(Reuters) – RwandAir expects Qatar Airways to finalise its purchase of a major stake in the central African country’s carrier as early as next month, chief executive Yvonne Makolo told the Financial Times. “It’s been going on for a while, we have been discussing it for almost five years. So, now, we’re really at the …
RwandAir says Qatar Airways close to acquiring stake, FT reports Read More »
By Elisha Bala-Gbogbo ABUJA (Reuters) – Nigeria’s annual inflation rose to a new 28-year high of 33.95% in May, official data showed on Saturday, worsening hardships that have fuelled public anger against President Bola Tinubu’s economic reforms. It was the 18th straight month that inflation has risen, up from 33.69% a month earlier. Price pressures …
Nigerian inflation rises in May to new 28-year high Read More »
RABAT (Reuters) – UK gas company Sound Energy PLC sold its subsidiary, Sound Energy Morocco East Limited, to Morocco’s largest mining company, Managem, the two companies said on Friday. The transaction amounts to $45.2 million in total, Sound Energy said, adding the sale was key to develop production in the eastern Morocco gas field, known …
UK’s Sound Energy PLC sells Moroccan gas assets to Managem Read More »
By Stephen Culp NEW YORK (Reuters) -U.S. stocks dipped, gold surged and European stocks suffered their biggest weekly loss of the year on Friday amid cooling economic data, a hawkish Federal Reserve and unfolding political crises in Europe. The dollar gained ground against a basket of world currencies, while the euro saw its largest Friday-to-Friday …
S&P 500 ends lower, European stocks wrap up biggest weekly loss of the year Read More »
By Nicole Jao NEW YORK (Reuters) -Oil futures prices settled slightly lower on Friday after a survey showed deteriorating U.S. consumer sentiment, but prices rose 4% for the week as investors weighed forecasts for solid demand for crude oil and fuel in 2024. Brent crude futures settled down 13 cents at $82.62 a barrel, while …
Oil dips, but posts weekly gain on solid 2024 demand outlook Read More »
NIAMEY (Reuters) – Niger has shut off oil exports to China via its pipeline to Benin’s coast, Oil Minister Mahamane Moustapha Barke Bako said on Thursday, deepening a standoff between the West African neighbours. At the Agadem oilfield in eastern Niger, the minister oversaw the padlocking of a section of the 2,000-km (1,243-mile) pipeline through …
Niger halts oil pipeline exports to China over Benin spat Read More »
By Karen Brettell (Reuters) -The euro was on track for its biggest weekly fall against the dollar in two months on Friday on concerns that a new government will worsen France’s fiscal situation as a snap parliamentary election approaches. The yen hit a six-week low against the dollar, before rebounding, after the Bank of Japan …
Election concerns in France give euro worst week in two months Read More »
By Tannur Anders and Bhargav Acharya JOHANNESBURG (Reuters) -South Africa’s rand gained on Friday after the Democratic Alliance said a deal had been struck with the African National Congress to form a unity government. The DA reached an agreement with the ANC and the Inkatha Freedom Party (IFP) after two weeks of negotiations following last …
South African rand gains as ANC and DA clinch unity government deal Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia will allow foreign banks to set up local subsidiaries and foreigners to acquire shares in domestic lenders, according to a bill approved by the cabinet on Friday, as part of the government’s broader plan to liberalise the economy. The country of more than 100 million people is …
Ethiopia to allow foreign banks to set up local subsidiaries Read More »
LAGOS (Reuters) – Seplat Energy is pursuing a swift conclusion to its $1.28 billion acquisition of ExxonMobil’s Nigerian shallow water oil assets, it said on Friday after being notified that NNPC had halted a legal challenge to the deal. State oil company NNPC had challenged Exxon’s sale of the assets to Seplat, saying it had …
Nigeria’s Seplat says NNPC has withdrawn challenge to $1.3 billion Exxon deal Read More »
