By Laura Sanicola (Reuters) -Oil prices settled lower on Tuesday, with worries about global demand offsetting price support from the Israel-Hamas conflict. Brent futures settled down $1.22, or 1.5%, to $82.34 a barrel. The six-month spread for Brent on Tuesday was at its highest since October, a sign of a tighter market. U.S. West Texas …
Oil settles lower, demand worries offset geopolitical price support Read More »
JOHANNESBURG (Reuters) -The South African rand rose against a softer dollar on Tuesday, as traders awaited domestic inflation figures and the finance minister’s budget speech due on Wednesday. As of 1605 GMT, the rand traded at 18.9100 against the dollar, over 0.2% stronger than its previous close. The dollar index was last down around 0.3%. …
South African rand firms ahead of budget speech; stocks drop Read More »
(Reuters) – Ethiopia’s government is discussing selling 10% of state-owned telecoms company Ethio Telecom via a local stock exchange that is being launched this year, Prime Minister Abiy Ahmed said on Tuesday. Ethiopia’s telecoms industry, serving a population of about 120 million, was considered a big prize when Abiy took over in 2018 and promised …
Ethiopia discussing selling 10% stake in Ethio Telecom via stock exchange, Abiy says Read More »
By Divya Rajagopal TORONTO (Reuters) – Canadian miner First Quantum Minerals Ltd (FQM) is re-shuffling top-tier personnel at its Zambian operations in a bid to tackle production and safety shortfalls in the South African country, an internal memo seen by Reuters showed. The latest action comes as the company continues to deal with fallout from …
First Quantum Minerals re-shuffles management at Zambian operation Read More »
By Kopano Gumbi and Anait Miridzhanian PRETORIA (Reuters) -South Africa’s unemployment rate rose in the fourth quarter of last year, bucking a trend where jobs tend to be added around the holiday season as a labour market recovery from the COVID-19 pandemic ground to a halt. Analysts said the rise in the official unemployment rate …
South African labour market recovery stalls months before election Read More »
By Felix Njini and Veronica Brown JOHANNESBURG/LONDON (Reuters) – The Democratic Republic of Congo’s state miner is broadening a push to extract more from its copper and cobalt joint ventures, seeking to negotiate for higher stakes across the board to gain leverage in management of some of its biggest mines. Gecamines is also leveraging existing …
Gecamines plans overhaul of mining JVs in world’s top cobalt supplier Read More »
ABUJA (Reuters) – Nigeria’s unemployment rate rose to 5% in the third quarter amid a cost-of-living crisis after the government scrapped a popular but costly petrol subsidy. President Bola Tinubu has defended his two biggest reforms – the scrapping of the subsidy and foreign exchange controls – saying although this would lead to hardship in …
Nigeria’s Q3 jobless rate rises to 5% as impact of reforms takes effect Read More »
(Reuters) – Anglo American Plc’s Kumba Iron Ore plans to cut about 490 jobs, it said on Tuesday, after reducing production as it struggles to overcome South Africa’s persistent rail bottlenecks and move sufficient volumes to ports. In December, Kumba said it was curbing production to match the limited capacity of state-owned rail operator Transnet, …
Anglo’s Kumba Iron Ore plans to cut 490 jobs as rail crisis hits output Read More »
KAMPALA (Reuters) – Uganda’s government plans spending of 53.3 trillion shillings ($13.74 billion) in the fiscal year that starts in July, up about 1% on the current year’s spending, the finance ministry said on Tuesday. In the 2024/25 fiscal year the government plans to direct a greater share of development expenditure to improving roads, railways …
Uganda sees 2024/25 spending rising marginally on current fiscal year Read More »
By Shariq Khan NEW YORK (Reuters) -Brent crude oil prices settled slightly higher in an abbreviated session on Monday, as lingering supply concerns from tensions in the Middle East were offset by signs of weakening demand. Oil markets’ saw thinner volumes than usual due to the Presidents’ Day holiday in the U.S., UBS analyst Giovanni …
Oil gains marginally as demand jitters counter Middle East conflict Read More »
