By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 2% on Wednesday on a bigger-than-expected weekly drop in U.S. crude stockpiles and as a weaker U.S. dollar overshadowed signs of lower economic growth in China. Brent futures rose $1.35, or 1.6%, to $85.08 a barrel by 1:33 p.m. EDT (1733 GMT), while U.S. West …
Oil prices gain 2% on big US storage withdrawal, weaker US dollar Read More »
By Camillus Eboh ABUJA (Reuters) -Nigeria’s President Bola Tinubu has asked the Senate to approve an additional spending of 6.2 trillion naira ($4 billion) to plug shortfalls in this year’s national budget, according to a letter read to lawmakers on Wednesday. Tinubu also sought to impose a one-off windfall tax on banks’ foreign exchange gains, …
Nigeria’s president asks lawmakers to approve extra $4 billion in spending Read More »
JOHANNESBURG (Reuters) -The South African rand dropped sharply on Wednesday, as investors dumped riskier assets globally because of worries over the state of the world economy and geopolitical risks after U.S. presidential candidate Donald Trump’s remarks on Taiwan. At 1519 GMT, the rand traded at 18.2350 against the dollar, more than 1% weaker than its …
South African rand falls sharply on global risk-off mood Read More »
By Nyasha Chingono HARARE (Reuters) – Zimbabwe’s government will stick to what it promised when it launched a new currency in April by ensuring it remains fully backed by reserves, the central bank governor told Reuters on Wednesday, adding that was the only way to build trust. The new currency, called Zimbabwe Gold or ZiG …
Zimbabwe will stick to promises to build trust in new currency, central bank chief says Read More »
By America Hernandez PARIS -TotalEnergies has sold its minority share in a major Nigerian onshore oil joint venture to Mauritius-based Chappal Energies for $860 million, the French energy group said on Wednesday. CEO Patrick Pouyanne said in February that TotalEnergies was looking to exit its 10% stake in the Shell Petroleum Development Company of Nigeria …
TotalEnergies sells Nigerian onshore oil assets to Chappal Energies for $860 million Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana cocoa production reached 429,323 metric tons – or less than 55% of the average seasonal output – as harvesting neared completion at the end of June, data from marketing board Cocobod showed on Tuesday. Disastrous harvests in Ghana and Ivory Coast – the world’s biggest producer – …
Ghana cocoa output is half of average with harvest almost complete Read More »
By Isla Binnie and Caroline Valetkevitch NEW YORK (Reuters) -World stock indexes mostly rose and the U.S. dollar gained against the yen on Tuesday after solid U.S. retail sales data was taken as supporting prospects the Federal Reserve will ease rates to rein in inflation while aiming to avoid a recession. Data showed retail sales …
Stocks rise, dollar flat on solid data and rate cut prospects Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled more than 1% lower on Tuesday, the third straight day of losses, on worries of a slowing Chinese economy crimping demand, though declines were stemmed by a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September. Brent futures closed …
Oil prices decline over 1% on Chinese demand jitters Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar rose on Tuesday, on track for a second straight daily gain, after a reading of retail sales proved to be firmer than expected, but was still soft enough to keep expectations intact for a rate cut from the Federal Reserve this year. U.S. retail sales were unchanged …
ABUJA (Reuters) – A Nigerian court on Tuesday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to Oct. 11, after the court’s annual holiday that starts next week. Binance and executives Tigran Gambaryan, a U.S. citizen and head of financial crimes compliance, and British-Kenyan national Nadeem Anjarwalla, a regional manager …
Nigerian judge adjourns Binance money laundering trial to October Read More »
