By Sinéad Carew NEW YORK (Reuters) – MSCI’s global equities index fell more than 1% on Wednesday after nine straight days of gains while Treasury yields fell as U.S. economic data beat expectations and UK inflation slowed at a rate that took markets by surprise. Oil prices settled slightly higher after hitting their highest level …
Equities turn red, Treasuries dip with economic data in focus Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against a basket of currencies on Wednesday as a late-session selloff on Wall Street boosted the U.S. currency’s safe-haven appeal, and as data on sharply falling UK inflation prompted a steep drop in the British pound. U.S. stocks closed lower on Wednesday after an abrupt …
Dollar rises on safe-haven bid, big UK inflation drop hits pound Read More »
By Laura Sanicola (Reuters) -Oil prices settled slightly higher after a choppy trading session on Wednesday as investors worried about global trade disruption and tensions in the Middle East following attacks on ships by Yemen’s Iran-aligned Houthi forces in the Red Sea. Limiting price gains were a surprise U.S. crude inventory build, larger than expected …
Oil settles up on Red Sea tensions; gains capped by US stock builds Read More »
By Rachel Savage and Anait Miridzhanian JOHANNESBURG (Reuters) – The International Monetary Fund’s board on Wednesday approved an immediate $187 million loan payout to Zambia and said the country was revising a restructuring proposal for $3 billion of bonds that official creditors had rejected last month. It will be the third payout under the southern …
IMF releases $187 million Zambia payout, says restructuring proposal being revised Read More »
By Patrick Werr CAIRO (Reuters) -Egypt’s sovereign wealth fund has signed an $800 million deal to sell a stake in seven prominent hotels to Egypt’s Talaat Moustafa Group (TMG) in its drive to raise funds and foreign currency, Prime Minister Mostafa Madbouly said on Wednesday. Revenues from selling stakes in state assets have reached $5.6 …
Egypt raises $800 million from hotels in divestment drive – PM Read More »
LAGOS (Reuters) – Nigeria’s new $19 billion Dangote oil refinery has received 1 million barrels of oil from state-owned oil company NNPC Ltd, its second crude cargo this month, as it steps up preparations to begin operations, a Dangote spokesperson said on Wednesday. The refinery is years behind schedule but its operations are expected to …
Nigeria’s Dangote refinery gets 1 million barrel crude cargo from NNPC Read More »
(Reuters) -South Africa’s rand advanced against the U.S. dollar in thin trade on Wednesday, with analysts saying the currency was drifting on global market factors in the absence of domestic economic data releases. Stocks on the Johannesburg bourse were little changed. By 1515 GMT, the rand was at 18.2400 to the dollar, about 0.4% stronger …
South African rand firmer in thin trade; stocks flat Read More »
By Joe Bavier JOHANNESBURG (Reuters) -The African Development Bank (AfDB) will “immediately” withdraw all its international employees from Ethiopia following an assault on its staff members by government security forces, the institution said on Wednesday. The AfDB lodged a formal complaint with Ethiopian authorities last month, calling the physical assault and hours-long detention of two …
AfDB to withdraw international staff from Ethiopia after assault Read More »
NAIROBI (Reuters) – Carrefour’s franchisee in Kenya, the United Arab Emirates-based Majid al Futtaim (MAF), said on Wednesday it will appeal against a 1.1 billion shilling ($7.14 million) penalty imposed by the competition authority for alleged abuse of buying power. The regulator Competition Authority of Kenya on Tuesday announced the fine, a record high in …
Carrefour’s Kenya franchisee says it will appeal $7.2 million penalty Read More »
BENGALURU (Reuters) -Shares in Pepsi India bottler Varun Beverages soared as much as 17.8% to a record high on Wednesday, a day after the company said it would buy South Africa’s The Beverage Company in a deal valued at 13.2 billion rupees ($158.73 million). Varun Beverages, one of PepsiCo’s largest franchisees outside the United States, …
India’s Varun Beverages hits record high on S.Africa foray Read More »
