By Nicole Jao NEW YORK (Reuters) -Oil prices gained about 1% on Monday after the OPEC+ production increase planned for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains. Brent crude futures settled 94 cents, or 1.46%, higher at $65.47 …
Oil rises after OPEC+ hikes output less than expected Read More »
TUNIS (Reuters) -Algeria will invest $60 billion in energy projects between 2025 and 2029 as part of a large-scale strategy to boost oil, gas and hydrogen development, Energy and Mines Minister Mohamed Arkab said on Monday. Speaking at an energy forum in Algiers, Arkab said 80% of the investment will be directed toward upstream exploration …
Algeria plans $60 billion energy investment over five years, Energy minister says Read More »
ABUJA (Reuters) -The African Development Bank (AfDB) will lend Nigeria $500 million this year as part of a $1 billion budget support programme, following economic reforms introduced by President Bola Tinubu, an executive director of the bank said on Monday. Bode Oyetunde, who represents Nigeria and São Tomé and Príncipe on the AfDB board, said …
AfDB to lend Nigeria $500 million in budget support, says bank executive Read More »
(Reuters) -JPMorgan Chase on Monday named Conor Hillery and Matthieu Wiltz as co-chief executive officers for Europe, the Middle East and Africa, according to an internal memo seen by Reuters. The move comes at a time when JPMorgan is deepening its focus in the region, with a target to increase its EMEA revenues by 20% …
JPMorgan names Hillery, Wiltz as EMEA co-CEOs, memo says Read More »
(Reuters) -Barrick Mining said on Monday it will sell its interests in the Tongon gold mine and certain assets in Ivory Coast to Atlantic Group for up to $305 million as the Candian miner looks to strengthen its balance sheet. Shares of Barrick rose 3% in morning trading on the Toronto Stock Exchange. The deal …
Barrick to sell Tongon mine in up to $305 million deal Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Monday as global investors weighed how long the United States’ government shutdown will last and its potential impact. At 1338 GMT the rand, which is often sensitive to shifts in global risk sentiment, traded at 17.2500 against the dollar, a whisker away from its Friday close of …
South African rand weaker amid U.S shutdown uncertainty Read More »
By Lucy Raitano and Kevin Buckland TOKYO/LONDON (Reuters) -Global stocks firmed on Monday after recovering from an earlier rout when the collapse of the French government took markets by surprise, while political developments in Japan lifted Japanese equities but weighed on the yen. New French Prime Minister Sebastien Lecornu resigned on Monday, barely 14 hours …
Global stocks steady even as political upheaval dominates markets Read More »
NAIROBI (Reuters) -Kenya is setting up a sovereign wealth fund and an infrastructure fund, President William Ruto said, to invest in key sectors without repeating a debt binge that has strained public finances in recent years. The East African nation has one of the highest debt repayments to revenue ratios on the continent, after it …
Kenya to set up sovereign wealth and infrastructure funds, president says Read More »
BLANTYRE (Reuters) -Malawi’s newly-elected President Peter Mutharika named Joseph Mwanamvekha as finance minister late on Sunday, returning him to a role he held from 2016 to 2020 as the country faces challenges such as foreign exchange shortages and rising living costs. Mwanamvekha is an economist and former banker and served during Mutharika’s first administration. His …
Malawi’s president appoints economist Mwanamvekha as finance minister Read More »
By Ange Kasongo Kinshasa (Reuters) -The Democratic Republic of Congo will permanently ban cobalt exporters that violate its new quota system, President Felix Tshisekedi has warned, as the world’s top producer tightens controls to curb fraud and stabilize prices. Congo, which accounts for about 70% of global cobalt output, halted exports in February after prices …
Congo to permanently ban cobalt exporters that breach quotas, says President Tshisekedi Read More »
