CAIRO (Reuters) – Egypt plans to build two solar power stations worth 1 billion Egyptian pounds ($20.60 million), financed by the European Union, the petroleum ministry said on Monday. A 550 million Egyptian pound project at the Assiut Oil Refining Company with a capacity of 10 megawatts is expected to be completed within 11 months, …
Egypt to build solar power stations worth $20 million Read More »
By Rachel Savage JOHANNESBURG (Reuters) – Ghana failed to strike a deal with holders of its international bonds, the government said on Monday, a hurdle in its bid to emerge from default and a deep economic crisis. Below is a condensed timeline of key events: February 2022 – Credit ratings agency Moody’s downgrades Ghana’s credit …
Ghana’s debt rework quest hits international bonds hurdle Read More »
By Alex Lawler, Robert Harvey and Ahmad Ghaddar LONDON (Reuters) – Oil prices, which hit a six-month high on Friday, are expected to rise on Monday after Iran’s attack on Israel over the weekend, analysts said, but further gains may depend on how Israel chooses to respond. Iran launched explosive drones and missiles at Israel …
Oil seen opening up after Iran’s attack on Israel Read More »
By Boureima Balima NIAMEY (Reuters) – Niger has signed a memorandum of understanding with Chinese state-owned oil giant China National Petroleum Corp (CNPC) worth $400 million linked to the sale of crude oil from its Agadem oilfield, Niger state television RTN reported late on Friday. RTN did not provide details on the agreement. Niger’s military …
Niger and China sign crude oil MOU worth $400 million, says Niger state TV Read More »
By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) -Ghana is confident it will “at some point” reach a deal with international bondholders to restructure $13 billion of debt, its finance minister said on Saturday, as the International Monetary Fund announced a successful loan programme review. The West African country has been overhauling its debt …
Ghana finance min confident of bondholder deal ‘at some point’ as IMF completes review Read More »
By Lewis Krauskopf and Naomi Rovnick NEW YORK/LONDON (Reuters) -U.S. stocks sold off sharply on Friday while the dollar jumped as investors grappled with rising geopolitical tensions and persistent inflation that could lead to diverging monetary policy between the U.S. and Europe. MSCI’s gauge of stocks across the globe was last down 1.2%, its biggest …
Stocks tumble, dollar firms amid geopolitical risk, mixed central bank views Read More »
By Chuck Mikolajczak and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar rose to its highest since November on Friday, boosted by safe-haven demand amid geopolitical tension in the Middle East as well as increasing divergence in monetary policy between the Federal Reserve and other major central banks. The dollar index was on track to …
US dollar rallies on safe-haven bids, rate cut delay; yen hits 34-year low Read More »
By Nicole Jao NEW YORK (Reuters) -Oil rose around 1% on Friday on geopolitical tensions in the Middle East but posted a weekly loss on a bearish world oil demand growth forecast from the International Energy Agency (IEA) and worries about slower U.S. interest rate cuts. Brent crude futures settled up 71 cents at $90.45 …
Oil settles up on Middle East tensions, posts weekly loss Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Friday against the U.S. dollar, which hovered near a five-month high as traders heavily scaled back bets for a slew of U.S. rate cuts this year. At 1537 GMT, the rand traded at 18.9050 against the dollar, nearly 1% weaker than its previous close. The dollar index was …
South African rand slips against dollar as Fed rate cut bets dwindle Read More »
JOHANNESBURG (Reuters) – South Africa’s biggest food producer Tiger Brands hopes its 300 million rand ($16 million) peanut butter manufacturing plant officially launched on Friday will help it bring down costs and deliver more innovation and affordability to consumers. After cutting the ribbon on the plant, located at Krugersdorp west of Johannesburg and which will …
Tiger Brands’ new peanut butter plant to help with costs and innovation Read More »
