Reuters Africa - Squid Business

UK PM Sunak’s new Rwanda plan suffers blow as immigration minister quits

By Alistair Smout and Michael Holden LONDON (Reuters) -British Prime Minister Rishi Sunak set out draft emergency legislation on Wednesday which he said would pave the way for asylum seekers to be deported to Rwanda, but immediately suffered a major setback when his immigration minister quit. The “Safety of Rwanda Bill”, published the day after …

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Oil falls 4% as build in gasoline stocks fuel demand concerns

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell nearly 4% on Wednesday to their lowest settlements since June, as worries about global fuel demand mounted after U.S. data showed a larger-than-expected rise in gasoline inventories. Brent crude futures settled down $2.90, or 3.8%, at $74.30 a barrel. U.S. WTI crude futures fell by $2.94, or …

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Dollar at 2-week high, euro softer as market bets on rate cuts

By Hannah Lang WASHINGTON (Reuters) -The U.S. dollar was at a two-week high on Wednesday, while the euro was weak across the board as markets ramped up bets that the European Central Bank (ECB) will cut interest rates as early as March. Although markets are still pricing at least 125 basis points of interest rate …

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Factbox-How Egyptians will vote for their president

(Reuters) – Egypt will hold a presidential election on Dec. 10-12 in which former army chief Abdel Fattah al-Sisi is poised to secure a third term that will extend his rule into a second decade. Public attention has shifted from an economic crisis to the war in Gaza during the run-up to the polls. Here …

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Suez Canal traffic uninterrupted after ship suffers fault – canal authority

CAIRO (Reuters) -A container ship collided with a floating bridge in the eastern lane of the Suez Canal on Wednesday but the passage of ships through the waterway was not interrupted, the Suez Canal Authority (SCA) said. Tugboats helped the One Orpheus after it suffered a fault with its rudder while transiting the canal on …

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Stigma, regulatory barriers delay mpox response in country that needs it most

By Jennifer Rigby LONDON (Reuters) – Vaccines and treatments that could help tackle an mpox epidemic in the Democratic Republic of Congo are lying unused outside the country despite a death rate far higher than from the global outbreak that began last year. Stigma, regulatory hurdles and competing disease outbreaks are all factors holding back …

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Factbox-Egypt’s presidential election: Who are the candidates?

(Reuters) – Egypt will hold a presidential election on Dec. 10-12 in which Abdel Fattah al-Sisi is set to sweep to a third term in a vote overshadowed by the war in Gaza. The most prominent potential opposition candidate pulled out in October, complaining that dozens of his supporters had been arrested and that officials …

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Congo presidential hopeful Fayulu fuelled by 2018 loss

By Sonia Rolley and Ange Kasongo KINSHASA (Reuters) – Congolese presidential candidate Martin Fayulu has a blunt message for voters: The 2018 election was stolen from him and he is back to fight for the top job he believes is rightfully his. Fayulu, 67, a former oil executive and leader of the Engagement for Citizenship …

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Development bank head at COP28 urges African exemption from EU carbon tax

By Simon Jessop, AbdelHadi Ramahi and Rachel Savage DUBAI (Reuters) – African countries should be exempt from a plan by the European Union to impose a carbon tax on some imports, the head of the African Development Bank told Reuters, putting the cost of the levy to the continent at as much as $25 billion …

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South African rand gains on bets Fed rate cut coming

JOHANNESBURG (Reuters) -The South African rand firmed on Wednesday after subdued U.S. labour data boosted bets that the Federal Reserve was done hiking interest rates and might start easing its monetary policy early next year. At 1500 GMT, the rand traded at 18.8425 against the dollar, around 0.7% stronger than its previous close. The dollar …

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