Reuters Africa - Squid Business

Uganda estimates it will pay Umeme $225 million when its power concession ends

KAMPALA (Reuters) – Uganda estimates it will pay power distributor Umeme Limited about $225 million to allow the utility to recoup its investments in the national grid after its concession ends in March 2025, a top energy ministry official said. Umeme, which is listed on both Uganda and the neighbouring Kenyan bourses, has been running …

Uganda estimates it will pay Umeme $225 million when its power concession ends Read More »

Global shares, yields slip on clouded soft-landing outlook

By Herbert Lash NEW YORK (Reuters) -The dollar rebounded further from last year’s sell-off and global stock markets extended a New Year slide on Wednesday as doubts about the chances of a soft landing mounted even as the Federal Reserve almost declared victory in taming inflation. Policymakers appeared increasingly convinced last month that inflation was …

Global shares, yields slip on clouded soft-landing outlook Read More »

US dollar rises to two-week peak on doubts about number of rate cuts in 2024

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar rose to a two-week high on Wednesday as investors continued to take profits on short dollar positioning amassed toward the end of last year, even as they questioned market expectations of roughly six interest rate cuts in 2024. For December, the dollar fell about 2%. Trading …

US dollar rises to two-week peak on doubts about number of rate cuts in 2024 Read More »

Oil prices settle up 3% on supply concerns after oilfield shutdown in Libya

By Scott DiSavino NEW YORK (Reuters) – Oil prices climbed on Wednesday, settling up about 3% after a disruption at Libya’s top oilfield added to fears that mounting tensions in the Middle East could disrupt global oil supplies. Brent <LCOc1> futures rose $2.36, or 3.1%, to settle at $78.25 a barrel. U.S. West Texas Intermediate …

Oil prices settle up 3% on supply concerns after oilfield shutdown in Libya Read More »

Sierra Leone charges ex-president Koroma with treason over foiled coup

By Umaru Fofana FREETOWN (Reuters) -Sierra Leone’s ex-President Ernest Bai Koroma has been charged with four offences including treason for his alleged role in a failed military attempt to topple the West African country’s government in November, a court in the capital Freetown said on Wednesday. The court’s decision could escalate tensions in Sierra Leone …

Sierra Leone charges ex-president Koroma with treason over foiled coup Read More »

French embassy in Niger closed until further notice – foreign ministry

PARIS (Reuters) – Paris on Tuesday said its embassy in Niger was now closed, confirming previously announced plans, after relations between the two countries deteriorated following a military coup in the African country. “For five months, our embassy has been severely hampered, making it impossible to carry out its missions”, a spokeswoman for the French …

French embassy in Niger closed until further notice – foreign ministry Read More »

South African rand weakens again after big drop

(Reuters) – The South African rand fell again on Wednesday after a big drop the day before when the U.S. dollar posted its best daily performance since March 2023. At 1547 GMT, the rand traded at 18.8250 against the dollar, nearly 1.4% weaker than its previous close. On Tuesday, the first trading day of 2024, …

South African rand weakens again after big drop Read More »

Protests shut down Libya’s Sharara oilfield – engineers

(Reuters) -Local protests have forced a full shutdown of production at Libya’s Sharara oilfield, which can produce up to 300,000 barrels per day, two engineers told Reuters on Wednesday. A video circulating on the internet showed a number of local protesters from Fezzan region in southern Libya announcing the closure of the Sharara field until …

Protests shut down Libya’s Sharara oilfield – engineers Read More »

Nigeria stocks gain for second day, banks rally

ABUJA (Reuters) -Nigerian stocks climbed 2.04% on Wednesday, extending gains for the second session in 2024 after banks, consumer goods and oil shares gained, LSEG data showed. The index all share index rose to 77,537.57 points, its highest ever. It gained 1.63% on Tuesday, the first trading session of this year, extending 2023 gains of …

Nigeria stocks gain for second day, banks rally Read More »

Sudan’s RSF open to talks on immediate ceasefire with army

ADDIS ABABA (Reuters) -Sudan’s paramilitary Rapid Support Forces (RSF) said on Tuesday it was open to an immediate, unconditional ceasefire through talks with the Sudanese army as it signed a declaration with the Taqadum civilian coalition and invited the army to do the same. A nine-month war in Sudan, which now faces the world’s largest …

Sudan’s RSF open to talks on immediate ceasefire with army Read More »