ConocoPhillips more than doubled its third-quarter profit to $4 billion and raised its quarterly dividend by 11% on Thursday, joining a growing list of oil majors reporting enormous earnings gains as higher crude prices offset production disruptions caused by the Iran war. The Houston-based producer reported adjusted earnings of $3.27 per share, comfortably beating Wall […]
The currencies of Uganda and Nigeria are expected to strengthen against the dollar in the next week to Thursday, while those of Ghana and Kenya should be little changed and Zambia’s may weaken, traders said. Uganda Uganda’s shilling is seen trading with a firming tone, as some traders expect another hike in the central bank’s […]
Lee Group Unveils $1.8bn Industrial Park in Ogun, Targets 29 Factories, 2,500 Jobs, Abiodun to perform groundbreaking Lee Group of Companies Ltd is developing a $1.8 billion industrial park along the Lagos-Ibadan Expressway in Ogun State, with plans to accommodate more than 29 manufacturing factories and generate over 2,500 direct and indirect jobs. The 450-hectare […]
Prime Minister Narendra Modi and Russian President Vladimir Putin have instructed their governments to deepen bilateral cooperation as the two countries work towards increasing trade to USD 100 billion by 2030, Ambassador Vinay Kumar has said. In an interview with Russian news agency TASS published on Saturday, Indian envoy Kumar said the two leaders discussed […]
Chinese officials called on the U.S. Saturday to reconsider its proposed rule seeking to further restrict American investments into its tech industry, saying the move would disrupt trade relations between the two countries. On Thursday, the Treasury Department proposed a rule expanding existing restrictions in the Outbound Investment Security Program (OISP) on hypersonic systems, quantum […]
Citi said on Friday it has received approval from Chinese regulators to set up a wholly owned securities company in the world’s second largest economy, just about one month after Chinese leader Xi Jinping met President Donald Trump in Washington to keep U.S.-China ties stable. The approval, which was also announced on the same day […]
The Ibovespa index hit a record high of almost 210,000 points after Sunday’s presidential election, which heads to a run-off in three weeks. Flavio Bolsonaro secured 47 percent of the vote, ahead of leftist Lula’s 45 percent. Lula now faces a tough path to a fourth term in office in the October 25 run-off election. […]
Angola has invited Namibia to acquire an equity stake in its planned 200,000 barrels per day (bpd) Lobito oil refinery, offering its southern neighbour a potential role in a major downstream energy project designed to reduce fuel imports and supply regional markets. President João Lourenço made the proposal on October 19 during talks in Luanda […]
China said Monday its economy grew 4.5% in the July-September quarter from a year ago fueled by robust exports, moving closer to meeting its official annual growth target for the year as trading partners seek to balance their trade deficits with the country. Economic growth accelerated from the 4.3% year-on-year rate recorded in the April-June […]
Two Greenpeace activists were arrested in Australia after they caused a halt in operations at Woodside Energy’s Scarborough LNG platform, off the coast of Western Australia. The two were charged with “interfering with offshore petroleum installations or operations”, the local authorities said in a statement as cited by ABC. The maximum penalty for that charge […]