By Camillus Eboh ABUJA (Reuters) – Nigeria’s oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday. Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries …
Nigeria’s oil output rises on improved security, Navy chief says Read More »
JOHANNESBURG (Reuters) -The South African rand held steady on Tuesday as global risk sentiment improved after tanking on Monday amid fears of a possible recession in the United States. At 1435 GMT, the rand traded at 18.5200 against the dollar, near its previous close of 18.5225. “The South African rand continues to face challenges today …
South African rand stable as risk sentiment improves Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – South Africa’s Nedbank Group reported an 8% rise in half-year profit on Tuesday, supported by lower impairment charges and solid growth in non-interest revenue (NIR). Nedbank upwardly revised its full-year forecast for NIR and new Chief Executive Jason Quinn told Reuters the bank should benefit as South Africa’s new …
Nedbank raises non-interest revenue growth guidance after solid first half Read More »
NAIROBI (Reuters) – Kenya’s Mobius Motors, which started making rugged, low-priced SUVs designed for Africa’s roads a decade ago, has decided to stop operating due to financial challenges, a company statement and a shareholder source said on Tuesday. Mobius, founded by a London-born investor who experienced the continent’s bumpy roads while working for a forestry …
Kenya’s Mobius, maker of rugged cars for African roads, calls it a day Read More »
By Sinéad Carew and Nell Mackenzie NEW YORK/LONDON (Reuters) -Equities suffered heavy losses around the globe on Monday as Wall Street added to a rout that started in Japan, while the dollar tumbled against the yen and nervous investors looked for signs of a recession in the United States. U.S. Treasury yields however regained ground …
Stocks sink with dollar, Treasuries volatile on recession fears Read More »
By Erwin Seba HOUSTON (Reuters) -Oil fell in volatile trade on Monday as a selloff continued on global stock markets, but the slide was limited by fears Iran’s retaliation for the assassination of a Hamas leader in Tehran may lead to a wider war in the Middle East. Brent crude futures settled down 51 cents, …
Oil falls as global equities selloff offsets rising Middle East tensions Read More »
By Hannah Lang and Saqib Iqbal Ahmed NEW YORK (Reuters) -A surge in the yen to a seven-month high led a broad dollar fall, as a slew of economic data last week raised the prospect of a U.S. economic downturn and bigger interest rate cuts from the Federal Reserve. The dollar index, which tracks the …
Dollar down as US rate cut bets rise, yen surges Read More »
(Reuters) -Oil production at Libya’s Sharara field, one of the country’s largest production areas has been reduced by 60,000 barrels a day, or about 20% of its capacity, due to ongoing protests in the area, two field engineers said on Monday. The field located in southwestern Libya and operated by a joint venture of Libya’s …
Libya’s Sharara oilfield output down 60,000 bpd – sources Read More »
ADDIS ABABA (Reuters) – Ethiopia has imported 14 million litres of cooking oil to ensure sufficient supplies of the basic commodity, its trade minister said, after the country’s central bank floated the national currency last week to help secure international support. The Ethiopian birr slipped against the dollar last week after the National Bank of …
Ethiopia imports cooking oil after currency float Read More »
By Patrick Werr CAIRO (Reuters) – Egypt’s stock market and currency slid on Monday, hit by a global equity sell-off and regional political tension and concerns about government finances, bankers and analysts said. Foreign investors sold Egyptian pound treasury bills and converted the proceeds to dollars to move to safer havens, the analysts and bankers …
Egypt stock market, currency slide as global selloff hits Read More »
