KAMPALA (Reuters) -Uganda’s September coffee exports jumped 59% year-on-year, boosted by a copious crop in parts of the East African nation, the agriculture ministry said on Wednesday. In September, Africa’s largest coffee exporter shipped 844,949 60-kg bags of the beans, compared with 532,212 bags exported in the same period last year, the ministry said in …
Uganda September coffee exports surge 59% on bumper crop Read More »
By Georgina McCartney HOUSTON (Reuters) -Oil prices slipped about 2% on Tuesday, marking a third straight day of declines as investors considered the impact of U.S. sanctions against Russia’s two biggest oil companies on global supply, along with a potential OPEC+ plan to raise output. Brent crude futures settled down $1.22, or 1.9%, to $64.40 …
Oil falls 2% as investors weigh Russia sanctions, OPEC+ output plans Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -Global shares ascended to an intraday record on Tuesday, buoyed by signs of cooling trade tensions between the U.S. and China and by gains in technology shares, while investors awaited a Federal Reserve policy decision and digested corporate earnings. The U.S. Federal Reserve on Wednesday will kick off a …
Stocks hit record high on tech lift as Fed, earnings eyed Read More »
By Karen Brettell NEW YORK (Reuters) -The Japanese yen gained on Tuesday, rebounding from seven consecutive days of losses against the U.S. dollar, after comments from a Japanese minister and U.S. Treasury Secretary Scott Bessent eased some concerns about more expansionary fiscal and monetary policy in the country. Japan’s new economic revitalization minister, Minoru Kiuchi said …
Japanese yen strengthens after officials ease policy concerns Read More »
JOHANNESBURG (Reuters) -The International Monetary Fund will visit Mozambique in November to continue discussions on the Southern African country’s macroeconomic challenges and possible financial support, its mission chief said on Tuesday. The visit comes as TotalEnergies prepares to resume work on its multibillion-dollar liquefied natural gas project, which is seen boosting economic growth and fiscal …
IMF to visit Mozambique next month for more talks on support options Read More »
MAPUTO (Reuters) -Mozambique’s cabinet met on Tuesday, but it did not take a position on the updated budget and schedule for the mammoth liquefied natural gas project TotalEnergies is leading in the country and will only give a view later, a government spokesperson said. The French oil major told Mozambique’s president on Friday that the …
Mozambique will give position on revised budget for TotalEnergies LNG project later Read More »
(Corrects paragraph 3 to say 2033, not 2022) DAKAR -Senegal’s international bonds fell on Tuesday, a day after Prime Minister Ousmane Sonko said the government would lower the public’s electricity and fuel costs. The move has raised investor concerns over the debt-laden country’s fiscal strategy amid ongoing discussions with the International Monetary Fund. The 2028 …
Senegal bonds slide as PM Sonko pledges cuts to people’s energy costs Read More »
JOHANNESBURG (Reuters) -The South African rand was flat on Tuesday, as global traders awaited a U.S. interest-rate decision and a possible trade deal between the U.S. and China, the world’s two biggest economies. At 1406 GMT the rand traded at 17.21 against the dollar, little changed from Monday’s closing level of 17.2275. Economists have said …
South African rand flat as investors focus on US rate decision Read More »
ABUJA (Reuters) -Nigeria’s tax agency has directed banks, stockbrokers and other financial institutions to deduct a 10% withholding tax on interest earned from investments in short-term securities, the Federal Inland Revenue Service said on Tuesday. Prior to this directive short-term bills were tax-exempt to boost return for investors. The new directive requires tax to be …
Nigeria to impose 10% withholding tax on interest on short-term securities Read More »
By Colleen Goko JOHANNESBURG -S&P Global Ratings said African regional development creditors are poised to expand lending to fill national financing gaps, as capital buffers strengthen and new frameworks increase their borrowing headroom. The ratings agency said Africa’s supranational lenders are increasingly central to plugging investment shortfalls and stabilising economies as external financing tightens. With …
African development banks set to expand lending as capital buffers rise, S&P says Read More »
