By Sinéad Carew and Marc Jones NEW YORK, LONDON (Reuters) – MSCI’s global index of stocks rose on Thursday to its highest level since April 2022 after strong U.S. economic data, but the dollar slid following the European Central Bank’s interest rate increase a day after the Federal Reserve paused its hikes. While U.S. jobless …
Stocks rally, dollar falls after U.S. data, ECB hike, hawkish Fed pause Read More »
ACCRA (Reuters) – The International Monetary Fund (IMF) said on Thursday that Ghana’s economy is showing signs of stabilization, with softening inflation, an increase in international reserves and a less volatile exchange rate. The IMF statement was issued at the end of a week-long visit to the country as part of regular engagements under Ghana’s …
IMF says Ghana’s economy showing signs of stabilization Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices gained about 3% to a one-week high on Thursday on a weaker U.S. dollar and a jump in refinery runs in top crude importer China. Brent futures rose $2.47, or 3.4%, to settle at $75.67 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2.35, or …
Oil futures up 3% on strong China refinery data, weaker US dollar Read More »
DAR ES SALAAM (Reuters) – Tanzania plans a 7% increase in overall government spending in the next fiscal year during which it will prioritise spending on railways, the national airline, electricity production and natural gas, Finance Minister Mwigulu Nchemba said on Thursday. Tanzania expects overall spending to reach 44.39 trillion Tanzanian shillings ($18.6 billion) in …
Tanzania sees spending rising 7% in 2023/24 budget – finance minister Read More »
JOHANNESBURG (Reuters) -The South African rand extended its gains on Thursday, a day after the U.S. Federal Reserve opted to keep interest rates unchanged. At 1530 GMT, the rand traded at 18.3000 against the dollar, 0.25% stronger than its previous close. On Wednesday, the rand gained over 1% to its strongest level in five weeks. …
(Reuters) – Ethiopian Airlines earnings jumped 20% to $6.1 bln in the 2022/2023 fiscal year, despite the impact of Russian-Ukraine war and the increase in fuel prices, the country’s state news agency reported on Thursday. The airline transported 13.7 million passengers and 723,000 tons of cargo in the fiscal year, which ends on July 7, …
Ethiopian Airlines earnings jump 20% in 2022/2023 fiscal year Read More »
JOHANNESBURG (Reuters) -Trade unions at South African power utility Eskom agreed a new three-year wage deal on Thursday giving a 7% pay rise for each year. Negotiators for the National Union of Mineworkers (NUM), the National Union of Metalworkers of South Africa (NUMSA) and Solidarity had been in talks with Eskom since April on a …
South African trade unions sign new wage deal with Eskom Read More »
By Nelson Banya and Felix Njini (Reuters) – South Africa’s output of platinum group metals (PGM) should rebound in 2024 as the country starts to recover from a power crisis that will cut its production by as much as 20% this year, Neal Froneman, CEO of miner Sibanye Stillwater, said. South Africa, the world’s top …
Sibanye CEO expects S.Africa’s platinum output to rebound in 2024 Read More »
By Felix Onuah ABUJA (Reuters) -Nigeria’s President Bola Tinubu picked banker Olawale Edun on Thursday to advise on monetary policy, alongside others on security and energy, in a series of appointments to help steer a path of reforms in the West African country. Tinubu, who took office last month, is embarking on Nigeria’s biggest reform …
Nigeria’s Tinubu picks banker Olawale Edun to advise on monetary policy Read More »
NAIROBI (Reuters) – The following are highlights of the Kenyan government’s budget for the 2023/24 fiscal year as presented to parliament by Finance Minister Njuguna Ndung’u. The government’s financial year starts on July 1. ON PUBLIC DEBT: “Kenya’s public debt remains sustainable, but with elevated risks of debt distress due to persistent global shocks that …
Kenya finance minister’s budget speech for 2023/24 Read More »
