By Promit Mukherjee JOHANNESBURG (Reuters) – South African utility Eskom will get up to 20 billion rand ($1.06 billion) from the National Treasury next week, its interim CEO Calib Cassim said on Wednesday, in the second tranche of a debt relief package from the government. The government’s handout was first announced by the National Treasury …
S.Africa’s Eskom to get second debt relief payment next week – CEO Read More »
BEIJING (Reuters) – Africa is now realising its potential and capacity, with the formerly side-lined continent harnessing its demographic dividend and natural resources and becoming an economic, political and social powerhouse, Ethiopian Prime Minister Abiy Ahmed said on Wednesday. The African continent has particularly suffered the consequences of the climate crisis and conflict in other …
Ethiopia prime minister: Africa is becoming economic, political and social powerhouse Read More »
CAPE TOWN, October 18 (Reuters) – A court case over whether to allow Shell to explore for oil and gas off South Africa’s pristine Wild Coast has been delayed until next year, a lawyer for environmentalists said on Wednesday. Shell wants to overturn a decision by the Makanda High Court last September that prevented it …
Shell’s court battle over S.Africa energy exploration delayed -lawyer Read More »
JOHANNESBURG (Reuters) -South African grocery retailer Pick n Pay swung on Wednesday to a half-year loss of 571.3 million rand ($30.48 million), hit by incremental costs, and said it would not pay out a dividend. The retailer, which also sells clothes, said it swung to a loss after tax in the 26 weeks ended Aug.27, …
South Africa’s Pick n Pay swings to H1 loss, withholds dividend Read More »
By Nicole Jao NEW YORK (Reuters) – Oil prices edged higher on Tuesday as investors wait to see if U.S. diplomatic efforts and a trip by President Joe Biden to Israel will prevent the conflict in the Middle East from widening. Brent crude futures settled up 25 cents to $89.90 a barrel. U.S. West Texas …
Oil prices edge higher ahead of Biden Middle East trip Read More »
By Stephen Culp NEW YORK (Reuters) – The Nasdaq dipped and benchmark U.S. Treasury yields surged on Tuesday as robust economic data and strong third-quarter earnings sugested the Federal Reserve may keep policy tight for longer than expected. All three major U.S. stock wavered throughout the session but the S&P 500 and the Dow closed …
Wall St ends mixed, US Treasury yields spike on robust data, solid earnings Read More »
TUNIS (Reuters) – Tunisian President Kais Saied on Tuesday sacked Economy Minister Samir Saied after fresh statements that a deal with the International Monetary Fund (IMF) would be vital for obtaining other foreign financing. The president strongly opposes what he described as the dictates of the IMF, saying that the IMF is ”not sacred” and …
Tunisia president sacks the economy minister over statement about IMF Read More »
JOHANNESBURG (Reuters) – South Africa’s Competition Commission will investigate whether digital platforms like Meta and Google were unfairly competing with news publishers by using their content to generate ad revenue, it said on Tuesday. The Commission will be investigating among other things market features that may distort competition for advertising revenue between news media organisations …
South Africa to probe Meta, Google competition with news publishers Read More »
By Sam Tobin LONDON (Reuters) – Mozambique is seeking more than $3 billion in damages from Emirati-Lebanese shipbuilder Privinvest over the decade-old “tuna bond” scandal, London’s High Court heard on Tuesday. The republic’s lawyer, Jonathan Adkin, said the claim against Privinvest and its owner, French shipping magnate Iskandar Safa, is now valued at around $3.1 …
Mozambique seeks $3 billion from Privinvest in ‘tuna bonds’ scandal Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar rose against the Japanese yen on Tuesday, but ended lower against the euro after data showed that U.S. retail sales rose more than expected in September, with investors also focused on a busy week of speeches by Federal Reserve officials. Retail sales rose 0.7% last month …
Dollar mixed after earlier bounce on strong US retail sales Read More »
