-Italian energy group Eni has completed the sale of a 30% stake sale in the Ivory Coast’s Baleine offshore project to global commodity trader Vitol, it said in a statement on Thursday. The Baleine project is now owned by Eni with 47.25%, Vitol with 30%, and Petroci with 22.75%, and is the country’s main offshore development. …
Eni sells 30% stake in Ivory Coast’s Baleine project to Vitol Read More »
MASERU (Reuters) -Lesotho’s trade minister said on Wednesday that the U.S. plans to extend the African Growth and Opportunity Act (AGOA), which gives the continent preferential access to U.S. markets, by a year, after returning from a visit to Washington. A slew of tariffs that U.S. President Donald Trump imposed on global trading partners on …
US plans to extend Africa trade deal by a year, says Lesotho minister Read More »
By Doyinsola Oladipo NEW YORK (Reuters) -Kenya’s President William Ruto said on Wednesday his country expects to sign a trade deal with the United States by year-end and that he will be pushing Washington to extend its duty-free agreement with Africa for at least five years. Ruto will be meeting with U.S. Secretary of State …
Kenya eyes US trade deal by end of year, seeks five-year extension to Africa pact Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% to a seven-week high on Wednesday as a surprise drop in U.S. weekly crude inventories added to a sense in the market of tightening supplies amid export issues in Iraq, Venezuela and Russia. Brent futures rose $1.68, or 2.5%, to settle at $69.31 a barrel, …
Oil prices surge 3% to 7-week high as surprise US stockpile draw adds to supply worries Read More »
By Marcelo Teixeira NEW YORK (Reuters) -Democratic Republic of Congo will stick to its recently announced quota system for cobalt exports, with revisions only possible in the long term if the government sees them as necessary, the country’s mining minister said on Wednesday. The mining minister, Louis Watum Kabamba, told Reuters in an interview on …
Congo sticking to cobalt export quotas, keen to boost processing Read More »
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s overnight lending rate fell by 100 basis points to 25.5% on Wednesday, traders said, after the central bank adjusted the interest rate corridor used by commercial lenders to deposit and borrow funds. The Central Bank of Nigeria (CBN) on Tuesday cut its benchmark interest rate by 50 basis points …
Nigeria’s overnight lending rate falls 100 bps on excess liquidity, policy shift Read More »
(Reuters) -Angola’s state diamond company Endiama has bid for a minority stake in Anglo American’s diamond unit De Beers, the African country’s Ministry of Mineral Resources, Petroleum and Gas said on Wednesday. De Beers is one of the world’s leading diamond companies, with operations spanning across Botswana, Namibia, Angola, South Africa and Canada. The diamond …
Angola’s diamond miner Endiama seeks minority stake in De Beers Read More »
(Reuters) -International Monetary Fund staff will visit Kenya from September 25 to October 9 to begin talks with the government on a possible IMF-backed programme, the Fund said on Wednesday. The East African nation’s $3.6 billion programme with the IMF expired in April and officials, including the governor of the central bank Kamau Thugge, have …
IMF staff to visit Kenya for talks on potential support programme Read More »
By Ashwin Manikandan MUMBAI (Reuters) -India’s Export-Import (EXIM) Bank is increasing credit support to exporters and helping them diversify into newer markets, particularly Africa, following punitive U.S. tariffs on imports from the South Asian nation, a top official said. State-owned EXIM Bank – which provides export financing and backs loans granted by commercial lenders to …
India’s EXIM Bank boosts credit to exporters hit by US tariffs, eyes Africa expansion Read More »
By Doyinsola Oladipo NEW YORK (Reuters) -South African President Cyril Ramaphosa said on Tuesday his country is in talks with a U.S. trade representative to reduce tariffs levied by U.S. President Donald Trump after telling world leaders that “trade is now being used as a weapon.” The U.S. is South Africa’s second-biggest trading partner. Trump …
South Africa’s president says trade is being used as a ‘weapon’ Read More »
