By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% on Wednesday as the second straight weekly draw from U.S. crude stockpiles was bigger than expected, offsetting worries that further interest rate hikes could slow economic growth and reduce global oil demand. Brent futures rose $1.77, or 2.5%, to settle at $74.03 a barrel. …
Oil prices jump 3% on bigger-than-expected decline in US crude storage Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index rose on Wednesday following comments from a host of global central bank leaders, including Federal Reserve Chair Jerome Powell, who did not rule out the possibility of another rate hike by the Fed at its next meeting in July. Powell, speaking at a European Central …
Dollar strengthens after ECB conference, yen stays soft Read More »
By Jorgelina do Rosario LONDON (Reuters) – The International Monetary Fund executive board will meet on July 12 to complete the first review of its $1.3 billion extended fund facility (EFF) programme for Zambia, according to people with direct knowledge of the matter. The board meeting comes after Africa’s second-biggest copper producer clinched a deal …
IMF board to meet on July 12 for first review of Zambia’s programme -sources Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Wednesday as the U.S. dollar edged higher after Federal Reserve Chair Jerome Powell did not rule out the possibility of another interest rate hike next month. At 1537 GMT, the rand traded at 18.6850 against the U.S. dollar, around 0.88% weaker than its previous close. The dollar …
South African rand falls against stronger dollar Read More »
(Reuters) – New European Union pest control rules will cut South Africa’s orange exports to Europe by 20% this year, threatening thousands of jobs, the Citrus Growers Association (CGA) has said. The new measures imposed by the EU last June require enhanced cold treatment for citrus exports due to concerns over False Codling Moth, a …
South African citrus growers say EU pest rules putting squeeze on exports Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana has reached an agreement with banks to restructure 15 billion Ghana cedi ($1.36 billion) of locally issued U.S. dollar bonds and cocoa bills, three sources close to the negotiations have told Reuters. The West African nation is seeking new terms for the restructuring of its domestic debt …
Ghana agrees restructuring deal with banks on some domestic debt Read More »
By Muyu Xu SINGAPORE (Reuters) – Uganda National Oil Co (UNOC) expects to start oil production from the Tilenga project in the first half of 2025, the company’s CEO said on Wednesday. “The drill kits have been put up and the drilling has started,” Uganda National Oil Co CEO Proscovia Nabbanja told Reuters on the …
Uganda expects to start oil production from Tilenga project in 2025 Read More »
By Saurabh Sharma and Krishna N. Das NEW DELHI (Reuters) – The Indian manufacturer of cough syrups that Uzbekistan said last year had poisoned 19 children used a toxic industrial-grade ingredient rather than the legitimate pharmaceutical version, two sources with knowledge of the matter told Reuters. The company, Marion Biotech, bought the ingredient — propylene …
Exclusive-Indian firm used toxic industrial-grade ingredient in syrup – sources Read More »
(Refiles to correct first sentence to fix day of week to Tuesday) By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index retreated on Tuesday after a host of economic data releases indicated the U.S. economy remains resilient and may not be close to a recession, while the euro strengthened after comments from European Central …
Dollar weaker after data burst, euro rises on ECB comments Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices slumped over 2% on Tuesday on signals that central banks may not be done with interest rate hikes, while industry data showed lower U.S. crude and gasoline inventories during the peak summer driving season. Brent crude futures settled down $1.92, or 2.6%, at $72.26 a barrel. U.S. …
Oil prices drop over 2% on interest rate hike worries Read More »
