JOHANNESBURG (Reuters) – South Africa’s rand weakened on Tuesday after local data showed the country’s unemployment rate rose in the first quarter and local mining output fell in March. At 1338 GMT, the rand traded at 18.4175 against the dollar, about 0.3% weaker than its previous close. The dollar last traded about 0.13% stronger against …
South African rand slips as Q1 unemployment rate climbs Read More »
(Reuters) – Commodities trader Vitol and its unit Vivo Energy intend to invest more than $550 million by 2030 in the infrastructure required to facilitate cleaner cooking in Africa. The investment comprises of liquefied petroleum gas (LPG) infrastructure from marine terminals to the high-quality cylinders required for the safe distribution of LPG, and investment in clean …
Vitol to invest $550 million in clean cooking in Africa Read More »
JOHANNESBURG (Reuters) – The boss of Anglo American said on Tuesday a bid by rival BHP to take over the company forced him to accelerate plans for a spin-off of its South Africa’s platinum assets, a move set to cause concerns in Pretoria weeks before a national election. While Anglo was already working on its …
Anglo CEO says BHP bid forced his hand on demerger of S.Africa assets Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -MTN Group, Africa’s biggest telecoms operator, reported on Tuedsay an 18.8% fall in first-quarter service revenue, weighed down by the performance of MTN Nigeria, and also revised down its expected capital expenditure for 2024. MTN, with 288 million subscribers in 18 markets across Africa, said its reported group service revenue …
South Africa’s MTN service revenue falls, lowers capex target Read More »
KAMPALA (Reuters) – Uganda is in talks with Chinese firm Sinohydro Corporation Limited for the development of a $180 million power transmission line to allow Uganda to export power to energy-starved South Sudan, the president’s office said. As part of the talks, a delegation led by Yang Yi Xin, Sinohydro Corporation’s vice president, met Uganda’s …
Uganda in talks with China’s Sinohydro over power line to South Sudan Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -Global stock indexes were little changed on Monday while the U.S. dollar index eased as investors awaited this week’s U.S. inflation data that is expected to be key for the outlook for U.S interest rates. While the U.S. consumer prices report will likely take center stage, U.S. producer price …
Stocks near flat, dollar dips as focus shifts to US inflation data Read More »
By Herbert Lash and Samuel Indyk NEW YORK/LONDON (Reuters) – The dollar eased versus most major currencies on Monday amid expectations key U.S. data this week will show a slowing pace of inflation and growth at a time European economies have surprised to the upside and could be bolstered by interest rate cuts. The dollar …
Dollar eases as market awaits key inflation data Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices rose on Monday, as signs of improving demand in the U.S. and China, the top two oil consumers, aided the bounce from the previous session’s $1 a barrel slide. U.S. West Texas Intermediate crude futures rose 86 cents, or 1.1%, to settle at $79.12 a barrel. Brent …
Oil prices settle up on demand optimism, US inflation in focus Read More »
KINSHASA (Reuters) – Democratic Republic of Congo’s government has lifted a suspension order on a Congolese copper and cobalt operation majority-owned by China’s Zijin Mining Group Co. Ltd, according to a letter seen by Reuters on Monday. Congo’s mines ministry last month halted the activities of the COMMUS project, in which Zijin owns a 72% …
DR Congo allows Zijin mine to resume operations, mines ministry letter says Read More »
N’DJAMENA (Reuters) – The Paris Court of Arbitration has rejected a bid by Savannah Energy Plc to freeze COTCO oil pipeline company’s accounts after Chad nationalised its upstream assets in the country, Chad’s transitional government said on Monday. London-listed Savannah said in March last year that it planned to pursue all its legal rights to …
