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    • South African business activity shrinks solidly in January

      • BY Reuters|
      • Middle East/Africa , South Africa |
      • 02:17 AM ET 02/03/2023

      Activity in South Africa's private sector in January contracted a its fastest pace since the end of 2021 as new orders fell due to rolling power cuts and weak economic conditions, a survey showed on Friday. S&P Global's South Africa purchasing managers' index contracted to 48.7 in January from 50.2 in December.

    • Spain to recruit Moroccan truck drivers to fill labour shortages

      • BY Reuters|
      • Middle East/Africa , Morocco |
      • 11:46 AM ET 02/02/2023

      Spain will train and employ a group of Moroccan truck drivers as a way to channel migration into Europe's transport sector affected by an acute labour shortage, a senior Spanish government source told Reuters during a summit in Rabat. Major Western economies, including Spain, have suffered from such shortages in the last two years, leading to supply problems and bottlenecks.

    • Saudi Arabia's king appoints Ayman Alsayari as new central bank governor

      • BY Reuters|
      • Middle East/Africa |
      • 08:28 AM ET 02/02/2023

      Saudi Arabia's king appointed Ayman Alsayari as central bank governor replacing Fahad al-Mubarak, a decree carried on the state media on Thursday said. Alsayari was vice-governor for investment and research at the central bank and is a member of the board of directors of Saudi Arabia's National Debt Management Center.

    • South African rand firms ahead of Fed rate decision

      • BY Reuters|
      • Middle East/Africa , South Africa |
      • 11:09 AM ET 02/01/2023

      South Africa's rand strengthened against a weakened dollar on Wednesday as investors awaited the U.S. Federal Reserve's interest rate decision, which could signal the end of its tightening cycle. At 1559 GMT, the rand traded at 17.1775 against the U.S. dollar, 1.22% stronger than its previous close.

    • W. Africa Crude-Flurry of deals and tenders after Chinese New Year holiday

      • BY Reuters|
      • Middle East/Africa |
      • 11:12 AM ET 01/31/2023

      Activity picked up on Tuesday with a flurry of deals and tenders after a demand slowdown last week due to Chinese New Year festivities. ANGOLA. * Angola's state firm Sonangol sold two of its spot March cargoes. * Sonangol was still said to be offering a cargo of Girassol at dated Brent plus $1.70. * BP sold a cargo of early March loading Saturno to Unipec on Monday.

    • W. Africa Crude-Nigerian offers rise on European refining margins

      • BY Reuters|
      • Middle East/Africa |
      • 11:47 AM ET 01/30/2023

      Offers for Nigerian and other lighter crude grades kept inching higher on Monday as European refining margins for gasoline neared three-month highs. * More frequent tendering from South Asia after a wane earlier in the month and December was also supporting differentials, traders said.

    • Kenya central bank holds its benchmark lending rate at 8.75%

      • BY Reuters|
      • Middle East/Africa |
      • 08:44 AM ET 01/30/2023

      Kenya's central bank held its benchmark lending rate steady at 8.75% on Monday, its monetary policy committee said, saying its last hike in November was still working its way through the economy. Six out of nine market participants polled by Reuters had predicted the bank would hold the rate steady, while three expected it would be raised.

    • EMERGING MARKETS-Stocks slide on Adani rout; Nigeria bonds tumble on Moody's downgrade

      • BY Reuters|
      • Asia-Pacific , China , India , Middle East/Africa |
      • 05:56 AM ET 01/30/2023

      * China stocks edge up as holiday travel rebound lifts sentiment. * Adani's market loss swells to $70 bln; India shares dip. * Pakistani rupee hits all-time low to meet IMF demands. * EM stocks extend losses, currencies add 0.3% By Bansari Mayur Kamdar.

    • Strong quake in northwest Iran kills at least three people

      • BY Reuters|
      • Non-Eurozone , Turkey , Asia-Pacific , Middle East/Africa |
      • 07:24 PM ET 01/28/2023

      An earthquake with a magnitude of 5.9 struck northwest Iran near the border with Turkey on Saturday, killing at least three people and injuring more than 300, state media reported. The official news agency IRNA reported the toll citing the head of emergency services at the university in the city of Khoy, near the quake's epicentre.

    • Strong quake kills at least two people in northwest Iran

      • BY Reuters|
      • Non-Eurozone , Turkey , Asia-Pacific , Middle East/Africa |
      • 01:34 PM ET 01/28/2023

      An earthquake with a magnitude of 5.9 struck northwest Iran near the border with Turkey on Saturday, killing at least two people and injuring dozens, Iranian media reported. "There are 122 injured so far in the city of Khoy... and unfortunately two dead," emergency services spokesperson Mojtaba Khaledi told state television.

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