By Shariq Khan BENGALURU (Reuters) -Oil prices rose more than a dollar a barrel on Tuesday, extending the previous session’s gains after attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced more companies to reroute vessels. Brent crude futures rose $1.28, or 1.6%, to settle at $79.23 …
Oil rises 1% as Red Sea shipping concerns unnerve traders Read More »
By Sinéad Carew New York (Reuters) -The U.S. dollar rose against the yen on Tuesday after the Bank of Japan kept rates steady while MSCI’s global stock index was gaining ground as investors focused on the prospect of U.S. interest rate cuts in 2024. The S&P 500 rose to within one percentage point of its …
Dollar rises vs yen while stocks gain on rate optimism Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose against the yen on Tuesday after the Bank of Japan gave no sign that its ultra-loose monetary policy was set to end, but expectations for interest rate cuts next year continued to weigh against the greenback more broadly. The Bank of Japan maintained its …
Dollar rises vs yen as BOJ sticks with ultra-loose policy Read More »
By Ahmed Eljechtimi RABAT (Reuters) -Morocco’s central bank left its benchmark interest rate unchanged at 3% on Tuesday, judging the rate was appropriate to keep prices stable. Inflation, driven by food prices, would stand on average at 6.1% this year, down from 6.6% last year, the bank said in a statement following its quarterly board …
Moroccan central bank keeps benchmark rate at 3% Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Tuesday against a weaker U.S. dollar, as global market sentiment was buoyed by expectations of interest rate cuts in 2024 and a local leading business cycle indicator came in line with expectations. At 1605 GMT, the rand traded at 18.3200 against the dollar, 1.4% firmer than its …
South African rand firms as rate cuts eyed next year Read More »
NAIROBI (Reuters) – COVID-19 vaccine maker BioNTech aims to start production at its mRNA vaccine factory site in Rwanda in 2025, company officials said on Monday, the first foreign company mRNA vaccine manufacturing site on the continent. The German company’s first modular factory elements, based on shipping containers, were delivered to the Kigali construction site …
BioNTech aims to start mRNA vaccine output in Rwanda in 2025 Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana’s cocoa marketing board has signed an $800 million syndicated loan with banks and expects to draw down the first $600 million as soon as this week, its deputy chief executive officer said on Tuesday. Ghana, the world’s second-largest cocoa producer behind neighbouring Ivory Coast, uses an annual syndicated …
Ghana’s cocoa board inks $800 million loan and seeks quick drawdown Read More »
NAIROBI (Reuters) -Kenya’s competition authority said on Tuesday it has penalised the local Carrefour franchise holder, UAE-based Majid al Futtaim, 1.1 billion Kenyan shillings ($7.15 million) for abusing its ability to set terms to suppliers. “The supermarket chain is required to amend all its supplier contracts and expunge clauses that facilitate abuse of buyer power,” …
Kenya fines Carrefour franchisee $7.2 million for abuse of buyer power Read More »
By Maytaal Angel and Dewi Kurniawati LONDON/JAKARTA (Reuters) – Importers of coffee to the European Union are starting to scale back purchases from small farmers in Africa and beyond as they prepare for a landmark EU law that will ban the sale of goods linked to the destruction of forests, a cause of climate change. …
Coffee firms turning away from Africa as EU deforestation law looms Read More »
NAIROBI (Reuters) – Rwanda’s economy is expected to grow 6.6% in 2024, up from this year’s figure of 6.2%, the finance minister and central bank governor told the International Monetary Fund in a letter. In February, Finance Minister Uzziel Ndagijimana had forecast economic growth of about 7.5% for the East African country in 2024 and …
Rwanda says GDP growth expected to rise in 2024, still below 2022 figure Read More »
