Reuters Africa

Egypt’s economy seen growing 4% this fiscal year as currency weakens- Reuters poll

By Patrick Werr CAIRO (Reuters) – Egypt’s economy will grow 4.0% this fiscal year and 4.5% next even as it endures a continuing depreciation in its currency, a Reuters poll showed on Thursday, in line with a government forecast for the current year. The country’s already vulnerable economy was shaken further by Russia’s invasion of …

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Sudan fighting flares but military approves ceasefire extension

By Khalid Abdelaziz and Nadine Awadalla KHARTOUM (Reuters) -Sudan’s army and a paramilitary force battled on Khartoum’s outskirts on Wednesday, undermining a truce in their 11-day conflict, but the army expressed willingness to extend the ceasefire. The army late on Wednesday said its leader, General Abdel Fattah al-Burhan, gave initial approval to a plan to …

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Kenyan cult leader told followers to starve themselves ahead of world’s end, sources say

By Duncan Miriri MALINDI, Kenya (Reuters) – The leader of a Kenyan cult told his followers the world would end on April 15 and instructed them to starve themselves to be the first to go to heaven, a relative of cult members and hospital staff told Reuters on Wednesday. Eighty-nine followers of the Good News …

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Tech powers Nasdaq gains; recession fears weigh on cyclicals, dollar

By Stephen Culp NEW YORK (Reuters) – The Nasdaq rose and the dollar weakened on Wednesday as investors weighed solid company earnings against weaker-than-expected economic data and ongoing wrangling in Washington over raising the debt ceiling. While surging tech shares helped the Nasdaq hold positive territory, the S&P 500 and the Dow were weighed down …

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Oil drops nearly 4% as recession fears outweigh US inventory draw

(Refiles to fix formatting) By Laila Kearney NEW YORK (Reuters) – Oil prices dropped by almost 4% on Wednesday, extending the previous session’s sharp losses, even after a report showed U.S. crude inventories fell more than expected, as recession fears grew for the world’s biggest economy. Brent crude settled at $77.69 a barrel, losing $3.08, …

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WHO fears more deaths in Sudan due to outbreaks, collapse of services

GENEVA (Reuters) – The World Health Organization (WHO) expects “many more” deaths in Sudan due to outbreaks of disease and a lack of essential services amid fighting, its director general said on Wednesday.  Battles between Sudan’s army and the Rapid Support Forces (RSF) paramilitary since mid-April has killed at least 459 people and injured more …

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World Bank’s Malpass: debt assessments should reflect growing share of domestic debt

By Andrea Shalal WASHINGTON (Reuters) – Debt sustainability analyses carried out by the World Bank and International Monetary Fund should reflect the growing share of domestic debt in many developing countries’ overall debt levels, World Bank President David Malpass said on Wednesday. Malpass called for urgent measures to jump-start sovereign debt restructuring efforts for the …

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