By Chris Mfula LUSAKA (Reuters) -Zambia is lobbying for its official and private creditors to meet to resolve their differences over a restructuring proposal for $3 billion of international bonds, its president said on Friday. In a major setback for Zambia, official creditors, which include China and members of the Paris Club of creditor nations, …
Zambia lobbying for creditors to meet as restructuring drags Read More »
(Reuters) -South Africa’s state-owned logistics firm Transnet on Friday reported a 1.6 billion rand ($87 million) loss in the six months to Sept. 30 on the back of declining rail, port and pipeline volumes amid higher costs. Transnet made a 159 million rand profit during the same period last year. Although its revenue rose 8.6% …
South Africa’s Transnet reports $87 million half-year loss Read More »
By Alex Lawler LONDON (Reuters) -Angola has said it is leaving the Organization of the Petroleum Exporting Countries (OPEC) with effect from Jan. 1 2024, after exits from Ecuador in 2020 and Qatar in 2019. Angola, which joined OPEC in 2007, produces about 1.1 million barrels per day, compared with 28 million bpd for the …
Factbox-Angola to quit OPEC, reducing membership to 12 countries Read More »
(Reuters) – Democratic Republic of Congo held presidential and legislative elections this week against a backdrop of militia violence in the east, a chaotic campaign and claims the electoral commission was not prepared to hold a free and fair vote. Here are some key facts about how the election could unfold. WHAT HAS HAPPENED SO …
Factbox-How Congo’s election could unfold and why it matters Read More »
By Nelson Banya and Chris Mfula (Reuters) – The United Arab Emirates’ International Resources Holdings (IRH) will invest $1.1 billion in Zambia’s Mopani Copper Mines in return for 51% ownership of the business, the state-owned ZCCM Investments Holdings (ZCCM-IH) said on Friday. Last month, Zambia picked IRH, a unit of Abu Dhabi’s most valuable listed …
Abu Dhabi’s IRH to invest $1.1 billion in Zambia’s Mopani Copper Mines Read More »
By Sinéad Carew NEW YORK (Reuters) -MSCI’s global stock index rose on Thursday, recouping some losses from the previous session’s late-session sell-off, while oil prices fell and the dollar hit its lowest point in a week on the eve of a key U.S. inflation reading. Oil prices, which rallied earlier in the week due to …
Shares rise after Wednesday’s sell-off; dollar and oil fall Read More »
KAMPALA (Reuters) – Uganda’s shilling was unchanged on Friday and was expected to hover around its current levels in the coming days as interbank players and businesses wind down activity ahead of the end-of-year holidays, traders said. At 0833 GMT, commercial banks quoted the shilling at 3,755/3,765 to the U.S. dollar, the same as at …
Ugandan shilling flat as activity slows before holidays Read More »
(Reuters) -The death toll from a blast and fire at an oil terminal in Guinea’s capital, Conakry, has increased to 23 from 13 earlier, and the number of injured has risen to 241 from 178, the government said in a statement on Thursday. The statement said that 10 remains were still to be identified, adding …
Toll from blast and fire at Guinea oil depot rises to 23 dead – statement Read More »
By Saqib Iqbal Ahmed and Caroline Valetkevitch NEW YORK (Reuters) -The dollar hit a one-week low against a basket of major currencies on Thursday as U.S. equities rebounded from the prior day’s sell-off and investors braced for Friday’s U.S. inflation data for clues to the path of future Federal Reserve policy. Data earlier Thursday showed …
Dollar index slips to 1-week low; traders eye Friday’s U.S. inflation report Read More »
PARIS/NIAMEY (Reuters) – France is planning to close its embassy in Niger for an indefinite period as it is unable to carry out diplomatic tasks due to restrictions imposed by the ruling junta, a French embassy letter to its Niger staff dated Tuesday and seen by Reuters on Thursday showed. Relations between Niger and France, …
France plans to close embassy in Niger following coup, letter shows Read More »
