(Reuters) – Faberge jewellery brand owner Gemfields Group reported a 2% rise in full-year profit on Friday helped by higher prices for uncut emeralds and rubies. The precious stone miner said headline earnings per share, the main profit measure in South Africa, rose to 4.8 U.S. dollar cents for the year ended Dec. 31, from …
Gemfields full-year profit rises 2% on record ruby, emerald sales Read More »
By Duncan Miriri NAIROBI Reuters) – Kenya’s government is close to approving a restructuring plan for Kenya Airways to replace one introduced by the previous administration and backed by the International Monetary Fund (IMF), the airline’s CEO told Reuters. The airline, one of Africa’s three biggest, fell into insolvency in 2018 after an expansion drive …
Kenya Airways says restructuring plan soon to be approved Read More »
BEIJING/ACCRA (Reuters) – Ghana’s finance ministry said on Friday after meetings it held in China that it expected to secure financing assurances “very soon”. Ghana secured a staff-level agreement through the International Monetary Fund in December for a $3 billion loan but must first ask bilateral lenders to provide financing assurances on existing debts before …
Ghana’s finance ministry: expects financing assurances ‘very soon’ amid China visit Read More »
JOHANNESBURG (Reuters) – South African lender Absa Group aims to cut its net carbon emissions to zero by 2050 by curtailing lending to coal, oil and gas projects as well as increasing its exposure to renewables, it said on Friday. “Absa Group, Africa’s largest funder of renewables, announced today its long-term ambition to reach net …
South African lender Absa targets net zero carbon emissions by 2050 Read More »
By Ghaida Ghantous DUBAI (Reuters) -Emirates Airline has a “substantial” amount of ticket sale revenue trapped in Nigeria and has made only slow progress in repatriating blocked funds out of Africa’s biggest economy, it said on Friday. A day earlier Nigeria’s aviation minister Hadi Sirika told reporters that the Dubai-based carrier had received most of …
Emirates airline says ‘substantial’ ticket revenue trapped in Nigeria Read More »
By David Lawder, Kanishka Singh and Sinéad Carew (Reuters) -U.S. Treasury Secretary Janet Yellen sought to reassure jittery investors that American bank deposits were safe and promised policymakers had more firepower to battle any crisis even as bank stocks resumed their slide on Thursday. Investors have dumped banking stocks globally over the past two weeks, …
Yellen tries to assuage investor fears as bank stocks slide Read More »
N’DJAMENA (Reuters) – Chad has nationalized all the assets and rights including hydrocarbon permits and exploration and production authorisations that belonged to a subsidiary of Exxon Mobil, the Central African nation’s energy and hydrocarbons ministry said in a statement on Thursday. Exxon Mobil said in December that it had closed the sale of its operations …
Chad says it has nationalized all assets owned by Exxon Mobil Read More »
ACCRA (Reuters) – Ghana’s independent power producers have rejected a government proposal to restructure a $1.4 billion debt owed them by the West African nation, the chief executive of their lobby group said on Thursday. Elikplim Kwabla Apetorgbor, the head of Ghana Independent Power Producers Chamber, told Reuters they could not guarantee power generation if …
Ghana’s power producers urge government to pay $1.4 billion debt Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened against a weaker dollar on Thursday after the U.S. Federal Reserve signalled that it would pause its interest rate hiking path. The Fed on Wednesday raised interest rates by a widely expected 25 basis points (bps), but dropped language about “ongoing increases” being needed in favour of “some additional” …
LONDON (Reuters) – Global central banks must juggle the need to control inflation through higher interest rates and to calm markets unnerved by banking sector turmoil that has revived memories of the 2008 global financial crisis. After the Federal Reserve on Wednesday delivered a modest 25 basis point rate hike, central banks in Switzerland, Norway …
Central banks stick to rate hikes with eye on market turmoil Read More »
