By Duncan Miriri NAIROBI (Reuters) -Kenya’s President William Ruto said on Thursday the government was poised to privatise 35 state companies after enacting a law last month to guide the process. Kenya last privatised a state-owned company in 2008 with an initial public offering (IPO) for 25% of the shares in telecommunications firm Safaricom. “We …
Kenya to sell 35 state companies as Africa seeks to jumpstart IPOs Read More »
JOHANNESBURG (Reuters) -South African budget fashion retailer Mr Price reported on Thursday a 9.3% decline in half-year profit, hit by elevated levels of power cuts and as double-digit inflation in food and transport impacted its value customers more severely. It reported headline earnings per share, a profit measure, of 449.9 cents for the 26 weeks …
Power cuts hit South Africa’s Mr Price half-year profit Read More »
By Hari Kishan and Indradip Ghosh BENGALURU (Reuters) -Most key global stock indexes are forecast to rise modestly over the coming year, closing 2024 below record highs, while a slim majority of stock market experts polled by Reuters expected their markets to touch new peaks within the next six months. Much will depend on interest …
Global stock indexes forecast to rise modestly in 2024 Read More »
By Stephen Culp NEW YORK (Reuters) -U.S. stocks ended higher on Wednesday, led by interest rate-sensitive megacaps, while the dollar bounced back from a 2-1/2-month low as economic data suggested the labor market is not cooling as quickly as markets, or the Federal Reserve, might prefer. All three major U.S. stock indexes ended up ahead …
Wall St closes higher, dollar rebounds heading into US holiday Read More »
By Nicole Jao NEW YORK (Reuters) – Oil prices fell nearly 1% in a volatile session on Wednesday as OPEC+ producers unexpectedly delayed a meeting on production cuts, raising questions about global crude supplies. Brent futures settled 49 cents lower to $81.96 a barrel, after falling more than 4% to a low of $78.41 earlier …
Oil edges lower in choppy trade as OPEC+ delays meeting Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar index rose on Wednesday, rebounding from a 2-1/2 month low after economic data showed the number of Americans filing new claims for unemployment benefits fell more than expected last week. Initial claims for state unemployment benefits dropped by 24,000 to a seasonally adjusted 209,000 for the week …
Dollar climbs after U.S. labor, consumer sentiment data Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against the U.S. dollar on Wednesday after local data showed higher-than-forecast inflation in October. At 1636 GMT, the rand traded at 18.8375 against the dollar, around 1% weaker than its previous close. The dollar was last up around 0.5% against a basket of major currencies. Headline consumer inflation rose …
South African rand dips as inflation spikes; shares edge up Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s Senate passed the medium-term expenditure framework for 2024-2026 on Wednesday, setting out the government’s fiscal plan for the next three years. Lawmakers in the House of Representatives, the lower arm of parliament, had passed the framework on Tuesday. The framework, a key document in the Nigerian budget process, …
Nigeria lawmakers approve mid-term fiscal plan for next three years Read More »
(Reuters) – South Africa’s Nedbank Group on Wednesday appointed Jason Quinn, former finance director at peer Absa Group, as the chief executive-designate of the group and bank. Quinn, 49, stepped down from his role at Absa Group and bank earlier in the day, after spending 15 years with the lender. He will join Nedbank in …
Nedbank Group names Absa’s former finance director as CEO-designate Read More »
By Camillus Eboh ABUJA (Reuters) – Nigerian authorities are closely monitoring and working to contain an oil spill that occurred during loading operations at the TotalEnergies operated Egina field on Nov. 15, the maritime agency said on Wednesday. The Nigerian Maritime Administration and Safety Agency (NIMASA) is collaborating with the spill detention agency and the …
Oil spill off Nigeria’s Egina field under control, agency says Read More »
