By Mark John (Reuters) – Ridiculed for imposing trade tariffs on frozen islands largely inhabited by penguins, Donald Trump’s formula for calculating those levies has a serious side: it is also hitting some of the world’s poorest nations hardest. The math is simple: take the U.S. goods trade deficit with a country, divide it by …
Trump’s tariff formula confounds the world, punishes the poor Read More »
NAIROBI (Reuters) – Kenya’s shilling was unchanged against the dollar on Friday, data from the London Stock Exchange Group showed. At 0719 GMT, the shilling traded at 129.00/50 per dollar, the same as Thursday’s close. (Reporting by George Obulutsa; Editing by Alexander Winning)
NAIROBI (Reuters) – Kenya’s private sector activity expanded at its fastest pace in 10 months in March, helped by improved performance in most sectors apart from manufacturing, which experienced a contraction, a survey showed on Friday. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) jumped to 51.7 in March – the highest reading since last …
Kenya private sector activity expands in March, PMI shows Read More »
By Mohi Narayan NEW DELHI (Reuters) – Sweeping new U.S. import tariffs threaten to further erode demand for global petrochemical producers and accelerate capacity cuts in an industry plagued by weak margins, industry officials and analysts said. Tariffs announced by President Donald Trump on Wednesday are expected to drive up prices for goods such as …
Trump tariffs poised to exacerbate woes of ailing petchems sector Read More »
By Ange Kasongo (Reuters) – The United States is in talks to invest billions of dollars in mineral-rich Congo and wants to help end a conflict raging in the country’s east, President Donald Trump’s senior adviser for Africa said during a visit on Thursday. Democratic Republic of Congo, which has vast reserves of cobalt, lithium …
After tariffs, US dangles billions of dollars in Congo mineral investment Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices swooned on Thursday to settle with their steepest percentage loss since 2022, after OPEC+ agreed to a surprise increase in output the day after U.S. President Donald Trump announced sweeping new import tariffs Brent futures settled at $70.14 a barrel, down $4.81, or 6.42%. U.S. West Texas Intermediate …
Oil dives more than 6%, steepest fall in 3 years on tariffs, OPEC+ supply boost Read More »
By Bhargav Acharya and Sfundo Parakozov JOHANNESBURG (Reuters) -South African assets remained under pressure on Thursday after being hit by a double-whammy of U.S. President Donald Trump’s announcement of new and higher tariffs and a contentious budget vote that has threatened the ruling coalition’s future. The risk-sensitive rand traded at 18.76 against the dollar by …
South African markets hit by double whammy of tariffs and shaky coalition Read More »
By Nqobile Dludla and Nellie Peyton JOHANNESBURG (Reuters) – President Donald Trump has moved to impose sweeping tariffs on most goods imported to the United States, including from African countries that benefit from a U.S. flagship trade programme for the continent. Analysts say the new tariffs suggest that the renewal of the initiative, known as …
Factbox-The US-Africa trade programme under threat from Trump tariffs Read More »
By Colleen Goko LONDON (Reuters) -The World Bank’s private investment arm is backing the rush into digital data in Africa with a $100 million investment in regional data centre developer and operator Raxio Group, funding centres from Ethiopia to Angola. Digital demand on the continent is surging, but infrastructure remains scarce. Africa accounts for less …
World Bank backs Africa digital data push with $100 million Raxio deal Read More »
JOHANNESBURG (Reuters) – South Africa’s pro-business Democratic Alliance party filed a court case challenging the legality of the budget process on Thursday and sought to block the implementation of a value-added tax increase, widening a rift in the fragile ruling coalition. South Africa’s National Assembly narrowly passed the budget’s fiscal framework and revenue proposals on …
South Africa’s DA challenges legality of budget process in court Read More »
