By Laura Sanicola (Reuters) -Oil prices settled lower on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks. Front-month Brent crude futures due to expire on Thursday settled down 50 cents at $86.25 a barrel while U.S. West Texas Intermediate (WTI) crude futures settled down …
Oil settles lower as markets weigh Russian supply woes Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar rose on Tuesday as traders waited on a fresh catalyst to give clues on Federal Reserve policy, while the yen slipped after Japan’s finance minister said that he would not rule out any measures to cope with the weakening currency. Investors are grappling with whether the U.S. …
Dollar up: yen edges lower after Japanese finance minister comments Read More »
By Patrick Werr and Maha El Dahan CAIRO (Reuters) -Egypt has started paying off dues owed to foreign oil and gas companies operating in the country, the government said on Tuesday, with sources saying that up to $1.5 billion had been set aside for the payments. A cabinet statement said the payment process that had …
Egypt starts repaying up to $1.5 billion in oil company arrears, sources say Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against the U.S. dollar on Tuesday after a drop in fourth quarter local employment figures, and ahead of an interest rate decision the following day. At 1523 GMT, the rand traded at 18.9925 against the dollar, about 0.5% weaker than its previous close. The dollar was little changed against …
South African rand weakens after employment data Read More »
By Nqobile Dludla PRETORIA (Reuters) – Japanese carmaker Nissan Motor plans to introduce its e-power hybrid technology car in Tunisia, its Africa head said on Tuesday, as part of plans to test demand in the African market for electric vehicles. Africa is the world’s last remaining automotive frontier due to the low level of vehicle …
Nissan to test African demand for its e-Power hybrid vehicle Read More »
By Elisha Bala-Gbogbo and Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s central bank raised its monetary policy rate by 200 basis points to 24.75% from 22.75%, governor Olayemi Cardoso said on Tuesday, as the bank continued a tightening to head off soaring inflation. This followed its largest rate hike in around 17 years last month, when the …
Nigeria’s central bank hikes benchmark rate to 24.75% to tame inflation Read More »
By Duncan Miriri NAIROBI (Reuters) -Kenya Airways swung to an operating profit of 10.53 billion shillings ($80.38 million) last year, it said on Tuesday. One of Africa’s three biggest carriers, Kenya Airways slid into insolvency in 2018 after an expansion drive left it with hundreds of millions of dollars in debt. Last year’s operating profit …
Kenya Airways swings to first operating profit since 2017 Read More »
BOAO, China (Reuters) – The New Development Bank (NDB), set up by the BRICS group of emerging economies, aims to make about $5 billion in loans this year, its vice president, Zhou Qiangwu, said on Tuesday. “During the epidemic, our business has been somewhat affected, and now everything is going back on track,” Zhou told …
BRICS development bank aims to make $5 billion in loans in 2024 Read More »
BEIJING (Reuters) – China will continue cooperating with all sides to advance Zambia’s debt restructuring, a foreign ministry spokesperson said on Tuesday, without saying if it supported a proposed deal the southern African country reached with overseas bondholders. Zambia and the bondholder group said on Monday that they reached a new agreement to restructure $3 …
China to keep cooperating on Zambia debt rework, says official Read More »
(Reuters) – South African grocery retailer and wholesaler SPAR, on Tuesday, reported an 8.8% increase in turnover for the 24 week-period ended March 15, but said operating performance continued to be impacted by currency swings and cost-of-living pressures. (Reporting by Eva Mathews in Bengaluru; Editing by Savio D’Souza)
