CAIRO (Reuters) -Egypt’s annual core inflation rose to 40.3% in May from 38.6% in April, data from the central bank showed on Sunday. Inflation has risen sharply over the last year in Egypt after a series of currency devaluations, a prolonged shortage of foreign currency, and continuing delays in getting imports into the country. Month …
By MacDonald Dzirutwe LAGOS (Reuters) -Nigeria’s suspended central bank Governor Godwin Emefiele has been detained and is being held in custody for investigative reasons, the police’s Department of State Services (DSS) said on Saturday. The country’s new President Bola Tinubu suspended Emefiele with immediate effect on Friday, a measure the government said was linked to …
Nigeria’s security agency detains suspended central bank governor Read More »
By Sofia Christensen DAKAR (Reuters) – A KFC restaurant ransacked. Public transport torched. Glass-paneled stations for a multi-million dollar electric bus link shattered. A water plant vandalised. Senegal is taking stock of the damage after the jail sentencing of prominent opposition figure Ousmane Sonko sparked the worst civil unrest in decades that threatens to dent …
From restaurants to water towers, unrest dents Senegal’s economy Read More »
By Naomi Rovnick and Koh Gui Qing NEW YORK/LONDON (Reuters) -U.S. shares struck new highs for the year on Friday and helped lift world stocks to a 13-month peak, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S. markets being drained of cash. Helped by a …
World shares at 13-month peak as Wall St scales 2023 highs Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar bounced off two-week lows on Friday as investors awaited inflation data and the Federal Reserve’s interest rate decision next week for any new clues on how high the U.S. central bank is likely to hike rates. The Fed is expected to hold rates steady at its …
By Shariq Khan BENGALURU (Reuters) – Oil prices fell more than a dollar a barrel on Friday to record a second straight weekly decline, as disappointing Chinese data added to doubts about demand growth after Saudi Arabia’s weekend decision to cut output. Brent crude futures fell $1.17, or 1.5%, to settle at $74.79 a barrel, …
Oil posts second weekly decline as demand concerns overshadow Saudi cut Read More »
ABUJA (Reuters) – Nigeria’s downstream oil regulator has alleged ExxonMobil Corp was involved in the illegal lifting of petroleum products from an offshore terminal, according to a letter of complaint to the petroleum ministry seen by Reuters. Exxon denied the accusation, saying in an emailed response that its “operations are carried out in full compliance …
Nigerian regulator links Exxon to illegal lifting of petroleum from terminal Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened further on Friday after a strong week of gains boosted by encouraging economic data at home. At 1508 GMT, the rand traded at 18.7000 to the dollar, around 0.72% stronger than its previous close. The rand has gained more than 4% against the dollar this week, recovering steep losses …
South African rand strengthens further after strong week of gains Read More »
ACCRA (Reuters) – Ghana recorded a 32% increase in gold production last year, enabling it to win back the top spot from South Africa as the largest gold producer on the continent, the president of the mines chamber said on Friday. Ghana lost the position to South Africa in 2021 after a drastic fall in …
Ghana returns to gold top spot as output jumps 32% Read More »
JOHANNESBURG (Reuters) -South African retailer The Foschini Group (TFG) on Friday said it will slow the pace of new store openings, in part because power cuts forced it to spend 200 million rand ($10.69 million) on alternative power sources. The company, which is among the top three clothing retailers in the country, also spent more …
S.African retailer TFG halts new store opening as power woes bite Read More »
