CAIRO (Reuters) – State-owned United Bank will list on the Egyptian stock exchange on Thursday, the bourse said on Wednesday, a further step towards a rare privatisation of an Egyptian lender. The central bank announced last month it would sell shares in United Bank in an initial public offering by March. United Bank’s 1.1 billion …
Egypt’s United Bank to list on Cairo stock exchange on Oct. 24 Read More »
ABUJA (Reuters) -Nigeria’s cabinet has approved borrowing roughly $618 million from a group of financiers to buy six Italian-made M-346 attack jets and ammunition for the country’s air force, Information Minister Mohammed Idris said on Wednesday. Earlier this month the air force said it was acquiring 24 M-346 combat jets and 10 AW109 Trekker helicopters …
Nigeria approves borrowing $618 million for attack jets, ammunition Read More »
By Camillus Eboh ABUJA (Reuters) -A Nigerian court on Wednesday ordered the release of Binance executive Tigran Gambaryan after the government dropped money laundering charges against him to allow him to get medical treatment abroad. Nigeria’s Economic and Financial Crimes Commission (EFCC) withdrew the case against Gambaryan, a U.S. citizen and head of financial crime …
Nigerian court orders release of Binance executive after charges dropped Read More »
JOHANNESBURG (Reuters) -South Africa’s inflation dropped sharply in September, hitting its lowest level in more than three years and bolstering expectations for another interest rate cut by the central bank next month. Annual consumer price inflation slowed to 3.8% from 4.4% in August, Statistics South Africa data showed. Economists polled by Reuters had forecast inflation …
South African inflation drops sharply, paving way for more rate cuts Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices settled higher for the second consecutive session on Tuesday, as traders downplayed hopes of a Middle East ceasefire and focused on signs of improving demand from China, which could tighten market balances in the months ahead. Brent crude futures for December gained $1.75, or 2.4%, to settle …
Oil settles up 2% as Middle East war rages and supplies tighten Read More »
By Chibuike Oguh NEW YORK (Reuters) -Global stocks dropped for the second straight session while U.S. yields rose on Tuesday amid market uncertainty ahead of the U.S. election as well as the outlook on interest rate cuts. Democratic Vice President Kamala Harris held a marginal lead of 46% to 43% over Republican former President Donald …
Shares fall, US yields rise amid election and rate cut jitters Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar rose to a fresh 2-1/2-month high on Tuesday, continuing its recent ascent on expectations the Federal Reserve will temper its interest rate cut path, while investors positioned ahead of an apparently tight U.S. presidential election. The greenback has risen for three straight weeks and is …
Dollar hits to 2-1/2-month peak as US rates, election eyed Read More »
JOHANNESBURG (Reuters) -The South African rand was stronger on Tuesday, buoyed by global precious metals prices and its appeal for carry trades. At 1502 GMT, the rand traded at 17.5050 against the dollar, 0.6% stronger than its closing level on Monday. Carry trades involve investors borrowing funds in countries with low interest rates and putting …
South African rand supported by carry trade and precious metals Read More »
WASHINGTON (Reuters) – Progress in quelling inflation is more pronounced for advanced economies such as the U.S., while it will take longer for countries in the Middle East and Sub-Saharan Africa, which are still struggling with double-digit price increases, the International Monetary Fund’s chief economist said on Tuesday. Pierre-Olivier Gourinchas also told a news conference …
IMF sees longer inflation struggle for African, Middle East countries Read More »
