By Arathy Somasekhar HOUSTON (Reuters) – Oil prices were little changed on Tuesday as upbeat economic data in No. 2 oil consumer China offset concerns that possible increases in U.S. interest rates could dampen growth in the top consuming country. Brent crude settled 1 cent, or 0.01%, higher at $84.77 a barrel, while West Texas …
Oil prices steady as strong China data offsets US rate worries Read More »
By Herbert Lash and Samuel Indyk NEW YORK/LONDON (Reuters) – The dollar fell against most major currencies on Tuesday after better-than-forecast growth data from China, while strong pay figures from Britain supported the pound. China’s gross domestic product (GDP) grew 4.5% year on year in the first three months of the year, data showed, beating …
Dollar slips after upbeat China data; euro, pound rise Read More »
JOHANNESBURG (Reuters) -South African stocks and the rand strengthened on Tuesday after the resources index jumped on the back of higher platinum group metals (PGM) prices. On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed up 0.88%, while the broader all-share index ended 0.73% higher. The resources index, which jumped over 4% from its …
Metal prices drive South African stocks higher; rand rises Read More »
(This April 17 story has been corrected to reflect that divestiture had not been concluded in paragraph 3) By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp. in Nigeria declared force majeure on oil liftings from different terminals in the country following industrial action by the company’s in-house workers union, the company said on Monday …
Exxon declares force majeure on crude liftings in Nigeria Read More »
WINDHOEK (Reuters) – Canadian gold miner B2Gold Corp has started the phased closure of its Otjikoto open-pit mine in Namibia because of its depleted gold resource, the company said on Tuesday. The mine, which began commercial production in March 2015, produced 161,614 ounces of gold in 2022, contributing nearly 16% of B2Gold’s total output last …
B2Gold begins phased closure of Namibia’s Otjikoto mine Read More »
KAMPALA (Reuters) – The Ugandan shilling was slightly weaker on Tuesday, pressured by appetite for hard currency from some players in the interbank market and energy importers, traders said. At 0731 GMT commercial banks quoted the shilling at 3,740/3,750 to the U.S. dollar, compared with Monday’s close of 3,730/3,740. (Reporting by Elias Biryabarema; editing by …
By Rachel Savage and Chris Mfula LUSAKA (Reuters) – The Comesa market in Zambia’s capital Lusaka appears to be bustling, but traders say business is suffering as a weak local currency pushes up prices, adding to the hardships of a population already struggling with soaring living costs. “The dollar is killing us,” said Ben Mwandila, …
Zambians struggle with cost of living as debt rework drags on Read More »
JOHANNESBURG (Reuters) – South African lender Capitec on Tuesday reported a 15% rise in annual profit, on the upper end of its forecast range, helped by higher interest rates and loan, investment and insurance transactions. The bank’s headline earnings per share – the main profit measure in South Africa – stood at 8,420 cents in …
South Africa’s Capitec bank reports 15% rise in profit Read More »
By David Lawder WASHINGTON (Reuters) – A major U.S. trade preference program for Sub-Saharan Africa has been successful for developing the region’s apparel sector in selected countries, but its benefits are not widespread throughout all countries and sectors, a new report to the U.S. Congress showed on Monday. The U.S. International Trade Commission (USITC) said …
U.S.-Africa duty free program has had mixed results -trade panel report Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks was slightly higher on Monday as investors digested another round of corporate earnings, while the dollar and U.S. Treasuries yields rose after economic data further cemented expectations of a rate hike from the Federal Reserve in May. After the first wave of bank …
