CAIRO (Reuters) – Egypt’s top cigarette maker, Eastern Tobacco Company, will raise prices by 10 to 15 percent, or 1.5-3 Egyptian pounds ($0.0840-$0.2521), starting on Thursday, Chairman Mohammed Othman Haroun said. A man flicks ashes from his cigarette over a dustbin, January 10, 2014. REUTERS/Aly Song/File Photo Prices have soared in import-dependent Egypt ever since […]
Read More LONDON (Reuters) – The world’s oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday. Oil barrels are pictured at the site of Canadian group Vermilion Energy in Parentis-en-Born, France, October 13, 2017. REUTERS/Regis Duvignau/File Photo The expected drop […]
Read More JOHANNESBURG (Reuters) – South Africa’s rand gained on Thursday, reversing the previous session’s slide, as some traders picked up the currency at the current level, assuming the trade conflict between the United States and China would lead to another spell of risk aversion. South African Rand coins are seen in this photo illustration taken September […]
Read More JOHANNESBURG (Reuters) – South Africa’s Reserve Bank will probably talk tough on taming rising consumer prices but choose to leave the repo rate unchanged next week to give the economy a chance to grow, a Reuters poll found on Thursday. South African Reserve Bank governor Lesetja Kganyago listens during a briefing at Parliament in Cape […]
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Read More LUSAKA (Reuters) – Zambia will be careful to ensure its planned debt restructuring does not disrupt Chinese-financed projects, President Edgar Lungu said on Wednesday, after China’s ambassador to the southern African nation sought clarification on the matter. Zambian President Edgar Lungu reacts after participating in a discussion at the World Economic Forum on Africa 2017 […]
Read More LONDON (Reuters) – OPEC on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to the return of an oil market surplus despite an OPEC-led pact to restrain supplies. The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at […]
Read More JOHANNESBURG (Reuters) – South African retailer Steinhoff, said on Wednesday it had begun a process with creditors for a “lock-up agreement”, which once completed could allow the restructuring of huge debts within three months. “The launch of the LUA (lock-up agreement) marks the culmination of several weeks of discussions with the ad hoc committees of […]
Read More LONDON (Reuters) – OPEC on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to a market surplus returning despite an OPEC-led pact to restrain supplies. The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at OPEC’s headquarters in […]
Read More NAIROBI (Reuters) – A refined products pipeline linking Kenya’s capital Nairobi with the port city of Mombasa is complete and ready for use, state-run Kenya Pipeline Company (KPC) said on Wednesday. Tanker trucks that used to haul oil products, carry crude oil during a pilot scheme to export crude oil, as they arrive at the […]
Read More BENGHAZI, Libya/TUNIS (Reuters) – Libya’s Tripoli-based National Oil Corp (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of the country’s oil output. The building housing Libya’s oil state energy firm, the National Oil Corporation (NOC), is seen […]
Read More JOHANNESBURG (Reuters) – Barclays Africa changed its name back to Absa on Wednesday, in a rebranding aimed at underlining its South African roots as Britain’s Barclays gradually retreats from Africa. A women uses an ATM at a branch of Barclay’s South African subsidiary Absa bank in Johannesburg, South Africa March 6, 2016. REUTERS/Siphiwe Sibeko The […]
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