MILAN (Reuters) – Carmaker Stellantis said on Thursday it had signed a framework agreement with Algeria to develop activities of its Fiat brand in the county, including for local production of vehicles. The deal covers a project for the development in Algeria of industrial, after-sales and spare parts activities for Fiat, as well as the …
Stellantis signs framework deal for Fiat vehicle production in Algeria Read More »
JOHANNESBURG (Reuters) -South Africa’s rand hit a 29-month low on Thursday after data showed U.S. consumer prices came in higher than expected, raising further bets of the Federal Reserve delivering another large rate hike next month. At 1625 GMT, the rand traded at 18.2850 against the dollar, not far from its last close as it …
S.African rand hits 29-month low after hot U.S. consumer inflation Read More »
WASHINGTON (Reuters) – The United States is sending $60 million in “rapid assistance” to help struggling Tunisian families amid ongoing economic shocks that have plagued the North African nation and been exacerbated by the war in Ukraine. The grant from the U.S. Agency for International Development (USAID) will help UNICEF deliver direct support to vulnerable …
U.S. scrambles $60mln to aid struggling families in Tunisia Read More »
By Rachel Savage JOHANNESBURG (Reuters) – A growing number of African countries has introduced financial market policies related to environmental, social or governance issues, a study said on Thursday, as a global push to invest more sustainably gathers pace. Seventeen countries on the continent now have some sustainability-focused policies, out of 26 surveyed by think-tank …
More African countries implementing ESG finance policies – study Read More »
JOHANNESBURG (Reuters) -South Africa’s central bank governor, Lesetja Kganyago, told television channel CNBC that inflation could have peaked in the third quarter but the bank wanted to see inflation decline firmly within its 3%-6% target range. “We would still want to see it (inflation) decline firmly within the target and closer to the midpoint of …
S.Africa central bank wants to see inflation decline firmly within target Read More »
NAIROBI (Reuters) -Britain’s GSK will close its commercial operations in Kenya next year as it moves to a third-party distribution model for its medicines and vaccines, the firm said on Thursday. The pharmaceutical major’s decision will not affect its consumer healthcare business Haleon, which produces brands like Panadol and Sensodyne in Nairobi, it said. The …
GSK to switch to third-party distribution of medicines in Kenya Read More »
By Nelson Banya (Reuters) -South African miners are losing 815 million rand ($44 million) in export revenue per day due to an ongoing strike at state-owned logistics firm Transnet which has hit commodity exports, an industry body said on Thursday. Transnet’s freight rail and port workers earlier said they had rejected a revised pay offer …
Transnet strike costs South African miners $44 million a day – industry body Read More »
KINSHASA (Reuters) – The Democratic Republic of Congo has received bids from nine qualifying companies for three gas blocks on Lake Kivu which it put up for auction on July 28, the hydrocarbons ministry said on Wednesday. The bids were all from privately held U.S. and Congolese companies including Winds Exploration and Production, and Symbion …
Congo unveils bids from nine companies for Lake Kivu gas blocks Read More »
(Reuters) – South Africa’s Tharisa Plc plans to spend $391 million on developing a 194,000 ounce per year platinum group metal (PGM) mine in Zimbabwe, chief executive Phoevos Pouroulis said on Wednesday. Tharisa, a co-producer of chrome concentrates and PGMs in South Africa, owns 70% of Karo Mining Holdings, developer of the Karo PGM project …
Tharisa begins $391 million Zimbabwe platinum mine build Read More »
By Jorgelina do Rosario and Rachel Savage WASHINGTON/JOHANNESBURG (Reuters) – Angola will keep cutting interest rates as long as inflation is kept low, central bank governor Jose De Lima Massano said on Wednesday, forecasting that inflation will fall to 16% this year and 9-10% by the end of 2023. “Today we have interest rates in …
Angola will cut interest rates as long as inflation is low, says central bank governor Read More »
