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Nigeria central bank aims for 21% inflation, seeks to support naira

By Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria’s central bank aims for inflation to fall to about 21% and will work to strengthen the country’s undervalued naira currency, Governor Olayemi Cardoso said on Wednesday. Cardoso faces pressure to raise interest rates when the Central Bank of Nigeria (CBN) holds a rate-setting meeting next month for the first …

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Tullow Oil on track to deliver $600 million free cash flow over next 2 years

(Reuters) -West Africa-focused Tullow Oil said on Wednesday it was on track to deliver about $600 million free cash flow over the next two years to achieve its stated target of $800 million from 2023 to 2025, sending its shares about 8% higher. The London-listed oil and gas explorer said the start-up of Jubilee South …

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South African inflation falls for second month in December

JOHANNESBURG (Reuters) -South Africa’s consumer inflation fell for the second month in a row in December, to 5.1% year on year from 5.5% in November, statistics agency data showed on Wednesday. The latest reading takes headline inflation slightly closer to the mid-point of the central bank’s 3%-6% target range, or 4.5%, where the bank has …

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India’s RBL Bank targets 20% loan growth over next two financial years- CEO

By Siddhi Nayak MUMBAI (Reuters) – Indian private lender RBL Bank expects a 20% growth in its loan book over the next two financial years, largely led by secured retail assets, its managing director and chief executive officer said on Wednesday. “We are trying to get into areas which are futuristic … and have a …

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British equities hit one-week high as China pledges boost sentiment

By Sruthi Shankar and Khushi Singh (Reuters) -British equities touched a one-week high on Wednesday, bolstered by China-exposed stocks following measures taken by the Chinese central bank to support the economy, while sterling rallied after a survey hinted at high-for-longer interest rates. The exporter-heavy FTSE 100 ended 0.6% higher, while the domestically oriented FTSE 250 …

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India’s Zee asks Sony to honour merger obligations, approaches tribunal

By Chris Thomas and Kashish Tandon BENGALURU (Reuters) – Zee Entertainment on Wednesday called on Sony to honour its obligations to close a $10 billion merger deal between the companies and asked an Indian tribunal to order Sony to complete the combination that the Japanese firm terminated. Sony terminated merger plans with Zee on Monday …

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South African rand firms after inflation report, focus on rate decision

JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Wednesday after inflation fell for the second consecutive month in December, ahead of an interest rate decision by the central bank. At 1508 GMT, the rand traded at 18.8500 against the dollar, 1% stronger than its previous close. The dollar was last down about 0.41% against a basket …

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Factbox-What to expect in 2024: Fed pivot, cooling inflation, easing growth

(Reuters) -Global growth will likely slow this year, but a dovish tilt in the Federal Reserve’s stance has raised hopes for the U.S. economy and brightened the outlook for riskier assets, according to big banks. The European Central Bank and the Bank of England sticking to their higher-for-longer rates stance, however, has blurred expectations for …

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US determined to remain strong security partner for Nigeria -Blinken

ABUJA/WASHINGTON (Reuters) – Secretary of State Antony Blinken on Tuesday said the United States is determined to remain a strong security partner for Nigeria, whose military is backed by the U.S., Britain and other allies in a long war against Islamist insurgents. Blinken also discussed challenges to democracy and security in the region during his …

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South Africa expects ICJ judgment on Gaza emergency measures on Friday – News24 cites sources

JOHANNESBURG (Reuters) -South Africa expects the International Court of Justice (ICJ) to rule this Friday on whether it will grant emergency measures to stop the war in Gaza, South African news website News24 reported on Wednesday, citing two sources close to the matter. In response to the news report, South Africa’s justice ministry spokesperson Chrispin …

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