JOHANNESBURG (Reuters) – South African private sector activity rose marginally in April as an improvement in business confidence encouraged companies to expand purchasing activity and staffing levels, a survey showed on Monday. The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 50.3 in April from 48.4 in March, its highest reading since February. …
South Africa business activity rises in April, PMI shows Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -A gauge of global stocks rallied while Treasury yields fell on Friday after a U.S. payrolls report was softer than anticipated, easing concerns the Federal Reserve would keep interest rates higher for longer. Nonfarm payrolls rose by 175,000 last month, the lowest since October 2023, and short of the …
(Reuters) -Global ratings agency Fitch revised Egypt’s outlook to positive from stable on Friday. The agency affirmed Eygpt’s rating at ‘B-‘, citing reduced external financing risks and stronger foreign direct investment. In March, the International Monetary Fund approved an expanded financial support of $8 billion for the North African country. The IMF’s loan programme with …
Fitch revises Egypt’s outlook to positive on reduced external financing risks Read More »
(Reuters) -Global ratings agency Fitch revised Nigeria’s outlook on Friday to positive from stable, citing the country’s economic reforms under its new president. Since taking office about a year ago, President Bola Tinubu has embarked on sweeping reforms, including slashing costly petrol and electricity subsidies and devaluing the naira currency twice within a year to …
Fitch revises Nigeria’s outlook to positive on recent economic reforms Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices settled lower on Friday, and posted their steepest weekly loss in three months as investors weighed weak U.S. jobs data and possible timing of a Federal Reserve interest rate cut. Brent crude futures for July settled 71 cents lower, or 0.85%, to $82.96 a barrel. U.S. West …
Oil settles down on US jobs data, steepest weekly loss in 3 months Read More »
By Camillus Eboh and Isaac Anyaogu ABUJA (Reuters) -Major oil companies such as Exxon Mobil and Shell that aim to exit Nigeria’s onshore oil can get quicker approval to do so if they take responsibility for spills rather than wait for authorities to apportion blame, the regulator said on Friday. Exxon, Shell, TotalEnergies, and Eni …
Oil majors offered faster Nigerian exit if they pay for cleanup Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar fell to a three-week low against the yen on Friday after data showed U.S. jobs growth slowed more than expected in April and annual wage gains cooled, boosting bets that the Federal Reserve will cut rates twice this year. Employers added 175,000 jobs last month, below …
Dollar drops as employers add fewer jobs than expected in April Read More »
JOHANNESBURG (Reuters) -The South African rand was stronger on Friday after U.S. nonfarm payrolls grew less than expected in April, boosting hopes that the Federal Reserve could cut interest rates soon. At 1516 GMT, the rand traded at 18.5100 to the dollar, about 0.3% stronger than its previous close. The dollar was down about 0.3% …
South African rand boosted by weaker US jobs data Read More »
JOHANNESBURG (Reuters) – South African mining company Harmony Gold on Friday reported that one of its employees had died at its Doornkop mine. The company said the person was a rock drill operator and had passed away on Thursday after a fall of ground incident at its mine in Soweto, about 20 kilometres from Johannesburg …
Harmony Gold reports one fatality at Johannesburg mine Read More »
(Reuters) – A BP-Eni joint venture and Rhino Resources Namibia have signed an agreement for a 42.5% interest in a block in the country’s offshore Orange Basin, the companies said on Friday. The agreement is Azule Energy’s first investment in Namibia. Azule, formed in 2022, is a JV between Eni and BP for their Angolan …
BP-Eni JV signs agreement for Namibia offshore license Read More »
