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South African rand weakens in thin trade ahead of local economic releases

JOHANNESBURG (Reuters) – South Africa’s rand slipped in thin trading on Thursday with no market-moving news expected locally ahead of several economic data releases on Friday. At 1002 GMT, the rand traded at 18.5550 against the dollar, over 0.8% lower than its previous close. “Volumes remain low and liquidity is very thin,” said Andre Cilliers, …

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UAE concludes trade talks with Republic of Congo

DUBAI (Reuters) – The United Arab Emirates has completed negotiations for a bilateral trade agreement with the Republic of Congo, the second such deal announced with an African state in a week. “The breadth of the UAE’s trade network continues to broaden as we conclude negotiations toward a Comprehensive Economic Partnership Agreement with the Republic …

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At least 40 more people die in floods and landslides in DR Congo

BUKAVU, Democratic Republic Of Congo (Reuters) – At least 40 more people have died in eastern Democratic Republic of Congo, local authorities said, after heavy downpours overnight on Tuesday unleashed floods and landslides that left residents digging through the mud to find bodies. In the city of Bukavu, onlookers gathered to watch on Wednesday as …

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Congo police disperse banned election protest as opposition cries foul

By Benoit Nyemba and Ange Kasongo KINSHASA (Reuters) -Congolese police violently broke up a banned protest in the capital Kinshasa on Wednesday, leaving several people wounded, and one opposition leader said more marches were planned against last week’s vote. Disputes over the Dec. 20 presidential and legislative elections threaten to further destabilise Democratic Republic of …

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At least 40 killed in Liberian fuel tanker blast, says official

MONROVIA (Reuters) – At least 40 people have died following the explosion of a gas tanker in north-central Liberia, the West African country’s chief medical officer, Francis Kateh, said on Wednesday. The fuel truck crashed late on Tuesday in Totota, Lower Bong County, and soon after exploded, killing and injuring many who had flocked to …

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Nigerian competition watchdog fines British American Tobacco $110 million

By MacDonald Dzirutwe LAGOS (Reuters) -Nigeria’s competition commission has ordered British American Tobacco (BAT) to pay a $110 million fine following allegations of market dominance abuse and infringement of public health regulations, the watchdog said on Wednesday. The Federal Competition & Consumer Protection Commission (FCCPC) said the maker of Lucky Strike and Dunhill cigarettes had …

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Oil drops almost 2% as investors watch Red Sea developments

By Stephanie Kelly NEW YORK (Reuters) -Oil prices dropped nearly 2% on Wednesday, eating into the previous day’s gains as investors monitored developments in the Red Sea, where shippers are returning despite further attacks on Tuesday. Brent crude futures settled down $1.42, or 1.8%, at $79.65 a barrel. U.S. West Texas Intermediate crude fell $1.46, …

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World stocks at highest in over a year on rate cut bets

By Koh Gui Qing and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -World stocks rallied to their highest level in more than a year on Wednesday, while the U.S. dollar hit a five-month low, as expectations mounted that key central banks such as the Federal Reserve will start to cut interest rates early next year. In line …

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Sudan RSF leader visits Uganda in first known wartime foreign trip

(Reuters) – The leader of Sudan’s paramilitary Rapid Support Forces (RSF) General Mohamed Hamdan Dagalo said on Wednesday he met Uganda’s President Yoweri Museveni, his first confirmed appearance outside of Sudan since the war between RSF and the Sudanese army broke out in April. Dagalo, whose whereabouts during the war have been unknown, said on …

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Dollar hits 5-mth low against euro as Fed seen closer to rate cuts

By Karen Brettell NEW YORK (Reuters) -The dollar slipped to a five-month low against the euro and a basket of currencies on Wednesday on expectations the Federal Reserve could soon cut U.S. interest rates. But with many traders out for holidays volumes are likely to remain muted until the New Year, and price moves are …

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