By Laura Sanicola (Reuters) -Oil prices settled higher on Friday but posted their fourth straight quarterly loss as investors worried that sluggish global economic activity could crimp fuel demand. Benchmark Brent crude futures for August delivery which expires on Friday, settled up 56 cents, or 0.8%, at $74.90. In the three months to the end …
Oil settles higher but posts fourth straight quarterly decline Read More »
HARARE (Reuters) – Premier African Minerals wants to resolve its lithium supply dispute with China’s Canmax Technologies, the miner said on Friday, seeking to avert a lengthy legal battle that could disrupt operations. On Wednesday, the Chinese company said it would terminate the deal after Premier missed a May 2023 deadline to start delivering spodumene …
Premier wants to resolve lithium supply spat with China’s Canmax Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Friday, but ended the month of June with significant gains, while Johannesburg-listed stocks closed higher. At 1650 GMT, the rand traded at 18.8050 against the dollar, 0.17% weaker than its previous close. The dollar last traded at 102.870, around 0.4% weaker against a basket of global currencies. …
NAIROBI (Reuters) – Kenya’s High Court on Friday suspended the implementation of a newly signed finance law that was set to double fuel tax and introduce new taxes. President William Ruto’s government pushed the law through parliament last week despite stiff opposition, saying extra revenue measures were needed to help deal with growing debt repayments, …
Kenya’s High Court blocks tax hikes in newly signed law Read More »
(Reuters) -Ethiopia has launched a tender for a second new telecommunications license, its communications authority said on Friday, opening up one of Africa’s largest markets to further competition. Ethiopia’s telecoms industry is considered a big prize in Prime Minister Abiy Ahmed’s push to liberalise the economy after he took over in 2018, thanks to a …
Ethiopia launches tender for new telecoms licence Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – Investec Group will fund coal projects for another seven years in South Africa, while its UK subsidiary will end all coal financing exposure in 2027, it said on Friday. Activists and environmentalists have criticised South African banks – among the biggest on the continent – for continuing to fund …
South African lender Investec to fund coal until 2030 Read More »
NAIROBI (Reuters) – Zambia’s Mopani Copper Mines posted a deeper financial loss last year and lower output, state owner ZCCM Investment Holdings said. Its financial losses widened to $298 million from $74.2 million in 2021, ZCCM said in a financial report published late on Thursday. Copper output at the operations declined to 72,694 tons from …
Zambia’s Mopani Copper Mines losses deepen amid search for new investor Read More »
By Stephen Culp NEW YORK (Reuters) – The S&P 500 advanced on Thursday and benchmark Treasury yields hit their highest level since early March as robust economic data helped ease recession fears but increased the odds of the Fed keeping its restrictive policy in place for longer than expected. Financials led the gainers after the …
S&P 500 ends higher, Treasury yields touch three-month high on solid US economic data Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar index climbed to a two-week high on Thursday after economic data showed the labor market remained on a solid footing, giving the Federal Reserve a possible cushion to continue raising interest rates. Weekly initial jobless claims decreased 26,000 to a seasonally adjusted 239,000, the largest …
Dollar index hits two-week high as data boosts Fed hike expectations Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled higher on Thursday after flip flopping during the session, supported by a bigger draw than expected in U.S. crude inventories but pressured by fears that rising interest rates could dent global economic growth. Brent crude futures rose 31 cents, or 0.4%, to $74.34 a barrel. U.S. West …
Oil settles higher, trade choppy as tight supply vie with rate hike fear Read More »
