CAIRO (Reuters) – Egypt’s President Abdel Fattah al-Sisi said on Monday that the monthly losses of the Suez Canal revenues reached around $800 million due to the regional “situation”, as Yemen’s Houthis have been attacking vessels in the Red Sea. The Iran-backed Houthis have attacked vessels in the Red Sea area since November 2023 in …
Egypt Suez Canal monthly revenue losses at around $800 million, Sisi says Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose slightly on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping, while Chinese economic data buoyed hopes for higher demand. U.S. President Donald Trump said on Monday he would hold Iran responsible for any attacks carried …
Oil prices tick up on US attack on Houthis, China economic hopes Read More »
By Elisha Bala-Gbogbo ABUJA (Reuters) – Nigeria’s annual headline inflation eased to 23.18% in February, the country’s statistics agency said on Monday, a month after it rebased its Consumer Price Index to reflect changes in consumption patterns. The National Bureau of Statistics said the headline inflation rate had dropped from 31.7% a year earlier and …
Nigeria inflation eases for second month after data overhaul Read More »
JOHANNESBURG (Reuters) – The rand firmed on Monday against a weaker dollar, as market participants appeared to shrug off the United States’ decision late last week to expel South Africa’s ambassador in yet another sign of the two countries’ rapidly souring relations. At 1501 GMT, the rand traded at 18.11 against the dollar, about 0.4% …
South African rand gains even as ties with US plumb new lows Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -The CEO of MTN Group said the worst should be over for the company as its Nigeria unit recovers, after a naira devaluation pushed the group to an annual pre-tax loss of 4.4 billion rand ($243 million). Nigeria has suffered chronic dollar shortages that have forced authorities to devalue the …
Telecom group MTN points to recovery after naira devaluation drives losses Read More »
KAMPALA (Reuters) – The Ugandan shilling was little-changed on Monday and was expected to weaken on the back of some demand for dollars from commercial banks, traders said. At 0849 GMT, commercial banks quoted the shilling at 3,663/3,673, compared with Friday’s close of 3,660/3,670. (Reporting by Elias Biryabarema; Editing by George Obulutsa)
(Reuters) -South African thermal coal exporter Thungela Resources said on Monday its 2024 profit declined 29% on the back of lower prices for the fossil fuel. Thungela’s profit for the year through December 2024 fell to 3.544 billion rand ($194.79 million) from 4.97 billion rand previously. Thermal coal prices remained soft during the year due …
Coal miner Thungela’s 2024 profit sinks 29% on weak prices Read More »
NAIROBI (Reuters) – Kenya’s shilling weakened slightly on Monday, and was expected to ease further due to slowing dollar inflows, especially from non-governmental organisations, traders said. At 0655 GMT, the shilling traded at 129.35/65 per dollar, compared with Friday’s closing rate of 129.00/30. The International Monetary Fund said on Monday they will discuss a new …
Kenyan shilling eases, seen under pressure from lower dollar inflows Read More »
JOHANNESBURG (Reuters) -South Africa’s Absa Group on Monday named former Standard Bank South Africa chief Kenny Fihla as its new CEO, effective June 17. Fihla joined Standard Bank Group in 2006 and has held numerous senior roles, including that of Chief Executive Officer of its corporate investment banking (CIB) unit, Deputy Chief Executive Officer of …
Absa Group names Standard Bank South Africa head Kenny Fihla as new CEO Read More »
By Sinéad Carew and Naomi Rovnick NEW YORK/ LONDON (Reuters) -U.S. equities followed European stocks higher on Friday to end a bumpy week on a positive note, although safe-haven gold hit a record high with investors still showing some signs of anxiety about the economic impact of tariffs. German government bond yields and the euro …
Stocks rebound after S&P 500 correction, safe-haven gold touches record Read More »
