By Duncan Miriri NAIROBI (Reuters) – Kenya Power’s plan to cut its workforce by a fifth is not sound because it ignores the power network’s need for manual labour and will reduce manpower from an already depleted pool, the electric workers union said on Monday. The plans by the East African nation’s sole power distributor …
Kenya Power job cuts plan under fire from trade union Read More »
CAIRO (Reuters) – Egypt’s petroleum minister Tarek El Molla said on Monday that three companies were awarded four bunkering services licenses in following a tender. The companies are Coral Energy, Minerva Bunkering and Peninsula for two licenses on the Red Sea and two on the Mediterranean Sea. (Reporting by Maha El Dahan; writing by Nadine …
Three companies awarded bunkering services licences in Egypt -minister Read More »
JOHANNESBURG (Reuters) – Ivanhoe Mines has signed an agreement with Democratic Republic of Congo’s state mining company Gecamines to bring the Kipushi zinc mine back into commercial production, the Canada-listed miner said on Monday. Kipushi will have an average grade of 36.4% zinc over the first five years of production, Ivanhoe said. The deal, signed …
Ivanhoe Mines, Congo’s Gecamines sign deal to develop Kipushi zinc mine Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenya Airways expects a 20% rise in revenue this year, its chief executive told Reuters, as it battles to end losses in its passenger business and recover from the effects of the COVID-19 pandemic. The airline, in which the government has a 48.9% stake, saw revenue plunge by half …
Kenya Airways sees passenger revenue up by a fifth this year – CEO Read More »
KAMPALA (Reuters) -Uganda’s central bank held its benchmark rate at 6.5% on Monday, as authorities in the East African country looked to strengthen growth prospects after all outstanding anti-coronavirus measures were lifted last month. Policymakers have left the rate unchanged since June, when they cut it from 7%. In December, they said there were still …
Uganda central bank leaves its key rate unchanged at 6.5% Read More »
(Reuters) -South African mining company Sibanye-Stillwater on Monday said it will meet unions this week over a looming strike at its gold operations in the country after some workers backed a walkout. The Commission for Conciliation, Mediation and Arbitration (CCMA), which has been mediating between the two sides, cleared the unions to give strike notice …
Sibanye-Stillwater to meet unions as strike looms at South Africa gold mines Read More »
(Reuters) – Algeria’s Sonatrach oil company said it had signed an agreement with the Niger petroleum ministry to share production in Niger’s Kafra region, the Algerian state news agency said on Saturday, citing a Sonatrach statement. Sonatrach International Petroleum Exploration and Production, a subsidiary of the Algerian company, signed the agreement in Niger’s capital on …
Algeria’s Sonatrach to share production in Niger’s oil-rich Kafra region – statement Read More »
JOHANNESBURG (Reuters) – South African junior miner Royal Bafokeng on Friday recommended its shareholders accept the mandatory offer by Impala Platinum to acquire the company, paving the way to create one of the world’s biggest platinum group metals (PGM) miner. “Implats has put on the table a fair offer for their consideration,” Steve Phiri, RBPLat’s …
S.African miner RBPlat recommends shareholders accept Impala’s offer Read More »
LONDON (Reuters) – Two tankers carrying gasoline loaded in Antwerp, Belgium, have turned back to their load-port after initially being destined for Lagos in Nigeria, Refinitiv Eikon ship tracking and sources said on Friday. The two tankers, STI Symphony and Velos Diamantis, turned back in last week. The U-turns happened after Nigeria rejected other gasoline …
Two gasoline cargoes divert away from Nigeria, ship tracking shows Read More »
JOHANNESBURG (Reuters) -South Africa’s rand ended the week largely flat with hotter-than-expected U.S. inflation prompting more bets on interest rate hikes, lifting the dollar and dampening the rand. At 1440 GMT, the rand was at 15.1600 against the dollar, 0.1% stronger than its closing level on Thursday, though slightly higher than its level in earlier …
Strong dollar weighs on S.African rand, faster rate hike bets hit stocks Read More »
