By Isaac Anyaogu and Felix Onuah LAGOS (Reuters) – Nigeria’s fuel tanker drivers began a strike on Monday over rising operational costs due to the recent second devaluation of the naira currency within a year and over the state of the country’s roads, a union official said. The Nigerian Association of Road Transport Owners (NARTO), …
Nigeria fuel tanker union begins strike to protest rising costs Read More »
JOHANNESBURG (Reuters) -The South African rand slipped on Monday against a stronger dollar as investors waited for local unemployment figures on Tuesday and the finance minister’s budget speech on Wednesday. The rand traded at 18.9800 against the dollar by 1519 GMT, 0.45% weaker than its previous close. The dollar inched up around 0.1% against a …
South African rand slips against stronger dollar; stocks edge lower Read More »
By Harry Robertson and Ankur Banerjee LONDON/SINGAPORE (Reuters) -The dollar inched higher on Monday after rising for the fifth week straight on the back of strong inflation data, while the yen traded near the psychologically important 150 level. U.S. markets are closed for the Presidents’ Day holiday, with trading volumes likely to be low throughout …
Dollar ticks up as investors gauge rates outlook Read More »
By Chijioke Ohuocha ABUJA (Reuters) – The Nigerian naira fell to record lows on both the official and unofficial markets on Monday, while stocks posted their biggest one-day fall in more than a year, as jittery investors sold off local assets. The currency dropped to 1,712 naira per dollar in late trades on the official …
By Nell Mackenzie LONDON (Reuters) -World shares struggled to climb on Monday after the chances of early interest rate cuts globally receded and Chinese markets recorded modest gains on their return from the lunar new year break. A holiday for U.S. markets made for thin trading, and results from AI star Nvidia on Wednesday could …
World shares flattened by stubborn inflation and slow China growth Read More »
(Reuters) -Anglo American Platinum (Amplats) plans to cut thousands of jobs at its mines in South Africa, it said on Monday, after profit plunged by 71% last year. The company said it was embarking on a restructuring that could affect about 3,700 jobs at its South African operations, or 17% of the Anglo American unit’s …
Amplats plans to cut thousands of jobs after profit plunge Read More »
DAKAR (Reuters) – Niger last week missed a debt payment of 13.4 billion CFA francs ($22 million), the West African debt management agency said on Monday, bringing the total default to some $519 million since a July coup and its suspension from regional financial markets. The West African monetary union debt management agency UMOA Titres …
Niger misses debt payment, default up to almost $520 million Read More »
JOHANNESBURG (Reuters) -Telkom, South Africa’s third-biggest telecom company, reported flat third-quarter core profit on Monday, as cost-reduction initiatives partially offset inflationary pressures, expenses due to power cuts and increased bad debt provisions. The earnings before interest, tax, depreciation and amortisation (EBITDA) was stable at 2.5 billion rand ($132.45 million) in the three months ended Dec. …
S.Africa’s Telkom Q3 profit flat, revenue rises on value propositions Read More »
GABORONE (Reuters) – Lucara Diamond has revived a gem sales agreement with polishing and trading company HB Antwerp, it said on Monday, five months after severing ties with the Belgian business. Canadian miner Lucara said it will supply HB Antwerp with rough diamonds of 10.8 carats and above for 10 years from last December. Lucara …
Lucara Diamond revives sales deal with gem trader HB Antwerp Read More »
(Reuters) -Singapore’s Olam Group said on Monday its investigation team did not identify any evidence that its Nigeria unit was involved in an alleged multi-billion dollar foreign exchange fraud. Last year, the Daily Nigerian and Prime Business Africa had reported that Nigeria’s secret police was investigating the company’s units, Olam Nigeria and Olam International, and …
Olam Group says no evidence its Nigeria unit was involved in alleged forex fraud Read More »
