By Riham Alkousaa BERLIN (Reuters) -Germany has awarded a tender to buy at least 259,000 metric tons of green ammonia between 2027 and 2033 to UAE-based Fertiglobe, marking the first in a round of global tenders to import green hydrogen derivatives needed for decarbonisation. Europe’s biggest economy is seeking to expand the use of green …
Germany awards tender to Fertiglobe for green ammonia from Egypt Read More »
JOHANNESBURG (Reuters) -The South African rand extended its gains on Thursday after U.S. inflation unexpectedly fell last month, fuelling bets that the Federal Reserve may cut interest rates in September. At 1521 GMT, the rand traded at 18.0050 against the dollar, 0.6% stronger than its previous close. The dollar index was last down 0.6% against …
South African rand extends gains after U.S. inflation data Read More »
LAGOS (Reuters) – Nigeria’s central bank will do whatever is necessary to tame double-digit inflation but expects price pressures to moderate and interest rates to drop in the not-too-distant future, Central Bank of Nigeria (CBN) governor said on Thursday. Inflation, at 33.95% in May, and a weaker currency have helped fan a cost-of-living crisis in …
Nigeria central bank will act as needed to tame inflation, says governor Read More »
LUSAKA (Reuters) – Zambia’s Maamba Collieries will build a 300 megawatt (MW) coal-fired power plant costing an estimated $400 million over a two-year period from August 2024, its local shareholder ZCCM-IH said in a statement. Zambia has been importing and rationing electricity after a devastating drought hit hydropower generation, the main source of power for …
Zambia mining firm to build 300 MW coal-fired power plant Read More »
LUSAKA (Reuters) – China’s JCHX Mining plans to invest $300 million to breathe new life into Zambia’s Lubambe Copper Mines which it recently acquired, Zambia’s state mining investment unit, ZCCM-IH said on Thursday. JCHX will invest in the Lubambe operations and extend the life of the copper mine, ZCCM-IH, the local partner, said. The Shanghai-listed …
Zambia says China’s JCHX will invest $300 million in Lubambe copper mine Read More »
JOHANNESBURG (Reuters) -South Africa’s Pick n Pay will issue 252.2 million new shares at 15.86 rand per share in a rights offer to raise 4 billion rand ($221 million), it said on Thursday as the country’s third biggest grocery group looks to reduce its debt. Pick n Pay, which has 2,279 stores across South Africa …
South Africa’s Pick n Pay prices rights issue at 32.48% discount Read More »
LONDON (Reuters) – An escalation in geopolitical conflicts is the biggest risk to the global economy, according to central bank reserve managers, who are generally positive about the world’s economic outlook, according to an annual survey released on Thursday. The UBS Asset Management survey of 40 leading central banks that manage more than $15 trillion, …
Global reserve managers upbeat on growth but worry about politics Read More »
By Karen Brettell (Reuters) -The dollar dipped on Wednesday after Federal Reserve Chair Jerome Powell indicated that the U.S. central bank is getting closer to cutting interest rates but wants to see further declines in inflation. It comes before consumer price index (CPI) data on Thursday is expected to show that headline prices eased on …
Dollar dips as Powell remains cautious before CPI data Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil prices settled higher on Wednesday after a jump in U.S. refining activity last week drove a larger-than-expected decline in gasoline and crude inventories, but gains were capped due to minimal supply disruptions from Hurricane Beryl. Brent futures settled up 42 cents, or 0.5% at $85.08 a barrel. U.S. West …
Oil settles higher on hopeful demand outlook as US oil stocks sink Read More »
CAPE TOWN (Reuters) – Mali’s ruling military junta and Russia’s state nuclear company Rosatom signed three cooperation deals and discussed projects including a Russian-designed low-power nuclear power plant, Rosatom said on Wednesday. Rosatom has been on a charm offensive in Africa for years, seeking to drum up business by signing cooperation agreements with countries across …
Mali junta, Russian state nuclear firm sign cooperation deals Read More »
