By Sarita Chaganti Singh and Manoj Kumar NEW DELHI (Reuters) -India’s retail inflation rate eased slightly in May, partly helped by fall in fuel prices although food prices remained elevated, government data showed on Wednesday. Annual retail inflation in May was 4.75%, down from 4.83% in April and lower than 4.89% forecast by 50 economists …
India’s May retail inflation eases slightly to 4.75% Read More »
(Amends grammatical error in second bullet point) By Maytaal Angel and Maxwell Akalaare Adombila LONDON/ACCRA (Reuters) -The world’s second largest cocoa producer Ghana is looking to delay delivery of up to 350,000 tons of beans to next season due to poor crops, five sources told Reuters in a further worsening of the outlook for the …
Ghana to delay more cocoa deliveries as supply crisis worsens Read More »
By Felix Onuah ABUJA (Reuters) – Nigeria’s President Bola Tinubu said on Wednesday economic reforms would continue despite increasing hardships that have fuelled public anger, and promised to send an executive bill to parliament soon to set a new minimum wage. Tinubu, who came to power a year ago, removed a decades-old petrol subsidy that …
Nigeria’s president says economic reforms will continue despite hardships Read More »
By Diadie Ba DAKAR (Reuters) -Senegal’s Sangomar oil and gas field has produced its first oil, operator Woodside Energy said on Tuesday, turning the West African nation into the world’s newest oil producer. It marks the start of a new era for the country, where gas production is also due to begin by the end …
Woodside’s Sangomar project produces first oil in Senegal Read More »
JOHANNESBURG (Reuters) -South Africa’s second-biggest supermarket retailer, SPAR Group, reported a 7.6% decline in half-year earnings as cost increases grew more than the management’s lower-than-expected turnover growth, while IT system issues hit gross margin. The grocer said profit before tax from continuing operations fell by 11.2% to 1.1 billion rand ($59 million) in the six …
IT system, high costs keep up pressure on profit for South Africa’s SPAR Read More »
NAIROBI (Reuters) – Kenya’s cabinet has approved a government proposal to sell shares it holds in six listed companies, including a cement maker and the country’s securities exchange, President William Ruto’s office said. The government will offload shares it holds in East African Portland Cement, Nairobi Securities Exchange, HF Group, Stanbic Holdings, Liberty Kenya Holdings …
Kenya’s cabinet approves sale of its shares in six listed companies Read More »
By Stephen Culp NEW YORK (Reuters) -The Nasdaq and the S&P 500 rose on Tuesday to end at all-time highs, reversing early losses as investors prepared for upcoming inflation data and the U.S. Federal Reserve’s policy meeting. Benchmark Treasury yields extended their decline ahead of the Labor Department’s Consumer Price Index (CPI) report. Apple shares …
S&P 500, Nasdaq notch record closing highs ahead of CPI, Fed decision Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices edged up to settle slightly higher on Tuesday as the U.S. Energy Information Administration (EIA) raised its global oil demand growth forecast for the year, while OPEC stuck to its forecast for relatively strong growth in 2024. Brent crude futures rose 29 cents, or 0.4%, to settle at …
Oil settle slightly up on forecasts for strong global demand Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar hit a four-week high on Tuesday, ahead of a highly anticipated inflation report that is likely to influence the timing of the first rate cut by the U.S. Federal Reserve, while the euro was pressured by political uncertainty in the European Union. Stronger-than-expected jobs gains and higher …
Dollar hits four-week high ahead of US inflation report Read More »
JOHANNESBURG (Reuters) -The South African rand gained on Tuesday, as political parties continued talks to try and form a government of national unity in the country, days away from the first sitting of lawmakers. At 1550 GMT, the rand traded at 18.6450 against the dollar, 0.44% stronger than its previous close. The African National Congress …
South African rand gains as unity government talks continue Read More »
