Reuters Africa - Squid Business

Sierra Leone charges ex-president’s guard, 11 others over failed coup

FREETOWN (Reuters) – Sierra Leone authorities have charged 12 people with treason in connection with a failed coup in November, including a member of former President Ernest Bai Koroma’s security detail, the government said on Tuesday. Gunmen attacked a military barracks, a prison and other locations in Sierra Leone on Nov. 26, freeing about 2,200 …

Sierra Leone charges ex-president’s guard, 11 others over failed coup Read More »

Global stocks slide, Treasury yields rise on waning rate cut optimism

By Herbert Lash NEW YORK (Reuters) -Stocks in Europe and on Wall Street fell on Tuesday, along with prices for U.S. government debt, on ebbing market optimism about timely interest rate cuts from the Federal Reserve. The dollar jumped against major currencies as the yield on the 10-year Treasury note, which moves inversely to price, …

Global stocks slide, Treasury yields rise on waning rate cut optimism Read More »

Moroccan police seizes 1.4 tonnes of cocaine

RABAT (Reuters) – Moroccan police said it seized on Tuesday 1.488 tonnes (3,280 lb) of cocaine concealed in banana boxes in the northern Tanger Med port. The drug was found in a container on a Turkey-bound ship with a European flag departing from South America, the police said in a statement. The operation was conducted …

Moroccan police seizes 1.4 tonnes of cocaine Read More »

Oil prices settle lower to start 2024 as supply concerns ease

By Georgina McCartney HOUSTON (Reuters) -Oil prices closed the first trading session of 2024 lower as expectations for interest rate cuts waned and on easing concerns that tensions in the Red Sea will disrupt supplies. Brent crude settled at $75.89, down by $1.15 or 1.5%. U.S. West Texas Intermediate crude settled at $70.38 a barrel, …

Oil prices settle lower to start 2024 as supply concerns ease Read More »

Somalia rejects port deal between Ethiopia and Somaliland

By Abdi Sheikh and Abdiqani Hassan MOGADISHU (Reuters) -Somalia on Tuesday rejected a pact its breakaway region of Somaliland signed with Ethiopia allowing it to use a major port with access to the Red Sea in return for recognition as an independent state, saying the agreement had no legal force. Somalia, which views Somaliland as …

Somalia rejects port deal between Ethiopia and Somaliland Read More »

Dollar set for biggest daily jump since October as U.S. yields rebound

By Sinéad Carew NEW YORK (Reuters) -The dollar rose on the first trading day of the year, supported by higher U.S. yields while investors waited for U.S. jobs data and European inflation numbers for clues on central banks’ policies. The dollar index, which measures the U.S. currency against six counterparts, rose 0.799%, on track for …

Dollar set for biggest daily jump since October as U.S. yields rebound Read More »

Egyptians greeted by hefty price rises in new year

CAIRO (Reuters) – Egyptians entered the new year facing a series of price hikes as the government battles to keep up with rampant inflation. Telecom companies raised the prices of their internet services, with state-controlled operator Telecom Egypt (TE) increasing the prices of its internet services by about 33%, effective Jan. 5, according to a …

Egyptians greeted by hefty price rises in new year Read More »

For investors, 2024 is year of transition to a new economic order

By Paritosh Bansal (Reuters) – Investors appear convinced that major Western central banks are close to a much awaited pivot, from raising interest rates to cutting them. Markets rallied as a result, but 2024 could hold surprises as the world adjusts to an economic order where money is not cheap. Global stocks rallied and top …

For investors, 2024 is year of transition to a new economic order Read More »

South African rand kicks off 2024 on weaker note

(Reuters) -The South African rand slipped on Tuesday, the first trading day of 2024, as the U.S. dollar rose on global markets. At 1540 GMT, the rand traded at 18.5750 against the dollar, down 1.6% on its previous close. The dollar was up 0.7% at 102.13 against a basket of global currencies, on track for …

South African rand kicks off 2024 on weaker note Read More »

Two more Congo presidential candidates do not plan court challenge

(Reuters) – Two more candidates who contested last month’s presidential election in Democratic Republic of Congo made clear on Tuesday they will not take the matter to court, making it more likely President Felix Tshisekedi’s provisional win will be confirmed. Congo’s election commission said on Sunday that Tshisekedi had secured more than 73% of the …

Two more Congo presidential candidates do not plan court challenge Read More »