ABIDJAN (Reuters) – Above-average rain in most of Ivory Coast’s main cocoa growing regions last week helped the October-to-March main crop to strengthen, farmers said on Monday, adding there were plenty of pods, known as cherelles, on trees. The world’s top cocoa producer is in its rainy season which runs officially from April to mid-November. …
Rains help strengthen Ivory Coast cocoa main crop, farmers say Read More »
BLANTYRE (Reuters) – Malawi’s sales of tobacco, its biggest foreign exchange earner, increased to roughly $282 million in the latest season, up from $182 million a year earlier, its industry regulator said. Dwindling tobacco revenues in recent years have contributed to acute dollar shortages that have resulted in a lack of imported fuel, fertiliser and …
Malawi’s tobacco sales up 55% in latest season: regulator Read More »
(Reuters) – South Africa’s Impala Platinum’s refined platinum group metal (PGM) output declined 4% in the year ended June 30, missing its production forecast amid persistent electricity cuts, the company said on Monday. The production decline and weaker metal prices will see Impala’s headline earnings per share (HEPS) decline by more than 20%, compared to …
S.Africa’s Impala Platinum misses production target amid power crisis Read More »
By Nelson Banya (Reuters) – South Africa’s mining output has fallen further below pre-pandemic levels due to persistent electricity outages and rail disruptions, industry data shows, threatening dividend payouts to investors. South Africa is the world’s biggest producer of platinum and chrome and a leading producer of gold and diamonds. But the industry has been …
South Africa’s mining output falls further below pre-pandemic levels Read More »
ABUJA (Reuters) – The World Bank is aiming to help fund construction of 1,000 mini solar power grids in Africa’s biggest economy Nigeria in partnership with the government and private sector, the lender’s president Ajay Banga said on Saturday. Nigeria, with a population of more than 200 million people, has installed power generation capacity of …
World Bank to help fund 1,000 mini solar power grids in Nigeria Read More »
ABUJA (Reuters) – Nigerian President Bola Tinubu said on Friday the central bank was undergoing a comprehensive forensic audit as part of reforms following the suspension of the bank’s governor in June. Tinubu has embarked on the country’s boldest reforms in years, ending the central bank’s currency controls that kept the naira currency artificially strong …
Nigeria’s president says central bank undergoing forensic audit Read More »
By Lawrence Delevingne (Reuters) -Wall Street stocks fell on Friday, while the U.S. dollar and Treasury yields were lower, after a government jobs report showed a slowing but still tight U.S. labor market. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report, slightly below expectations of …
Wall St shares fall on slowing but strong US labor market Read More »
(Reuters) – S&P Global Ratings on Friday revised its outlook on Nigeria to stable from negative, citing the government’s recent reforms which the credit ratings agency believes could benefit the country’s growth and fiscal outcomes if delivered. The agency also affirmed its rating for Africa’s largest economy at ‘B-/B’. Nigeria’s new president, Bola Tinubu, has …
S&P revises Nigeria outlook to stable on fiscal reforms Read More »
By Herbert Lash NEW YORK (Reuters) – The dollar fell on Friday, paring almost all the week’s gains, after slowing U.S. jobs growth in July encouraged hopes of a soft economic landing but higher wages suggested the Federal Reserve may need to keep interest rates higher for longer. The U.S. economy added fewer jobs than …
Dollar slides after slowing U.S. jobs growth in July Read More »
By Shariq Khan (Reuters) -Oil prices rose more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns. Brent crude futures rose $1.10, or 1.3%, to settle at $86.24 a barrel, while the U.S. …
Oil rises for 6th straight week as global supplies tighten Read More »
