By Colleen Goko JOHANNESBURG (Reuters) -South Africa needs to find ways to boost economic growth if it wants to get its credit rating heading back to the investment grade threshold it lost half a decade ago, a senior Moody’s analyst said on Tuesday. “Any conversation about South Africa’s sovereign credit outlook needs to start with …
Moody’s says weak investment hurts South Africa’s credit rating prospects Read More »
WASHINGTON/NAIROBI (Reuters) -A group of Kenyan non-governmental organisations have accused the government of stoking economic inequality and driving up national debt, in a written briefing to the head of the International Monetary Fund. President William Ruto’s government, which is negotiating a new financial programme with the IMF, has claimed credit for staving off a ruinous …
Kenyan activists tell IMF the government is stoking poverty Read More »
(Reuters) -Egypt has a plan for the drilling of 480 exploratory oil wells on the basis of investments totalling $5.7 billion over the next 5 years, the country’s petroleum minister said on Tuesday, as the country seeks to reverse declining production. The country has announced agreements with international energy companies on oil and gas exploration …
Egypt plans 480 oil wells with $5.7 billion investment Read More »
(Reuters) -Shell has approved the development of an offshore gas project in Nigeria along with its joint venture partner Sunlink Energies, the oil major said on Tuesday, the latest in a series of investments by its Nigerian business. The HI offshore gas project, once completed, will supply 350 million standard cubic feet of gas per day …
Shell approves $2 billion offshore gas project in Nigeria with Sunlink Read More »
BENGHAZI, Libya (Reuters) -Libya’s central bank said on Tuesday it had authorised the printing of 60 billion Libyan dinars ($11 billion) to ensure cash liquidity was available “in a balanced and stable manner.” About 25 billion dinars of the total has been received and distributed to banks, while 14 billion dinars was expected to arrive …
Libya central bank says it has authorised the printing of dinars worth $11 billion Read More »
By Andrea Shalal WASHINGTON (Reuters) -A total of 165 organizations on Monday criticized South Africa for failing to make progress on debt sustainability issues during its presidency of the G20 major economies and urged it to push for reforms before it hands over to the U.S. on December 1. In a letter to South African …
Groups blast lack of progress on debt issues during South Africa’s G20 presidency Read More »
By Sinéad Carew and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -MSCI’s global equities gauge rose almost 1% on Monday, regaining some of the ground lost in Friday’s sell-off after U.S. President Donald Trump softened his tone on the U.S.-China trade war, but safe-haven gold hit fresh record highs in a sign that uncertainty remained high. Investors …
Equities rebound after Trump cools China rhetoric but gold at record highs Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices rose on Monday after assurances that U.S. President Donald Trump will meet his Chinese counterpart Xi Jinping later in October, easing a flare-up in trade tensions between the world’s top two economies that had pushed crude benchmarks to five-month lows on Friday. Brent crude futures settled 59 …
Oil settles higher as US, China try to de-escalate trade tensions Read More »
By Chibuike Oguh and Amanda Cooper NEW YORK/LONDON (Reuters) -The dollar advanced against the euro and yen on Monday, after a change in rhetoric from U.S. President Donald Trump lowered the temperature of simmering trade tensions with China. The U.S. dollar strengthened 0.61% to 0.804 against the Swiss franc, rebounding from the previous session when …
Dollar up against yen and euro on receding US-China trade tensions Read More »
JOHANNESBURG (Reuters) -The South African rand was buoyed by record gold prices on Monday as investors opted for the safe-haven metal after U.S. President Donald Trump renewed tariff threats against China. The commodity-backed currency fell about 1.7% after Trump’s announcement on Friday, but has tried to pare some of its losses. At 1422 GMT, the …
South African rand lifted by gold as markets reflect on US-China trade tension Read More »
