NAIROBI (Reuters) – Tanzania’s economy expected to grow by about 6% in 2025 from an estimated 5.4% growth in 2024, its finance minister and central bank governor said in a letter to the International Monetary Fund. Some of the potential risks to the performance in the near term would include intensification of regional conflicts, increased …
(Reuters) – Australian miner South32 said on Thursday it expects to rebuild alumina stocks in the coming days if trucking conditions remain favourable at the Mozal Aluminium smelter in Mozambique after operational disruptions at the site due to post-election civil unrest. Earlier this month, the company retracted its output prediction for its Mozal Aluminium smelter …
South32 expects to start rebuilding at Mozambique project after post-election hit Read More »
By Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar advanced against its peers on Wednesday, hitting its highest level in two years, after the Federal Reserve delivered a widely expected interest rate cut while also indicating it would slow the pace of its monetary policy easing cycle. The Fed lowered its benchmark policy rate by …
Dollar index hits two-year high after Fed delivers rate cut Read More »
By Divya Rajagopal and Vallari Srivastava (Reuters) -Canadian miner Barrick Gold said on Wednesday it had submitted an arbitration request to the International Centre for Settlement of Investment Disputes, to settle a disagreement with Mali over its Loulo-Gounkoto gold mine complex. Barrick, the world’s second-largest gold miner based on production, and the Mali junta have …
Barrick Gold seeks arbitration over Mali gold mine dispute Read More »
By Elisha Bala-Gbogbo ABUJA (Reuters) -Shell has received approval from Nigeria’s oil minister for the sale of $2.4 billion in onshore and shallow-water assets to Renaissance Group, Renaissance said in a statement on Wednesday. The approval marks the end of Shell’s nearly a century of operations in Nigerian onshore oil and gas and is part …
Nigeria approves Shell’s $2.4 billion asset sale to Renaissance Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigeria will auction undeveloped oil and gas blocks next year, prioritising natural gas development to support the country’s commitment to UN Sustainable Development Goals, the oil regulator said on Wednesday. This would be the third auction of blocks since the country passed an expansive oil overhaul law in 2021, …
Nigeria plans to auction undeveloped oil and gas blocks in 2025 Read More »
JOHANNESBURG (Reuters) – South Africa’s rand was steady on Wednesday as markets await the Federal Reserve’s interest rate decision and look for clues on its direction for next year. At 1500 GMT, the risk-sensitive rand traded at 18.0575 against the dollar, near its previous close. The Fed is widely expected to deliver a 25-basis-point cut …
By Wendell Roelf CAPE TOWN (Reuters) – Mozambique’s 2024 economic growth is likely to be revised down from a previous forecast of 4.3% due to post-election civil unrest and the impact of Cyclone Chido, a senior International Monetary Fund (IMF) official said. In October, Daniel Chapo, the candidate of Mozambique’s ruling party Frelimo, was declared …
Mozambique’s post-election unrest to hit economic growth, says IMF official Read More »
By Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar gained against major currencies on Tuesday following better-than-expected retail sales data that showed underlying economic momentum while markets braced for interest rate moves from the Federal Reserve and other central banks. Commerce Department data on Tuesday showed U.S. retail sales surpassed expectations by jumping 0.7% in …
Dollar rises amid Fed rate cut expectations, better-than-expected retail sales data Read More »
(Reuters) – Apple on Tuesday said it strongly disputes allegations that it uses conflict minerals in its products and told suppliers earlier this year to stop purchasing those minerals from the Democratic Republic of Congo and Rwanda. In a statement to Reuters, Apple said it told its suppliers their smelters and refiners must stop buying …
Apple says it has told suppliers to stop buying minerals from Congo Read More »
