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By Stephanie Kelly and Arunima Kumar NEW YORK (Reuters) -Oil prices settled slightly higher on Tuesday, helped by weakness in the dollar, but gains were capped by mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth. Brent crude futures settled 28 cents, or 0.4%, higher at $69.56 a …

Oil settles slightly up on weaker dollar, US economic fears cap gains Read More »

By Chibuike Oguh and Yadarisa Shabong NEW YORK (Reuters) -The euro hit a five-month high on Tuesday after Ukraine agreed to a 30-day ceasefire proposal, while the dollar rose to a one-week high before weakening against the Canadian dollar following U.S. President Donald Trump’s additional tariffs on Canada. Trump doubled his planned tariff on all …

Euro jumps to five-month high on hopes for Ukraine ceasefire; Canadian dollar rebounds after Trump tariffs Read More »

By Christian Akorlie ACCRA (Reuters) – Ghana’s new government will make steep spending cuts this year to recover the economy, Finance Minister Cassiel Ato Forson said on Tuesday as he announced wider than expected deficit and debt figures for 2024, particularly in the cocoa and energy sectors. “The state of the economy … does not …

Ghana to implement economic ‘shock therapy’ to reduce debt Read More »

By Arathy Somasekhar HOUSTON (Reuters) – Nigeria will be able to meet OPEC’s production target, an executive from Nigeria’s state oil company NNPC said on Tuesday. After years of underperforming OPEC quotas, Nigeria met its OPEC targets in January, said Udobong Ntia, NNPC’s executive vice president of upstream. “In January, I think we’re back on …

Nigeria will be able to meet OPEC output target, state oil company exec says Read More »

JOHANNESBURG (Reuters) -South Africa’s rand gained on Tuesday against a weaker dollar as investors awaited a delayed national budget and worried over a possible recession in the world’s biggest economy. At 1422 GMT, the rand traded at 18.25 against the U.S. dollar, about 0.6% stronger than Monday’s close. Domestic-focused investors will look to the local …

South African rand gains ahead of delayed budget, US recession fears Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South African lender Absa forecast mid-single digit revenue growth for 2025 and fewer bad loans following a 10% jump in its annual profit, driven by improved performance in the second half. Some of Absa’s most sensitive retail and small business customers found relief as inflationary pressures eased, interest rates fell …

South African lender Absa forecasts mid-single digit revenue growth Read More »

(Reuters) -J.P.Morgan on Tuesday downgraded South African equities to “neutral” from “overweight,” citing concerns over an economic slowdown and the effectiveness of the country’s policy reforms. “While South Africa’s investment case on reforms remains an attractive point of departure, it is unlikely to result in meaningful (economic) growth that’s above 2% in the coming two …

JPMorgan downgrades South African equities on economic slowdown concerns Read More »