(Reuters) -Ethiopia appeared to be on the brink of a debt default on Friday after talks with key holders of the African country’s $1 billion international bond ended without agreement. The combined cost of the COVID pandemic and the recently-ended civil war in its northern Tigray region has left Ethiopia, long seen as one of …
Ethiopia edges towards default as bondholder talks falter Read More »
HARARE (Reuters) – Zimbabwe said on Friday that career banker John Mushayavanhu would take over as its central bank governor next year. President Emmerson Mnangagwa’s government said in a statement that Mushayavanhu has more than 30 years of experience at banks including Standard Chartered Bank and FBC Bank. Mushayavanhu will replace John Mangudya, whose 10-year …
Zimbabwe names Mushayavanhu as next central bank governor Read More »
By Aidan Lewis and Patrick Werr CAIRO (Reuters) – Egypt holds a presidential election on Dec. 10-12 in which Abdel Fattah al-Sisi is set to secure a third term amid an economic crisis that has seen the Egyptian pound tumbling, foreign currency drying up and inflation soaring. WHAT CAUSED EGYPT’S ECONOMIC WOES? Some causes date …
Explainer-How deep are Egypt’s economic troubles? Read More »
By Bhargav Acharya JOHANNESBURG (Reuters) -South Africa’s government on Friday appointed Dan Marokane as its next Chief Executive Officer of its state power firm Eskom, which has implemented the worst rolling blackouts on record this year. Marokane, who previously held senior Eskom positions, including as its head of group capital, will rejoin no later than …
South Africa picks Marokane as next CEO of power firm Eskom Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Friday after a surge in U.S. payrolls gains dampened hopes of an early interest rate cut by the Federal Reserve. At 1439 GMT, the rand traded at 18.9250 against the dollar, about 0.9% weaker than its previous close. The dollar index was last trading up …
South African rand weakens after surge in U.S. payrolls gains Read More »
(Reuters) -Voters in Democratic Republic of Congo go to the polls on Dec. 20 and international investors are keenly watching to see if a political shake-up occurs in one of the world’s top suppliers of critical minerals. A win for President Felix Tshisekedi would likely mean a continuation of his goal to lure more foreign …
Explainer-What is at stake for investors in Congo’s election? Read More »
LONDON (Reuters) – The United Nations food agency’s world price index was unchanged in November from the month before, with lower international cereal prices offset by higher prices of vegetable oils. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 120.4 points in November, 10.7% lower than …
World food price index unchanged in November – FAO Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The Japanese yen jumped on Thursday as Bank of Japan policymakers hinted the central bank may shift away from its ultra-low interest rate plan and a gauge of global stocks rose after three straight falls as investors assessed the latest round of U.S. labor market data. The yen surged …
Yen surges on possible Bank of Japan shift, stocks climb Read More »
By Felix Onuah ABUJA (Reuters) -Shell sees a $5 billion offshore oil investment opportunity in Nigeria and pledged to spend a further $1 billion in five to 10 years to boost natural gas output for domestic supplies and exports, a presidential spokesperson said on Thursday, citing Shell’s director of gas and upstream operations. Nigerian President …
Shell sees $6 billion oil, gas investments in Nigeria, presidency says Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell on Thursday to six-month lows, as investors worried about sluggish energy demand in the United States and China while output from the U.S. remains near record highs. Brent crude futures dropped 25 cents to $74.05 a barrel. U.S. West Texas Intermediate crude futures fell 4 cents …
Oil drops to 6-month low on weak economic outlook, high U.S. supply Read More »
