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CAIRO (Reuters) -Egypt’s current account deficit more than doubled to $5.9 billion in July-September 2024, compared with $2.8 billion in the year-ago quarter, as Suez Canal revenues remain depressed, the central bank said on Thursday. Suez Canal revenues fell 61.2% to $931.2 million in the fiscal first quarter, which began July 1, from $2.4 billion …

Egypt’s current account deficit surges in July-Sept 2024, central bank says Read More »

By Georgina McCartney HOUSTON (Reuters) -Oil prices settled lower on Thursday with Yemen’s Houthi militia expected to halt attacks on ships in the Red Sea, and investors weighing strong U.S. retail sales data.  Brent crude futures settled down 74 cents, or 0.9%, at $81.29 per barrel, after rising 2.6% in the previous session to their …

Oil settles lower on expected halt to Houthi shipping attacks Read More »

By Nqobile Dludla CAPE TOWN (Reuters) – U.S. e-commerce giant Amazon.com opened on Thursday a walk-in centre in South Africa that it says will help its independent sellers attract more customers and expand their businesses, while it also seeks to gain market share. For Amazon – which is striving to catch up with market-leader Takealot, …

Amazon opens Cape Town walk-in centre as strives for market-share Read More »

TRIPOLI (Reuters) -The head Libya’s National Oil Corporation (NOC), Farhat Bengdara, has resigned due to “health issues,” and Masoud Sulaiman has been appointed as acting chief, the state oil company said on Thursday. The Government of National Unity’s head, Abdulhamid al-Dbeibah, accepted Bengdara’s resignation and appointed Sulaiman pending the formation of a new board of …

Head of Libya’s National Oil Corporation resigns Read More »

JOHANNESBURG (Reuters) -South Africa’s rand slipped on Thursday, after data out of the world’s biggest economy showed U.S. weekly jobless claims rose. By 1520 GMT, the rand traded at 18.83 against the dollar, about 0.4% weaker than its previous close. The dollar was little changed a basket of currencies. A sturdy labour market, sticky inflation …

South African rand weaker after U.S. jobs data, swayed by Fed’s rate path Read More »

By Ron Bousso (Reuters) -Chevron said on Wednesday it did not find commercial hydrocarbon reserves in an exploration well in Namibia’s Orange Basin. The U.S. oil producer said the well called Kapana 1X in the PEL90 block provided valuable information about the basin and the company anticipated it would explore further in Namibia. Oil companies …

Chevron says no commercial oil, gas found at Namibia exploration well Read More »