Reuters Video Archives - Page 222 of 304

Stocks up with yields; US inflation, Ukraine optimism offset tariff fears

12 Mar 2025 12 Mar 2025

By Sinéad Carew NEW YORK (Reuters) -Global stocks rose on Wednesday with U.S. Treasury yields as relief over cooler U.S. inflation in February was countered by uncertainty around U.S. President Donald Trump’s tariff policies and their potential impact on inflation and global growth. Oil prices settled higher after data on slower stockpile builds, while the …

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Accidents at giant Simandou iron ore project kill more than a dozen workers, prompting inquiry

12 Mar 2025 12 Mar 2025

(Reuters) – A routine night shift ended in tragedy for Alseny Camara. The 32-year-old was working for a Chinese subcontractor building a railway to reach Simandou – the world’s largest new iron mining complex, which is being developed by Anglo-Australian mining giant Rio Tinto and its partners in West Africa. Camara was unloading 1.3-tonne-bags of …

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Oil production resumes at Libya’s Mabruk field after a decade

12 Mar 2025 12 Mar 2025

By Tala Ramadan DUBAI (Reuters) – Libya’s Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) said in a statement on Wednesday. Production officially restarted on Sunday at an initial rate of 5,000 barrels per day, according to the statement, with plans for …

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South Africa reduces Eskom debt relief package by a further $1.1 billion

12 Mar 2025 12 Mar 2025

PRETORIA (Reuters) – South Africa said on Wednesday that it would reduce its debt relief package for state power utility Eskom by a further 20 billion rand ($1.1 billion) and would give some of its support in loans rather than taking on the company’s debt. “Eskom is now in a much better financial position than …

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South African rand weakens as budget disagreements remain

12 Mar 2025 12 Mar 2025

By Tannur Anders and Sfundo Parakozov PRETORIA (Reuters) -The South African rand fell on Wednesday as disagreements in the ruling coalition persisted despite the finance minister scaling back the size of a contentious tax hike in a revised budget. The budget has been the biggest test so far of South Africa’s fractious coalition politics, with …

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South Africa to incentivise local EV production

12 Mar 2025 12 Mar 2025

By Nqobile Dludla PRETORIA (Reuters) – South Africa will spend 1 billion rand ($54.27 million) to support the local production of new energy vehicles and batteries, as well as related manufacturing projects, the National Treasury said on Wednesday. The country is the largest automotive manufacturing hub in sub-Saharan Africa, hosting brands such as Toyota, Ford, …

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South Africa to remove luxury duty on lower value smartphones

12 Mar 2025 12 Mar 2025

PRETORIA (Reuters) – South Africa’s government has proposed to remove the luxury excise duty on smartphones worth below 2,500 rand ($136.37) from April 1 to support digital adoption for low-income households, the National Treasury said on Wednesday. Currently, so called ad valorem excise duties on smartphones are charged at a rate of 9%. “Government proposes …

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Egypt to lease German gas liquefaction unit to bolster production

12 Mar 2025 12 Mar 2025

DUBAI (Reuters) – Egypt, which has struggled with declining domestic gas production, plans to lease a German floating gas liquefaction unit, the Egyptian petroleum ministry said in a statement on Tuesday. Egypt, the most populous Arab country, has been seeking to ramp up production at its giant Zohr offshore gas field, in a bid to …

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India holds talks with Congo for pact to source cobalt, copper, sources say

12 Mar 2025 12 Mar 2025

By Neha Arora NEW DELHI (Reuters) – India is holding talks with the Democratic Republic of Congo to sign an initial agreement securing supplies of critical minerals such as cobalt and copper, two sources with direct knowledge of the matter said. The world’s fastest-growing major economy, India has launched efforts to secure critical minerals from …

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Kenya shilling little changed, LSEG data shows

12 Mar 2025 12 Mar 2025

NAIROBI (Reuters) – The Kenyan shilling was little changed on Wednesday, data from the London Stock Exchange Group showed. At 0843 GMT it was quoted at 129.00/129.80 to the U.S. dollar, compared to Tuesday’s close of 128.90/129.40. (Reporting by Elias Biryabarema; Editing by Alexander Winning)