KAMPALA (Reuters) – Telecom firm MTN Uganda plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said on Saturday. The Uganda unit of South Africa’s MTN Group has received regulatory approval for the extra share sale, MTN …
MTN Uganda to sell shares left over from undersubscribed 2021 IPO Read More »
By Stephen Culp NEW YORK (Reuters) -U.S. stocks rallied and crude oil prices rebounded after upbeat economic data on Friday as investors positioned themselves ahead of the long U.S. Memorial Day weekend and the unofficial start to summer. The tech-heavy Nasdaq and the S&P 500 advanced, while the Dow closed nominally higher. The light-volume session capped …
Wall Street ends higher, crude prices rise ahead of US holiday weekend Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped against most major currencies on Friday as traders booked profits after recent gains but the U.S. currency remained well-placed for further advances, supported by strong U.S. economic data that has prompted markets to dial back expectations for interest rate cuts. Data on Friday showed new …
Dollar down on profit taking but upbeat outlook remains Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose about 1% on Friday, but fell for the week on worries that strong U.S. economic data would keep interest rates elevated for a longer period, curbing fuel demand. The Brent crude July contract rose 76 cents to $82.12 a barrel. The more-active August contract closed up 73 …
Oil posts weekly loss as interest rate policy spurs fuel demand worries Read More »
By David Shepardson WASHINGTON (Reuters) – The U.S. and Kenya will hold a new round of trade talks next month, they said on Friday, as the two countries tout new business deals and look to boost economic ties. Kenyan President William Ruto was in Washington for a State visit as the White House pledged new …
US, Kenya look to strengthen business, trade ties Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Friday, ahead of a general election and an interest rate decision next week. At 1507 GMT, the rand traded at 18.4250 against the dollar, up 0.31% from its previous close. The dollar index was around 0.33% weaker against a basket of global currencies. South Africans will on …
South African rand firms ahead of election, rate decision next week Read More »
DUBAI (Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia are known collectively as OPEC+ and will meet on June 2 to discuss their joint oil production policy. Below are key facts about OPEC+ and its role. WHAT ARE OPEC AND OPEC+? OPEC was founded in 1960 in …
What is OPEC+ and how does it affect oil prices? Read More »
(Reuters) -Abu Dhabi National Oil Co (ADNOC) and Saudi Aramco are among companies weighing bids for oil major Shell’s downstream assets in South Africa, Bloomberg News reported on Friday, citing people familiar with the matter. South Africa’s Sasol is also considering an offer for the business, which could be valued at more than $800 million, …
ADNOC, Aramco considering bids for Shell’s South Africa assets, Bloomberg News reports Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s central bank will hold its benchmark interest rate at 8.25% on May 30, the day after the country’s general election, before likely beginning an easing cycle next quarter as inflation retreats back to target. All 20 economists in a May 20-23 Reuters poll said the South African …
South Africa’s central bank to hold benchmark rate at 8.25% on May 30 – Reuters poll Read More »
BEIJING (Reuters) -State-run China National Offshore Oil Co said on Friday it had signed oil exploration and production concession contracts with Mozambique’s energy ministry and national energy company ENH. The contract is for five offshore blocks in waters off the African nation and covers a total area of about 29,000 sq km (11,200 sq miles) …
China’s CNOOC signs oil exploration, production contracts with Mozambique Read More »
