(Reuters) – Uganda’s tough new anti-LGBTQ law, which stipulates the death penalty for “serial offenders”, presents a conundrum for multi-nationals wanting to grow in Africa while promoting diversity and inclusion. A coalition of companies that includes Google and Microsoft said it was “deeply disappointed” by the bill signed into law on Monday. Here are some…
JOHANNESBURG (Reuters) – South Africa’s central bank has warned of risks to the country’s financial stability, due to capital outflows and the possibility of sanctions following a U.S. diplomat’s accusation of supplying weapons to Russia to aid its campaign in Ukraine. These risks, along with the threat of a grid failure due to repeated power…
By Kopano Gumbi and Rachel Savage JOHANNESBURG (Reuters) – The outlook for Africa’s debt sustainability remains “cloudy” as low growth and high inflation challenge the stability of many economies across the continent, the World Bank’s Africa chief economist said on Monday. Andrew Dabalen said a form of stagflation taking hold was one of the biggest…
By Tim Hepher and Valerie Insinna PARIS/WASHINGTON (Reuters) -Cathay Pacific Airways Ltd is close to placing an order worth around $2 billion for Boeing 777-8F freighters as the Hong Kong carrier embarks on the partial renewal of a fleet of dedicated 747 cargo jets, industry sources said on Monday. The selection follows a hard-fought battle…
NAIROBI (Reuters) – Kenya will sign a trade pact with Russia aimed at boosting cooperation between businesses, President William Ruto’s office said on Monday, after hosting Russian Foreign Minister Sergei Lavrov in Nairobi. Russia has stepped up its drive to boost economic ties with Africa to help offset a big chill in relations with the…
By Karin Strohecker and Libby George LONDON (Reuters) – The top policymaker picks of Turkey’s re-elected president Tayyip Erdogan are taking centre stage as markets try to gauge whether he will change course towards economic orthodoxy or double down on policies widely viewed as unsustainable. Erdogan is widely expected to use his victory in Sunday’s…
By Elizabeth Howcroft LONDON (Reuters) -European stock indexes edged lower on Monday and euro zone bond yields dropped, but news that the U.S. had reached a debt ceiling deal over the weekend kept Wall Street futures positive. U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal on Saturday to raise…
By Dhara Ranasinghe LONDON (Reuters) – The dollar nudged down on Monday, pulling back from six-month peaks against the yen as a U.S. debt ceiling deal lifted risk appetite in world markets and dented the greenback’s safe-haven appeal. U.S. President Joe Biden on Sunday finalised a budget agreement with House Speaker Kevin McCarthy to suspend…
By Jason Lange WASHINGTON (Reuters) – The U.S. is rapidly approaching the deadline for Congress to pass a deal, reached over the weekend by Democratic President Joe Biden and top congressional Republican Kevin McCarthy, to suspend the government’s $31.4 trillion debt ceiling or risk a catastrophic default. WHEN WAS THE DEBT CEILING REACHED? Washington regularly…
DUBLIN (Reuters) – Annual Irish retail sales volumes rose sharply again last month due to another surge in car sales, jumping 7.5% year-on-year, Central Statistics Office data showed on Monday. When a 23.5% year-on-year increase in motor trades was excluded, retail sales rose by 0.5% month-on-month compared with a headline monthly increase of 2.8% and…
