ABU DHABI (Reuters) – Egyptian billionaire Naguib Sawiris said his country’s mega-projects should be reconsidered to save money as they require a lot of foreign currency. “I will be polite and I would say we have an overambitious president who is doing mega projects that are requiring a lot of foreign currency and we should …
Egypt should take hard look at mega-projects, billionaire Sawiris says Read More »
SEOUL (Reuters) – South Korea’s Hyundai Rotem has won a double-decker train order worth around 2.2 trillion won ($1.54 billion) from Morocco’s state-owned rail operator ONCF, the company said on Wednesday. It marks the biggest order secured for its railway business to date, it said. ($1 = 1,431.2000 won) (Reporting by Hyunsu Yim; Editing by …
Hyundai Rotem wins $1.5 billion order from Morocco’s national rail operator Read More »
By Alden Bentley and Amanda Cooper NEW YORK/LONDON (Reuters) -Two major Wall Street indexes saw their fourth straight decline on Tuesday, as Treasury yields and the dollar retreated on signs of softening U.S. growth and uncertainty over Trump administration policies. Germany’s election result buoyed the euro, and European shares closed up. Oil prices fell to …
Wall Street ends mixed as European shares gain; US yields, dollar tumble Read More »
CAIRO (Reuters) – Algeria’s state oil and gas firm Sonatrach and China’s Sinopec signed a contract for hydrocarbon development and exploration worth $850 million in the north African country, the Algerian company said on Tuesday. Sonatrach CEO Rachid Hachichi said during the signing of the agreement that the company is currently negotiating with seven international …
RABAT (Reuters) – The supervisory board of Maroc Telecom, Morocco’s leading telecoms operator, appointed on Tuesday former finance minister Mohamed Benchaaboun as chair of the management board, replacing long-serving Abdeslam Ahizoune. Ahizoune led the company for 27 years as it expanded its operations in Africa with subsidiaries in Benin, Burkina Faso, the Central African Republic, …
Maroc Telecom appoints former finance minister as chair Read More »
By Sonia Rolley and Felix Njini JOHANNESBURG (Reuters) – The Democratic Republic of Congo is considering introducing cobalt export quotas as the world’s biggest supplier of the battery metal seeks to curb oversupply and boost prices, three sources familiar with the details told Reuters. Cobalt prices are languishing at historically low levels amid slackening demand …
Exclusive-Congo weighs cobalt export quotas to revive prices amid supply glut Read More »
By Kopano Gumbi CAPE TOWN (Reuters) – Global trade tensions and a potential value-added tax hike in South Africa could derail two years of slowing inflation, the country’s central bank governor said on Tuesday. Speaking on the sidelines of a meeting of G20 finance officials in Cape Town, Lesetja Kganyago said uncertain trade conditions and …
South African central bank governor says trade and tax policies pose inflation risks Read More »
By Anna Hirtenstein (Reuters) – Trading houses Vitol and Glencore will receive $380 million in compensation after their gas supplier, trading firm Taleveras, won a legal battle in a London court against Nigeria’s sole liquefied natural gas (LNG) producer for non-delivery of cargoes, court documents seen by Reuters showed. The case heard in London’s High …
Exclusive-Vitol, Glencore win $380 million award in Nigerian LNG litigation Read More »
By Elisha Bala-Gbogbo ABUJA (Reuters) – Nigeria’s economy gained pace in the fourth quarter of 2024, growing at its fastest in three years driven mainly by its services sector, data showed on Tuesday. Gross domestic product grew 3.84% in annual terms, more than the 3.46% reported in the third quarter of 2024, the 3.19% seen …
Nigeria’s economy grows at fastest in three years in fourth quarter Read More »
JOHANNESBURG (Reuters) – South Africa’s rand was stable on Tuesday amid market caution about U.S. President Donald Trump’s tariff plans and geopolitical stance. As of 1501 GMT, the rand traded at 18.3725 against the dollar, near its previous close of 18.3750. The dollar last traded about 0.4% weaker against a basket of currencies. Investors have …
South African rand stable as markets wait for Trump’s next moves Read More »
