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Tunisia aims to raise phosphate output to 14 million metric tons in 2030

5 Mar 2025

TUNIS (Reuters) – Tunisia aims to raise phosphate production about five-fold to 14 million metric tons in 2030, the government said on Wednesday, part of a plan which seeks to restore the vital sector to help revive‮ ‬Tunisia’s faltering public finances. Tunisia was once one of the world’s largest producers of phosphate minerals, which are …

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Nigerian competition agency sues MultiChoice over price hike

5 Mar 2025

LAGOS, Nigeria (Reuters) – Nigeria’s competition commission is suing the local unit of MultiChoice Nigeria Limited, Africa’s biggest pay television company, and its chief executive, John Ugbe, for violating regulatory directives, the watchdog said on Wednesday. The Federal Competition and Consumer Protection Commission (FCCPC) asked MultiChoice Nigeria last month to maintain its pricing structure for …

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South African rand gains as markets process Trump’s policies

5 Mar 2025

JOHANNESBURG (Reuters) – South Africa’s rand gained on Wednesday, capitalising on pressure faced by the U.S. dollar as markets digested the impact of U.S. President Donald Trump’s policies. At 1505 GMT, the rand traded at 18.37 against the dollar, about 0.5% stronger than its previous close. The dollar hit three-month lows on Wednesday as the …

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BP and Mauritania say leak detected at gas project off West Africa

5 Mar 2025

By Anait Miridzhanian and Kissima Diagana DAKAR/NOUAKCHOTT (Reuters) -A gas leak has been detected at a well of the BP-operated Greater Tortue Ahmeyim gas project offshore Senegal and Mauritania, the British company and Mauritania’s environment ministry said on Wednesday. BP said the environmental impact from the leak was expected to be negligible, and that the …

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Egypt inflation seen plunging to 14.5% in February: Reuters poll

5 Mar 2025

CAIRO (Reuters) – Egypt’s inflation rate is forecast to have tumbled to 14.5% in February, as the exceptionally high price increases of the last two years are no longer reflected in the statistics, according to a poll released on Wednesday.  The median forecast of 15 analysts polled by Reuters was for annual urban consumer inflation …

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Ghana consumer inflation slows for second month in February

5 Mar 2025

(Refiles to corrects date to Wednesday in first paragraph) ACCRA (Reuters) -Ghana’s consumer inflation rate slowed for the second month in a row in February, to an annual 23.1% from 23.5% in January, the statistics service said on Wednesday. Government statistician Samuel Kobina Annim told a news conference that the latest decline was due to …

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S.Africa’s Woolworths profit slumps, to reassess value of Australian brands

5 Mar 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -South African retailer Woolworths Holdings reported a 24.8% fall in first-half profit on Wednesday and said it will reassess the value of the assets of underperforming brands in its Australian fashion business. In Australia, high interest rates and elevated living costs continue to weigh on consumer discretionary spending, resulting in …

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Stocks fall on Trump tariffs; euro gains as Germany invests

5 Mar 2025

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes fell on Tuesday as the United States hit Canada, Mexico and China with steep tariffs, while the euro climbed to a three-month peak against the U.S. dollar as German political parties agreed to a 500 billion euro infrastructure fund. U.S. President Donald Trump’s 25% tariffs on …

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South African watchdog probes Novo Nordisk and Sanofi over insulin

5 Mar 2025

(Reuters) -South Africa’s competition watchdog is investigating drugmakers Novo Nordisk and Sanofi over possible anti-competitive practices in the human insulin pen market, the authority said on Tuesday. “We are currently engaging with market participants,” a spokesperson for South Africa’s Competition Commission told Reuters, declining to provide details. The news was reported earlier on Tuesday by …

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Brent settles down, hit 6-month low on OPEC+ output rise, tariffs, Ukraine news

4 Mar 2025

By Stephanie Kelly NEW YORK (Reuters) -Oil prices swooned on Tuesday and settled close to to multi-month lows after reports of OPEC+ plans to proceed with output increases in April and news of U.S. tariffs on Canada, Mexico and China as well as Beijing’s retaliatory tariffs. Brent futures settled 58 cents lower, or 0.8%, at …

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