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Emirates, Ethiopian edge towards Airbus deals after Dubai talks

DUBAI (Reuters) – Emirates moved closer on Wednesday towards a potential agreement to buy dozens of Airbus A350-1000 jets after narrowing differences over performance and guarantees in talks with engine maker Rolls-Royce, industry sources said. Ethiopian Airlines was set to announce an order for around 10 of the smaller A350-900 after talks with Rolls-Royce at …

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Tullow Oil trims output forecast, but raises cash flow outlook

By Eva Mathews and Shadia Nasralla (Reuters) -West Africa-focused Tullow Oil on Wednesday trimmed its 2023 production forecast, but raised its annual cash flow outlook and moved to ease concerns about its debts by tendering to buy back some of its bonds. The company raised its full-year free cash flow estimate to $150 million from …

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Ethiopia agrees bilateral debt-service suspension, seeks Eurobond restructuring

By Alexander Winning and Rachel Savage (Reuters) -Ethiopia has reached an agreement in principle with its official bilateral creditors on an interim debt-service suspension and will start talks to restructure a $1 billion Eurobond maturing next year, its finance ministry said on Wednesday. Ethiopia’s economy is under pressure from double-digit inflation, hard currency shortages and …

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South African retailer Woolworths’ sales to increase amid tough conditions

JOHANNESBURG (Reuters) – South African retailer Woolworths said on Wednesday it expects to report sales rose 4.7% in the 20-weeks ending Nov. 12 as it invested in its core businesses and newer products. The food, fashion and beauty retailer, which targets the mid- to upper-income segment of the country, had been leaking market share to …

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Liberia counts votes in presidential runoff as many hope for change

By Alphonso Toweh and Carielle Doe MONROVIA (Reuters) -Ballot counting was underway in Liberia on Tuesday in a run-off election between President George Weah and former vice president Joseph Boakai, in what is expected to be a closely fought vote. Former soccer star Weah, 57, who came to power in 2018 after beating Boakai, won …

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US to resume food aid across Ethiopia next month

By Daphne Psaledakis WASHINGTON (Reuters) -Washington will resume food aid for people across Ethiopia next month, after assistance was paused earlier this year, following implementation of comprehensive reforms, according to a U.S. Agency for International Development (USAID) statement seen by Reuters on Tuesday. Ethiopia’s food crisis has deepened in recent years as a result of …

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Ghana’s government and public labour union agree 23% rise in base pay

ACCRA (Reuters) – Ghana’s government and the public labour union on Tuesday agreed to increase the public service base pay by 23% across the board from January to June 2024, and readjusted to 25% from July to December 2024, they said in a joint statement. (Reporting by Maxwell Akalaare Adombila; Writing by Sofia Christensen; editing …

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Wall St, European stocks fly on soft U.S. inflation data

By Koh Gui Qing and Elizabeth Howcroft NEW YORK/LONDON (Reuters) – World stocks soared on Tuesday after U.S. inflation data came in cooler than forecast in October, fuelling investor bets that an era of interest rate rises is over and borrowing costs may even soon start to fall. Data showed U.S. consumer prices were unchanged …

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Nigeria central bank says old bank notes to remain legal tender

ABUJA (Reuters) – Nigeria’s central bank said on Tuesday old bank notes that were due to be removed from circulation next month would now remain legal tender, ending months of uncertainty after an attempt earlier this year to remove them caused serious cash shortages. The Supreme Court in March ordered the Central Bank of Nigeria …

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Dollar sinks after data shows US inflation cooling

By Herbert Lash NEW YORK (Reuters) -The dollar fell more than 1% against major currencies on Tuesday after U.S. consumer price data showed the pace of inflation moderating further in October, increasing the odds that the Federal Reserve is done hiking interest rates. U.S. consumer prices were unchanged last month amid lower gasoline prices, the …

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