By Giulia Paravicini and Rachel Savage NAIROBI/JOHANNESBURG (Reuters) – Somalia is expected to get major debt relief this week, slashing its debt-to-GDP ratio to less than 6% in a historic move that would allow it to rejoin the international financial system after roughly 30 years. The war-scarred East African country is set for the relief …
Somalia expected to receive major debt relief this week Read More »
JOHANNESBURG (Reuters) -The South African rand fell against the dollar on Monday, weakened by expectations the U.S. Federal Reserve might not cut interest rates early next year and ahead of a week of local and global economic data releases. At 1511 GMT, the rand traded at 19.0925 against the dollar, over 0.6% weaker than its …
South African rand weaker on doubts over early Fed rate cut Read More »
DAKAR (Reuters) – Niger expects to export its first barrels of crude oil through a new Niger-Benin pipeline in January, the country’s military leader Abdourahamane Tiani said on state television. The PetroChina-backed export pipeline project was officially launched on Nov. 1, linking Niger’s Agadem oilfield to the Benin port of Cotonou. Storage tanks in Cotonou …
Niger aims to start oil exports from Benin pipeline in January, leader says Read More »
NAIROBI (Reuters) – Kenya Airways has told its customers to be prepared for potential disruptions to its flights schedule during the busy Christmas holiday season due to shortages of spare parts. The carrier, one of the biggest in Africa, said the lack of parts, which is affecting the global supply chain, would disrupt flights for …
Kenya Airways warns of disruptions in holiday season due to spare parts shortages Read More »
CAIRO (Reuters) -Egypt’s annual urban consumer price inflation dropped to 34.6% in November from 35.8% in October, pulled down by a slowdown in the rate of food price increases, data from the statistics agency CAPMAS showed on Sunday. Annual inflation was slightly lower than predicted by analysts. The median forecast of 18 analysts polled had …
Egypt’s headline inflation dips to 34.6% in November Read More »
(Reuters) – Ratings agency Moody’s on Friday revised its outlook on Nigeria to positive from stable, citing possible reversal of the deterioration in the country’s fiscal and external position due to authorities’ reform efforts. The agency also affirmed its “Caa1” long-term foreign currency and local currency issuer ratings. Nigerian President Bola Tinubu is seeking to …
By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s government is considering handing over its stake in 11 power utilities to state governments to improve oversight and address the country’s chronic power shortages, the minister of power said on Friday. The federal government holds a 40% interest in 11 power distribution companies (DISCOs) that were privatised a …
Nigeria mulls handing over power utilities to state governments Read More »
By Shariq Khan BENGALURU (Reuters) -Oil prices rose more than 2% on Friday after U.S. data supported expectations of demand growth, but both benchmarks fell for a seventh straight week, their longest streak of weekly declines in half a decade, on lingering oversupply concerns. Brent crude futures settled at $75.84 a barrel, up$1.79, or 2.4%, …
Oil gains over 2% but records seventh weekly decline Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -A gauge of global stocks rose on Friday, on pace for its sixth straight week of gains, while U.S. Treasury yields shot higher after a strong U.S. jobs report forced markets to modify expectations for the timing of rate cuts by the Federal Reserve. U.S. job growth accelerated in …
Stocks gain, Treasury yields jump after US job report Read More »
By Hannah Lang WASHINGTON (Reuters) -The dollar rose on Friday after new data showed U.S. job growth accelerated in November and the unemployment rate dropped, pointing to underlying strength in the labor market. The U.S. dollar index was last up 0.3% at 104.0, on track for a modest weekly gain after a bruising November, in …
Dollar up after strong US jobs data, takes back some losses from yen Read More »
