By Tannur Anders JOHANNESBURG (Reuters) -The South African rand recovered from a record low hit earlier on Thursday, following a hammering in May on the back of souring investor sentiment. At 1538 GMT, the rand traded at 19.5925, up 0.66% from its previous close. It fell to its lowest level of 19.9075 against the U.S. …
South African rand recovers from record low amid investor caution Read More »
By Nyasha Chingono HARARE (Reuters) – Zimbabwe’s state power utility ZESA aims to more than double national grid capacity by 2025 to respond to increased demand from the mining sector, its chief executive said on Thursday. The country currently has a generating capacity of 2,000 megawatts (MW) but is only producing 1,400 MW due to …
Zimbabwe aims to double power output by 2025 to meet mining demand Read More »
ABUJA (Reuters) – Nigeria’s state owned oil company NNPC will soon end its monopoly on petrol supplies, its chief executive told local television on Thursday, a day after it nearly tripled prices at its fuel stations countrywide. Newly inaugurated President Bola Tinubu pledged to remove fuel subsidies, a popular but costly benefit that has drained …
Nigeria’s NNPC says it will end monopoly on petrol supplies -local TV Read More »
JOHANNESBURG (Reuters) – South African manufacturing activity contracted for the fourth consecutive month in May, with a particularly steep decline in expected business conditions, a survey showed on Thursday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) edged down to 49.2 in May from 49.8 in April, moving further below the 50-point mark that separates expansion …
South African factory activity contracts for 4th straight month – Absa PMI Read More »
By Francesca Landini MILAN (Reuters) – Italy’s Eni is investing in farming in several African and Asian countries as it aims to produce by itself around one fifth of the agricultural feedstock it will need for its biofuel business by 2025, two top executives at the energy group said. Energy companies are betting on increasing …
Eni bets on agri-business in Africa to expand biofuel production Read More »
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The pace of interest rate hikes across major central banks showed little sign of slowing in May but the scale of the tightening tapered off, with growth woes and “sticky” inflation data prompting policymakers to tread more cautiously. All six of the central banks overseeing one …
By Chibuike Oguh NEW YORK (Reuters) -Global equities and U.S. Treasury yields were lower on Wednesday as risk-off sentiment dominated markets, with investors focused on a much-anticipated vote in Congress on raising the U.S. debt ceiling. The U.S. House of Representatives is set to vote on Wednesday on a bipartisan deal that would lift the …
Global equities, US yields fall ahead of debt ceiling vote Read More »
(Updates prices throughout story, adds analyst comment in paragraphs 7 and 8, recasts lede and paragraphs 2, 3 and 4 to reflect comments from Fed governor) By Hannah Lang WASHINGTON (Reuters) – The U.S. dollar retreated from a more than two-month high on Wednesday after a Federal Reserve official warned any decision by the central …
Dollar backs off highs after Fed officials suggest skipping June rate hike Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower on Wednesday, pressured by a stronger U.S. dollar and weak data from top oil importer China that fed demand fears. Brent crude futures for August delivery settled down $1.11 to $72.60 a barrel. U.S. West Texas Intermediate crude (WTI) settled down $1.37, or 2%, to $68.09. At …
Oil settles lower on weak China data, stronger US dollar Read More »
BAMAKO (Reuters) – Mali has revised its 2023 industrial gold forecast to 67.7 tonnes, up from a previous forecast of 63.9 tonnes, according to mines ministry data shared with Reuters on Wednesday. Mali is one of Africa’s top gold producers and home to industrial mines operated by companies including Barrick Gold, B2Gold Corp, Resolute Mining, …
Mali revises 2023 industrial gold forecast up 6% to 67.7 tonnes Read More »
