By Nyasha Chingono HARARE (Reuters) – The World Food Programme is planning to feed 270,000 hungry Zimbabweans over the next three months, an official said on Friday, as the country braces for a poor harvest due to an El Nino-induced drought. The southern African country has been struggling to feed itself since 2000, when former …
WFP plans food relief for 270,000 Zimbabweans, poor harvest expected Read More »
By Giselda Vagnoni ROME (Reuters) -Supporting African development and tackling the dangers posed by artificial intelligence (AI) will be two key themes for Italy during its one-year presidency of the Group of Seven, Italian Prime Minister Giorgia Meloni said on Thursday. Speaking at a wide-ranging news conference, Meloni added that Italy would maintain its support …
Italy to put Africa development, AI at heart of its G7 presidency Read More »
By Herbert Lash NEW YORK (Reuters) – Bonds sold off and global equity markets failed to fully shake off New Year blues on Thursday after U.S. unemployment data indicated a resilient labor market, tempering expectations of Federal Reserve interest rate cuts in 2024. The yield on 10-year Treasuries jumped above 4% in a sharp reversal …
Global stocks stumble as yields rise on tight US labor market Read More »
By Laura Sanicola (Reuters) -Oil settled lower on Thursday in a choppy see-saw session, as massive weekly gasoline and distillate stock builds overshadowed a larger-than-expected crude stock draw. Brent crude settled down 66 cents, or 0.8%, to $77.59. During the session it both rose and fell over $1. U.S. West Texas Intermediate crude futures settled …
Oil settles lower on massive US fuel inventory builds Read More »
(Reuters) -South Africa needs a massive power plant construction programme to ensure adequate electricity supply up to 2050, a government planning document released for public comment on Thursday showed. Africa’s most industrialised economy has suffered power cuts for more than a decade which have held back growth, reaching record levels last year lasting up to …
South African power plan points to need for massive plant build Read More »
LAGOS (Reuters) – Nigerian state-owned oil firm NNPC Ltd will complete test runs at the Port Harcourt refinery in the south this month, in a major step towards resuming operations five years after the plant was shut, the company said on Thursday. “Testing will conclude shortly, ensuring the refinery’s efficient operation. That phase will be …
Nigeria’s Port Harcourt oil refinery to complete test run this month Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s economic and financial crimes agency on Thursday inspected Dangote Group’s books as part of investigations into possible past misuse of foreign currency sourced from the central bank, two sources at the agency said. The Dangote Group, which counts cement and fertiliser manufacturing and sugar refining among its businesses, …
Nigeria’s anti-graft body visits Dangote Group in forex probe -sources Read More »
CAIRO (Reuters) – Egypt initialed an agreement with Abu Dhabi’s AD Ports Group to develop, operate and maintain terminals for passengers and cruise lines at the Red Sea ports of Hurghada, Safaga and Sharm El Sheikh, its transport ministry said on Thursday. The contract will also commit AD Ports Group to develop yacht and cruise …
Egypt agrees with AD Ports to develop Red Sea tourism terminals Read More »
JOHANNESBURG (Reuters) -The South African rand was broadly unchanged on Thursday, as a purchasing managers’ index (PMI) survey flagged the impact of a gridlock at a major port. At 1525 GMT, the rand traded at 18.69 against the dollar, 0.1% stronger than its previous close. The dollar was 0.1% weaker against a basket of global …
South African rand little changed as PMI dips on port gridlock Read More »
NAIROBI (Reuters) – Nigeria’s naira and the Kenyan and Ugandan shillings are expected to weaken in the next week to Thursday, while Ghana’s cedi and Zambia’s kwacha could be steady, traders said. KENYA Kenya’s shilling is seen falling on increased demand for dollars from sectors including manufacturing. Commercial banks quoted the shilling at 157.00/158.00 per …
AFRICA-FX-Nigerian, Kenyan and Ugandan currencies seen falling Read More »
