YORK/ LONDON (Reuters) -MSCI’s global equities gauge fell for a third day in a row and oil prices lost ground on Wednesday, while safe-haven assets such as U.S. Treasuries and Japan’s yen were in demand as mixed batch of economic data fueled concerns about slowing growth. Crude oil …
Stocks fall with safe haven assets in demand, growth concerns in focus Read More »
MONROVIA (Reuters) – Liberia conditionally lifted a shutdown order on China Union’s iron ore Bong Mines, the government said in a statement on Wednesday. The West African country’s Environmental Protection Agency (EPA) shut down operational activities on Aug. 28, saying the company had violated environmental regulations. The Liberian government said China Union had requested a …
Liberia conditionally lifts shutdown order on China Union iron ore Bong Mines Read More »
By Erwin Seba HOUSTON (Reuters) – Crude futures fell by more than $1 a barrel on Wednesday in see-saw trading, with traders worried about demand in coming months as crude producers offered mixed signals about supply increases. Brent crude futures settled down $1.05, or 1.42%, to $72.70 a barrel. U.S. West Texas Intermediate crude futures …
Crude futures settle down by more than $1/bbl on demand fears Read More »
