NAIROBI (Reuters) – Kenya’s economic growth slowed in the third quarter of 2024 from the same period a year earlier due to underperformance in most sectors of the economy, the statistics office said on Tuesday. The economy grew 4.0% year-on-year from 6.0% in the same quarter the previous year, the Kenya National Bureau of Statistics …
Kenya’s Q3 GDP growth slows on weak construction, mining sectors Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Cocoa purchases in Ghana slumped in December due to election-related payment delays from the state marketing board and squeezed exporter financing, farmers and buyers told Reuters, voicing concern that the delays could fuel smuggling. Cocoa prices have hit record highs over the past year because of poor crops …
Ghana cocoa purchases slump as election delays payments, financing Read More »
(Reuters) – Australia’s Syrah Resources said on Tuesday it has secured a waiver for default events under its United States International Development Finance Corporation (DFC) loan of $150 million, granting it relief following operational disruptions at its Balama Graphite operation in Mozambique due to ongoing nationwide protests. The company suspended operations at its flagship graphite …
Australia’s Syrah Resources secures loan waiver amid Mozambique unrest Read More »
By Chibuike Oguh NEW YORK (Reuters) -Global stocks rose while the U.S. dollar index dropped on Monday after President-elect Donald Trump denied a newspaper report that his incoming administration would likely pursue a less-aggressive tariff policy than he previously threatened. European stocks and currencies climbed following a Washington Post report earlier on Monday that Trump …
Stocks rise, dollar drops after Trump denies tariff policy pullback Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices eased in volatile trade on Monday as some bearish economic news from the United States and Germany offset bullish support from a weaker U.S. dollar and forecasts for increased heating demand for energy from a winter storm. After rising for five days in a row, Brent futures …
Oil prices ease as weak economic data offsets higher US winter storm heating demand Read More »
By Tiemoko Diallo, Divya Rajagopal and Portia Crowe BAMAKO (Reuters) -Canada’s Barrick Gold said on Monday it would suspend operations in Mali if the country does not lift restrictions on gold shipments within the coming week, as the mining group faces what sources told Reuters amounted to a confiscation order. Barrick’s Mali standoff, threats by …
Gold miner Barrick threatens to freeze Mali operations in escalating dispute Read More »
TRIPOLI (Reuters) – Libya’s National Oil Corporation (NOC) said on Monday that subsidiary Zallaf for Oil and Gas Co. had started production at the Chadar field with more than 7.5 million cubic feet of associated gas per day and 1,500 barrels of crude per day. The NOC said in a statement the production rates …
Libya’s NOC subsidiary launches oil, gas production at Chadar field Read More »
JOHANNESBURG (Reuters) -The South African rand regained some ground against a weaker dollar on Monday ahead of a flurry of economic data releases this week from the world’s biggest economy. At 1506 GMT, the rand traded at 18.5350 against the dollar, about 0.6% stronger than its previous close. The dollar was last down about 0.8% …
South African rand firms ahead of US data flurry Read More »
JUBA (Reuters) -Sudan has lifted a nearly year-long force majeure on the transport of crude oil from its neighbour South Sudan to a port on the Red Sea after security conditions improved, according to a letter seen by Reuters on Monday. Khartoum declared force majeure in March last year after the main pipeline carrying oil …
JOHANNESBURG (Reuters) -Steel producer ArcelorMittal South Africa’s shares fell more than 15% on Monday after the company said it would proceed with the closure of its loss-making long steel business. The closure of the operations has been on the cards since November 2023 amid prolonged weak economic conditions, logistics and energy challenges and competition from …
ArcelorMittal South Africa to close plant, shares plummet Read More »
