JOHANNESBURG (Reuters) -The South African rand was slightly stronger on Monday after Fitch affirmed South Africa’s “BB-” credit rating with a “stable” outlook, despite an ongoing power crisis. This week’s major focus will be local inflation data out on Wednesday and an interest rate announcement on Thursday. At 1541 GMT, the rand traded at 18.0650 …
South African rand firms; CPI and rate decision this week’s focus Read More »
BRUSSELS (Reuters) – The European Union could still lend Tunisia’s battered economy 900 million euros ($1.0 billion), an EU official said on Monday, but further talks will be in the third quarter and depend on a deal with the International Monetary Fund (IMF). Talks on a $1.9 billion IMF loan have been stalled since October …
EU may still loan Tunisia $1 billion if it secures IMF support Read More »
(Reuters) – Anglo American Platinum (Amplats) expects half-year profit to slump as much as 75%, hit by weaker metal prices and the impact on production from power shortages in South Africa, the company said on Monday. The world’s top producer of platinum group metals (PGM), which are used mostly by automakers, forecast a drop in …
Amplats warns of profit slide on lower metal prices and power crisis Read More »
By Chris Mfula LUSAKA (Reuters) – The Zambian economy is expected to grow by just 2.7% in 2023 from 4.7% in 2022, as contractions in mining and energy drag on growth, a budget plan released by the ministry of finance showed on Sunday. Zambia has concluded a long-delayed debt restructuring plan with the International Monetary …
BENGHAZI (Reuters) – Production at Libya’s Sharara and El Feel oilfields, which were shut on Thursday following the abduction of a former finance minister, has resumed on Saturday evening, four oil engineers and oil ministry said. Sharara has partially resumed at 30,000 barrels per day out of its usual 290,000, two engineers said. Production will …
Libya’s Sharara and El Feel oilfields resume production on Saturday evening Read More »
By Lawrence Delevingne (Reuters) -Wall Street stocks mostly held on to their previous gains on Friday, while the dollar stayed near 15-month lows, after U.S. inflation data this week unleashed a wave of investor optimism that the U.S. Federal Reserve was nearing the end of its rate-hiking cycle. Data showed on Wednesday U.S. consumer prices …
Wall St holds gains after cooler inflation, mixed earnings Read More »
By Gertrude Chavez-Dreyfuss and Joice Alves NEW YORK/LONDON (Reuters) – The U.S. dollar bounced on Friday after falling sharply the last few days, as investors consolidated losses ahead of the weekend, but its trajectory remained tilted to the downside with the Federal Reserve thought near the end of its rate hike cycle amid softening inflation. …
Dollar gains after steep losses, but downtrend stays intact Read More »
(Corrects Brent price unit in second paragraph to ‘per barrel’) By Shariq Khan BENGALURU (Reuters) – Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks recording their third-straight weekly gain. Brent crude futures settled at $79.87 per …
Oil prices fall on profit-taking, still record weekly gain Read More »
ACCRA (Reuters) -Ghana’s finance ministry has invited eligible holders to exchange $809.9 million in domestic U.S. dollar bonds for a package of new bonds with lower rates and longer maturities, it said on Friday, part of efforts to restructure debt to meet International Monetary Fund loan requirements. The country’s cocoa board (COCOBOD) launched a debt …
Ghana invites domestic dollar bondholders to debt restructuring Read More »
By Ahmed Eljechtimi RABAT (Reuters) – Shell will supply Morocco with an annual 0.5 billion cubic metres (bcm) of liquefied natural gas (LNG) under a 12-year deal, the North African country’s energy ministry said on Friday. The deal was signed by electricity and water utility ONEE and Shell, a ministry statement said without disclosing financial …
Shell to supply Morocco with LNG in 12-year deal Read More »
