Reuters Africa Business Archives - Page 351 of 921

Nigeria fines Meta $220 million for violating consumer, data laws

19 Jul 2024 19 Jul 2024

By Elisha Bala-Gbogbo and and MacDonald Dzirutwe ABUJA (Reuters) -Nigeria fined Meta Platforms $220 million, its competition watchdog said on Friday, after investigations showed data-sharing on social platforms violated local consumer, data protection and privacy laws. Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) said Meta appropriated the data of Nigerian users on its platforms …

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Dollar climbs for the week, cyber outage unsettles investors

19 Jul 2024 19 Jul 2024

By Chuck Mikolajczak NEW YORK (Reuters) -The dollar climbed on Friday and was set to snap a two-week streak of declines as a worldwide cyber outage that affected banks, airlines and broadcasters unnerved investors, although volatility in the currency markets was largely contained. A software update by global cybersecurity firm CrowdStrike crippled industries from travel …

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Oil settles at one-month low on Gaza ceasefire hopes

19 Jul 2024 19 Jul 2024

By Georgina McCartney HOUSTON (Reuters) -Oil prices settled over $2 lower on Friday at their lowest level since mid-June as investors eyed a possible ceasefire in Gaza, while a strengthened dollar drove values down further. Brent crude prices settled down $2.48, or 2.9%, to $82.63 a barrel. U.S. West Texas Intermediate crude futures dropped $2.69, …

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South African rand edges lower as global risk appetite wanes

19 Jul 2024 19 Jul 2024

JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Friday, weighed down by risk-off sentiment as a worldwide cyber outage cut across sectors and worried investors. At 1546 GMT, the rand traded at 18.27 against the dollar, down around 0.1% from its previous close. The dollar index, which measures the U.S. currency against six …

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Congo’s South Kivu governor suspends mining operations in province

19 Jul 2024 19 Jul 2024

KINSHASA (Reuters) – The governor of Democratic Republic of Congo’s South Kivu province has suspended all mining activities in the restive region and ordered companies and operators to leave mining sites, he said on Friday. Governor Jean-Jacques Purusi Sadiki said in a statement that the suspension until further notice was due to “disorder caused by …

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Service restored at South African lenders Capitec and Absa amid global cyber outage

19 Jul 2024 19 Jul 2024

By Nqobile Dludla JOHANNESBURG (Reuters) -Services of South African lenders Capitec Bank and Absa and airline Airlink have been fully restored after experiencing disruptions early on Friday, the companies said, as a software update wreaked havoc on computer systems globally. A software update by global cyberscurity firm CrowdStrike appeared to have triggered systems problems that …

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Angola central bank keeps interest rate steady, sees inflation easing

19 Jul 2024 19 Jul 2024

By Miguel Gomes LUANDA (Reuters) -Angola’s central bank kept its main interest rate at 19.5% on Friday, citing a potential slowdown in inflation and an improvement in the supply of essential goods in the near term. The Bank of Angola had raised its main rate by 50 basis points at its last monetary policy meeting …

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Nigeria’s unions, government agree new wage deal, averting strike

19 Jul 2024 19 Jul 2024

By Felix Onuah ABUJA (Reuters) -Nigeria’s main labour unions agreed on a new minimum wage of 70,000 naira ($44) a month on Thursday after talks with the government, ending months of deadlock and the threat of strikes. Africa’s most populous nation is grappling with the worst cost of living crisis in a generation, stoking fears …

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South Africa leader pledges to revive economy, include the poor

18 Jul 2024 18 Jul 2024

By Nellie Peyton and Wendell Roelf CAPE TOWN (Reuters) -President Cyril Ramaphosa pledged on Thursday to revive South Africa’s flagging economy and extend prosperity to the many left out of it, by resuscitating factories and farms, building roads and seizing the opportunities presented by green energy. In his first policy speech to a new parliament …

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Oil prices steady as US rate-cut hopes contend with economic slowdown signals

18 Jul 2024 18 Jul 2024

By Laila Kearney NEW YORK (Reuters) -Oil prices steadied on Thursday as investors wrestled with mixed signals about crude demand, with concerns about an economic slowdown in the U.S. contending with rising expectations the Federal Reserve would soon cut interest rates. Brent futures settled at $85.11 a barrel, rising 3 cents, while U.S. West Texas …

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