By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve left interest rates unchanged and indicated it is still leaning toward eventual rate cuts. But the U.S. central bank put a red flag on recent disappointing inflation …
Stocks, dollar decline after Fed holds rates steady Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 3% to a seven-week low on Wednesday on a surprise build in U.S. crude stocks, the prospect of a Middle East ceasefire agreement and as hopes faded for near-term U.S. interest rate cuts that could boost oil demand. Brent <LCOc1> futures for July delivery fell …
Oil falls to 7-week low on surprise US storage build, Middle East hopes Read More »
By Isaac Anyaogu LAGOS (Reuters) – Gasoline shortages persisted in Nigeria’s major cities on Tuesday, causing a sharp increase in prices and exacerbating the country’s cost-of-living crisis. Prices in some retail outlets in Lagos and Abuja rose above 850 naira, while those outside major cities, such as Kano, soared above 1000 naira, though the government-owned …
Nigerian gasoline prices soar as shortages worsen cost of living crisis Read More »
By Libby George LONDON (Reuters) – Copper producer Zambia is on the cusp of moving on from its debt default after a nearly four-year-long process. Along with Sri Lanka and Ghana, the southern African nation fell into debt distress, and then default during the COVID-19 pandemic. Does its deal with bondholders mean its economy is …
Explainer-Does Zambia’s bondholder deal mean it has resolved its default? Read More »
By Duncan Miriri NAIROBI (Reuters) – Ethiopian Airlines expects to carry 30% more passengers in the year ended June from the year before, its chief executive told Reuters on Wednesday, buoyed by new routes and a rebound in global travel. Africa’s biggest airline, however, faces risks from delayed aircraft deliveries and the grounding of some …
Ethiopian Airlines sees 30% surge in passengers this year, CEO says Read More »
(Reuters) -Coca-Cola is gearing up for a potential initial public offering (IPO) of its African bottling business as soon as next year, Bloomberg News reported on Monday, citing people familiar with the matter. It may seek a valuation of more than $8 billion for the business, the report said, adding that the deliberations were at …
Coca-Cola gears up for IPO of $8 billion African bottling arm, Bloomberg reports Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s oil regulator on Monday commenced the evaluation of the divestment processes of Shell’s 75-year-old onshore assets to Renaissance company, the new investors. Shell in January announced that it had reached an agreement to sell its onshore assets in the Niger Delta region to Renaissance and focus on Deepwater …
JOHANNESBURG (Reuters) -South Africa’s rand firmed on Monday ahead of local economic data releases and the Federal Reserve’s policy review later in the week. At 1511 GMT, the rand traded at 18.6550 against the U.S. dollar, about 0.8% stronger than its previous close. The dollar index was last trading down 0.26% against a basket of …
South African rand firms ahead of local economic data, FOMC Read More »
By Bhargav Acharya JOHANNESBURG (Reuters) – South Africa views BHP Group’s proposed bid for Anglo American as “normal market activity” and is following the process as it unfolds, President Cyril Ramaphosa’s spokesperson said on Monday. BHP is considering making an improved offer for Anglo American after its $39 billion initial proposal was rejected by the …
South Africa views BHP bid for Anglo as ‘normal market activity’ Read More »
CAPE TOWN (Reuters) -Namibia’s national oil company (NAMCOR) has signed a development deal with Chevron that will see the U.S. oil major take an 80% operating working interest in an offshore block in the Walvis Basin, NAMCOR said on Monday. Oil companies are flocking to Namibia, excited by the southern African country’s plans to open …
Namibia’s NAMCOR signs deal with Chevron to develop offshore block Read More »
