By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund and World Bank will decide on Monday whether to proceed with Oct. 9-15 annual meetings in earthquake-hit Morocco after completing a “thorough review” of the country’s ability to host the meetings, IMF Managing Director Kristalina Georgieva told Reuters. Georgieva also said in an exclusive interview that …
By Shariq Khan BENGALURU (Reuters) – Oil prices hit a 10-month high on Friday and posted a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combined with optimism around Chinese demand to lift crude. Brent crude futures rose 23 cents, or 0.3%, to settle at $93.93 a barrel, while U.S. West …
Oil gains for third straight week on tight supply, China optimism Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar was lower on Friday, after data showing a dip in consumer sentiment, but the greenback was still poised for a ninth straight week of gains, while the yen weakened to a 10-month low. The University of Michigan’s preliminary reading of its Consumer Sentiment Index dropped …
Dollar down after data but set for ninth straight weekly climb Read More »
By Felix Onuah ABUJA (Reuters) -President Bola Tinubu has nominated the former head of Citibank in Nigeria, Olayemi Cardoso, to serve as the country’s new central bank governor, days before its next interest rate meeting, a presidential spokesperson said on Friday. Government sources told Reuters that Godwin Emefiele, who was suspended as central bank chief …
Nigeria’s Tinubu picks banker Cardoso as next central bank governor Read More »
By Camillus Eboh ABUJA (Reuters) -Nigeria’s annual inflation rate accelerated to an 18-year high of 25.8% in August, official data showed on Friday, as Africa’s largest economy grapples with rising prices ahead of a central bank interest rate decision later this month. President Bola Tinubu in May removed a popular but costly decades-old petrol subsidy …
Nigeria inflation rises to 18-year high in August ahead of rates decision Read More »
JOHANNESBURG (Reuters) -South Africa’s rand edged lower against the dollar on Friday, weighed down by a worsening power crisis, ahead of local inflation figures and an interest rate decision next week. At 1538 GMT, the rand traded at 19.0550 against the dollar, over 0.1% weaker than its previous close. While state power utility Eskom reduced …
South African rand slips ahead of CPI data, rate decision next week Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended sharply higher and the greenback jumped on Thursday as robust economic data failed to budge expectations that the Federal Reserve will leave its key interest rate unchanged next week. The rally boosted a broad array of assets. All three major stock indexes ended higher, as …
Wall Street rallies, dollar surges as data cements Fed pause bets Read More »
(Updated at 2:52 P.m. EDT/1852 GMT) By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index surged to a six-month high on Thursday, as economic data was mostly stronger than anticipated and the European Central Bank (ECB) signaled it was likely done with its interest rate hike cycle. U.S. retail sales increased 0.6% in August, …
Dollar jumps to 6-month high after data, ECB announcement Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices climbed on Thursday to their highest this year, as expectations of tighter supply outweighed worries about weaker economic growth and rising U.S. crude inventories. Brent crude rose $1.82, or 1.98%, to settle at $93.70, after touching $93.89, its highest since November 2022. U.S. West Texas Intermediate crude (WTI) …
Oil rises to highest in 2023 on tight supply expectations Read More »
By MacDonald Dzirutwe LAGOS (Reuters) -Nigeria’s electricity distribution companies reported “a total system collapse” on Thursday after a fire on a major transmission line, causing widespread blackouts across Africa’s biggest economy, before power slowly started to return. Adebayo Adelabu, minister for power, said fire had caused an explosion on a transmission line connecting the Kainji …
Nigeria restoring power after nationwide blackouts Read More »
