Reuters Africa Business Archives - Page 695 of 921

S.Africa’s Exxaro Resources annual profit surges on hot coal prices

16 Mar 2023 16 Mar 2023

(Reuters) – South Africa’s Exxaro Resources reported on Thursday a 28% jump in its annual profit, supported by higher coal prices, and also declared a lower dividend payout as the miner still faces rail logistics problems. The diversified mining and energy company’s headline earnings per share – the main profit measure in South Africa – came in at 60.16 rand …

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Hutchison Ports to invest $700 million in two Egyptian ports

16 Mar 2023 16 Mar 2023

(Reuters) – CK Hutchison Holdings Ltd’s port unit said on Thursday it would invest about $700 million in two major Egyptian ports, bringing its total investment in the country to more than $1.5 billion. Hutchison Ports said it would invest in the development of a new container terminal in the Red Sea port of Ain …

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Global sell-off resumes after Credit Suisse renews worries; gold rallies

15 Mar 2023 15 Mar 2023

By Chris Prentice and Dhara Ranasinghe NEW YORK/LONDON (Reuters) – Renewed unease gripped world markets on Wednesday as news that Credit Suisse’s largest investor said it could not provide the Swiss bank with more financial assistance sent its shares and broader global equities sliding. U.S. inflation data showed signs of economic weakness and cooling inflation. …

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Dollar gains in safe-haven buying as Credit Suisse sparks wider banking fears

15 Mar 2023 15 Mar 2023

By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) -The dollar rose on Wednesday on safe-haven buying after Credit Suisse’s stock tumbled following the disclosure of “weaknesses” in its financial reporting that renewed investor concerns that a full-blown global banking crisis may be brewing. European currencies fell sharply against the dollar, with Credit Suisse shares …

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Exclusive-Tons of uranium missing from Libyan site, IAEA tells member states

15 Mar 2023 15 Mar 2023

By Francois Murphy VIENNA (Reuters) -U.N. nuclear watchdog inspectors have found that roughly 2.5 tons of natural uranium have gone missing from a Libyan site that is not under government control, the watchdog told member states in a statement on Wednesday seen by Reuters. The finding is the result of an inspection originally planned for …

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Oil slumps $5/bbl to lowest in more than a year as banking fears mount

15 Mar 2023 15 Mar 2023

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices plunged more than $5 a barrel on Wednesday to their lowest in more than a year as unease over Credit Suisse spooked world markets and offset hopes of a Chinese oil demand recovery. Early signs of a return to market stability faded after Credit Suisse’s largest investor said …

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South African shares, rand pummeled as banking crisis spreads

15 Mar 2023 15 Mar 2023

JOHANNESBURG (Reuters) -South African shares and the rand plummeted on Wednesday as the U.S. banking crisis spread to Europe and continued to wreak havoc on global markets. The country’s blue-chip Top 40 and its broader all-share indexes fell around 3% to the lowest they have been this year. “My big fear is that it leads …

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Kenyan lender KCB Group’s post-tax profit jumps 19.5% in 2022

15 Mar 2023 15 Mar 2023

NAIROBI (Reuters) – Kenyan lender KCB Group on Wednesday posted a 19.5% rise in 2022 after-tax profit to 40.8 billion shillings ($314.57 million), driven by a similar revenue increase. The bank, which also operates in neighboring Tanzania, Uganda, Rwanda, Burundi and South Sudan, said income from transactions surged 39.8%, driven by trade finance and other …

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Kenyan lender KCB Group’s post-tax profit jumps 19.5% in 2022

15 Mar 2023 15 Mar 2023

NAIROBI (Reuters) – Kenyan lender KCB Group posted a 19.5% rise in its profit after tax for last year, it said on Wednesday, driven by a similar increase in its total revenue. The bank, which also operates in neighboring markets Tanzania, Uganda, Rwanda, Burundi and South Sudan, said its income from transactions surged 39.8%, driven …

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South Africa’s Growthpoint to double solar power generation by mid-year

15 Mar 2023 15 Mar 2023

JOHANNESBURG (Reuters) -Growthpoint Properties, South Africa’s largest-listed property group, is looking to expand its solar power capacity to cope with rising energy costs as rolling blackouts continue unabated. State electricity utility Eskom is implementing the worst rolling blackouts on record, leaving households in the dark for up to 10 hours a day. The outages have …

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