By Scott DiSavino NEW YORK (Reuters) – Oil prices eased about 1% to a three-week low on a rising U.S. dollar and after the U.S. Federal Reserve kept interest rates steady as expected but noted it would keep the door open to possible future rate hikes due to a strong U.S. economy. Interest rate hikes …
Oil falls to settle at 3-week low as Fed policy stance lifts dollar Read More »
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s share index crossed a psychological threshold of 70,000 points for the first time on Wednesday after stocks gained for the third straight session, Refinitiv data showed. The All Share Index climbed 1.94% to close at 70,581 points for the first time ever. Nigerian equities started to rally at the …
Nigerian stocks rally, cross psychological 70,000 level for first time Read More »
MAIDUGURI, Nigeria (Reuters) – At least 40 people were killed in Nigeria’s Yobe state between Monday and Tuesday after suspected Boko Haram militants shot at villagers and set off a land mine, in the first major attack on the northern eastern state in 18 months, the police said on Wednesday. The attack happened at about …
Suspected Boko Haram kills at least 40 in Nigeria’s Yobe state, police say Read More »
By Elias Biryabarema KAMPALA (Reuters) – Uganda’s army has killed six fighters from an Islamic State-linked group that shot dead a honeymooning couple and their guide in a national park two weeks ago, the military said on Wednesday. The army said its soldiers also captured a commander from the militant Allied Democratic Forces (ADF) which …
Uganda army says it attacked rebels that murdered honeymooning tourists Read More »
LAGOS (Reuters) – Nigerian President Bola Tinubu on Wednesday asked the Senate to approve nearly $8 billion in new debt as part of a 2022-24 external borrowing plan to finance infrastructure, health, education and security. Nigeria, Africa’s biggest economy and top oil producer, has been relying increasingly on debt due to lower tax collections and …
Nigeria’s president seeks Senate approval to borrow $8 billion Read More »
By Kopano Gumbi, Anait Miridzhanian and Wendell Roelf CAPE TOWN (Reuters) -South Africa’s finance minister will propose tax changes next year as part of an effort to stabilise public finances that are under strain from a drop in mining revenue, a mid-term budget review on Wednesday showed. The budget document presented to parliament projected wider …
South Africa seeks tax boost as higher debt peak forecast Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa’s hopes for a raft of new power projects to help it out of a crippling energy crisis are fading, with investment still elusive as an already extended funding deadline looms, government officials, companies and bankers have told Reuters. Africa’s most developed economy is facing daily power cuts …
Bulk of South Africa’s emergency power projects still seeking funds to build Read More »
By Nyasha Chingono HARARE (Reuters) – Zimbabwe earned $209 million from lithium exports in the first nine months of 2023, nearly treble last year’s earnings, Mines Minister Zhemu Soda said on Wednesday, as Chinese-driven mining and processing projects take off. Africa’s top lithium producer, Zimbabwe hopes demand for the mineral, which is key for renewable …
Zimbabwe lithium export earnings treble as projects take off Read More »
By Tannur Anders and Rachel Savage JOHANNESBURG (Reuters) -The rand strengthened on Wednesday after South Africa’s mid-term budget statement, despite the proposal for tax measures next year to raise additional revenue as budget deficits are projected to widen over the next three years. At 1510 GMT, the rand traded at 18.5975 against the dollar, over …
South African rand firms after mid-term budget, despite wider deficit forecast Read More »
NAIROBI (Reuters) – International Monetary Fund (IMF) staff on Wednesday reached a preliminary agreement with Somalia that will allow for the release of $100 million in funding under a new 36-month credit programme, the fund said. The so-called staff-level agreement under the Extended Credit Facility (ECF) is subject to approval from the fund’s board. It …
Somalia, IMF reach preliminary deal on $100 million in new funding Read More »
