Reuters Africa - Squid Business

G20-led summit for Africa highlights renewed interest in fast-growing continent

By Sarah Marsh and Andreas Rinke BERLIN (Reuters) -Leaders from more than a dozen African countries will gather in Germany over the next two days for the G20 Compact with Africa conference, which aims to help bolster private investment in the world’s poorest, but fast-growing, continent. Underscoring renewed interest in Africa, European Commission President Ursula …

G20-led summit for Africa highlights renewed interest in fast-growing continent Read More »

Liberia President George Weah concedes election defeat to Joseph Boakai

By Carielle Doe and Alphonso Toweh MONROVIA (Reuters) -Liberia President George Weah on Friday conceded election defeat to opposition leader Joseph Boakai after a tight race, ending a presidency marred by graft allegations but helping to ensure a smooth transition of power in the once volatile African nation. Boakai, 78, a former vice president who …

Liberia President George Weah concedes election defeat to Joseph Boakai Read More »

Kenya’s rail operator says floods, landslide disrupting its services from port city

NAIROBI (Reuters) – Flooding and landslides in Kenya’s coastal region has resulted in delays in delivering cargo to and from the port city of Mombasa, the state-owned rail operator said on Saturday. Heavy rains followed by flash floods have submerged towns across East Africa, rendering hundreds of thousands of people homeless. In Kenya, the death …

Kenya’s rail operator says floods, landslide disrupting its services from port city Read More »

Sudanese warring parties trade blame for damaged dam south of Khartoum

(Reuters) -The Sudanese army and the paramilitary Rapid Support Forces blamed each other on Saturday for a strike that damaged a bridge over the Jebel Awlia dam south of Khartoum, the latest piece of key infrastructure to suffer in a seven-moth war. The extent of the damage to the dam was unclear but serious damage …

Sudanese warring parties trade blame for damaged dam south of Khartoum Read More »

Tanzania says one of two citizens missing in Hamas attack confirmed dead

DAR ES SALAAM (Reuters) – A Tanzanian citizen missing since the Oct. 7 raid by Palestinian Hamas militants on southern Israel has been confirmed dead while a second remains unaccounted for, the Ministry of Foreign Affairs in Dar Es Salaam said. In a statement issued late on Friday, it said the family of farming student …

Tanzania says one of two citizens missing in Hamas attack confirmed dead Read More »

Rio Tinto to pay $28 million fine to settle US SEC fraud case

By Jonathan Stempel NEW YORK (Reuters) -Rio Tinto, one of the world’s largest mining companies, agreed to pay a $28 million fine to settle a U.S. Securities and Exchange Commission lawsuit that accused it of fraud in handling a failed investment in a Mozambique coal project. The settlement disclosed on Friday in Manhattan federal court …

Rio Tinto to pay $28 million fine to settle US SEC fraud case Read More »

IMF may need to augment Egypt program amid Gaza war impacts, Georgieva says

SAN FRANCISCO (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva told Reuters on Friday the Fund was “seriously considering” a possible augmentation of Egypt’s $3 billion loan program due to economic difficulties posed by the Israel-Hamas war. Georgieva told Reuters in an interview on the sidelines of the Asia Pacific Economic Cooperation Summit that …

IMF may need to augment Egypt program amid Gaza war impacts, Georgieva says Read More »

Dollar posts steep weekly fall, trades below 150 yen

By Herbert Lash and Iain Withers NEW YORK/LONDON (Reuters) – The dollar posted its second-steepest weekly decline versus other major currencies this year on Friday, while the yen strengthened sharply, and the dollar traded below 150 yen, as concerns grow about the weakening global economic outlook. Cooler-than-expected U.S. inflation data on Tuesday and Wednesday hastened …

Dollar posts steep weekly fall, trades below 150 yen Read More »

Stocks steady, bonds in euphoric mood on bets of peak rates

By Koh Gui Qing and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -World stocks steadied near two-month peaks on Friday and Treasury yields briefly touched two-month lows as investors held fast to the belief that U.S. interest rates have peaked and might even fall next year. But a reality check came when Federal Reserve Bank of Boston …

Stocks steady, bonds in euphoric mood on bets of peak rates Read More »

Bus passengers use rope to pull themselves to safety as floods hit Kenya’s Mombasa

MOMBASA (Reuters) – Heavy rains pounded the streets of Kenyan coastal city of Mombasa, with some passengers evacuated from a flooded bus by holding on to a rope amid chest-high water. Others stood on top of the bus with umbrellas and raincoats as they waited for their turn to pull themselves to safety in Kisauni …

Bus passengers use rope to pull themselves to safety as floods hit Kenya’s Mombasa Read More »