By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled lower on Friday, posting a weekly decline as traders worried interest rate hikes could sap demand despite signs of tighter supplies including lower U.S. crude stocks. In a second straight day of losses, Brent crude closed down 29 cents, or 0.4%, to $73.85 a barrel. U.S. West …
Oil dips on demand worries as more rate hikes likely Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against the euro on Friday after dismal business activity data from around the globe soured risk sentiment and as hawkish comments from central banks added to pressure on riskier currencies. U.S. business activity fell to a three-month low in June as services growth eased for …
Dollar higher on safety bid as data spurs growth worries Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened more than 1% against the U.S. dollar on Friday as concerns about global economic growth weighed on risk sentiment. At 1548 GMT, the rand traded at 18.7475 against the dollar, about 1.2% weaker than its previous close. Hawkish comments from global central banks, including the U.S. Federal Reserve, stoked …
South African rand, stocks fall as dollar gains from risk aversion Read More »
By Julia Payne, Dmitry Zhdannikov and Libby George BRUSSELS/LONDON (Reuters) – Nigeria has accumulated up to $3 billion in debts to trading houses such as Vitol and oil majors such as BP for fuel supplies and is trailing four to six months behind schedule in repaying them with cargoes of crude, four traders and executives …
Nigeria amasses $3 billion debt to traders for oil swaps – sources Read More »
NAIROBI (Reuters) – Air France KLM sees potential for further expansion in its main Africa region thanks to growing demand, with the continent a strategic priority for the group, executives said on Friday. “We believe there is more potential to be grabbed especially here in Kenya,” said Marius van der Ham, the regional manager for …
Air France KLM sees potential for further Africa expansion Read More »
TUNIS (Reuters) – Tunisia is working with the International Monetary Fund on a “fair” economic reform programme that takes account of vulnerable groups, central bank governor Marouan Abassi said on Friday. His comments come after Tunisian President Kais Saied told IMF Managing Director Kristalina Georgieva during a meeting in Paris on Thursday that the fund’s …
Tunisia working with IMF on ‘fair’ economic programme -cbank governor Read More »
By Leigh Thomas PARIS (Reuters) -Zambia has struck a deal to restructure $6.3 billion in debt owed to other governments, including China, marking a long-awaited breakthrough for indebted nations around the world that have faced lengthy negotiations with creditors. Zambia in 2020 became the first African country to default on its sovereign debt during the …
Zambia seals $6.3 billion restructuring in breakthrough for developing nations Read More »
(Reuters) – Tunisia’s President Kais Saied told the International Monetary Fund’s managing director that the fund’s conditions to provide financial support to the North African country risks sparking civil unrest, the Tunisian presidency said on Friday. “The President of the Republic made it clear that the International Monetary Fund’s conditions for providing financial support to …
Tunisia tells IMF conditions for financial support risk unrest Read More »
NEW YORK (Reuters) – MSCI will continue to consult with financial market participants on a potential reclassification of Nigeria to standalone market from frontier market after recent changes to foreign exchange trading, the index provider said on Thursday. Nigeria’s central bank last week moved to liberalize the foreign exchange market and unify exchange rates, and …
MSCI keeps eye on Nigeria market classification after recent FX changes Read More »
LONDON (Reuters) -Zambia on Thursday confirmed it had agreed a debt restructuring deal with its official creditors, adding it would now seek a quick agreement with its private creditors as well. The deal was announced earlier by a French official, who said Zambia’s public sector creditors had agreed to reschedule $6.3 billion of payments and …
Zambia confirms it has agreed debt restructuring with official creditors Read More »
