JOHANNESBURG (Reuters) – The World Bank said on Wednesday that its board had approved a $1 billion loan to help South Africa reform its energy sector, as the country tries to overcome regular power cuts that have curbed economic growth. The bank wants to support the country’s reforms to split struggling power firm Eskom and …
World Bank approves $1 billion loan to help South Africa tackle power crisis Read More »
By Sam Tobin LONDON (Reuters) – Mozambican President Filipe Nyusi was ultimately responsible for the failure of the projects at the centre of the “tuna bond” scandal, the owner of Emirati-Lebanese shipbuilder Privinvest told London’s High Court on Wednesday. Privinvest and its owner French shipping magnate Iskandar Safa are facing a $3.1-billion lawsuit from the …
Mozambique’s Nyusi to blame over ‘tuna bond’ scandal, shipbuilder’s owner says Read More »
By Ange Aboa ABIDJAN (Reuters) -Ivory Coast is struggling to sell cocoa export contracts for the 2024/25 season with multinational companies demanding it lower prices, which are elevated due to a supply squeeze, the head of the country’s cocoa regulator said on Wednesday. Ivory Coast is the world’s top producer of cocoa, the main ingredient …
Ivory Coast in fresh stand-off with cocoa buyers over premium Read More »
WINDHOEK (Reuters) – Namibia’s central bank kept its main lending rate unchanged at 7.75% on Wednesday. The decision is the second time in a row that the Bank of Namibia has held its key rate, after a 50 basis point (bps) hike in June and two 25 bps increases earlier in 2023. Inflation in the …
By Siyi Liu and Felix Njini BEIJING/NAIROBI (Reuters) -China’s Zijin Mining said it will defend its right to advance the contested Manono Lithium mine in the Democratic Republic of Congo (DRC), after it was granted permission to develop the deposit. The permit to develop one of world’s largest hard rock deposits of the mineral initially …
China’s Zijin says will advance disputed, giant Congo lithium project Read More »
CAPE TOWN (Reuters) -French energy company TotalEnergies expects to take a final investment decision (FID) on a planned new liquefied natural gas (LNG) import terminal at Mozambique’s Matola port by September next year, a spokesperson said on Wednesday. The Matola terminal could become South Africa’s first major LNG supplier at a time government wants to …
TotalEnergies targets FID on Matola LNG by Sept 2024 Read More »
By Marc Jones LONDON (Reuters) -A milestone move by the European Central Bank toward launching a digital euro within a few years means the time has come for the newest incarnation of money to prove its worth. A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200 …
Time for central bank digital currencies to prove their worth Read More »
By Lawrence Delevingne and Amanda Cooper (Reuters) – Global stocks advanced on Tuesday as positive corporate earnings spurred some investor risk appetite, although caution remained given the war in the Middle East and mixed economic data ahead of closely-watched interest rate policy decisions. Oil fell further after weak economic data suggested reduced demand, eclipsing worries …
Stocks rebound on earnings, stabilized Treasuries Read More »
By Shariq Khan BENGALURU (Reuters) -Oil prices fell on Tuesday for the third straight session after a flurry of slow economic data from Germany, the euro zone and Britain weighed on the outlook for energy demand. Brent crude futures fell $1.76, or 2%, to settle at $88.07 a barrel, while U.S. West Texas Intermediate crude …
Oil drops for third straight session on weak European economic data Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against a basket of currencies on Tuesday as a slew of fresh economic data highlighted the strength of the U.S. economy relative to the United Kingdom and the European Union. U.S. business output ticked higher in October as the manufacturing sector pulled out of a …
Dollar rises as US business activity ticks up in October Read More »
