By Joe Cash and Duncan Miriri BEIJING/NAIROBI (Reuters) -China will urge a summit of 50 African nations in Beijing this week to take more of its goods, before Western curbs kick in on its exports such as electric vehicles and solar panels, in exchange for more pledges of loans and investment. But the dozens of …
China to pitch green tech exports to African leaders as Western curbs loom Read More »
CAIRO (Reuters) – Egypt’s net foreign assets (NFAs) rose by $220 million in July, remaining positive for a third straight month after having been deeply negative for more than two years, central bank data showed. NFAs climbed to 644.8 billion Egyptian pounds at the end of July from 626.6 billion in June. This works out …
Egypt’s net foreign assets positive for third straight month in July Read More »
By Duncan Miriri NAIROBI (Reuters) -Chinese lenders approved loans worth $4.61 billion to Africa last year, marking the first annual increase since 2016, an independent study showed on Thursday. Africa secured more than $10 billion in loans a year from China between 2012-2018, thanks to President Xi Jinping’s Belt and Road Initiative (BRI), but the …
China’s lending to Africa rises for first time in seven years, study shows Read More »
(Reuters) – Libya’s Sarir, Messla and Nafoura oilfields have received instructions to resume production, engineers at the three fields told Reuters on Saturday, after a standoff between rival political factions shut most of the country’s oilfields. The resumption order was made by the fields’ operator, the Arabian Gulf Oil Company, which did not provide any …
Three Libyan oil fields receive instructions to resume production, engineers say Read More »
By Chibuike Oguh and Naomi Rovnick NEW YORK/LONDON (Reuters) -Global stocks edged higher in choppy trading on Friday, making it the fourth consecutive month of gains despite a bout of heavy selling in early August, buoyed by U.S. economic data that has helped the dollar snap a weeks-long losing streak. The U.S. personal consumption expenditures …
Stocks end turbulent month higher as US data sets stage for rate cut Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar gained on Friday after data showed a key inflation measure came in line with forecasts, while personal spending and income increased, supporting expectations the Federal Reserve will likely cut interest rates by a smaller 25 basis points next month, instead of 50 bps. Some market participants …
US dollar rises broadly as inflation data underpins smaller Fed cut Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil prices retreated on Friday as investors weighed expectations of a rise in OPEC+ supply starting in October, alongside dwindling hopes of a hefty U.S. interest rate cut next month, following data showing strong consumer spending. Brent crude futures for October delivery, which expire on Friday, settled $1.14 lower, or …
Oil settles $1 down as supply set to rise, uncertainty around Fed rate cuts Read More »
CAIRO (Reuters) -Libya’s National Oil Corporation said on Friday that recent oilfield closures have caused the loss of approximately 63% of the country’s total oil production, as a conflict between rival eastern and western factions continues. The North African country’s oil blockade has widened, with eastern leaders demanding western authorities back down over the replacement …
Libya’s oil production plunges 63% due to oilfield closures, NOC says Read More »
By Bhargav Acharya and Alexander Winning JOHANNESBURG (Reuters) -South Africa’s rand was stable on Friday against a buoyant dollar, after the local unit hit a fresh 13-month high earlier in the day supported by improved investor sentiment on signs the domestic economy is starting to gain momentum. At 1512 GMT, the rand was flat at …
South African rand hits new 13-month high on signs of economic turnaround Read More »
By Ahmad Ghaddar, Alex Lawler and Olesya Astakhova LONDON/MOSCOW (Reuters) – OPEC+ is set to proceed with a planned oil output hike from October, as Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand, six sources from the producer group told Reuters. Eight OPEC+ members are …
OPEC+ likely to proceed with planned output hike from October, sources say Read More »
