DUBAI (Reuters) – Cities are receiving only a fraction of the climate finance they need, especially in low-income countries, according to a study published on Saturday on the sidelines of the COP28 climate talks. The Cities Climate Finance Leadership Alliance (CCFLA) said cities are on the front line of climate hazards and responsible for three …
Cities face huge climate finance gap, study says Read More »
By Timothy Gardner WASHINGTON (Reuters) – The U.S., EU and UK are pressuring Liberia, the Marshall Islands and Panama to increase oversight of ships carrying their flags to ensure they do not transport Russian oil sold above the price cap, a source who has seen the communications to the countries said on Friday. The move …
By Nicole Jao NEW YORK (Reuters) -Oil prices slumped more than 2% on Friday on investor skepticism about the depth of OPEC+ supply cuts and concern about sluggish global manufacturing activity. Brent crude futures for February settled down $1.98, or 2.45%, at $78.88 a barrel. U.S. West Texas Intermediate crude futures (WTI) dropped $1.89, or …
Oil prices fall more than 2% as investors skeptical of OPEC+ cuts Read More »
By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) -MSCI’s global stock index rose on Friday and marked its fifth straight weekly gain while U.S. Treasury yields and the dollar fell on the day as investors were encouraged by Federal Reserve Chair Jerome Powell’s vow to move “carefully” on interest rates. Treasury yields fell after …
Shares climb, dollar falls with Fed comments inspiring dovish bets Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar fell on Friday, after two days of gains, as Federal Reserve Chair Jerome Powell struck a cautious tone on further interest rate moves, saying that the risk of under- or over-tightening is now more balanced. The market viewed his comments as dovish, with investors pricing in expectations …
US dollar falls on dovish remarks by Fed’s Powell Read More »
By Rachel Savage JOHANNESBURG (Reuters) -Ethiopia’s agreement with its bilateral creditors, other than China, to suspend debt payments until 2025 could be voided if the country does not secure an International Monetary Fund (IMF) loan by March 31, 2024, the Paris Club of developed creditor nations said. The debt service standstill for 2023 and 2024, …
Ethiopia debt service pause contingent on IMF deal by end-March -Paris Club Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Tiger Brands, South Africa’s biggest food producer, is taking action to stay competitive in the face of high input costs that have still not come down significantly, and trading down by consumers in response to high prices. Consumer goods producers globally have raised prices to cope with surging costs for …
Tiger Brands sees no respite from high food prices yet for consumers Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened against the dollar on Friday, reversing its losses from the previous day, as U.S. Federal Reserve Chair Jerome Powell said the Fed would move “carefully” on interest rates. At 1619 GMT, the rand traded at 18.6150 against the dollar, about 1.2% stronger than its previous close. The dollar was …
South African rand gains after comments by Fed’s Powell Read More »
ABUJA (Reuters) – Nigeria’s naira dropped to a record low against the dollar on Friday on the official market, close to the rate at which it trades on the unofficial parallel market. The currency of Africa’s biggest economy fell as low as 1,160 naira to the dollar, LSEG data showed, before recovering to around 800 …
Nigeria naira hits record low near unofficial market rate Read More »
By Nelson Banya JOHANNESBURG (Reuters) -South Africa handed Transnet a 47 billion rand ($2.5 billion) lifeline on Friday, which it said would help the state-owned rail and ports firm meet its immediate debt obligations. Transnet has struggled to provide adequate freight rail and port services in South Africa due to equipment shortages and maintenance backlogs …
South Africa throws troubled Transnet $2.5 billion lifeline Read More »
