NAIROBI (Reuters) – Kenyan lender NCBA Group intends to acquire all the shares of AIG Kenya Insurance Company, it said late on Monday. Commercial banks in the East African nation have been moving into the insurance business in recent years to seize the opportunities presented by low rates of insurance penetration. The transaction, which will …
NCBA Group seeks to buy all shares of insurer AIG Kenya Read More »
By David Lawder WASHINGTON (Reuters) – The Institute of International Finance said on Monday it would still hold its annual membership meeting in Marrakech on Oct. 12-14, following the World Bank and International Monetary Fund decision to stick to their own Morocco meeting plans after a devastating Sept. 8 earthquake. The IIF, the global banking …
Banking group IIF to proceed with annual meeting in earthquake-hit Morocco Read More »
By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) – A global index of stocks fell slightly while Wall Street eked out a gain in Monday’s choppy market as bond yields rose and investors continued to digest last week’s central bank indications that interest rates would stay higher for longer. The dollar hit an 11-month …
Global share index slips as investors absorb ‘higher-for-longer’ rate outlook Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar hit an 11-month high against the Japanese yen on Monday and an almost 10-month high against a basket of currencies after the Federal Reserve last week signaled that it could raise interest rates further and is likely to hold them higher for longer. The hawkish rate …
Yen hits 11-month low against dollar, watched for intervention risk Read More »
By Stephanie Kelly and Nicole Jao NEW YORK (Reuters) -Oil prices settled nearly flat in choppy trade on Monday as Russia relaxed its fuel ban and investors eyed elevated interest rates that could curb demand. Brent crude futures settled 2 cents higher at $93.29 a barrel. U.S. West Texas Intermediate crude settled 35 cents lower …
Oil prices settle near flat in choppy trade; Russia eases fuel export ban Read More »
ABUJA (Reuters) – Nigeria’s state oil firm NNPC Ltd and oil majors on Monday agreed to cut the time for concluding contract talks from three years currently to six months, to speed up investment projects in Africa’s major oil producer. Protracted negotiations of major contracts in the oil and gas sector often slow badly needed …
Nigeria’s NNPC, oil majors agree to shorten talks on contracts Read More »
DAR ES SALAAM (Reuters) – Tanzania has started buying gold locally as a way of boosting its foreign exchange reserves, the central bank said on Monday. The central bank first announced its intention of buying gold in late August. “The bank is therefore purchasing gold from domestic miners and traders, in Tanzanian shillings,” Bank of …
Tanzania has started domestic gold purchases to boost forex reserves Read More »
By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) -Ghana’s central bank on Monday kept its main interest rate at 30.00% as forecast by a Reuters poll of analysts, citing lower inflation, a stabler exchange rate and relatively strong economic growth. Bank of Ghana Governor Ernest Addison said recent data suggested growth was more robust …
Ghana central bank holds main rate, sees better growth outlook Read More »
By Elias Biryabarema KAMPALA (Reuters) – Uganda is in advanced talks with Chinese export credit agency SINOSURE to provide credit for its crude oil pipeline after pressure from environmentalists forced some Western banks to recoil from the project, a top official said on Monday. The 1,445-kilometre (898-mile) East African Crude Oil Pipeline (EACOP) is planned …
Uganda in talks with Chinese credit agency for pipeline funds – official Read More »
BERLIN (Reuters) – German logistics giant DHL is teaming up with energy firm HH2E and South African petrochemicals firm Sasol on the expansion of sustainable aviation fuel (SAF) production in Germany, HH2E said on Monday. The companies have signed an agreement to set up a joint initiative to build potential production capacities for SAFs based …
DHL and Sasol join hydrogen firm HH2E on sustainable jet fuel project Read More »
