LAGOS (Reuters) – Nigeria’s annual inflation accelerated to 22.04% in March from 21.91% in the previous month, its bureau of statistics said on Saturday. Inflation has remained elevated in Africa’s biggest economy, eroding savings and incomes, and prompting the central bank to hike interest rates to their highest level in nearly two decades. Food inflation, …
CAIRO (Reuters) -Egypt’s state grains buyer started offering yellow corn on the country’s newly-launched commodities exchange on Thursday, exchange head Ibrahim Ashmawy said in a statement on Saturday. Egypt’s state buyer, the General Authority for Supply Commodities (GASC), started issuing rare tenders for corn earlier this year in an effort to address a feed crisis …
Egypt begins offering corn on commodities exchange Read More »
By Jorgelina do Rosario and Joe Bavier WASHINGTON (Reuters) -South Africa will not fall into recession this year despite a gloomy International Monetary Fund (IMF) forecast and a contraction in the last three months of 2022, its finance minister told Reuters in an interview on Friday. Africa’s most developed economy is the midst of a …
South Africa’s finance minister rules out recession in 2023 Read More »
By Herbert Lash NEW YORK (Reuters) – Treasury yields rose and the dollar index bounced off a one-year low on Friday after a decline in U.S. retail sales suggested the economy is slowing but not fast enough to stop the Federal Reserve from raising interest rates again in May. Stocks on Wall Street fell and …
Dollar, yields gain as likelihood of Fed rate hike rises Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar index bounced off a one-year low against a basket of currencies on Friday after some March retail sales components were not as weak as some economists had feared, while a key Federal Reserve official warned that the U.S. central bank needs to continue hiking interest rates …
Dollar bounces off one-year low, weak retail sales not as bad as feared Read More »
By Laila Kearney NEW YORK (Reuters) -Oil prices were up on Friday and secured a fourth straight week of gains after the West’s energy watchdog said global demand will hit a record high this year on the back of a recovery in Chinese consumption. The International Energy Agency (IEA) also warned that deep output cuts …
Oil rises, logs weekly gains after IEA predicts record demand Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Friday as the dollar jumped higher after hawkish comments by a Fed official on the U.S. central bank’s future interest rate trajectory. At 1602 GMT, the rand traded at 18.1275 against the dollar, around 0.42% lower than its previous close. The dollar index, which measures the currency …
South African rand weakens as dollar gains on hawkish Fed governor Read More »
ROME (Reuters) – Italy’s government will announce a plan focused on energy cooperation with Africa in October, Prime Minister Giorgia Meloni said on Friday during a visit to Ethiopia. The so-called “Mattei plan”, named after the founder of Italian energy group Eni, Enrico Mattei, aims to turn Italy into a major energy hub, distributing gas …
Italy to announce Africa energy cooperation plan in October, says PM Read More »
By Joe Bavier WASHINGTON (Reuters) -Africa is facing a severe financing squeeze that, on the back of a series of unprecedented shocks, is disrupting economic growth and endangering its long-term development, the International Monetary Fund’s (IMF) top official for the region said. Sub-Saharan Africa was only beginning to recover from the COVID-19 pandemic’s economic fallout …
Africa needs bilateral help to cope with major funding squeeze, IMF says Read More »
(This April 13 story has been corrected to fix the year of the last dollar bond issuance to 2022, not 2019) By Joe Bavier and Jorgelina do Rosario WASHINGTON (Reuters) – Angola’s next sovereign debt issuance will be an ESG bond of up to $1 billion, its finance minister told Reuters on Thursday, but she …
Angola’s next debt issuance to be ESG bond, but not in 2023 Read More »
