Reuters Africa Business Archives - Page 703 of 921

Mozambique ordered to open files in Credit Suisse, Privinvest ‘tuna bond’ case

3 Mar 2023 3 Mar 2023

By Kirstin Ridley and Rachel Savage LONDON (Reuters) – A London judge ordered Mozambique on Friday to allow access to documents held in state offices or risk derailing a blockbuster London lawsuit against Credit Suisse, shipbuilder Privinvest and others over the $2 billion “tuna bond” case. The tuna bond or “hidden debt” scandal, one of …

Mozambique ordered to open files in Credit Suisse, Privinvest ‘tuna bond’ case Read More »

South African rand firms with strong Chinese data, higher PMI

3 Mar 2023 3 Mar 2023

JOHANNESBURG (Reuters) -South Africa’s rand firmed on Friday, helped by strong Chinese data and a positive PMI return that showed South Africa’s private sector activity recovering from a downturn. At 15:14 GMT, the rand traded at 18.1425 against the dollar, about 0.4% stronger than its previous close. The dollar was down about 0.1% against a …

South African rand firms with strong Chinese data, higher PMI Read More »

Zimbabwe adopts new inflation rate based on U.S. dollar, local currency

3 Mar 2023 3 Mar 2023

HARARE (Reuters) – Zimbabwe will from now on measure inflation using a weighted average of items priced in Zimbabwean dollars and U.S. dollars, the government said on Friday. Previously the official rate was based only on items in the local currency. The U.S. dollar is widely used in the southern African country alongside the Zimbabwean …

Zimbabwe adopts new inflation rate based on U.S. dollar, local currency Read More »

Zimbabwe adopts new inflation rate based on U.S. dollar, local currency

3 Mar 2023 3 Mar 2023

Zimbabwe adopts new inflation rate based on U.S. dollar, local currency Read More »

Tunisia imports record Russian gasoil as other buyers disappear

3 Mar 2023 3 Mar 2023

By Ahmad Ghaddar and Rowena Edwards LONDON (Reuters) – Tunisia imported record volumes of Russian gasoil and diesel last month as an EU embargo forced Moscow to find new customers for its oil products, according to traders and tracking data. Tunisia imported nearly 77,000 barrels per day (bpd) of Russian gasoil and diesel in February, …

Tunisia imports record Russian gasoil as other buyers disappear Read More »

South African retailer Pepkor raises $66 million in bond market

3 Mar 2023 3 Mar 2023

JOHANNESBURG (Reuters) – Pepkor Holdings raised 1.2 billion rand ($66.14 million) in the South African bond market this week, the owner of South African clothing brands PEP and Ackermans said on Friday. The company said in a statement that the bonds were 3.5 times oversubscribed at auction. “Proceeds from the issuance will be used to …

South African retailer Pepkor raises $66 million in bond market Read More »

Kenya to hold next rate-setting meeting on March 29- cenbank

3 Mar 2023 3 Mar 2023

NAIROBI (Reuters) – The Kenyan central bank’s Monetary Policy Committee will hold its next rate-setting meeting on March 29, the bank said on Friday. At its last meeting in January, the central bank held its benchmark lending rate steady at 8.75%, saying its previous hike in November was still working its way through the economy. …

Kenya to hold next rate-setting meeting on March 29- cenbank Read More »

Kenya private sector falters in February on currency, tax woes – PMI

3 Mar 2023 3 Mar 2023

NAIROBI (Reuters) – Kenya’s private sector activity contracted in February, weighed down by a steep weakening of the shilling, inflationary pressure on consumer spending and growing tax burdens for firms, a survey showed on Friday. The S&P Global Kenya Purchasing Managers’ Index (PMI) fell for the first time since October to 46.6 in February from …

Kenya private sector falters in February on currency, tax woes – PMI Read More »

South African business activity stabilises in February – PMI

3 Mar 2023 3 Mar 2023

JOHANNESBURG (Reuters) – South African private sector activity stabilised in February after a sharp drop the previous month, a survey showed on Friday. The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 50.5 in February from 48.7 in January. A reading above 50 reflects growth. “The latest South Africa PMI helped to allay …

South African business activity stabilises in February – PMI Read More »

Big Oil to take centerstage at Houston meet as markets, alliances shift

3 Mar 2023 3 Mar 2023

By Liz Hampton HOUSTON (Reuters) -Top energy executives and officials from around the world will descend on Houston next week just as the political fallout from Russia’s invasion of Ukraine a year ago continues to distort global oil supply lines and put long-term energy security front of mind for governments. Oil company chiefs and ministers …

Big Oil to take centerstage at Houston meet as markets, alliances shift Read More »