By Cooper Inveen ACCRA (Reuters) – Ghana’s central bank on Monday raised its main interest rate to 29.5%, in a sign the monetary committee does not yet see the country’s economic situation stabilising despite two consecutive months of slowing inflation. The cocoa, gold, and oil-producing nation, one of West Africa’s largest economies, is facing its …
JOHANNESBURG (Reuters) -South Africa’s Public Enterprises Minister Pravin Gordhan will lead a delegation to China next month in a bid to break an impasse over the delivery of locomotives and spare parts by Chinese rail equipment maker CRRC E-Loco, state-owned logistics company Transnet said on Tuesday. The two have engaged in legal battles after Transnet …
S.African minister Gordhan heads to China over locomotives dispute Read More »
By Ayenat Mersie NAIROBI (Reuters) – Religious leaders and human rights groups in Kenya called for calm on Tuesday as a second week of protests against cost of living increases raised fears of further violence, while President William Ruto said criminals would be held to account. Opposition leader Raila Odinga, who lost to Ruto in …
Religious, rights groups call for calm in Kenya’s second week of protests Read More »
By Josh Horwitz SHANGHAI (Reuters) – Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises. The U.S.-listed shares of the Chinese e-commerce conglomerate, which …
China’s Alibaba to break up empire into six units as Jack Ma returns home Read More »
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, accusing the founder of the now-bankrupt FTX cryptocurrency exchange of paying a $40 million bribe to Chinese officials so they would unfreeze his hedge fund’s accounts. The new bribery conspiracy charge adds to the pressure …
U.S. charges FTX’s Bankman-Fried with paying $40 million Chinese bribe Read More »
By Mark Trevelyan (Reuters) -A Russian who was investigated by police after his daughter drew an anti-war picture at school was sentenced on Tuesday to two years in a penal colony on charges of discrediting the armed forces. But the whereabouts of the convicted man, Alexei Moskalyov, were unclear. The court said in an official …
Russian whose daughter drew anti-war picture gets two years jail but flees Read More »
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -A top U.S. regulator told a Senate panel on Tuesday that Silicon Valley Bank did a “terrible” job of managing risk before its collapse, fending off criticism from lawmakers who blamed bank watchdogs for missing warning signs. In the first congressional hearing into the sudden collapse of …
US regulator cites ‘terrible’ risk management for Silicon Valley Bank failure Read More »
BENGALURU (Reuters) – Vedanta Ltd on Tuesday declared a fifth interim dividend for the fiscal year ending March 31 even as the company’s parent, Vedanta Resources, scrambles to secure fresh loans and refinance existing debt. The Indian natural resources company declared interim dividend of 20.50 rupees per share. The move comes days after a report …
India’s Vedanta declares fifth interim dividend as debt pressures mount at parent Read More »
By Caroline Valetkevitch (Reuters) – U.S. stocks ended slightly lower on Tuesday as investors weighed comments from a top U.S. regulator on struggling banks and sold shares of technology-related names after their recent strong run. Michael Barr, the Federal Reserve’s top banking regulator, told a Senate panel that Silicon Valley Bank did a “terrible” job …
Wall Street ends down with tech; investors assess bank comments Read More »
By Laila Kearney NEW YORK (Reuters) – Crude oil prices edged up on Tuesday, extending sharp gains from the previous session on supply disruption risks from Iraqi Kurdistan and hopes that banking sector turmoil is contained. Brent crude futures settled at $78.65 a barrel, up 53 cents, or 0.7%. West Texas Intermediate U.S. crude settled …
Oil prices rise on Kurdish supply risks and banking relief Read More »
