By Wendell Roelf CAPE TOWN (Reuters) – The European Union is scouting Africa to back clean jet fuel projects under its Global Gateway infrastructure fund, an EU official said, ahead of an anticipated boom in demand for environmentally sustainable air travel. The EU has pledged to dedicate half of its 300 billion euro ($324 billion) …
EU infrastructure fund eyes African clean jet fuel projects Read More »
BLANTYRE (Reuters) – Malawi is on course to getting its $1.2 billion external debt with different lenders restructured to “sustainable levels”, its central bank said in a statement on Sunday. The bulk of the debt – $800 million – is contracted with Afriximbank, and repayments started in 2020, it said. The Reserve Bank of Malawi …
Malawi ‘on course’ to restructuring $1.2 billion debt Read More »
By Samuel Indyk and Koh Gui Qing NEW YORK/LONDON (Reuters) -World stocks eked out gains on Friday as investors, shrugging off bets for a more dovish tone, took comfort from a balanced message from the Federal Reserve that the inflation fight is not over, but it will proceed “carefully” in its next move. In remarks …
Shares rise as Fed weighs inflation risks, yields steady Read More »
By Elisha Bala-Gbogbo ABUJA (Reuters) – Nigeria expects its four oil refineries to be operational by the end of next year, its new oil minister said on Friday, with the southern Port Harcourt plant seen starting as early as December. Last year, the government said the Port Harcourt refinery will start processing crude at the …
Nigeria seeks to restart four state oil refineries by end 2024 – minister Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar held steady on Friday, on pace to finish the week strong, after Federal Reserve Chair Jerome Powell said the central bank may need to raise interest rates further to ensure inflation is contained, but promised to move “carefully” at upcoming meetings. Powell, in a speech …
Dollar steady as Fed’s Powell says higher rates may be needed Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil futures climbed about 1% to a one-week high on Friday as U.S. diesel prices soared, the number of oil rigs dropped and a fire broke out at a refinery in Louisiana. Brent futures rose $1.12, or 1.3%, to settle at $84.48 a barrel, while U.S. West Texas Intermediate …
Oil futures up 1% to one-week high on soaring US diesel prices Read More »
JOHANNESBURG (Reuters) -The South African rand pared some losses on Friday, on improved market sentiment during the European session and after a speech by the U.S. Federal Reserve chair that could set the tone for future interest rate hikes in the United States. At 1528 GMT, the rand traded at 18.6550 against the dollar, about …
South African rand pares losses after Powell speech Read More »
By Elisha Bala-Gbogbo ABUJA (Reuters) – About three-quarters of Nigeria’s workers were employed as the jobless rate fell to a record low in the first quarter, the statistics office said, after it revised the methodology for computing the data “in line with international best practices”. The unemployment rate stood at 4.1% in the first quarter, …
Nigeria’s unemployment rate drops sharply to 4.1% on revised methodology Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s annual economic growth rate slowed to 2.51% in the second quarter, data showed on Friday, hurt by a fall in oil production amid a series of reforms by new president Bola Tinubu aimed at reviving Africa’s largest economy. The data, which marks the 11th consecutive quarter of growth, …
Nigeria’s GDP growth slows to 2.5% y/y in Q2 as reforms get under way Read More »
By Felix Njini NAIROBI (Reuters) – AngloGold Ashanti said it has closed its loss-making Corrego do Sitio (CDS) mine in Brazil to lower costs and stem runaway losses. The Johannesburg-based gold miner said the workforce at the mine will be reduced while it is placed on “care and maintenance” — a process which involves preserving …
AngloGold mothballs loss-making CDS mine in Brazil Read More »
