CAIRO (Reuters) – Events in the Red Sea and regional challenges cost Egypt around $7 billion in revenues from the Suez Canal in 2024, Egyptian President Abdel Fattah al-Sisi said on Thursday. Egypt lost more than 60% of the canal’s revenues in 2024 compared with 2023, Sisi added in his statement, without going into details …
BENGHAZI (Reuters) – Libya’s eastern-based government said in a statement on Wednesday that it had agreed on a proposal to end fuel subsidies and would prepare a mechanism to implement the agreement. The administration headed by Osama Hamad, a rival to the internationally recognised government based in Tripoli, did not disclose further details about the proposal. …
Libya’s eastern-based government agrees to proposal to end fuel subsidies Read More »
CAIRO (Reuters) -The International Monetary Fund said on Wednesday it reached a staff-level agreement with Egypt on the fourth review under its Extended Fund Facility arrangement, potentially unlocking a $1.2 billion disbursement under the programme. Egypt, grappling with high inflation and shortages of foreign currency, agreed to the $8 billion, 46-month facility in March. A …
IMF grants Egypt initial approval of $1.2 billion fourth review Read More »
FREETOWN (Reuters) – Sierra Leone’s central bank kept its main interest rate unchanged at 24.75%, it said in a statement on Tuesday. (Reporting by Umaru Fofana; Writing by Anait MiridZhanian)
By Alden Bentley, Samuel Indyk and Rae Wee NEW YORK/LONDON (Reuters) -Wall Street topped off a global share rally in thin trade on Thursday as markets prepared for early Christmas Eve closes, while the dollar was buoyed by firmer Treasury yields and speculation that the Federal Reserve would slow its easing in 2025. The Dow …
Global shares and dollar firm in muted pre-Christmas trade Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar edged higher on Tuesday in thin holiday trading as the expected slower path of interest rate cuts from the U.S. Federal Reserve compared with other global central banks continued to command market direction. The greenback has jumped more than 7% since the end of September, powered in …
Dollar edges higher as Fed rates view sets direction Read More »
JOHANNESBURG (Reuters) – Gemfields Group said on Tuesday disruptions were possible at its largest ruby mine in Mozambique, after people torched buildings in villages nearby in escalating unrest linked to October’s disputed election. Mozambique’s top court on Monday confirmed long-ruling party Frelimo’s victory in the election that has sparked protests by opposition groups that say …
Gemfields says unrest could disrupt Mozambique ruby mine Read More »
JOHANNESBURG (Reuters) – The South African rand drifted in holiday-thinned trade on Tuesday and was set to end the year down marginally against the dollar. At 0707 GMT, the rand traded at 18.5375 against the dollar, up about 0.1% on Monday’s closing level. “The smallest move can be exaggerated as investors head into the Christmas …
South African rand drifts in holiday-thinned trade Read More »
By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) -A global equity index rose on Monday with help from Wall Street, and U.S. Treasury yields climbed to an almost seven-month high while data showed a deterioration in U.S. consumer confidence and investors prepared for fewer Federal Reserve rate cuts in 2025. In U.S. equities, Nasdaq …
Stocks gain with bond yields, dollar up; economy, rates in focus Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices edged lower on Monday in thin trade ahead of the Christmas holiday on concerns about a supply surplus next year and a strengthened dollar. Brent crude futures settled down 31 cents, or 0.43%, at $72.63 a barrel. U.S. West Texas Intermediate crude futures fell 22 cents, or …
Oil prices ease on surplus concerns, dollar strength Read More »
