By Seun Sanni LAGOS (Reuters) -Domestic flights in Nigeria were being disrupted on Monday, local airlines said, as aviation employees in Lagos blocked roads to the country’s busiest local airport to begin a two-day strike in protest over working conditions and wages. The strike is likely to add to problems in a sector that regularly …
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By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) – The dollar rose on Monday after New York state factory activity in April increased for the first time in five months, helping bolster expectations the Federal Reserve will raise interest rates in May. Also bolstering the dollar was a report showing confidence among U.S. single-family …
Dollar gains after strong New York factory survey Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices turned lower on Monday as the U.S. dollar strengthened and as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes. Brent crude futures fell $1.55, or 1.8%, to settle at $84.76 a barrel, while U.S. West …
Oil drops 2% on higher dollar, interest rate concerns Read More »
JOHANNESBURG (Reuters) -The South African rand fell on Monday as the dollar gained on global markets, while stocks were down at the day’s close. At 1620 GMT, the rand traded at 18.3100 against the dollar, 1.33% weaker than its closing level on Friday. The dollar index, which measures the currency against six rivals, was last …
South African rand slips against stronger dollar; stocks down Read More »
KAMPALA (Reuters) – Uganda’s economy grew 6.8% in the first six months of the 2022/23 fiscal year that runs until the end of June, up from 3.7% in the same period of the previous fiscal year, the finance ministry said on Monday. Growth was mainly driven by the services, agriculture, forestry and fishing sectors. The …
Uganda’s GDP grows 6.8% in first half of 2022/23 fiscal year Read More »
(Reuters) – The Kenyan shilling weakened slightly on Monday on demand for dollars from energy importers and foreign-owned firms looking to pay dividends to overseas shareholders, traders said. At 0719 GMT commercial banks quoted the shilling at 134.60/80 to the U.S. dollar, weaker than Friday’s close of 134.50/70. The Kenyan shilling is 8.4% weaker against …
Kenyan shilling weaker on dollar demand from energy importers Read More »
KAMPALA (Reuters) – The Ugandan shilling was stable on Monday, with mid-month tax payments depressing demand for hard currency from importing firms, traders said. At 0746 GMT commercial banks quoted the shilling at 3,725/3,735 to the U.S. dollar, the same as Friday’s close. (Reporting by Elias Biryabarema; editing by Alexander Winning)
By Jorgelina do Rosario and Rodrigo Campos WASHINGTON/NEW YORK (Reuters) – Zambia last week gave its bondholders a “concrete proposal” for the restructuring of some $3 billion in eurobonds, the ministry of finance and national planning said on Friday. “We continue to engage actively with our bondholders and proposals are being exchanged,” the ministry told …
Zambia sent bondholders debt restructuring proposal, finance ministry says Read More »
ABUJA (Reuters) – Nigeria’s airports face two days of disruption from Monday as aviation workers stage a second strike this year in protest over working conditions and wages, unions said on Friday. The country’s aviation industry is facing problems, including poor facilities, jet fuel shortages that often ground domestic flights and a lack of foreign …
Nigeria’s aviation workers face call to strike from Monday – unions Read More »
By Joe Bavier WASHINGTON (Reuters) – Africa is struggling with the triple shock of rising debt burdens, an ongoing food crisis and climate change fallout and needs more help from international institutions and wealthy nations to cope, African finance ministers said on Saturday. Developing African economies were only beginning to recover from the COVID-19 pandemic …
Africa needs more help with climate change, debt and food crises Read More »
