CAIRO (Reuters) – Egypt’s central bank is expected to keep its overnight interest rates steady at a policy meeting on Thursday, as the government targets stability ahead of a presidential election scheduled for December and amid the ongoing crisis in Gaza. The median forecast in a poll of 16 analysts is for the bank to …
Egypt seen holding interest rates steady on Thursday: Reuters poll Read More »
WASHINGTON (Reuters) – African countries are less likely to follow East Asia’s development model of expanding manufacturing to pull people out of poverty, according to a study that shows a declining share of factory jobs for most countries by mid-century. The new paper released on Monday by the Center for Global Development shows there will …
Africa unlikely to follow East Asia’s manufacturing growth path -study Read More »
(Reuters) – Australia’s AVZ Minerals on Monday said it plans to file an emergency arbitration application, seeking injunctive relief against Cominiere to prohibit any transaction related to the contested Manono lithium mine in the Democratic Republic of Congo (DRC). Last week, China’s Zijin Mining said joint venture Manono Lithium SAS, in which its unit Jinxiang …
Australia’s AVZ Minerals to file arbitration over contested Congo lithium mine Read More »
(This Oct. 17 story has been corrected to clarify that Al Dahra said in 2014 that it would continue to sell wheat to the local market, and removes reference to exporting, in paragraph 14) By Sarah El Safty and Maha El Dahan CAIRO(Reuters) – Emirati agribusiness Al Dahra is in talks to acquire more agricultural …
UAE agribusiness in talks to acquire land in Egypt, sources say Read More »
By Lawrence Delevingne (Reuters) -Global shares struggled on Friday despite a lift from technology giants, while benchmark Treasury yields and the dollar saw little change as data confirmed U.S. inflation remained high, but in line with forecasts. Underlying inflation picked up last month, largely driven by housing costs, a U.S. Commerce Department report showed. But …
Stocks drag despite tech lift as inflation lingers Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies. Brent futures rose $2.55, or 2.9%, to settle at $90.48 a barrel, while U.S. West Texas Intermediate (WTI) …
Oil prices up 3% on worries about Middle East supplies Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar edged down against a basket of currencies on Friday, pulled down by portfolio rebalancing, but was on track to end the week higher as fresh data reinforced the view the U.S. economy remains on a firm footing. U.S. consumer spending increased more than expected in September, …
Dollar eases as month-end flows weigh; eyes on Fed and BOJ Read More »
BERLIN (Reuters) – German Chancellor Olaf Scholz this weekend makes his third visit to sub-Saharan Africa in two years, as conflicts elsewhere highlight the growing importance of an energy-rich region in which Berlin has traditionally had little involvement. He will visit major energy producer Nigeria, as well as Ghana, with migration flows and instability in …
Energy-hungry Germany’s Scholz courts Africa as crises elsewhere bite Read More »
HARARE (Reuters) – Zimbabwe’s government will maintain its multi-currency system, anchored by the U.S. dollar, to 2030, it said on Friday. The government had previously said that the multi-currency system would end in 2025. This had triggered uncertainty in the banking sector, with some banks refusing to give loans past 2025. In a government gazette, …
JOHANNESBURG (Reuters) -The South African rand strengthened on Friday ahead of the mid-term budget next week which will provide insight into the health of Africa’s most industrialised economy. At 1615 GMT, the rand traded at 18.8075 to the dollar, about 0.8% stronger than its previous close. The dollar last traded around 0.15% weaker against a …
South African rand strengthens, mid-term budget in sight Read More »
