By Nicole Jao LONDON (Reuters) -Oil prices gained more than 3% on Thursday on concerns of a broadening conflict in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent futures closed up $2.42, or 3%, to $81.36 a barrel. U.S. West Texas Intermediate crude climbed $2.36, or 3.2%, to $76.22. The Brent …
Oil up 3% on Gaza ceasefire rejection and US fuel stocks data Read More »
By Herbert Lash and Samuel Indyk NEW YORK/LONDON (Reuters) -The dollar rose on Thursday after data on unemployment benefits again pointed to a resilient U.S. labor market, reinforcing the Federal Reserve’s message that interest rates are unlikely to be cut in the near term. The number of Americans filing new claims for unemployment benefits fell …
Dollar gains as jobless claims affirm resilient US labor market Read More »
CAIRO (Reuters) – Egypt’s annual urban consumer price inflation dropped to 29.8% in January from 33.7% in December, the state statistics agency said on Thursday, coming in well below analysts’ expectations. Month-on-month, prices rose by 1.6% in January, up from 1.4% in December. Food prices climbed by 1.4%, down from 2.1% in December. In the …
Egypt inflation slows more than expected in January Read More »
CAIRO (Reuters) – Germany will receive its first supplies of pipeline natural gas from Algeria under a medium-term contract signed between a subsidiary of trader VNG AG and state-owned oil and gas firm Sonatrach, the companies said on Thursday. “We are happy to strengthen our energy business partnerships with Europe through this landmark agreement with …
Algeria’s Sonatrach to supply Germany with pipeline gas for first time Read More »
By America Hernandez PARIS (Reuters) – French energy giant TotalEnergies is seeking to sell its minority share in a major Nigerian onshore oil joint venture, following Shell’s divestment last month, CEO Patrick Pouyanne said. The Shell Petroleum Development Company of Nigeria Limited (SPDC), in which TotalEnergies holds a 10% stake, has struggled with hundreds of …
TotalEnergies looks to exit Nigerian onshore oil, following Shell Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s main unions on Thursday gave a two-week ultimatum to the government to meet demands ranging from wage hikes to improved access to public utilities, and accused it of failing to uphold pledges to soften the impact of reforms. The Nigerian Labour Congress (NLC) and Trade Union Congress (TUC), …
Nigeria’s unions tells government to cushion hardship caused by reforms Read More »
By Sarah El Safty and Farah Saafan CAIRO (Reuters) – Egyptian women traditionally receive a gold jewellery set, or “shabka”, on their engagement. But as surging prices and a weakening currency have driven up demand for the precious metal, some are getting silver instead. The trend is a measure of an economic crisis in which …
‘Silver is the new gold’ as Egyptians try to protect savings Read More »
By Camillus Eboh ABUJA (Reuters) – Nigerian state-oil company NNPC said on Thursday it has no plans to raise petrol prices after a second devaluation of the local naira currency in less than a year, following speculation that it could increase prices to recover some of its import costs. The official naira exchange rate last …
Nigeria’s NNPC has no plans to raise petrol prices after devaluation Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Thursday ahead of President Cyril Ramaphosa’s annual address to parliament later in the day. At 1529 GMT, the rand traded at 18.9700 against a broadly stronger dollar, 0.42% lower than its previous close. The dollar was last up 0.26% against a basket of global currencies. Investors will be …
South African rand slips ahead of president’s speech Read More »
By Nyasha Chingono HARARE (Reuters) – Zimbabwe’s central bank and finance ministry are working on measures to stabilise the local currency, the central bank governor said. The Zimbabwean dollar has fallen about 40% since the start of the year, hurt by increased foreign-currency demand from civil servants being paid December bonuses and weaker commodity prices …
Zimbabwe working on measures to stabilise currency, central bank governor says Read More »
