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Musk’s Starlink gets Chad go-ahead to improve internet access

12 Nov 2024

N’DJAMENA (Reuters) – Chad said on Tuesday it had approved the licensing of Elon Musk’s satellite internet provider Starlink to improve access to internet services in the central African country. Starlink, the satellite unit of SpaceX, operates in several African countries but has faced regulatory challenges in others and resistance from state telecoms monopolies. “We …

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Stocks slip, bitcoin nears $90,000 as ‘Trump trade’ whipsaws markets

12 Nov 2024

By Amanda Cooper LONDON (Reuters) – Global stocks came under pressure on Tuesday from investor concern about U.S. President-elect Donald Trump’s policies, while bitcoin neared a record $90,000 as traders piled into assets they believe could benefit from the new administration. Investors have been funnelling cash into assets they think will get a boost from …

Stocks slip, bitcoin nears $90,000 as ‘Trump trade’ whipsaws markets Read More »

Oil prices steady ahead of OPEC report, China stimulus limit gains

12 Nov 2024

By Emily Chow (Reuters) – Oil prices were little changed on Tuesday, awaiting further price direction from OPEC’s monthly report, while investor disappointment over China’s latest stimulus plan and oversupply concerns limited gains. Brent crude futures rose 38 cents, or 0.5%, to $72.21 a barrel, by 0944 GMT. U.S. West Texas Intermediate crude futures were …

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Dollar roars with bitcoin as Trump trades shine; euro and yuan slump

12 Nov 2024

By Kevin Buckland and Harry Robertson TOKYO/LONDON (Reuters) -The U.S. dollar rose to a four-month peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration. The euro languished at a seven-month trough and the yuan slumped to …

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Nigeria signs $1.2 billion deal to revamp gas plant for aluminium smelter

12 Nov 2024

By Camillus Eboh ABUJA (Reuters) – Nigeria has signed a $1.2 billion contract with Chinese state-owned engineering firm CNCEC to revamp a gas processing plant crucial for the country’s aluminium production, its Petroleum Ministry said. The contract signed between CNCEC and BFI Group – the core investor in the Aluminum Smelter Company of Nigeria – …

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Exclusive-Senegal will have to wait at least until June for IMF loan resolution, source says

12 Nov 2024

By Duncan Miriri and Portia Crowe NAIROBI/DAKAR (Reuters) -Senegal will have to wait until at least June to get any sort of resolution of its lending programme with the International Monetary Fund that could lead to fresh disbursements, a source with knowledge of the process told Reuters. There was no immediate comment from the finance …

Exclusive-Senegal will have to wait at least until June for IMF loan resolution, source says Read More »

S.Africa’s Premier Group reports jump of 32.4% in interim profit

12 Nov 2024

JOHANNESBURG (Reuters) – South African food producer Premier Group posted on Tuesday a rise of 32.4% in half-year profit at the upper end of its forecast range, boosted by cost-saving initiatives in a challenging operating environment. The 200-year-old company which listed last year said its headline earnings per share (HEPS)- a profit measure – grew …

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Trump victory to boost EM equities in Middle East, North African region, J.P.Morgan says

12 Nov 2024

By Siddarth S (Reuters) – Donald Trump’s re-election could boost emerging markets equities in the Middle East and North African (MENA) region because of a potentially stronger dollar, higher U.S. bond yields and global trade policy shifts, J.P.Morgan said on Tuesday. “We prefer dollar-pegged MENA over EM FX dependent non-MENA in CEEMEA (Central and Eastern …

Trump victory to boost EM equities in Middle East, North African region, J.P.Morgan says Read More »

Kenya’s Equity Group reports 9-month pretax profit rises to $397 million

12 Nov 2024

NAIROBI (Reuters) -Kenya’s Equity Group Holdings on Tuesday reported pretax profit of 51.0 billion Kenyan shillings ($397 million) for the first nine months of 2024, up from 45.9 billion shillings in the same period a year earlier. Equity Group is Kenya’s largest lender by customers and also operates in Uganda, Tanzania, Rwanda, Burundi, South Sudan …

Kenya’s Equity Group reports 9-month pretax profit rises to $397 million Read More »

IMF reaches staff agreement with Zambia for $185.5 million disbursement

12 Nov 2024

WASHINGTON (Reuters) – The International Monetary Fund said on Monday that it reached a staff-level agreement for the fourth review of Zambia’s loan program that would release about $185.5 million to Lusaka upon approval by the IMF’s management and its executive board. The agreement was announced after an IMF mission to Zambia from Oct. 2-15, …

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