By Scott DiSavino NEW YORK (Reuters) -Oil prices rose over 2% on Friday after the U.S. Congress passed a debt ceiling deal that averted a government default in the world’s biggest oil consumer and jobs data fueled hopes for a possible pause in Federal Reserve interest rate hikes. The focus is now turning to a …
Oil up over 2% after US debt deal and jobs data; focus turns to OPEC+ Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s central bank has sold the dollar at 645 naira at its latest auction, results showed on Friday, lower than 465 naira where the currency is trading on the official secondary market. Nigeria operates multiple exchange rates, which the central bank has used to manage demand, mask pressure on …
Nigeria’s central bank auctions FX at 645 naira, weaker than spot rate Read More »
By Sonia Rolley (Reuters) – A 25-year deal published this week by the Congolese government hands a little-known UAE firm exclusive rights to export artisanal gold at preferential rates, prompting criticism it will solve none of the issues it was meant to address. Authorities in Democratic Republic of Congo had touted the deal, signed in …
Congo-UAE gold export deal raises ‘great concerns’ Read More »
By Marco Aquino LIMA (Reuters) -Peru is bullish about holding on as the world’s No. 2 copper producer with key projects set to move forward, its mining minister said on Thursday amid a stern challenge from fast growing rival Democratic Republic of Congo. The Andean country has seen its position come under threat by the …
Peru bullish about copper No. 2 spot as Congo closes gap Read More »
JOHANNESBURG (Reuters) – The South African rand gained in early trade on Friday, extending a recovery from the previous session on growing expectations that the U.S. central bank will stand still on interest rates this month. At 0645 GMT, the rand traded at 19.5875 against the dollar, around 0.2% stronger than its previous close. The …
South African rand recovers further on bets for Fed rate pause Read More »
JOHANNESBURG (Reuters) – Steinhoff International said on Thursday it has sought approval from a Dutch court for a debt restructuring plan aimed at saving the South African retailer from bankruptcy. The plan was approved this week by all of its creditors but was rejected by its shareholders. Hurt by financial mismanagement by some of its …
S.African retailer Steinhoff seeks court approval for debt restructuring Read More »
By Chibuike Oguh NEW YORK (Reuters) – Global equities rose on Thursday after the U.S. House of Representatives passed a bill to raise the federal debt ceiling, while U.S. Treasury yields fell as data reflected a cooling labor market that reduces the possibility of an interest rate hike by the Federal Reserve.A bill that suspends …
Global equities rise, U.S. yields fall after debt ceiling bill advances Read More »
By Christian Akorlie and Maxwell Akalaare Adombila ACCRA (Reuters) – Ghanaian labour unions have asked the government for time to assess a proposal presented on Thursday to restructure pension funds worth around 30 billion Ghanaian cedis ($2.7 billion). The West African nation is looking to extend the maturity periods of cedi currency bonds that the …
Ghana unions request time to mull $2.7 billion pension fund restructuring offer Read More »
By Hannah Lang (Reuters) – The dollar was on track for its worst daily loss in nearly a month on Thursday as U.S. manufacturing data and comments by Federal Reserve officials reinforced expectations the Federal Reserve will likely skip an interest rate hike at its upcoming meeting. The euro recovered from a two-month low on …
Dollar stumbles as signs point to Fed skipping June rate hike Read More »
By Shariq Khan BENGALURU (Reuters) -Oil prices rose on Thursday by the most in two weeks ahead of an OPEC+ meeting on Sunday, while House of Representatives passage of a bill to suspend the U.S. debt ceiling helped to offset the impact of rising inventories in the country. U.S. West Texas Intermediate crude (WTI) rose …
Oil rises 3% on US debt ceiling progress, traders on alert for OPEC+ meeting Read More »
