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 »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed down on Tuesday and crude prices fell as investors parsed economic data and girded themselves for a series of central bank decisions, including an expected rate cut from the Federal Reserve. Bitcoin forged new record highs and benchmark U.S. Treasury yields steadied ahead of what …
By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates. Brent futures fell 72 cents, or 1.0%, to settle at …
Oil prices ease 1% to one-week low on weak Chinese, German economic data Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against a stronger dollar on Tuesday as investors turn their attention to the Federal Reserve’s interest rate decision. At 1502 GMT, the rand traded at 18.16 against the greenback, about 1.7% weaker than its previous close. The dollar index was last trading up about 0.12% against a basket of …
South African rand weakens ahead of Fed decision Read More »
NAIROBI (Reuters) – Kenya has further extended an oil supply deal with three Gulf firms that has helped to relieve pressure on its shilling currency, it said on Tuesday. The deal with Saudi Aramco, Abu Dhabi National Oil Company and Emirates National Oil Company was initially agreed in March last year and was extended in …
Kenya extends petroleum supply deal with Gulf firms Read More »
SAO PAULO/JOHANNESBURG (Reuters) -Brazilian digital bank Nubank said on Monday it has invested $150 million in Tyme Group, a Singapore-based digital bank backed by China’s Tencent with 15 million customers in South Africa and the Philippines. Having completed its latest investment round, Tyme Group has achieved unicorn status – conferred on startups valued at more …
Brazilian digital lender Nubank invests $150 million in Tyme Group Read More »
