By Abdi Sheikh MOGADISHU (Reuters) – The East African Community trade bloc admitted Somalia as its eighth member on Friday, a move Somali authorities and businesses hope will boost the country’s war-ravaged economy. The EAC common market – which consists of Burundi, Democratic Republic of Congo, Kenya, Rwanda, South Sudan, Tanzania and Uganda – was …
Somalia joins east Africa trade bloc as it eyes new opportunities Read More »
By Nia Williams (Reuters) -Oil prices dipped about 1% on Thursday, extending losses on expectations that OPEC+ might not deepen output cuts next year after the producer group postponed its policy meeting. Brent crude futures were down 68 cents, or about 0.8%, at $81.28 a barrel by 2024 GMT after falling as much as 4% …
Oil slips 1% on concerns over delayed OPEC+ meeting Read More »
By Marc Jones LONDON (Reuters) – World equity markets added to their best month since the COVID vaccine breakthroughs of late 2020 on Thursday as Europe digested another far-right election shock and oil skidded after OPEC+ postponed its weekend meeting. Traders were getting their moves in despite the annual U.S. Thanksgiving holiday scything volumes but …
Stocks maintain November reign, oil nagged by OPEC doubts Read More »
JOHANNESBURG (Reuters) -The South African rand was stronger on Thursday after the central bank maintained its key interest rate amid high inflation. At 1543 GMT, the rand traded at 18.8100 against the dollar, about 0.5% stronger than its previous close. The dollar <=USD> was last down around 0.13% against a basket of global currencies. South …
South African rand gains after central bank keeps rate unchanged Read More »
By Alex Lawler, Ahmad Ghaddar and Maha El Dahan LONDON (Reuters) -African members of OPEC+ producer group Angola and Nigeria are aiming for higher oil output, officials told Reuters on Thursday, a day after the group was forced to postpone talks on next year’s production policy. The Organization of the Petroleum Exporting Countries and allies …
Angola, Nigeria target higher oil output amid OPEC+ talks Read More »
By Amanda Cooper LONDON (Reuters) -The euro edged up on Thursday after data suggested the downturn in the euro zone economy may be starting to ease, although holidays in the U.S. and Japan kept trading activity muted. With markets shut in Japan and the U.S. for Thanksgiving holidays, currencies traded with some volatility, as liquidity …
Euro profits from better euro zone data; U.S. market shut Read More »
RABAT (Reuters) – Morocco’s competition council said on Thursday it had fined the nine fuel companies operating in the country 1.84 billion dirhams ($180 million) because of non-compliance with free competition rules and price fixing. The council said it had reached an agreement with the petrol and diesel companies and their professional groups to pay …
Morocco’s competition regulator fines fuel companies $180 million Read More »
By Kopano Gumbi, Anait Miridzhanian and Tannur Anders PRETORIA (Reuters) -South Africa’s central bank stuck to its previous hawkish tone on Thursday as it kept its main lending rate unchanged for the third meeting in a row and emphasised that logistics bottlenecks were denting the growth outlook. The unanimous decision to keep the repo rate …
South African central bank opts for another ‘hawkish hold’ Read More »
By Natalie Grover LONDON (Reuters) – Nigeria is ramping up its production targets ahead of a pivotal OPEC+ meeting set to decide on matters including how much oil Africa’s biggest crude producer should aim to pump next year. Nigeria was producing 1.7 million barrels per day of crude and condensates as of Nov. 17 and …
Nigeria lifts production targets ahead of OPEC+ meeting Read More »
(Reuters) – Nigeria’s naira, Kenya’s shilling and Zambia’s kwacha are expected to be under pressure in the next week to Thursday, while Ghana’s cedi and Uganda’s shilling will probably be stable, traders said. KENYA Kenya’s shilling is expected to extend its gradual march lower as foreign-currency demand ramps up from all sectors before the end …
AFRICA-FX-Nigerian, Kenyan and Zambian currencies seen under pressure Read More »
