NAIROBI (Reuters) – Kenya’s Court of Appeal on Friday refused to extend a stay that had allowed the government to continue collecting a 1.5% levy to fund affordable housing despite a lower court having found the measure unconstitutional. The levy was part of a finance law adopted in June that also doubled the value-added tax …
Kenyan court refuses to stay ruling invalidating housing levy Read More »
By Neha Arora and Hritam Mukherjee NEW DELHI (Reuters) -Planned job cuts in Britain by India’s Tata Steel were the “least bad option,” and the company will continue to hold talks with unions and hopes to reach a conclusion over the next two months, CEO T V Narendran said. The steelmaker will close its two …
Tata Steel CEO says job cuts in Britain “least bad option,” will continue talks Read More »
By Tarek Amara TUNIS (Reuters) – The Tunisian cabinet approved on Thursday a controversial bill allowing the central bank to finance the treasury, in a move aimed at financing the budget deficit but which reinforced fears over the bank’s independence. Last year, President Kais Saied said the law must be reviewed to allow the central …
Tunisian cabinet approves bill allowing the central bank to finance the treasury Read More »
By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) -Global stocks rose on Thursday while the euro fell as Europe’s central bank kept rates unchanged, and U.S. Treasury yields declined after data showed the U.S. economy grew more quickly than expected in the fourth quarter. The U.S. economy grew as strong consumer spending defied recession …
Stocks edge higher while euro falls with US Treasury yields Read More »
By Nicole Jao NEW YORK (Reuters) – Oil prices gained about 3% on Thursday to settle at their highest since December after U.S. economic data showed faster-than-expected growth in the last quarter and as tensions in the Red Sea kept disrupting global trade. Brent crude futures settled up $2.39, or 2.99%, to $82.43 a barrel. …
Oil jumps, settles up 3% on strong US economy, Red Sea tensions Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar rose on Thursday after data showed the world’s largest economy grew at a faster pace than expected in the fourth quarter, suggesting the Federal Reserve would be in no rush to cut interest rates. The dollar index, a gauge of the greenback’s value versus six major …
US dollar gains after GDP data; euro falls to six-week low after dovish ECB, Lagarde Read More »
ALGIERS (Reuters) – Algeria’ CPA bank (Credit Populaire Algerian) will open up 30% of its capital for private investment, the bank said in statement on Thursday. The state-owned bank added its share is estimated at 2,500 Algerian dinars ($18.66), and it will sell 60 million shares. Algeria’s president Abdelmadjid Tebboune has said last year he …
Algeria’s CPA bank to open up 30% of its capital Read More »
JOHANNESBURG (Reuters) -South Africa’s rand was steady on Thursday, little affected by the central bank’s decision to leave interest rates unchanged and the release of data showing a slowdown in producer price inflation. At 1558 GMT the rand traded at 18.8800 against the U.S. dollar, near its previous close of 18.8825. The South African currency …
South African rand little changed after rate hold, PPI drop Read More »
By Kopano Gumbi, Nellie Peyton and Bhargav Acharya PRETORIA (Reuters) -South Africa’s central bank maintained its key lending rate as economists expected on Thursday, saying it did not yet see a clear disinflation trend that would justify cutting rates. It was the fourth meeting in a row that the bank left its repo rate on …
South African central bank wants clearer disinflation trend before cutting rates Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s Mainstream Energy, which already runs two of the country’s biggest hydroelectric plants, has begun operating a new Chinese-funded facility, nearly a year after winning the concession, the utility said on Thursday. Mainstream Energy Solution Ltd said its subsidiary Penstock Energy Ltd is running the new 700 megawatts plant …
Nigerian company begins operating $1.3bln Chinese-funded power plant Read More »
