By Ange Aboa ABIDJAN (Reuters) – Ivory Coast cocoa sector regulator will not allow bean grinders to accumulate stocks beyond authorised limits during the main October to March harvest to ensure fair access amid fears of a supply shortage. Cocoa futures have hit record highs due to forecasts for a drop in production, particularly from …
Ivory Coast cocoa regulator scraps stockpile exemption for bean grinders Read More »
NAIROBI (Reuters) – Kenya has raised its budget deficit forecast for the 2023/24 (July-June) financial year to 5.3% of GDP from 4.4%, a summary of revised spending estimates presented to parliament showed on Friday. The wider projection was due to the weakening of the Kenyan shilling against the dollar, Finance Minister Njuguna Ndung’u said, which …
Kenya raises 2023/24 deficit forecast to 5.3% from 4.4% – revised budget Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s naira is on the brink of breaching 1,000 per dollar after falling to an official record low of 999 last week, Refinitiv data showed, tracing its weakness on the unofficial market where it trades freely. President Bola Tinubu removed Nigeria’s foreign currency controls in June in a bid …
Explainer-What is pushing the Nigerian naira to record lows? Read More »
NAIROBI (Reuters) – Kenya Electricity Generating Co Ltd (KenGen) said on Friday its pretax profit for the year to the end of June rose 38%, lifting the company’s share price. KenGen said its pretax profit rose to 8.53 billion shillings ($57 million) from 6.19 billion shillings a year earlier, helped by a 14% increase in …
Kenyan power producer KenGen posts 38% pretax profit jump Read More »
By Lawrence Delevingne (Reuters) -Shares around the world fell and U.S. Treasury yields retreated on Thursday as investors digested mixed U.S. economic and corporate signals. The U.S. economy grew faster than expected in the third quarter, buoyed by robust consumer spending amid a resilient labor market and again defying dire warnings of a recession. But …
Stocks, Treasury yields retreat amid mixed earnings, economic data Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices fell more $2 a barrel on Thursday as fears of a wider Middle East conflict eased at the same time that U.S. demand showed signs of weakening. Brent crude futures settled at $87.93 a barrel, sliding $2.20 or 2.44%. On Wednesday, Brent settled nearly 2% higher. U.S. West …
Oil falls more than $2 on easing Middle East fears Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar was modestly higher against a basket of currencies on Thursday after data showed the U.S. economy grew at its fastest pace in nearly two years in the third quarter, once again defying dire warnings of a recession that have lingered since 2022. Gross domestic product …
Dollar edges up as US economic growth accelerates Read More »
By Sonia Rolley and Felix Njini (Reuters) -Chemaf SA, a miner and long time-partner of commodities trader Trafigura, is up for sale as it deals with a cash crunch, according to a document seen by Reuters on Thursday. The privately-owned copper and cobalt miner has asked for offers to wholly acquire the company, it said …
Trafigura’s Congo partner Chemaf could seek buyers amid cash crunch Read More »
JOHANNESBURG (Reuters) -South Africa’s rand firmed on Thursday, recouping losses from the previous session, with investor focus turning to the mid-term budget next week. At 1704 GMT, the rand traded at 18.9825 against the dollar, about 0.7% stronger than its previous close. The dollar was last up more than 0.2% against a basket of global …
S. African rand firms as focus turns to next week’s mid-term budget Read More »
N’DJAMENA (Reuters) -Chad has dismissed Petroleum and Energy Minister Djerassem le Bemadjiel, the government said in a decree on Thursday. It did not give a reason or name a replacement. The government also said that Daoud Hamid Dabou was named Chairman of the Board of Directors of the Société des Hydrocarbures du Tchad, the state …
Chad dismisses oil minister in government decree Read More »
