NAIROBI (Reuters) – Kenya’s government said on Thursday that it would buy back more than $1.4 billion of its $2 billion international bond maturing in June, announcing the results of a tender offer it launched last week. The East African country has been on the radar of investors because they feared it might not be …
Kenya to buy back over $1.4 billion of bond that had unnerved investors Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell for a second straight session on Thursday after a mixed, but overall solid batch of U.S. economic data, which is unlikely to stop the Federal Reserve from cutting interest rates by June, the first since the pandemic. The U.S. dollar index was last down 0.4% …
US dollar retreats as slew of data keeps rate cut expectations in June intact Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -Global stock indexes advanced, Treasury yields declined and the dollar weakened against the Japanese yen on Thursday after a larger-than-expected drop in U.S. retail sales in January prompted a slight repositioning of expectations for interest rate cuts. The U.S. Commerce Department report showed retail sales dropped 0.8% last month, …
Stocks climb, yields and dollar ease after US retail sales Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 1% on Thursday after U.S. retail data prompted a sell-off in the dollar, though investors eyed an International Energy Agency (IEA) report that flagged slowing demand growth this year. Brent crude futures settled up $1.26, or 1.5%, at $82.86 a barrel. U.S. West Texas Intermediate …
Oil rises over 1% after U.S. data weighs on dollar Read More »
By Rachel Savage and Marc Jones JOHANNESBURG/LONDON (Reuters) -Kenya has just taken a calculated risk that paying more than 10% on a new international bond is worth it to avoid a default later in the year, even though history is littered with examples of this kind of gamble ending in tears. While interest rates have …
Kenya’s double-digit debt costs sign of the tough times Read More »
(Reuters) – Junta-led Burkina Faso, Mali and Niger plan to proceed with the establishment of a confederation, the Malian foreign ministry said on Thursday, as the three countries deepen ties via an alliance that threatens broader West African integration. The neighbours in the impoverished Sahel region announced in January they would quit the Economic Community …
Junta-led Sahel states confirm plan to form tri-state confederation – ministry Read More »
By Amindeh Blaise Atabong YAOUNDE (Reuters) – Cameroon’s power utility Eneo is working to restructure debts and dealing with a liquidity problem, the CEO said on Thursday as it confirmed its major shareholder, investment fund Actis, planned to sell its stake to the government. British private equity firm Actis, which has been bought by New …
Cameroon’s power firm grapples with debts as investor Actis prepares exit Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s central bank has set a limit on foreign currency transfers from crude export proceeds by international oil companies to their parent firms, in its latest measure to improve dollar supply in the local currency market. In a circular dated Feb. 14, the Central Bank of Nigeria said banks …
Nigeria central bank sets limits on oil firms’ FX transfers from crude Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Thursday as the dollar fell after a mixed batch of U.S. economic data. At 1608 GMT, the rand traded at 18.9800 against the U.S. dollar, about 0.4% stronger than its previous close. The dollar was down about 0.25% against a basket of global currencies, after new data …
South African rand strengthens against weaker dollar Read More »
By Ahmad Ghaddar, Robert Harvey and Julia Payne LONDON/BRUSSELS (Reuters) -Nigeria’s Dangote oil refinery has issued tenders to sell two fuel cargoes for export, the first from the newly commissioned refinery, a tender document showed and trading sources with knowledge of the matter told Reuters. The refinery, Africa’s largest with a nameplate capacity of 650,000 …
Exclusive-Nigeria’s new Dangote refinery to export first fuel cargoes Read More »
