ABUJA (Reuters) – Nigeria share index fell 2.26% on Tuesday to record its biggest daily drop since December 2017 after heavyweight Dangote Cement declined, Refinitiv data showed. The main index shed 1,138.67 points to 49,351.06 points. Dangote Cement, the biggest listed firm on the exchange, fell 9.0% to lead the bourse lower. (Reporting by Chijioke …
Nigeria index down 2.26% to post biggest fall in over four years Read More »
DUBAI (Reuters) – Abu Dhabi investment firm Chimera Investment LLC said on Tuesday it has acquired a controlling stake in Egypt’s Beltone Financial Holding, part of a strategy to expand in the Middle East and North Africa region. Chimera bought 55.9% of Beltone at 1.485 Egyptian pounds a share, valuing the company at 661.8 million …
Abu Dhabi’s Chimera buys majority of Egypt’s Beltone Financial Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s petroleum regulator said on Tuesday it stood by its refusal to approve Exxon Mobil’s $1.28 billion sale of shares in its Nigerian unit to Seplat after President Muhammadu Buhari approved the transaction. Nigerian Upstream Petroleum Regulatory Commission (NUPRC) head, Gbenga Komolafe, said under a new petroleum law passed …
Exxon Mobil’s Nigeria asset sale hits regulatory hurdle Read More »
ABIDJAN (Reuters) – Cocoa arrivals at ports in top grower Ivory Coast had reached 2.034 million tonnes by August 7 since the start of the season on Oct. 1, down 3.6% from the same period last season, exporters estimated on Tuesday. About 4,000 tonnes of beans were delivered to Abidjan port and 7,000 tonnes to San …
Ivory Coast 2021/22 cocoa arrivals seen at 2.034 million T by August 7 Read More »
JOHANNESBURG (Reuters) -The South African rand gained against the dollar on Monday, erasing Friday’s loss, as the U.S. currency weakened on global markets. Investors are waiting for Wednesday’s U.S. inflation data for more indications about the Federal Reserve’s next policy moves. At 1510 GMT, the rand traded at 16.5900 against the dollar, up around 1.1% …
South African rand erases Friday’s loss; stocks rise Read More »
ABUJA (Reuters) – Nigeria’s President Muhammadu Buhari has granted consent to Seplat’s acquisition of ExxonMobil’s Nigerian unit, the presidency said in a statement on Monday. (Reporting by Felix Onuah; Writing by Chijioke Ohuocha; Editing by Jan Harvey)
NAIROBI (Reuters) – Tanzania will reduce liquidity over the rest of 2022 in order to tackle a surge of inflation, the central bank’s Monetary Policy Committee (MPC) said on Saturday. “The MPC approved the Bank of Tanzania to reduce the speed of expanding liquidity in the remainder of 2022, in order to tame inflationary pressures …
Tanzania to reduce liquidity in H2 in bid to tackle inflation -central bank Read More »
JOHANNESBURG (Reuters) -The South African rand slumped on Friday against a buoyed dollar after U.S. July employment report came in better than expected, raising the prospect for a large interest rate hike by the Federal Reserve at its next meeting to tame soaring inflation. Data showed nonfarm payrolls increased by 528,000 jobs last month, the …
S.African rand slips after dollar jumps on strong U.S. jobs report Read More »
TUNIS (Reuters) – Tunisia’s annual inflation rate rose to 8.2 percent in July, from 8.1 percent in June, the National Statistics Institute said on Friday. The central bank raised its key interest rate by 75 basis points to 7 percent in May from 6.25 percent in order to contain inflation. (Reporting by Tarek Amara; editing …
Inflation in Tunisia edges up to 8.2 pct in July Read More »
(Reuters) – South Africa’s Eskom said it would implement “Stage 2” power cuts between 1600 and 2400 local time (1400 and 2200 GMT) on Saturday and Sunday due to several generating units breaking down and delays returning others to service. The struggling state-owned company resumed power cuts on Wednesday after a pause of 11 days, …
South Africa’s Eskom to implement power cuts over weekend Read More »
