By Rodrigo Campos LUANDA/NEW YORK (Reuters) -The International Monetary Fund cut Angola’s economic growth forecast for 2025 to 2.1% from the previous 2.4% on the back of lower oil exports, the IMF said on Friday, and warned that risks have risen from last year with regard to the Southern African nation’s capacity to pay its debts. …
IMF cuts Angola economic growth view again, warns about excess debt Read More »
By Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve interest rate cut. Labor Department data showed that nonfarm payrolls increased by only …
Dollar drops against peers after weaker-than-expected jobs report Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices fell on Friday as a weak U.S. jobs report dimmed the outlook for energy demand, while swelling supplies may grow further after OPEC and allied producers meet over the weekend. Brent crude futures settled at $65.50 a barrel, down $1.49, or 2.22%. U.S. West Texas Intermediate crude finished …
Oil prices settle down more than 2% after weak US jobs report Read More »
(Reuters) -ArcelorMittal South Africa meets the criteria for discounted electricity tariffs in terms of set rules, the country’s energy regulator said on Friday, backing a plea by the loss-making steelmaker. The regulator, however, said it did not have the authority to dictate an electricity tariff and ArcelorMittal would have to negotiate favourable terms with state-owned …
S.Africa’s electricity regulator backs ArcelorMittal’s bid for discounted tariffs Read More »
JOHANNESBURG (Reuters) -South African state utility Eskom said on Friday it expects no power cuts over the southern hemisphere summer months, barring a rise in breakdowns at its facilities. Eskom’s difficulties supplying electricity to Africa’s biggest economy have curbed economic growth for more than a decade, but a turnaround in performance at its power plants …
South Africa’s Eskom expects no power cuts over summer Read More »
JOHANNESBURG (Reuters) -South Africa’s rand, stocks and government bonds strengthened on Friday after better-than-expected foreign reserves data, and got a further boost from a weaker dollar knocked by a soft U.S. jobs report. South Africa’s net foreign reserves rose to $65.899 billion at the end of August from $65.143 billion in July. Nedbank economists had …
South African assets soar after foreign reserve data, US jobs report Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) -South African freight rail and ports company Transnet made a smaller loss in the last financial year and said on Friday its turnaround programme was starting to deliver results, although its auditor repeated concerns about its viability. Transnet, one of a handful of South African state companies that have held …
South Africa’s Transnet’s loss shrinks as viability doubts linger Read More »
By Sonia Rolley and Ange Kasongo PARIS/KINSHASA (Reuters) -Returning to land they fled during a violent advance by M23 rebels, some farmers in eastern Congo have had an unwelcome surprise: Their fields of cauliflower and cabbage have been taken over by newcomers, including Rwandans. The resulting tensions could complicate efforts to bring peace and investment …
Land quarrels in rebel-occupied Congo threaten Trump peace deal Read More »
(Reuters) -South Africa’s African Rainbow Minerals has suspended operations at its loss-making Bokoni platinum mine while it works on a revised mining plan for the asset, it said on Friday as it reported a sharp fall in basic annual earnings. ARM booked a 2.2-billion rand ($125 million) impairment at Bokoni, citing a delay in ramping …
S.Africa’s ARM suspends mining operations at Bokoni platinum mine Read More »
NEW DELHI/SINGAPORE (Reuters) -Top Indian refiner Indian Oil Corp skipped the purchase of U.S. oil in its latest tender and instead bought 2 million barrels of West African and a million barrels of Middle Eastern grade, trade sources said on Friday. The state refiner also bought one million barrels each of Nigerian oil grades Agbami …
Indian Oil skips US crude, buys Nigerian, Mideast oil via tender, say sources Read More »
