Reuters Africa Business Archives - Page 43 of 921

Stocks edge up on Amazon boost, dollar rises after Fed comments

31 Oct 2025 31 Oct 2025

By Chuck Mikolajczak NEW YORK (Reuters) -Global stocks were on pace for their third straight week of gains and seventh consecutive monthly advance on Friday buoyed by strong gains in megacap Amazon after its quarterly earnings, while the dollar climbed after hawkish comments from some Federal Reserve officials. Amazon surged 9.6% after reporting cloud revenue …

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Yen faces worst monthly drop since July as BOJ disappoints

31 Oct 2025 31 Oct 2025

By Karen Brettell NEW YORK (Reuters) -The Japanese yen was heading for a monthly loss against the U.S. dollar on Friday after the Bank of Japan disappointed traders hoping for a more hawkish stance on future rate hikes, while the Federal Reserve dampened expectations for a December rate cut. The yen clawed back some losses …

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World Bank arbitration body rejects Barrick expedition request in Mali case, sources say

31 Oct 2025 31 Oct 2025

By Portia Crowe and Divya Rajagopal DAKAR/TORONTO (Reuters) -A request by Barrick Mining to expedite its international arbitration case against Mali has been rejected, two people familiar with the matter told Reuters on Friday. The West African country’s government has been in fraught negotiations with Barrick since 2023 over the implementation of a new mining …

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Zambia’s largest bank to issue nation’s first sustainability bond

31 Oct 2025 31 Oct 2025

By Chris Mfula and Colleen Goko LUSAKA (Reuters) -Zambia National Commercial Bank, or ZANACO, plans to raise $100 million through the country’s first sustainability bond, its Chief Executive Officer Mukwandi Chibesakunda said at a press briefing in Lusaka on Friday. In the last few years such bonds, issued to raise capital for projects that deliver …

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Exxon looks to lift force majeure at LNG project in Mozambique

31 Oct 2025 31 Oct 2025

By Sheila Dang and Arunima Kumar HOUSTON (Reuters) -Exxon Mobil is looking at lifting force majeure on a $30 billion liquefied natural gas project in Mozambique as security conditions in the country improve, CEO Darren Woods told investors on Friday during an earnings call. “Total just lifted their force majeure, and we’re looking at, and …

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South African rand remains subdued amid dollar strength

31 Oct 2025 31 Oct 2025

JOHANNESBURG(Reuters) -The South African rand weakened this week, along with other emerging market currencies, as the dollar firmed on uncertainty over further U.S. rate cuts following the Federal Reserve’s more conservative positioning on interest rates. At 1343 GMT the rand traded at 17.36 against the dollar, down 0.4% from Thursday’s close. On Wednesday, the U.S. …

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Angola diamond production totals 10.7 million carats in January-September

31 Oct 2025 31 Oct 2025

LUANDA (Reuters) -Angola’s rough diamond production reached 10.7 million carats in the nine months to September, a government official said on Friday, as the country targets another record haul this year. The southwest African country produced a record 14 million carats of rough diamonds in 2024, making it the third largest producer by output, behind …

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South Africa’s Aspen settles mRNA contract dispute for 25 million euros

31 Oct 2025 31 Oct 2025

By Siyanda Mthethwa JOHANNESBURG (Reuters) -South Africa’s biggest pharmaceutical producer Aspen Pharmacare said on Friday it had reached a 25 million euro ($29.2 million) settlement in a contractual dispute with a client over a manufacturing and technology agreement for mRNA products. The dispute triggered a sharp market reaction when it was first disclosed in April, …

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Al-Qaeda-linked JNIM says it killed soldier in first Nigeria attack

31 Oct 2025 31 Oct 2025

MAIDUGURI, Nigeria (Reuters) -Al-Qaeda–linked militant group, a Jama’at Nusrat al-Islam wal-Muslimin (JNIM), has claimed responsibility for an attack that killed a soldier in central Nigeria this week, its first known attack in the country. In a video posted on its Telegram channel late on Thursday, JNIM said it launched the attack in Nigeria’s Kwara state …

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Newmont CEO says Ghana’s fiscal stability key as $900 million gold mine opens

31 Oct 2025 31 Oct 2025

By Emmanuel Bruce ACCRA (Reuters) -Fiscal stability and fair tax and royalty systems are vital if countries want to attract mining investment, Newmont CEO Tom Palmer told Reuters as the company opened its $900 million Ahafo North mine in Ghana. In Africa, Newmont now only operates in Ghana, one of the continent’s most stable mining …

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