By Brian Benza GABORONE (Reuters) – De Beers, a unit of Anglo American, is sticking to its 2023 production target because it is confident of the long-term outlook, its chief executive said on Monday, despite a glut in diamond supply amid weakening demand. Global demand for diamonds has fallen to levels not seen since the …
De Beers keeps production target despite supply glut Read More »
ABIDJAN (Reuters) – Downpours mixed with sunny spells in most of Ivory Coast’s main cocoa regions will help cocoa trees to go through the dry season, which runs from mid-November to March, farmers said on Monday. Last week’s weather conditions will boost the size of the October-to-March main crop and improve the soil moisture content, …
Abundant rains, sun will help Ivory Coast’s cocoa crop – farmers Read More »
By Joe Cash and Rachel Savage BEIJING/JOHANNESBURG (Reuters) – China called on Zambia’s other creditors to shoulder a “fair burden” in the country’s debt restructuring, after the IMF and official creditors including Beijing “expressed reservations” about a deal Zambia struck with overseas bondholders. Zambia and a bondholder committee were continuing talks, the copper producer’s finance …
China calls on Zambia’s creditors to take ‘fair burden’ in debt restructuring Read More »
JOHANNESBURG (Reuters) – South Africa’s biggest supermarket group Shoprite said on Monday its first quarter sales rose by 13.2% as it opened 81 new stores and continued to grow market share. Many African households remain constrained by tight budgets amid a surge in living costs. But Shoprite’s chains that service either low-income groups or middle-high …
South African supermarket Shoprite’s Q1 sales rise 13.2% Read More »
JOHANNESBURG (Reuters) – South African petrochemical company Sasol said on Monday that Sipho Nkosi had stepped down as non-executive director and chairman of the board, effective Nov. 10. The resignation comes as “he was concerned that some of his business interests may be perceived to place him in conflict with the interests of Sasol,” the …
South African petrochemical company Sasol’s chairman resigns Read More »
JOHANNESBURG (Reuters) -South Africa’s biggest telecoms operator Vodacom reported a 4.2% drop in half-year earnings on Monday, hit by the cost of starting operations in Ethiopia and higher interest rates. The company, which is majority owned by Britain’s Vodafone, co-launched Safaricom Ethiopia last year, betting that the populous nation will power growth after about five …
South Africa’s Vodacom half-year profit hit by Ethiopia costs Read More »
NAIROBI (Reuters) -Kenya has appointed Citi and Standard Bank as joint lead managers to assess the potential of borrowing in dollars in international markets, the finance ministry said. “Any transaction or transactions will be subject to market conditions,” it said in a statement on its website late on Sunday. Kenya is being watched closely on …
By Camillus Eboh ABUJA (Reuters) – Nigeria’s state oil firm NNPC Ltd said on Sunday it had restored 275,000 barrels per day (bpd) of oil production at its joint venture unit with Total Energies after negotiating an end to industrial action by workers. NNPC said in a statement that an agreement to suspend the action …
Nigeria restores 275,000 bpd production at TotalEnergies JV Read More »
By Herbert Lash and Nell Mackenzie NEW YORK/LONDON (Reuters) -The dollar eased and global equities rebounded on Friday as Wall Street rallied on doubts that interest rates will go higher even after Federal Reserve Chair Jerome Powell cautioned that tighter monetary policy might be needed to tame inflation. Powell’s remarks on Thursday that the fight …
Stocks rally, dollar eases as Wall Street shrugs off Powell Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar dipped against the euro on Friday but gained against the yen as investors evaluated comments by Federal Reserve Chair Jerome Powell that the central bank could hike rates again if inflation remains above its target. The Japanese currency also remained on watch for possible intervention as …
Dollar dips against euro, gains on yen as Fed policy stays in focus Read More »
