JOHANNESBURG (Reuters) – South African petrochemical company Sasol on Friday said Simon Baloyi will take on the role of President and CEO from April 1, 2024. Baloyi succeeds Fleetwood Grobler, who will continue with the company as an executive advisor until Dec. 31, 2024 to ensure a seamless handover. Baloyi, currently Executive Vice President of …
South African petrochemical company Sasol names new CEO Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – The South African Reserve Bank (SARB) will keep its repo rate unchanged on Nov. 23 and wait until May 2024 before cutting it, a Reuters poll found, as policymakers try to navigate risks to inflation and the timing of when global interest rates will start to fall. All 20 …
South African Reserve Bank to hold repo rate at 8.25% on Nov. 23 – Reuters poll Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenya could lose up to 7.25% of economic output by 2050 if it does not take strong action to adapt to climate change and mitigate its effects, the World Bank said on Friday. Like other so-called frontier economies, the East African nation has been suffering from the effects of …
Kenya could lose up to 7.25% of GDP to climate change, World Bank says Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices dropped around 5% on Thursday to their lowest in four months, as investors worried about global oil demand following weak data from the U.S. and Asia. Brent futures settled down $3.76, or 4.6%, to $77.42 a barrel. U.S. West Texas Intermediate crude (WTI) shed $3.76, or 4.9%, …
Oil prices slump to 4-month low on U.S., Chinese economic concerns Read More »
CAIRO (Reuters) -Egypt has sold a stake in tobacco products maker Eastern Co in its first foreign sale of a major state asset since it agreed to a privatisation programme with the IMF last December. The buyer was the UAE’s Global Investment Holding Co., Eastern CEO Hani Aman confirmed to Reuters on Thursday. Global Investment …
Egypt sells stake in tobacco firm Eastern Co to UAE company Read More »
By Herbert Lash NEW YORK (Reuters) -The dollar meandered on Thursday after U.S. jobless claims rose more than expected last week, indicating a cooling labor market that could prompt the Federal Reserve to cut interest rates in early 2024 as it tries to engineer a soft landing. The dollar index, a measure of the U.S. …
Dollar steady as U.S. jobless claims boost Fed rate cut bets Read More »
By Koh Gui Qing and Marc Jones NEW YORK/LONDON (Reuters) -World stocks snapped a five-day rally on Thursday as investors took a breather, while oil prices slumped as much as $3 per barrel on signals of higher U.S. supply and lackluster Chinese demand. By 1748 GMT (12:48 p.m. EST), MSCI’s gauge of stocks across the …
By Aaron Ross ADDIS ABABA (Reuters) – An agreement being finalised with Ethiopia’s official bilateral creditors is expected to largely mirror a previous deal with China that suspended debt payments for the fiscal year ending next July, a senior finance ministry official said on Thursday. Eyob Tekalign, State Minister of Fiscal Policy and Public Finance, …
Ethiopia’s new debt-service suspension to mirror China deal – finance ministry Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana plans to introduce a more flexible oil royalties regime as soon as next year to spur investment and reduce risk for energy companies, the head of the state oil sector regulator said on Thursday. Egbert Faibille Jr, CEO of Ghana’s Petroleum Commission, told Reuters that the energy …
Ghana plans more flexible oil royalties regime to spur investment Read More »
(Reuters) -Nigeria is withdrawing civil claims totalling $1.1 billion against Italian energy group Eni and related to allegations of corruption in a oilfield deal, Bloomberg News reported on Thursday. The West African country’s justice ministry will waive the claims before Italy’s highest court “unconditionally” and “with immediate effect” no later than Nov. 17, the report …
Nigeria withdraws $1.1 billion claim against Eni on oilfield deal Read More »
