Reuters Africa Business

CAIRO (Reuters) – Libya’s two legislative bodies agreed on Tuesday to appoint jointly a central bank governor, potentially defusing a battle for control of the country’s oil revenue that has slashed production. The House of Representatives based in Benghazi, in eastern Libya, and the High State Council in Tripoli in the west signed a joint …

Libya factions agree to appoint central bank governor in bid to ease crisis Read More »

By Felix Onuah and Liz Lee BEIJING/LAGOS (Reuters) -China vowed to encourage its more “powerful” companies to invest in Nigeria, which in turn said it was open to Chinese companies building factories and developing its energy and mineral resources, after the two nations’ leaders met in Beijing. China welcomed Nigeria to its e-commerce and logistics …

China pledges to encourage investment in Nigeria Read More »

ADDIS ABABA (Reuters) -Ethiopian Airlines said on Tuesday it had suspended flights to neighbouring Eritrea because its bank account there was frozen. The carrier’s CEO Mesfin Tasew told a news conference that the Eritrean Civil Aviation Authority had blocked money transfers from Ethiopian Airlines’ bank account in the Eritrean capital city Asmara. Eritrea had previously …

Ethiopian Airlines says it halts Eritrea flights after account frozen Read More »

By Sinéad Carew and Yoruk Bahceli (Reuters) -MSCI’s gauge of global equities fell sharply on Tuesday, with Wall Street stocks taking their biggest hit since early August while U.S. Treasury yields fell after manufacturing data spurred worries about the economy. Investors were also waiting anxiously for the monthly U.S. jobs report due later in the …

Equities sell off sharply, Treasury yields drop with economic data in focus Read More »

By Saqib Iqbal Ahmed and Amanda Cooper NEW YORK (Reuters) – The dollar rose to a two-week high against the euro on Tuesday as traders braced for a data-heavy week, including Friday’s U.S. payrolls report that could shape the path of interest rate cuts from the Federal Reserve. Investor focus this week will squarely be …

Dollar rises as traders eye data-heavy week; yen strengthens Read More »

By Arathy Somasekhar (Reuters) -Oil prices settled nearly 5% down on Tuesday at their lowest levels in nearly nine months on signs of a deal to resolve a dispute that has halted Libyan crude production and exports. Brent crude futures closed down $3.77, or 4.9%, at $73.75 a barrel, their lowest level since Dec. 12. …

Oil slumps about 5% as end to Libyan dispute in sight Read More »

JOHANNESBURG (Reuters) -The South African rand weakened on Tuesday after data showed the country’s second-quarter economic growth was slightly weaker than expected. At 1537 GMT, the rand traded at 17.9725 against the dollar, about 0.9% softer than its previous close. Gross domestic product expanded 0.4% in quarter-on-quarter seasonally-adjusted terms in April to June, below the …

South African rand weakens after Q2 GDP data Read More »