By Erwin Seba HOUSTON (Reuters) -The Brent crude oil benchmark finished above $80 a barrel on Thursday, after demand concerns and a fading war-risk premium triggered a sell-off earlier this week. Brent crude futures settled at $80.01 a barrel, a gain of 47 cents, or 0.59%. U.S. West Texas Intermediate (WTI) crude futures finished at …
Brent oil finishes over $80 after this week’s sell-off Read More »
NEW YORK (Reuters) – Egypt will close the sale of a group of seven hotels, several of them historic, by the end of the year, the head of the Sovereign Fund of Egypt Ayman Soliman said on Thursday. “It has been awarded. So we’re now in partnership moving towards a close before the end of …
Egypt’s sovereign fund to complete historic hotels sale by year-end Read More »
ACCRA (Reuters) -The African Development Bank (AfDB) has approved a $102.6 million budget support programme for Ghana focused on fiscal consolidation and economic recovery, the bank and Ghana’s finance ministry said on Thursday. Ghana, which produces gold, cocoa and oil, is in talks with bilateral and commercial creditors to restructure its debts amid its worst …
African Development Bank approves $102.6 million support programme for Ghana Read More »
RIYADH (Reuters) -The Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said on Thursday during the Saudi-Arab-African Economic Conference in Riyadh. “We are working with partners to support Ghana and other countries regarding their debt,” Jadaan added. Saudi Investment Minister Khalid Al-Falih …
Saudi Arabia to sign deals worth over $500 million with African nations -minister Read More »
JOHANNESBURG (Reuters) -The South African rand fell on Thursday ahead of a speech by Federal Reserve Chair Jerome Powell that will be closely watched for insight on the direction of U.S. interest rates. At 1515 GMT, the rand traded at 18.5450 against the dollar, about 0.4% weaker than its previous close. Earlier in the day …
South African rand slips ahead of Powell’s speech Read More »
By Marwa Rashad and Sarah El Safty LONDON/CAIRO (Reuters) -The prospect of the EU receiving more liquefied natural gas (LNG) from Egypt in the short and medium term looks unachievable due to tight gas balances and reduced imports form Israel, Oxford Institute of Energy Studies (OIES) said. Egypt shipped 80% of its liquefied natural gas …
Mideast conflict dims prospect of more Egyptian LNG exports to Europe Read More »
NAIROBI (Reuters) – Kenya’s biggest telecoms operator Safaricom reported on Thursday a 19.1% fall in its earnings before interest and taxes to 41.45 billion shillings ($273.51 million) for the first half to the end of September. The company, which is partly owned by South Africa’s Vodacom, said its group service revenue grew 9.9% in the …
Kenya’s Safaricom’s H1 core profit drops by nearly a fifth Read More »
By Tannur Anders PRETORIA (Reuters) – The South African unit of U.S. auto giant Ford said on Wednesday it would invest 5.2 billion rand ($281 million) to produce a hybrid vehicle in the country, as it urged the government to move fast on an electric vehicle policy. Three-quarters of cars produced by South Africa’s auto …
Ford’s South Africa unit to invest $281 million in hybrid vehicles Read More »
By Herbert Lash NEW YORK (Reuters) -World stock markets sputtered on Wednesday and the dollar eased as some investors accepted the notion that interest rates will stay higher for longer even though the Federal Reserve may have halted hiking them. Yields across the Treasury curve mostly fell as the auction of benchmark 10-year notes fared …
Stocks slip as market seeks rate-cut timing, dollar gains Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices slid over 2% on Wednesday to their lowest in more than three months on concerns over waning demand in the U.S. and China. Brent crude futures settled down $2.07, or 2.5%, to $79.54 a barrel. U.S. crude lost $2.04, or 2.6%, to $75.33. Both benchmarks hit their …
Oil slides over 2% on demand worries, lowest settlement in 3 months Read More »
