CAIRO (Reuters) – The Central Bank of Egypt CBE will leave its overnight interest rates unchanged when its monetary policy committee meets on Thursday as inflation continues to decline, a poll of analysts forecast. The CBE kept rates steady at its last two meetings, on July 18 and May 23, saying economic growth remained slow …
Egypt central bank seen holding interest rates steady: Reuters poll Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s Dangote Oil Refinery has begun processing gasoline after delays caused by recent crude shortages, an executive said on Monday. The $20 billion refinery on the outskirts of Lagos, built by Nigerian billionaire Aliko Dangote, began operations in January with output of products including naphtha and jet fuel. With …
Dangote Oil Refinery begins processing gasoline, NNPC to be sole buyer Read More »
By Ayman Al-Warfali BENGHAZI (Reuters) – Oil exports at major Libyan ports were halted on Monday and production curtailed across the country, six engineers told Reuters, amid a standoff between rival political factions over control of the central bank and oil revenue. Some output was being increased to feed local power generation, they said. Libya’s …
Oil exports remain halted at major Libyan ports, say engineers Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) – South African food producer RCL Foods said it will focus on providing affordable food to its consumers after reporting a 31% jump in full-year profit on Monday, as higher pricing offset the impact of weaker consumer demand. RCL Foods said its headline earnings per share – a widely used …
S.Africa’s RCL Foods targets affordability amid weak consumer demand Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana will increase the state-guaranteed price paid to its cocoa farmers by nearly 45% for the 2024/25 crop season, two sources with knowledge of the price review told Reuters, to help boost their incomes and deter bean smuggling out of the country. The world’s number two cocoa producer …
Ghana set to raise cocoa farmgate price by nearly 45%, sources say Read More »
By Nelson Banya and Tannur Anders JOHANNESBURG (Reuters) -South African state-owned logistics group Transnet made a larger loss than the previous year of 7.3 billion rand ($408.72 million) in the year to end-March 2024 as it battles litigation over pipeline charges, it reported on Monday. Debt-laden Transnet has struggled to provide adequate freight rail and …
S.Africa’s Transnet reports wider loss after pipeline lawsuit provision Read More »
By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Factories in the euro zone remained mired in contraction last month, surveys showed, with the data suggesting a recovery could be some way off but Asian and British manufacturers showed tentative signs of recovery. However, analysts say prospects of slowing U.S. growth, which is likely to lead …
Euro zone factories stuck in a rut as Asia shows tentative signs of recovery Read More »
JOHANNESBURG (Reuters) – South African manufacturing activity slumped in August, erasing the previous month’s gains and pointing to highly volatile business conditions, a Purchasing Managers’ Index (PMI) survey showed on Monday. The seasonally-adjusted PMI for the factory sector dropped to 43.6 points in August from 52.4 in July, falling well below the 50-point mark shows …
South African factory activity slumps in August – Absa PMI Read More »
(Reuters) – Sibanye Stillwater on Monday said it will report a half-year loss hurt by a 7.5 billion rand ($420 million) writedown on its U.S. assets reflecting sliding palladium prices. The South African miner expects to report a loss per share of between 2.508 rand and 2.772 rand for the six months to June 30 …
Sibanye flags loss after $420 million US asset writedown Read More »
By Angus McDowall (Reuters) -A struggle to control the Central Bank of Libya (CBL) has already sparked a blockade of oil production and it threatens the worst crisis in years for the major energy exporter, long torn between rival eastern and western factions. The standoff was triggered when western factions moved this month to oust …
Libya central bank showdown risks spiralling into wider crisis Read More »
