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Moroccan rail operator seeks $8.8 billion funding for expansion plan

7 Dec 2024

By Ahmed Eljechtimi RABAT (Reuters) – Morocco’s state-owned rail operator, ONCF, is seeking $8.8 billion from investors to finance its expansion plan, the head of the African Development Bank (AfDB), Akinwumi Adesina, has said. He told reporters late on Friday after a three-day Africa Investment Forum in Rabat that investors were ready to extend ONCF …

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Exclusive-Egyptian military agency takes over wheat buying from decades-old supply group

6 Dec 2024

By Mohamed Ezz CAIRO (Reuters) – An Egyptian military agency has taken over the country’s import of strategic commodities, a letter seen by Reuters showed, replacing a decades-old state institution to take over international buying tenders and also conduct direct purchases which have in recent weeks shaken the wheat market. As one of the world’s …

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African Development Bank pledges $1 billion to Morocco

6 Dec 2024

By Ahmed Eljechtimi RABAT (Reuters) – The African Development Bank (AfDB) signed a deal on Thursday to lend 350 million euros ($370 mln) to Morocco and is considering loaning the country another 650 million euros to finance infrastructure for the 2030 World Cup. The agreed loan would help Morocco boost economic governance, strengthen water supplies …

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Ugandan shilling little changed, bias on weaker side

6 Dec 2024

KAMPALA (Reuters) – The Ugandan shilling was little changed on Friday, with a slight bias towards weakening because of hard-currency appetite from commercial banks, traders said. At 0740 GMT commercial banks quoted the shilling at 3,665/3,675 to the dollar, compared to Thursday’s closing level of 3,663/3,673. (Reporting by Elias Biryabarema; Editing by Alexander Winning)

Kenyan shilling stable on FX inflows from tourism, tea exports

6 Dec 2024

NAIROBI (Reuters) – The Kenyan shilling was stable on Friday on dollar inflows from the tourism sector and tea exports, one trader said. The shilling traded at 129.00/129.50 per dollar at 0656 GMT, the same as Thursday’s closing rate. “The shilling is gaining strength against the dollar,” the trader said. “There’s more supply than demand.” …

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Bitcoin storms above $100,000 as Trump 2.0 fuels crypto euphoria

5 Dec 2024

(Reuters) -Bitcoin catapulted above $100,000 for the first time on Thursday, a milestone hailed even by sceptics as a coming-of-age for digital assets as investors bet on a friendly U.S. administration to cement the place of cryptocurrencies in financial markets. Once it broke $100,000 in Thursday’s Asian morning, boosted by U.S. President-elect Trump’s nomination of …

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Euro rebounds as French bonds stabilize; bitcoin jumps past $100,000

5 Dec 2024

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The euro rallied on Thursday as French government bonds steadied a day after the collapse of France’s government, even as bitcoin soared to a record past $100,000, with investors cheering the nomination of a pro-cryptocurrency head to run the U.S. Securities and Exchange Commission. The spread between French and …

Euro rebounds as French bonds stabilize; bitcoin jumps past $100,000 Read More »

Wall Street stocks, bitcoin take breath from record highs ahead of US jobs data

5 Dec 2024

By Lawrence Delevingne, Dhara Ranasinghe BOSTON/LONDON (Reuters) -Bitcoin traded near $100,000 on Thursday as investors bet on a friendly U.S. regulatory shift, while world stocks pulled back slightly but held near record highs ahead of a key U.S. jobs report.  France’s government lost a confidence vote late on Wednesday for the first time since 1962, …

Wall Street stocks, bitcoin take breath from record highs ahead of US jobs data Read More »

Oil falls as investors weigh ample 2025 supply outlook, delayed OPEC+ output hike

5 Dec 2024

By Georgina McCartney HOUSTON (Reuters) -Oil prices fell on Thursday as investors weighed an ample supply outlook for next year against OPEC+ delaying its planned output increase by three months to April 2025. Brent crude settled down 22 cents, or 0.3%, at $72.09 a barrel, while U.S. West Texas Intermediate (WTI) settled down 24 cents, …

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