BRUSSELS (Reuters) – The EU on Friday said it would provide Egypt with 1 billion euros ($1.07 billion) in short-term financial aid to help stabilise the country’s economy. Egypt agreed last month to an expanded $8 billion support programme with the International Monetary Fund and a deal with the EU worth billions to boost cooperation …
EU pledges Egypt 1 billion euros in financial aid Read More »
By MacDonald Dzirutwe LAGOS (Reuters) -Nigerian banking group Guaranty Trust Holding Plc plans to seek shareholder approval next month to raise up to $750 million in capital, joining other banks in bolstering capital reserves to meet new targets. The Central Bank of Nigeria last month announced minimum capital requirements for banks to strengthen the country’s …
Nigeria’s Guaranty Trust Holding plans $750 million capital increase Read More »
By Dominique Vidalon PARIS (Reuters) – Societe Generale said on Friday it had agreed the sale to Moroccan conglomerate Saham Group of Société Générale Marocaine de Banques and La Marocaine Vie for 745 million euros ($797.45 million), as part of a wider divestment strategy, lifting its shares by more than 2%. CEO Slawomir Krupa is …
SocGen to sell Moroccan units stakes for 745 million euros Read More »
(Reuters) -Moderna said on Thursday it had paused its plans to build a vaccine manufacturing facility in Kenya, following a post-pandemic decline in demand for COVID-19 vaccines. The move is in line with Moderna’s strategy of resizing its manufacturing network to cut costs, even as it aims to spend around $4.5 billion this year in …
Moderna pauses Kenya plant plans as COVID vaccine demand wanes Read More »
By Sinéad Carew NEW YORK (Reuters) -A global equities index rose slightly on Thursday after falling earlier in the day while Treasury yields rose as investors looked to the latest inflation data for clues on the potential for Federal Reserve interest rate cuts. A day after March’s hot Consumer Price Index (CPI) reading sent equity …
Global equity gauge rises slightly with inflation, rates in focus Read More »
By Makini Brice WASHINGTON (Reuters) -A bipartisan group of senators has introduced a bill to renew the U.S. trade pact with sub-Saharan Africa ahead of its expiration next year, an aide to one of the senators said on Thursday. The bill was introduced by Senators Chris Coons, a Democrat, and James Risch, top Republican on …
US senators introduce bill to renew Africa trade pact through 2041 Read More »
By Andrea Shalal WASHINGTON (Reuters) -A top U.S. Treasury official on Thursday called out emerging official creditors – the biggest of which is China – for curtailing loans to countries that had already embarked on a program with the IMF or multilateral development banks. “When the IMF and MDBs support countries’ reforms and investment plans, …
US Treasury warns creditors against free-riding on aid to developing countries Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar rose moderately on Thursday in choppy trading, as weaker-than-expected March U.S. producer prices did not relieve concerns about persistent inflation which has reinforced the belief that the Federal Reserve will delay cutting interest rates this year. Fed officials who spoke on Thursday also repeated the need for …
US dollar modestly higher as sticky inflation persists, yen hits 34-year low Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower on Thursday as sticky inflation dampened hopes for near-term U.S. interest rate cuts, but worries that Iran might attack Israeli interests kept crude near six-month highs. Brent crude futures settled down 74 cents, or 0.8%, to $89.74 a barrel while U.S. West Texas Intermediate crude futures settled …
Oil settles lower as rate cut hopes moderate, Brent holds near $90/bbl Read More »
(Reuters) -Diversified miner Sibanye Stillwater’s planned restructuring of its South African gold operations could cut 4,022 jobs, the South African company said on Thursday, with unions vowing to fight the layoffs. In a statement, the company, which suffered an annual loss of $2 billion in 2023 from a slump in metal prices, said the restructuring …
Sibanye could cut 4,000 jobs as it restructures gold operations Read More »
