JOHANNESBURG (Reuters) -AVI Ltd posted half-year earnings growth of 0.6% on Monday as the South African food producer and fashion retailer lifted prices to put a lid on rising input costs, but said consumer demand was constrained by the high cost of living. Consumer goods producers globally have lifted prices to cope with surging costs …
South Africa’s AVI profit rises marginally on price hikes Read More »
JOHANNESBURG (Reuters) -South African food producer RCL Foods on Monday dropped interim dividend plans after its half-year earnings slumped 22.4% due to high commodity and energy costs. Consumer goods producers globally have lifted prices to cope with surging costs for almost all raw materials, energy and packaging after Russia’s invasion of Ukraine compounded pandemic-related supply …
S.Africa’s RCL Foods scraps dividend as rising costs dent profit Read More »
By Sabrina Valle HOUSTON(Reuters) – Exxon Mobil Corp hopes to get Nigerian government approval to allow the stalled sale of its shallow water oil production operations in the West African country, a top Exxon executive told Reuters. The largest U.S. oil company will keep its deep-water assets in Nigeria despite a change in the government’s …
Exxon seeks to unblock stalled sale in ‘challenging’ Nigeria – top executive Read More »
CAIRO (Reuters) – Egypt’s net foreign reserves rose slightly to $34.352 billion in February from $34.224 billion in January, the central bank said on Sunday. (Writing by Mahmoud Mourad; Editing by Emelia Sithole-Matarise)
CAIRO (Reuters) – Egypt’s non-oil private sector activity shrank for the 27th month in a row in February as surging inflation and obstacles to importing from abroad extended business travails, a survey showed on Sunday. The S&P Global Egypt Purchasing Managers’ Index (PMI) strengthened to 46.9 in February from 45.5 in January, but was still …
Egypt non-oil activity contracts for 27th month as prices surge Read More »
NAIROBI (Reuters) – Power was restored to parts of Kenya after a nationwide blackout lasting several hours which was thought to have been caused by a fault on a transmission line, electricity distributor Kenya Power said on Saturday. “Initial reports indicate that the outage was caused by a fault that occurred on the Suswa-Loyangalani high-voltage …
Power restored to parts of Kenya after nationwide blackout Read More »
CAIRO (Reuters) – Egypt’s non-oil private sector activity shrank for the 27th month in a row in February as surging inflation and obstacles to importing from abroad extended business travails, a survey showed on Sunday. The S&P Global Egypt Purchasing Managers’ Index (PMI) strengthened to 46.9 in February from 45.5 in January, but was still …
Egypt non-oil activity contracts for 27th month as prices surge Read More »
TUNIS (Reuters) – The International Islamic Trade Finance Corporation lent Tunisia $280 million to finance energy imports, the economy ministry said on Friday. Tunisia, suffering a financial crisis, has struggled to provide basic commodities such as energy and food amid a growing social and political crisis in the country. (Reporting by Tarek Amara; Editing by …
International Islamic Trade Finance Corporation lends Tunisia $280 million Read More »
(Reuters) – A panel of investors on Friday determined that a credit event had occurred with respect to Ghana, triggering payments of default insurance known as credit default swaps. “Based on public information, the (Europe, Middle East and Africa Derivatives Committee) determined that (Ghana) had failed to make payments within the applicable grace period,” the …
CAIRO (Reuters) – Egypt’s economy has come under severe pressure over the past year, with the Egyptian pound tumbling, foreign currency drying up, and inflation soaring. WHAT CAUSED EGYPT’S ECONOMIC WOES? Some of the causes date back decades, such as failed industrial development and export policies that created a persistent trade deficit. An over-valued currency, …
