CAIRO (Reuters) – Egypt is drawing up plans to develop Ras Gamila, a stretch of largely vacant seaside near the resort of Sharm el-Sheikh, a government official said, days after a huge Emirati investment deal was announced. “A committee was formed following a cabinet decision to research, present and prepare a strategic vision for exploiting …
Egypt drawing up plans for south Sinai land after UAE mega-deal Read More »
JOHANNESBURG (Reuters) -South Africa’s rand traded stronger on Tuesday but remained above the 19.0 mark after two days of heavy losses last week. At 1508 GMT, the rand traded at 19.1100 against the dollar, almost 1% stronger than its previous close. The dollar index was up about 0.05%. There were no major South African data …
South African rand recovers some losses, weakness persists Read More »
By Sinéad Carew and Yoruk Bahceli (Reuters) -A global equities index fell slightly on Monday after hitting record highs last week, as investors took a breather ahead of the next batch of U.S. economic data, while oil prices rallied on concerns about shipping disruptions. U.S. Treasury yields rose after an auction while the dollar fell …
Global equities index sluggish with inflation in focus, oil climbs Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -The dollar was mostly lower on Monday ahead of U.S. durable goods orders and an inflation reading this week that could provide more information on how soon the Federal Reserve may begin cutting interest rates. The dollar index, a measure of the greenback against a basket of currencies, was …
By Erwin Seba HOUSTON (Reuters) – Oil prices gained on Monday as European diesel demand, constrained by Russian sanctions and shipping disruptions, pulled prices higher in a market jittery with U.S. refinery output limited by planned overhauls, analysts said. Brent crude futures settled with a gain of 91 cents, or 1.11%, at $82.53 a barrel. …
Oil gains over $1 on possible shipping disruptions Read More »
By Felix Onuah ABUJA (Reuters) – Nigeria’s government has approved a plan to merge, scrap, and relocate several agencies to streamline its bureaucracy and cut costs, the information minister said on Monday. The move followed recommendations from a 2012 report from a government-appointed committee that suggested the elimination or merger of some 220 of more …
Nigeria to merge, scrap, government agencies to trim costs Read More »
JOHANNESBURG (Reuters) -South Africa’s rand continued its downward slide for another session on Monday, with analysts citing the negative impact of the 2024 national budget on investor sentiment. At 1602 GMT, the rand traded at 19.3225 against the dollar, 0.16% weaker than its previous close. The currency also weakened on Thursday and on Friday as …
South African rand extends slide ahead of data-filled week Read More »
By Nelson Banya (Reuters) -South African petrochemical firm Sasol is committed to a 30% cut in carbon emissions by 2030, but wants “a balanced debate” that weighs the economic impact of climate targets, its CFO said on Monday. Sasol, the world’s biggest producer of fuels and chemicals from coal and gas, and a major carbon …
Sasol committed to climate targets, but not “at all costs” Read More »
ABIDJAN (Reuters) – Dry weather and high temperatures continued last week in most of Ivory Coast’s cocoa-growing regions, raising concerns for the size and quality of the April-to-September mid-crop, farmers said on Monday. Ivory Coast, the world’s top cocoa producer, is in its dry season which runs from mid-November to March, when rain is usually …
Persistent dry, hot weather worries Ivory Coast cocoa farmers Read More »
By Neha Arora NEW DELHI (Reuters) – India is considering an export tax on low-grade iron ore after small steel producers urged the government to curb its overseas sales, two sources directly involved in the matter said. China typically accounts for more than 90% of overall shipments of iron ore from India, which is the …
Exclusive – India considers export tax on low-grade iron ore, sources say Read More »
