LONDON (Reuters) – Silicon producer Ferroglobe is aiming to restart its South African plant and boost output at its operation in the United States to benefit from strong demand and rising prices, its chief executive told Reuters. Silicon metal is used to make aluminum alloys used by the auto sector and by the chemical industry …
Ferroglobe aims to restart S.African silicon plant, raise U.S. output Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s petrol subsidy scheme could cost 4 trillion naira ($9.6 bln) to finance this year from 443 billion naira earlier with higher oil prices driven by the Russia-Ukraine war, the president told lawmakers in a letter requesting extra funds. President Muhammadu Buhari cited a spike in oil prices, worsened …
Nigeria expects fuel subsidy could cost $9.6 billion in 2022 as oil prices rise Read More »
TUNIS (Reuters) – The Tunisian dinar fell to its lowest level against the U.S. dollar in three years on Friday, crossing the three-dinars per dollar mark, central bank figures showed. The dollar was traded for 3.003 dinars, the figures showed. The decline in the Tunisian dinar threatens to erode the North African country’s foreign exchange …
Tunisian dinar slips to lowest vs U.S. dollar in 3 years Read More »
CONAKRY (Reuters) – The interim government of Guinea, the world’s second-largest bauxite producer, on Friday asked international mining companies to present plans to refine their bauxite production into alumina within the country by May 2022. Africa’s biggest producer of the aluminium ore has been seeking to channel its mineral wealth into economic development, pressuring companies …
Guinea asks bauxite miners to present local refinery plans by May Read More »
ABUJA (Reuters) -MTN Nigeria has suspended around 19 million mobile numbers in Nigeria following a government directive to bar calls from unregistered phone lines, the company’s chief executive said on Friday. The government banned outgoing calls from unregistered numbers from April 4. Around 51 million MTN Nigeria subscribers have linked their identification numbers to their …
MTN Nigeria bars 19 million unregistered mobile numbers -CEO Read More »
JOHANNESBURG (Reuters) – South African business confidence slowed in March, as the uncertainty caused by the Russia-Ukraine war weighed, data showed on Friday. The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) fell 95.6 to in March from 96.9 in February. “After indicating a faster recovery in January and February …
S.African business confidence slows in March on Russia-Ukraine war impact Read More »
By Nelson Banya and Sonali Paul HARARE/MELBOURNE (Reuters) -European and Asian coal importers are expected to join the scramble for alternative sources of the fuel as a European Union ban on Russian coal imports looms, analysts and company officials said. But with top exporters Australia and Indonesia having already hit production limits and major producer …
European, Asian coal users scramble for new sources ahead of EU Russia ban Read More »
JOHANNESBURG (Reuters) -South Africa’s rand fell on Thursday, struggling against a stronger dollar after meeting minutes showed the U.S. Federal Reserve preparing to move aggressively to head off inflation. At 1526 GMT, the rand traded at around 14.7774 against the dollar, 0.78% weaker than its previous close. Many Fed officials said they were prepared to …
South Africa’s rand falls as dollar rises after hawkish Fed minutes Read More »
By Duncan Miriri and George Obulutsa NAIROBI (Reuters) -Kenya’s finance minister on Thursday cut the budget deficit for the next fiscal year by two percentage points and pledged to keep subsidising petrol to cushion consumers from high prices. The East African nation, which is the region’s biggest and richest economy, will have a budget deficit …
Kenya’s finance minister cuts budget deficit, pledges more oil subsidies Read More »
By Olivia Kumwenda-Mtambo JOHANNESBURG (Reuters) -South Africa’s Treasury Director-General Dondo Mogajane will leave his post in June and the search for his replacement was underway, the finance ministry said on Thursday. The rand weakened following the news of the departure of an experienced hand at the National Treasury, where he worked for 23 years, with …
South African Treasury chief to leave post in June Read More »
