PARIS (Reuters) -French oil major TotalEnergies has been awarded an exploration permit for the Nzombo area off the coast of the Republic of Congo, close to its already operational Moho facilities, it said on Monday. TotalEnergies said it will operate the asset with a 50% stake, while QatarEnergy will hold a 35% interest and Congo’s …
TotalEnergies wins new offshore exploration permit in Congo Republic Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s Blue Label said on Monday that it plans a group restructuring to facilitate the unbundling and potential listing of mobile operator Cell C. Blue Label, whose main business is distributing prepaid airtime and electricity, said it has been considering various strategic options and initiatives to unlock and deliver …
JOHANNESBURG (Reuters) -South African manufacturing sentiment deteriorated in August after a short-lived improvement in July, as activity remained subdued and both domestic and export demand were sluggish, a purchasing managers’ index (PMI) survey showed on Monday. The seasonally-adjusted PMI sponsored by South African bank Absa fell to 49.5 points in August from 50.8 in July. …
South African factory mood sours in August, Absa PMI shows Read More »
JOHANNESBURG (Reuters) -South Africa’s finance ministry and central bank said in a joint statement on Monday that technical work on whether to change the country’s inflation target was drawing to a close. The inflation target range is currently 3% to 6%, but central governor Lesetja Kganyago has long advocated for a lower band, arguing it …
South Africa says technical work on changing inflation target draws to a close Read More »
CAIRO (Reuters) -Egypt’s real gross domestic product grew by 4.5% in the 2024-25 financial year, up from 2.4% the previous year, Finance Minister Ahmed Kouchouk said on Saturday, boosted by reforms tied to IMF financing and increased manufacturing activity. The Arab world’s most populous country has come under economic pressure from a currency devaluation in …
Egypt’s GDP grows 4.5% in 2024-25, boosted by reforms and manufacturing Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes fell on Friday, with technology shares including Dell Technologies leading declines, while the dollar weakened against the euro after U.S. inflation data kept alive expectations of a September interest rate cut. Dell dropped 8.9% after it reported results late Thursday that included high manufacturing costs for …
Stocks decline with tech shares; dollar weakens as Fed rate cut in view Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices fell on Friday as traders looked toward weaker demand in the U.S., the world’s largest oil market, and a boost in supply this autumn from OPEC and its allies. Brent crude futures for October delivery, which expired on Friday, settled at $68.12 a barrel, down 50 cents, or …
Oil prices fall with expected low demand, upcoming supply boost Read More »
By Laura Matthews NEW YORK (Reuters) -The dollar weakened against the euro and Swiss franc on Friday, on course for a 2% decline in August against a basket of currencies, as traders prepared for a U.S. interest rate cut by the Federal Reserve next month. The dollar, which initially firmed after U.S. inflation data came …
Dollar trades lower with Fed cut in view, on course for monthly drop Read More »
PORT LOUIS (Reuters) -A deputy governor of Mauritius’ central bank, Gerard Sanspeur, said on Friday he had resigned from his post after clashing with the son of the bank’s governor, whom he accused of trying to meddle in the running of the institution. Mauritian newspaper L’Express reported earlier on Friday that Prime Minister Navinchandra Ramgoolam …
NAIROBI (Reuters) -Kenya’s inflation rose to 4.5% year-on-year in August from 4.1% the previous month, largely driven by higher prices of food and transport, the statistics office said on Friday. Monthly inflation was at 0.3% in August, compared with 0.1% a month earlier, the Kenya National Bureau of Statistics said in a statement. The central …
Kenya’s inflation rises in August, driven by food, transport prices Read More »
