By Brian Benza GABORONE (Reuters) – Botswana’s government on Tuesday signed a long-delayed 10-year diamonds sales agreement with Anglo American unit De Beers adding a possible extension period of five more years to the provisional pact. Under the final deal, the share of Botswana’s state-owned Okavango Diamond Company (ODC) in the production of Debswana – …
Botswana, De Beers sign long-delayed diamonds deal Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s state oil firm NNPC on Tuesday announced a joint venture with Swedish tanker giant Stena Bulk and Nigerian offshore logistics leader Caverton Marine to overhaul maritime transportation in West Africa. The newly formed company will streamline crude oil, refined products and LNG shipping across West Africa and cater …
Nigeria’s NNPC, Stena Bulk and Caverton launch new shipping venture Read More »
By Duncan Miriri NAIROBI (Reuters) – African leaders’ push to mobilise domestic sources of cash to help fund billions in sovereign borrowing will face slow progress until low savings rates rise and African investors step up, experts and analysts say. The drive to tap their own bourses, pensions and savings funds comes after punishing years …
Low savings, shallow markets stymie African leaders’ push to mobilise local cash Read More »
By Alden Bentley, Harry Robertson and Wayne Cole NEW YORK/LONDON/SYDNEY (Reuters) -Wall Street struggled for traction on Monday, ending mixed after slumping last week, while German election results buoyed German shares and Europe’s single currency as investors waited for midweek results from artificial intelligence chip leader Nvidia. The euro’s positive reaction to Sunday’s conservative election …
US equities falter while Germany and euro digest election results Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The euro eased off highs from a brief rally on Monday as the focus shifted from the election victory of Germany’s conservatives to how quickly a coalition government can be formed. Friedrich Merz was set to become Germany’s next chancellor after his party emerged victorious in Sunday’s election, …
Euro retreats from highs as German coalition talks eyed, dollar dips Read More »
By Ange Kasongo and Sonia Rolley KINSHASA (Reuters) – The Democratic Republic of Congo, the world’s top producer of cobalt, said on Monday it has temporarily halted the metal’s exports to limit its flow on the market because it says it is over-supplied. The ban will be in place for at least four months, the …
Congo bans cobalt exports for four months to curb oversupply Read More »
PARIS (Reuters) – Cocoa production in Ivory Coast in the 2024/25 season is on course to remain around last season’s disappointing level after adverse weather and crop conditions continued, the country’s agriculture minister said. A sharp fall in output in Ivory Coast, the world’s biggest supplier of the chocolate ingredient, and number two producer Ghana …
Ivory Coast’s cocoa crop to hold near last season’s, minister says Read More »
JOHANNESBURG (Reuters) – Google could be required to pay up to 500 million rand ($27.29 million) a year in compensation to South African media outlets after the country’s competition watchdog found the tech giant guilty of anti-competitive practices, while Meta and X also face fines. In provisional findings from a probe into market activities, released …
JOHANNESBURG (Reuters) – South Africa’s rand strengthened on Monday after soft U.S. data and ahead of a data-packed week, as investors shrugged off the return of rolling blackouts to Africa’s most industrialised economy. At 1502 GMT, the rand traded at 18.38 against the U.S. dollar, about 0.4% firmer than its closing level on Friday. The …
By Nelson Banya (Reuters) – South African petrochemical firm Sasol is exiting the coal export market as it starts a de-stoning project to enhance the quality of feedstock into its core synthetic fuel and chemicals business, executives said on Monday. Sasol produces fuel and chemicals from coal and gas, while exporting about 2 million tons …
Sasol exits coal export market, focuses on quality upgrade Read More »
