Egypt's non-oil private sector experienced shrinkage, with April's S&P Global Egypt Purchasing Managers' Index registered at 47.4, marking 41 months in contraction.
Business activity and new orders declined in the country, while export orders (...)
Lebanon's private sector faced its steepest decline this year, with the BLOM Lebanon PMI survey reporting a rapid deterioration in April to a four-month low of 48.9.
The report indicates that escalating geopolitical tensions led to weakened demand, (...)
Ukraine's energy company DTEK's trading arm is gearing up to enhance its workforce and venture into the liquefied natural gas (LNG) sector to strengthen its ties with Europe, Bloomberg reported on Wednesday.
D. Trading, aspires to recruit up to 12 (...)
German utility company EnBW announced the signing of a 15-year liquefied natural gas (LNG) contract with Abu Dhabi National Oil Company (ADNOC), Reuters reported on Wednesday.
This agreement comes as Europe increases its LNG imports following (...)
Microsoft Corporation has closed down the engineering division of its Africa Development Centre in Nigeria, just two years after its establishment in the West African nation, Bloomberg reported.
The centre, located in Lagos, was one of two such (...)
Nigerian firms are addressing overdue dollar commitments following central bank reforms that bolstered liquidity in the nation's foreign exchange market, Bloomberg reported on Wednesday.
Major entities like MTN Nigeria Communications Plc, BUA Foods (...)
Zambia's kwacha plunged to a historic low against the US dollar on Wednesday, hitting 27.30, amid severe hard currency shortages exacerbated by a punishing drought that has triggered power cuts in the country, Reuters reported.
According to LSEG (...)
Shell has agreed to sell its refinery and petrochemical assets in Singapore to a joint venture of Chandra Asri Capital and Glencore Asian Holdings, Reuters reported on Wednesday.
The deal involves transferring Shell's interest in Shell Energy and (...)
Oil dropped to nearly their lowest level since mid-March, as attention turned to a somewhat bearish report on US oil inventories and tensions in the Middle East, Bloomberg reported on Wednesday.
Brent slid below $83 per barrel, hitting its lowest (...)
Egypt's stock market (EGX) closed red on Wednesday. The main index, EGX30 sunk by 1.67 per cent, to 25,988.93 points.
The small to mid-size enterprises' index, EGX70 dropped by 1.86 per cent, to 5,750.71 points.
The index, EGX100 index went down by (...)
Mastercard Inc. is teaming up with some of the largest US banks to explore shared-ledger technology, enabling the collective settlement of tokenised assets such as commercial-bank funds, Treasury securities, and investment-grade debt, Bloomberg (...)
Anfavea, the association representing automakers in Brazil, announced that new vehicle sales increased by 17.6 per cent in April compared to the previous month, totalling 220,842 units, according to Reuters citing the company's report.
Additionally, (...)
Baker Hughes, an energy technology company, is set to establish a new liquid mud plant and a separate assembly, maintenance, and repair facility at Walvis Bay in Namibia, according to Reuters. The move aims to meet the growing demands of offshore (...)
Maersk, the shipping giant, has boosted its projected annual profits following a robust in quarterly performance that surpassed expectations, Reuters reported on Thursday.
The company attributes the robust to buoyant demand for container shipping (...)
The Organisation for Economic Co-operation and Development (OECD) has maintained its growth projections for Indonesia's economy in its economic outlook released on Thursday.
The Paris-based organisation expects Indonesia to grow by 5.1 per cent in (...)
Venezuelan oil exports experienced a significant drop of 38 per cent in April, as tanker owners and clients withdrew several vessels awaiting loading from the country's waters in anticipation of the reimplementation of US sanctions, according to (...)
ExxonMobil's sale of Nigerian petroleum assets to Seplat, a Nigerian company, may receive approval within two weeks, according to the country's oil regulator speaking to Reuters on Thursday.
The $1.28 billion transaction, awaiting regulatory (...)
Oil partially recovered from its recent drop after a sharp decline on Wednesday driven by a significant increase in US crude inventories, raising concerns about weakening demand, Bloomberg reported.
In July, Brent traded below $84 per barrel (...)
Chubb, the insurer of Baltimore's Francis Scott Key Bridge, which collapsed in March, is preparing to issue a $350 million payout to the state of Maryland, as Rueters citing the Wall Street Journal on Thursday.
According to Henry Daar, head of (...)
Egypt's stock market (EGX) closed green on Thursday. The main index, EGX30 jumped by 3.34 per cent, to 26113.71 points.
The small to mid-size enterprises' index, EGX70 surged by 2.23 per cent, to 5,796.88 points.
The index, EGX100 index climbed by (...)
Saudi Arabia's real Gross Domestic Product (GDP) experienced a 1.8 per cent decline in the first quarter of 2024 when compared to the same period in 2023, according to preliminary data from the General Authority for Statistics (GASTAT).
As per the (...)
US Federal Reserve officials are set to wrap up their latest two-day policy meeting later on Wednesday (ET), featuring a fresh statement and insights from Federal Reserve Chair Jerome Powell, as per a Reuters report.
These could shed light on how (...)
Mexico's choice to impose tariffs on select goods imported from nations lacking trade agreements will affect roughly $48 billion of the country's imports, constituting around 7 per cent of the total imports of the country, a Finance Ministry source (...)
Shell has exited China's power markets as CEO Wael Sawan steers towards more profitable ventures, notably its natural gas and oil operations, Reuters reported on Wednesday.
The decision to exit the power value chain in China, encompassing power (...)
US liquefied natural gas (LNG) exports experienced their fourth consecutive decline in April, dropping to 6.19 million metric tons from March's 7.61 million, according to preliminary data from financial firm LSEG reported by Reuters on Wednesday. (...)