MILAN/MOSCOW (Reuters) -A joint bid between Lukoil and Eni for the rights to two of Congo’s offshore energy blocks has moved forward, but has not yet completed, Interfax reported on Friday, citing a Lukoil executive and correcting previous agency reports that the contract had already been awarded. Lukoil said the Congo government had accepted an …
Lukoil-Eni Congo license bid moves forward, not yet awarded Read More »
By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) -The dollar fell on Friday as further declines in the shares of Credit Suisse and First Republic Bank rattled markets fearful of contagion and increased concerns that a recession lies ahead because of the impact of tighter monetary policy. An early recovery in European stocks ran …
(This March 14 story has been corrected officially to change the total size of the fund to $618 million, not $672 million, and say Digital and Creative Enterprises (iDICE), not Digital and Creative Ent) LAGOS (Reuters) – Nigeria launched a $618 million fund on Tuesday to support tech and creative sectors for young investors who …
Nigeria launches $618 million tech fund for young investors Read More »
JOHANNESBURG (Reuters) -The South African rand was flat on Friday after a volatile week fuelled by fears of a global banking crisis and the implications for monetary policy. At 1625 GMT, the rand traded at 18.4225 versus the dollar, 0.1% stronger than its closing level on Thursday. Investor sentiment remained fragile after turbulence sparked by …
South Africa’s rand flat at end of volatile week Read More »
By Pete Schroeder, Chris Prentice and Nupur Anand (Reuters) – Large U.S. banks injected $30 billion in deposits into First Republic Bank on Thursday, swooping in to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-size U.S. lenders over the past week. Banking stocks globally have been …
Major US banks inject $30 billion to rescue First Republic Bank Read More »
By Shariq Khan BENGALURU (Reuters) -Oil prices settled 1% higher on Thursday, ending a three-session losing streak, after reports that Saudi Arabia and Russia met to discuss ways to enhance market stability. Brent crude futures rose $1.37, or 1%, to settle at $74.70 a barrel, while the West Texas Intermediate crude futures (WTI) gained 74 …
Oil snaps declining streak as Saudi, Russia meeting calms markets Read More »
JOHANNESBURG (Reuters) -The South African rand was flat on Thursday, after plummeting a day earlier when a U.S. banking crisis spread to Europe and led to a sharp deterioration in global risk appetite. At 1542 GMT, the rand traded at 18.4150 against the dollar, 0.01% weaker than its previous close. The South African currency dropped …
South African rand, stocks muted after sharp fall Read More »
(Reuters) -Gold Fields and AngloGold Ashanti have agreed to merge their neighbouring Tarkwa and Iduapriem mines in Ghana to create Africa’s biggest gold mine, the two companies said on Thursday. Their move shows how gold miners are looking to consolidate as companies seek to replace depleting reserves and contain cost pressures. Last month, U.S.-based Newmont …
Gold Fields, AngloGold Ghana team up to create Africa’s biggest gold mine Read More »
JOHANNESBURG (Reuters) – South African food producer Libstar on Thursday reported an 11.8% fall in full-year earnings as price rises failed to offset higher costs. Consumer goods producers have lifted prices to cope with surging costs for raw materials, energy and packaging after Russia’s invasion of Ukraine compounded pandemic-related supply chain logjams. But they face …
South African food producer Libstar’s annual earnings fall Read More »
JOHANNESBURG (Reuters) – South Africa’s rain, which provides data-only services, plans to soon launch a mobile service, African Rainbow Capital Investments said on Thursday, enabling it to compete with the country’s three other players in voice calls too. ARC Investments, which holds a 20.3% interest in rain, said the provider will use the newly acquired …
South Africa’s data provider rain to launch mobile service Read More »
