HOUSTON (Reuters) – Global crude oil and oil products shipments taking the long route between Asia, the Middle East and the West is up 47% since attacks began on vessels using the shorter Red Sea route, the Energy Information Administration said on Tuesday. The longer route around the Cape of Good Hope to avoid attacks …
Red Sea ships attacks push 47% more crude oil, fuels around Africa Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia’s budget deficit is estimated at 2.1% of gross domestic product next fiscal year, the East African country’s finance minister Ahmed Shide said on Tuesday. Ethiopia is emerging from several economic shocks including the COVID-19 pandemic, a devastating two-year war in the northern Tigray region and extreme weather …
Ethiopia sees budget deficit at 2.1% of GDP next fiscal year Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s state firm NNPC has signed an agreement with Golar LNG to deploy a floating liquefied natural gas (LNG) vessel off the coast of its oil-rich Niger Delta, NNPC said on Tuesday. Nigeria, Africa’s top oil producer, holds the continent’s largest gas reserves of more than 200 million trillion …
Nigeria’s NNPC signs floating LNG deal with Golar LNG Read More »
By George Obulutsa and Duncan Miriri NAIROBI (Reuters) -Kenya has reached a staff level agreement with the International Monetary Fund on Tuesday, the organisation said, paving the way for the disbursement of about $976 million. The fund said in a statement that if its Executive Board approves a second review of Kenya’s Resilience and Sustainability …
IMF reaches staff level agreement with Kenya, urges fiscal consolidation Read More »
By Sinéad Carew and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -MSCI’S global equities index edged higher on Monday while investors waited for key U.S. inflation data and central bank policy meetings but the euro fell after French President Emmanuel Macron called a snap election. U.S. Treasury yields rose as investors digested Friday’s labor market data and …
Global stock index rises slightly while euro falls, yields up Read More »
By Ahmed Eljechtimi TANGIER (Reuters) – Morocco’s Tanger Med port expects to top its nominal processing capacity of nine million containers this year, the port’s deputy managing director told Reuters, adding security problems in the Red Sea had had little impact on traffic growth. Last year, the port maintained its position as the largest in …
Morocco’s Tanger Med port expects to exceed nominal container capacity Read More »
By Karen Brettell and Alun John NEW YORK/LONDON (Reuters) – The euro fell on Monday after gains by the far right in European Parliament elections on Sunday prompted French President Emmanuel Macron to call a snap national election. The uncertainty in France adds one more element to what will be a busy week for markets …
Euro tumbles as Macron calls snap French election Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% to a one-week high on Monday, buoyed by hopes of rising fuel demand this summer despite a stronger U.S. dollar and expectations the U.S. Federal Reserve will leave interest rates higher for longer. The Fed hiked interest rates aggressively in 2022 and 2023 to …
Oil prices up 3% to one-week high on hopes of higher summer fuel demand Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Monday, as focus remained on talks between political parties on forming a government of national unity in the country. The African National Congress (ANC) last week issued a broad invitation to other parties to be part of a new government, after it lost its majority in last …
South African rand firms as unity government talks continue Read More »
CAIRO (Reuters) -Egypt’s annual urban consumer price inflation in May fell to 28.1% from 32.5% in April, slowing faster than analysts had expected, data from statistics agency CAPMAS showed on Monday. Inflation was expected to fall to 30.4%, a median forecast from a poll of 19 analysts showed, continuing a slowing trend since a September …
