JOHANNESBURG (Reuters) -The South African rand was stable on Monday as investors awaited inflation data later this week for hints on the country’s future interest rate path. At 1502 GMT, the rand traded at 18.2975 against the dollar, not far from its previous close of 18.2925. South Africa’s inflation figures for June are due on …
South African rand stable, inflation data in focus Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigerian lawmakers on Monday set up a committee to investigate crude shortages to local refineries and importation of dirty fuels, issues at the heart of a rift between the Dangote Refinery and Nigeria’s downnstream oil regulator. The committee constituted by Nigeria’s lower parliament will investigate alleged importation of dirtier …
Nigeria investigates fuel imports after Dangote Refinery rift with regulator Read More »
By MacDonald Dzirutwe LAGOS (Reuters) – Nigeria’s Dangote refinery is in talks with Libya to secure crude for the 650,000 barrels per day (bpd) plant and will also seek Angolan oil, a senior executive said, as it seeks to overcome problems with domestic supplies. The $20 billion refinery, built by Africa’s richest man Aliko Dangote …
Nigeria’s Dangote refinery in talks with Libya to secure oil Read More »
JOHANNESBURG (Reuters) – South African budget fashion and homeware retailer Mr Price reported a 4.6% rise in first quarter retail sales on Monday as the eventual onset of cold weather in June drove pent-up demand for winter clothes and shoes. Mr Price, which also sells sports clothing and equipment, said retail sales in the 13 …
Mr Price sales spike on pent-up South African demand for winter clothes Read More »
JOHANNESBURG (Reuters) -South Africa’s Anglo American Platinum (Amplats) expects its demerger from parent company Anglo American to be completed next year and is planning a secondary listing in London, its CEO said on Monday. Amplats, which reported first half results, also said it had cut some 3,700 jobs to reduce spending ahead of the demerger. …
Amplats says on track to demerge in 2025, plans secondary London listing Read More »
By Ernest Scheyder and Pratima Desai SALMON-CHALLIS NATIONAL FOREST, Idaho (Reuters) – The only U.S. cobalt mine sits fallow in the northern Idaho woods, a mothballed hunk of steel and dirt that is too expensive for its owner to operate because Chinese rivals have flooded global markets with cheap supplies of the bluish metal used …
Western miners push for higher metals prices to ward off Chinese rivals Read More »
(Reuters) – The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley said. The tightness will hold for most of the third quarter, the bank said in a note dated on Friday, but equilibrium will return by the fourth …
Oil market likely to be in surplus next year, Morgan Stanley says Read More »
(Reuters) -South African petrochemicals company Sasol increased coal exports by 5% in the year to June 30, driven by improved freight rail performance and higher production at its Thubelisha colliery, it said on Monday. A production update from the world’s biggest producer of fuels and chemicals from coal and gas said that it exported 2.1 …
LAGOS (Reuters) – Nigeria’s Dangote refinery will hit production of 550,000 barrels per day (bpd) this year, equivalent to 85% of capacity, but it is having to increase crude imports due to insufficient domestic supplies, the plant’s CEO said on Saturday. Chief Executive Aliko Dangote said the 650,000-bpd capacity refinery, which is the largest in …
Nigeria’s Dangote says refinery will hit 550,000-bpd output this year Read More »
By Isla Binnie and Caroline Valetkevitch NEW YORK (Reuters) -World stock indexes fell on Friday as a global cyber outage rattled investors by disrupting operations across multiple industries, while the dollar climbed along with Treasury yields. The S&P 500 and Nasdaq registered their biggest weekly percentage declines since April. The outage hit services from airlines …
Stocks fall as global cyber outage weighs; dollar, yields rise Read More »
