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 »
By Camillus Eboh ABUJA (Reuters) – Nigerian communities are claiming 505 billion naira ($310 million) in damages from Shell, which they accuse of breaching an existing court order by striking a deal to sell its onshore assets in the Niger Delta, court papers showed on Friday. Shell is set to exit Nigeria’s onshore oil and …
Nigerian communities seek $310 million from Shell, want asset sale stopped Read More »
JOHANNESBURG (Reuters) -The South African rand firmed on Friday against a weaker dollar, as markets weighed up bets on the size of a rate cut expected in the world’s biggest economy next week. At 1539 GMT, the rand traded at 17.7275 against the dollar, about 0.2% firmer than its Thursday closing level. The dollar last …
South African rand firms, markets focus on expected Fed rate cut Read More »
By Marwa Rashad LONDON (Reuters) -Egypt has bought 20 cargoes of liquefied natural gas (LNG) via the first tender issued to cover its winter demand since 2018, securing full volumes it was seeking at smaller than expected premiums, trading sources told Reuters on Friday. The most populous Arab country has returned to being a net …
Egypt fully awards tender for 20 winter LNG cargoes, sources say Read More »
NAIROBI (Reuters) – A team of staff from the International Monetary Fund is visiting Kenya on a fact-finding trip, the IMF said late on Thursday, part of efforts to craft a way forward in the wake of deadly protests that scuppered the government’s planned tax hikes. President William Ruto abandoned this year’s finance bill in …
IMF staff in Kenya for fact-finding mission after protests Read More »
By Hani Amara, Yousef Saba and Ahmed Elumami ISTANBUL (Reuters) -Libya’s central bank, at the centre of a weeks-long crisis that has slashed oil output, remains cut off from the international financial system, its veteran governor who was removed by political factions in a contested move told Reuters on Thursday. Sadiq al-Kabir, speaking from self-imposed …
Libya still cut off from foreign banks, ousted central banker says Read More »
By Pete Schroeder (Reuters) -Wall Street eked out gains and gold surged to a record high on Thursday as investors awaited a Federal Reserve interest rate cut next week. Major U.S. stock indexes spent much of the day in mixed territory before closing higher, after a rate cut from the European Central Bank and slightly …
Wall Street ends higher, gold hits record ahead of rate cuts Read More »
Tripoli (Reuters) – The UN Libya mission said on Thursday that Libyan factions did not reach a final agreement in the talks aimed at resolving the central bank crisis that has slashed oil output and exports. The two-day consultations to solve the crisis hosted by UNSMIL were between delegates from the Benghazi-based House of Representatives, …
By Gertrude Chavez-Dreyfuss and Chibuike Oguh NEW YORK (Reuters) – The euro rose against the dollar on Thursday after the European Central Bank lowered interest rates and ECB president Christine Lagarde dampened expectations for another cut next month, saying the bank will let economic data dictate the next policy move. “We are going to decide …
Euro gains after ECB rate cut as Lagarde pushes back on October ease Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices rose over 2% on Thursday as producers assessed the impact on output in the U.S. Gulf of Mexico after Hurricane Francine tore through offshore oil-producing areas before being downgraded to a tropical storm. Over 730,000 barrels per day, or nearly 42%, of Gulf of Mexico oil output …
Oil rises 2% as storm batters US Gulf of Mexico production Read More »
