By Herbert Lash and Nell Mackenzie NEW YORK/LONDON (Reuters) -A gauge of global stock markets rallied on Monday on optimism that major central banks will cut interest rates this year, while the yen weakened against the dollar after a surge last week from Japan’s suspected currency intervention. Stocks on both sides of the Atlantic advanced, …
Global shares rally on rate cut hopes, yen weakens Read More »
ALGIERS/MADRID (Reuters) – Algeria will cancel its deliveries of gas to Naturgy if the Spanish firm’s shares are sold to another company, a source familiar with the matter told Reuters. The source did not name the firm that could buy Naturgy shares, but Abu Dhabi’s TAQA said last month it was in discussions with Naturgy’s …
By Erwin Seba HOUSTON (Reuters) -Oil futures ended largely unchanged on Monday as a ceasefire agreement between Hamas and Israel continued to elude negotiators. Both crude oil benchmarks settled 37 cents, or 0.5%, higher with Brent crude futures at $83.33 a barrel and U.S. West Texas Intermediate crude futures (WTI) at $78.48 a barrel. Last …
NAIROBI (Reuters) -Two Kenya Airways staff members who were detained in Democratic Republic of Congo in late April have been released, a senior Kenyan foreign ministry official and the airline’s chief executive said on Monday. The airline’s flights to Congo, which had been suspended in late April, would now resume, Chief Executive Officer Allan Kilavuka, …
Kenya Airways staff members detained in Congo released, official and airline says Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar fell against most currencies on Monday for a fourth straight session as recent labor market data and comments from Federal Reserve officials buoyed rate-cut hopes, but the greenback strengthened against the yen after last week’s suspected interventions. The dollar index, which measures the greenback against a basket …
Dollar weaker on Fed rate cut hopes, yen retreats after strong week Read More »
KIGALI (Reuters) – Rwanda plans to increase its overall spending by 11% to 5.69 trillion Rwandan francs ($4.43 billion) in the next financial year starting in July, its finance minister said on Monday. A total of 1.32 trillion francs in the draft 2024/25 budget would come from external loans, Finance Minister Uzziel Ndagijimana said, without …
Rwanda to increase spending by 11% in 2024/25, finance minister says Read More »
JOHANNESBURG (Reuters) -The South African rand was stronger on Monday against a weaker dollar, as market confidence gained on bets of U.S. interest rate cuts this year, analysts said. At 1518 GMT, the rand traded at 18.4325 against the dollar, about 0.3% stronger than its previous close. The dollar was down about 0.1% against a …
South African rand gains on bets of US rate cuts Read More »
CAPE TOWN (Reuters) – Oil major Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions, it said on Monday. “As a result of this review, Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in SDSA …
Shell to exit South Africa’s downstream businesses Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s electricity regulator has ordered the grid operator to cut back supplies to customers overseas to boost domestic supply. In a directive issued last Friday, the Nigerian Electricity Regulatory Commission (NERC) said the grid operator’s current approach in managing supply has caused significant hardship for Nigerians because supply under …
Nigeria cuts back electricity sales to overseas customers to boost domestic supply Read More »
NAIROBI (Reuters) – Kenya’s private sector activity was broadly steady in April, entering slightly into expansion territory after contracting marginally a month earlier, a business survey showed on Monday. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) stood at 50.1 in April, up from 49.7 a month earlier but below February’s reading of 51.3. Readings …
Kenya private sector activity steadies in April, PMI shows Read More »
