CAIRO (Reuters) -Egypt’s annual urban consumer inflation quickened to a faster-than-expected 13.1% year on year in April, data from state statistics agency CAPMAS showed on Tuesday. The inflation figure, up from 10.5% in March, exceeded a median forecast of 11.8% in a Reuters poll of 17 analysts. [EGCPY=ECI] The accelerating inflation will add pressure on …
Egypt’s April inflation jumps to 13.1%, signals rate hike Read More »
(Reuters) – South Africa’s government is still analysing details of a $8.5 billion financing package offered by rich Western nations last year to help the country shift away from coal, environment minister Barbara Creecy said on Tuesday. The United States, Britain, France, Germany and the European Union pledged the funding during the COP26 climate conference …
S.Africa says still interrogating $8.5 billion climate deal with rich nations Read More »
NAIROBI (Reuters) – Mauritius economy is expected to grow 6.1% this year from a 4% expansion last year, the International Monetary Fund said on Tuesday. “The war in Ukraine has weighed on growth projections due to lower growth in trading partners, less optimistic prospects for global tourist flows, and worsening terms of trade,” the fund …
Mauritius GDP to grow 6.1% in 2022 vs 4% in 2021 – IMF Read More »
By Miguel Gomes LUANDA (Reuters) – Next month’s debut initial public offering (IPO) on Angola’s BODIVA stock exchange is expected to unlock a wave of new listings, its chief executive said, as the Southern African oil producer forges ahead with a far-reaching privatisation drive. BODIVA will begin accepting bids next week for 1.945 million shares …
Angola’s first IPO to spur wave of listings – stock exchange CEO Read More »
NAIROBI (Reuters) – Tanzania is in the final stages of securing loans from the World Bank and International Monetary Fund to help cushion the rising cost of living, the energy minister said on Tuesday, while announcing a $43 million fuel subsidy that will launch in June. (Reporting by Nuzulack Dausen; Writing by Hereward Holland; Editing …
Tanzania says seeking World Bank, IMF loans to combat rising cost of living Read More »
By Ange Aboa ABIDJAN (Reuters) – A group of European Union parliamentarians has asked the European Commission to open negotiations with Ivory Coast and Ghana to address low cocoa prices, it said in a letter. The two West African countries, which together produce more than 60% of the world’s cocoa, called on the EU earlier …
EU lawmakers call for pact on cocoa prices with Ivory Coast and Ghana Read More »
(Reuters) – South African state power utility Eskom said on Tuesday that it would implement rotational power cuts from 1700 to 2200 local time (1500 GMT to 2000 GMT), due to persisting supply constraints. Should any breakdowns occur during the day, there could be a possibility of higher stages of power cuts, Eskom said. (Reporting …
South Africa’s Eskom to implement ‘Stage 2’ power cuts on Tuesday Read More »
CAPE TOWN (Reuters) – South Africa’s metal-workers’ union said it will launch a wage-related strike on Wednesday at ArcelorMittal South Africa Ltd after talks with the management over salary hikes hit a deadlock. The National Union of Metalworkers of South Africa (NUMSA) said on Monday it had provided a 48-hour strike notice, in line with …
S.African labour union to strike at ArcelorMittal over wages Read More »
By Promit Mukherjee and Helen Reid CAPE TOWN (Reuters) – Surging inflation is eating into gold miner Gold Fields’ contingency cost buffer for its Salares Norte project in Chile, Chief Executive Officer Chris Griffith said on Monday, adding that the South Africa-listed company is seeing at least 10% inflation in the regions where it operates. …
Inflation eating into Gold Fields’ Chile project, CEO says Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) – State-owned operator Ethio Telecom launched a 5G mobile phone service on Monday in a key step ahead of competition from new entrants in an industry that has been closed for international players. Next-generation 5G networks can provide data speeds at least 20 times faster than 4G and are seen …
Ethiopia’s state telecom launches 5G services in capital Read More »
