(Reuters) – The World Bank Group’s private investment arm and guarantee agency have pledged more support for the first private telecoms operator in Ethiopia, Safaricom Ethiopia. In September investment arm the International Finance Corporation (IFC) said it planned to inject up to $160 million in equity, but in a statement dated June 8 World Bank …
World Bank Group pledges more support for Safaricom Ethiopia Read More »
By Marc Jones and Koh Gui Qing NEW YORK/LONDON (Reuters) – World stocks rose on Thursday and Treasury yields edged lower as investors leaned toward bets that the U.S. Federal Reserve is likely to abstain from raising interest rates next week. This view was bolstered by Thursday’s data showing the number of Americans filing new …
Shares rise, Treasury yields fall as US jobless claims surge Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower on Thursday but rebounded from earlier losses after the U.S. and Iran both denied a report that they were close to a nuclear deal. Oil fell by more than $3 on the report that the U.S. would give Iran sanctions relief to export oil in return for …
Oil prices partially recover after US, Iran deny reported nuclear deal Read More »
WINDHOEK (Reuters) – Namibia has banned the export of unprocessed lithium and other critical minerals, the government announced on Thursday, as it seeks to profit from growing global demand for metals used in clean energy technologies. The southern African country has significant deposits of lithium, which is vital for renewable energy storage, as well as …
Namibia bans export of unprocessed critical minerals Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia’s overall spending is expected to rise slightly and economic growth to accelerate in the next fiscal year starting in July, its finance minister said on Thursday. Ahmed Shide said in a budget speech to be presented to parliament that overall spending would rise to 801.65 billion birr …
Ethiopia expects higher spending, growth in next fiscal year Read More »
JOHANNESBURG (Reuters) -The South African rand jumped on Thursday, clinging to gains made since the start of the week on a weakening dollar and encouraging domestic data. At 1512 GMT, the rand traded at 18.8600 against the dollar, more than 1.2% stronger than its previous close. The dollar was last trading at 103.390 – around …
South African rand jumps on encouraging domestic data Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s rand is likely to recoup only half of its over 10% losses made against the dollar so far this year in 12 months as electricity shortages weigh heavily on its potential to make sustainable gains, a Reuters poll found on Thursday. The rand strengthened below 19 to …
By Mathieu Rosemain and Geert De Clercq PARIS (Reuters) -Societe Generale has agreed to sell some of its businesses in Africa in a first move by the French bank’s new CEO to sharpen its use of capital. France’s third-biggest listed bank said on Thursday it had signed agreements with pan-African banking groups Vista and Coris …
SocGen pares back Africa businesses in first move by new CEO Read More »
DAKAR (Reuters) – Societe Generale on Thursday agreed to sell some of its businesses in Africa to pan-African banking groups Coris International and privately-held Vista. The two are part of a new generation of emerging lenders that are picking up assets as banking majors such SocGen, BNP Paribas, Standard Chartered and Barclays reduce their footprint …
Explainer-Who are the lenders stepping up as SocGen scales back in Africa Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices climbed about 1% on Wednesday as Saudi Arabia’s plans for deep output cuts more than offset demand woes stemming from rising U.S. fuel stocks and weak Chinese export data. Brent crude futures settled 66 cents, or 0.9%, higher at $76.95 a barrel, while U.S. West Texas Intermediate crude …
Oil prices rise as Saudi output cuts outweigh weak demand signals Read More »
