Reuters Africa Business Archives - Page 617 of 921

Morocco names pre-qualification firms in 400 MW solar project

10 Jul 2023 10 Jul 2023

RABAT (Reuters) – Morocco’s renewable energy agency Masen said on Monday six consortiums pre-qualified to build a 400-megawatt solar plant in the Atlas mountains, dubbed Noor Midelt II. The six consortiums are led by Spain’s Cobra Servicios, Communicaciones y Energia, France’s EDF Renouvelables, Italy’s Enel Green Power, Spain’s Iberdrola Renovables International, Belgium’s International Power and …

Morocco names pre-qualification firms in 400 MW solar project Read More »

Sinomine completes $300 million Zimbabwe lithium projects

10 Jul 2023 10 Jul 2023

HARARE (Reuters) – China’s Sinomine Resource Group on Monday said it has completed the construction of a spodumene concentrate plant at its Zimbabwe lithium mine, as Chinese battery minerals producers ramp up output in the African country. Sinomine bought Bikita Minerals, one of Africa’s oldest lithium mines, for $180 million in January 2022 and began …

Sinomine completes $300 million Zimbabwe lithium projects Read More »

Libya says Rome lifts civil aviation ban in Italian airspace

9 Jul 2023 9 Jul 2023

TRIPOLI (Reuters) -Italy has lifted a 10-year-long ban on Libyan civil aviation using Italian airspace, with flights due to resume from September, the Libyan government said on Sunday. There are currently few airlines operating flights in and out of Libya, a country that has suffered more than a decade of chaos and conflict since Muammar …

Libya says Rome lifts civil aviation ban in Italian airspace Read More »

Global stocks index flat, Dollar falls on mixed U.S. jobs data

7 Jul 2023 7 Jul 2023

By Sinéad Carew NEW YORK (Reuters) – MSCI’s global equity index ended Friday’s session virtually unchanged while the dollar was lower as government data showed that U.S. jobs growth slowed more than expected in June, easing worries about the outlook for Federal Reserve rate hikes. But while investors appeared to hold out hope for a …

Global stocks index flat, Dollar falls on mixed U.S. jobs data Read More »

Dollar slips as US job growth slows in June, yen jumps

7 Jul 2023 7 Jul 2023

By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) -The dollar slumped on Friday after signs of a less resilient U.S. labor market reduced the outlook for how long the Federal Reserves will keep interest rates higher, while the yen surged on concerns the 10-year Treasury’s yield rose above 4%. The U.S. economy added the …

Dollar slips as US job growth slows in June, yen jumps Read More »

Oil prices up 3% to 9-week high on supply concerns

7 Jul 2023 7 Jul 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Brent futures rose $1.95, or 2.6%, to settle at $78.47 a barrel, while U.S. West Texas …

Oil prices up 3% to 9-week high on supply concerns Read More »

South African rand firms as dollar weakens, stocks rise

7 Jul 2023 7 Jul 2023

JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Friday as the dollar weakened after U.S data showed job growth slowed more than expected in June. At 1649 GMT, the rand traded at 18.8400 against the dollar, 1.41% stronger than its previous close. The dollar index was last at 102.240, down more than 0.8% against a basket …

South African rand firms as dollar weakens, stocks rise Read More »

Barrick CEO wants to search for more copper in Zambia and Congo

7 Jul 2023 7 Jul 2023

KALUMBILA, Zambia (Reuters) – Barrick Gold is keen to explore for more copper deposits in Zambia and Democratic Republic of Congo as the miner seeks to expand its presence on the African copperbelt, its CEO said on Friday. The world’s No. 2 gold miner wants to explore for deposits of the metal in southern parts …

Barrick CEO wants to search for more copper in Zambia and Congo Read More »

South Africa’s Telkom rejects bid by former CEO, shares slide

7 Jul 2023 7 Jul 2023

JOHANNESBURG (Reuters) – South Africa’s Telkom said on Friday it had rejected an offer led by its former CEO to buy a majority stake in country’s third biggest telecoms company, sending its shares down 7%. Last month Telkom confirmed it had received an unsolicited offer led by former CEO Sipho Maseko and the South African …

South Africa’s Telkom rejects bid by former CEO, shares slide Read More »

Stocks sink as bond yields rise, U.S. jobs data fuels rate hike fears

7 Jul 2023 7 Jul 2023

By Sinéad Carew and Marc Jones NEW YORK/LONDON (Reuters) – MSCI’s global index of stocks fell on Thursday while Treasury yields rose as a surge in U.S. private payrolls prompted concerns that interest rates would stay higher for longer. Payroll company ADP said June private payrolls rose 497,000, far exceeding economists’ expectations for a 228,000 …

Stocks sink as bond yields rise, U.S. jobs data fuels rate hike fears Read More »