Nigeria mulls one-time 50% windfall tax on bank forex profits
Nigeria’s central bank had already told lenders to hang on to hefty gains they booked after Tinubu loosened foreign exchange rules, triggering the naira’s slump, cautioning they should be held as a...
View ArticleZambian pension fund switches focus from malls to infrastructure
Seeking better returns from projects for new roads and power plants.
View ArticleSatellite images show large oil slick in Red Sea after Houthi attacks
The slick extends from about 60 miles northwest of the Yemeni city of Hodeidah and continues northbound.
View ArticleCopper set for worst week since 2022 as China plenum disappoints
Iron ore dropped 1.6% to $103.80 a ton in Singapore, down by almost 4% this week.
View ArticleOil declines with focus on China’s slowdown and supply outlook
Brent for September settlement fell 0.4% to $84.74 a barrel at 12:05 p.m. in Singapore.
View ArticleChile hit by 7.4 magnitude quake near mining area
The quake hit at 9:50 p.m. local time, according to the United States Geological Survey, at a depth of 117.4 km.
View ArticleTwo oil tankers are ablaze off Singapore, rescue underway
The incident occurred in some of the busiest waters in the world, on a route that links economies including China, Japan and South Korea with the Middle East and Europe.
View ArticleSouth African opposition lawmakers revive land-expropriation bid
A bid to amend the constitution failed in the last parliament because the ANC and EFF, who collectively held the required two-thirds majority, couldn’t agree on the modalities of the legislation.
View ArticleNetflix adds 8m customers, extending lead over rivals
For the second quarter, Netflix said, earnings rose 48% to $4.88 a share, beating estimates of $4.74.
View ArticleVedanta gets back Zambia copper mines after paying $246m
The metals and energy major plans to ramp up copper production from the mines to 300 000 tons a year and cobalt output to 6 000 tons.
View ArticleGlobal flights grind to halt as United, Delta stop service
In total, there were more than 1 000 flights globally that had been cancelled amid an IT-system meltdown that hobbled communication between aircraft and ground-control staff.
View ArticleStocks drop as outages add to tech-sector woes: Markets wrap
Spot gold fell 1.2% to $2 415.06 an ounce.
View ArticleCrowdStrike CEO says fix for global outage has been deployed
CrowdStrike had warned customers that its Falcon Sensor threat-monitoring product was causing Microsoft’s Windows operating system to crash.
View ArticleIMF says Zambia’s de-dollarisation plan may be counterproductive
Macroeconomic stability, including low and stable inflation and limited external pressures, would generally be required for such measures to be effective, IMF Resident Representative Eric Lautier said.
View ArticleSouth Africa to lay out carbon market regulation proposals
Even though South Africa has the potential to produce the credits from its renewable-energy activities and the restoration of carbon-absorbing ecosystems it’s the world’s 15th-biggest producer of...
View ArticleWhat’s chocolate without cocoa butter? ‘Chocolatey’ and cheap
The increased interest in alternatives follows months of elevated prices for cocoa.
View ArticleRatings company to serve Africa set to be ready by next year
It’d be independent and professional, Albert Muchanga said.
View ArticleFive key charts to watch in global commodity markets this week
US crude production has been holding at a record high of 13.3 million barrels a day in July despite a steady decline in the number of rigs drilling in the oil patch.
View ArticleSouth32 tumbles after $818m alumina, nickel writedown
The company’s shares tumbled as much as 12.9% in Sydney, the biggest intraday decline since March 2020.
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