MTN Returns to Profitability Ahead of Ghana and Nigeria Listing JSE-listed MTN on Thursday posted a turnaround in its earnings for the year ended December 31, with a full-year return to profitability after plunging into the red last year for the first time in its two-decade history. Reported headline earnings per share (HEPS) for the…
DetailsScramble for Cocoa Beans as European Spot Cocoa Premiums Widen Reuters reports that a scramble for quality cocoa has pushed prices of beans in Europe sharply higher and made the spot London futures contract suddenly more attractive to buyers, traders say. The price of cocoa beans from Ivory Coast and Ghana – the origins mostly…
DetailsSaudi Arabia’s ARAMCO Joins the Shale Revolution! Saudi Aramco, the world’s largest oil exporter, is set to join the shale revolution with plans to start producing unconventional natural gas this month and exploit a deposit that could rival the Eagle Ford formation in Texas. Saudi Arabia’s gas resources from shale and other alternative supplies are…
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Oil Price to Average $75 Per Barrel in 2019–BMI Research The price of Brent crude oil will average $75 per barrel next year, according to the latest forecast from oil and gas analysts at BMI Research. BMI’s forecast is significantly higher than the Bloomberg consensus, which forecasts that Brent will average $63.5 per barrel…
DetailsEncouraging data give weight to Finance Minister Nhlanhla Nene’s statements on South Africa’s growth forecasts Economic growth accelerated for the first time in four years in 2017, with continued strong recovery in agriculture, giving weight to Finance Minister Nhlanhla Nene’s statements that growth forecasts will probably be revised upwards. Revisions to historical data in combination…
Details‘Stop Trump From Triggering Global Trade Wars and a Deep Recession’–WTO Chief The head of the World Trade Organization (WTO) told member states on Monday they must prevent “the fall of the first dominoes” in a trade war and warned of a real risk of triggering an escalation of global trade barriers and a deep…
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African Mining Still Wracked by Trust Deficit Between Miners and Host-Govts/Communities The conclusion of the eighth MineAfrica panel discussion at the Prospectors and Developers Association of Canada conference on Sunday was that “endemic mistrust between private sector miners and African jurisdictions belies the spirit and objectives set out in the African Union’s African Mining Vision.” According…
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by Ore-Oluwa Runsewe “There is a time when the operation of the machine becomes so odious, makes you so sick at heart, that you can’t take part. You can’t even passively take part! And you’ve got to put your bodies upon the gears and upon the wheels, upon the levers, upon all the apparatus, and…
DetailsPolitical Instability Rising in Several Oil, Gas Producing Countries Government instability is set to rise over the next 3 years in oil and gas producing countries including Russia, Kazakhstan, Egypt, Kenya and Uganda, a new report highlights. Government instability is set to rise over the next three years in oil and gas producing countries including…
DetailsGold Tumbles, Then Rebounds as Other Commodities Crash on Trump’s Tariffs Gold was flat on Friday while silver, copper and oil all fell on the back of the Trump administration’s tariffs announcement. The gold price rebounded on Friday (March 2) after Thursday (March 1) saw the yellow metal record its first monthly loss since October. The precious…
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