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The Star
3 days ago
- Business
- The Star
Angola fuel hike protests turn violent, local media report
LUANDA (Reuters) -Protests in Angola's capital over a hike in the price of diesel turned violent on Monday, with local media reporting that several people had been killed and many arrested following looting incidents and clashes with police. The Southern African oil-producing country hiked the diesel price by one-third this month as part of a long-running government drive to curb costly subsidies and shore up public finances. Minibus taxi associations have hiked fares by up to 50% and went on a three-day strike starting Monday. The Novo Jornal newspaper reported on its website that at least three people had been killed in the protests, including a police officer. The police used tear gas and smoke grenades, also firing shots into the air to try to restore calm, Novo Jornal said. The police said in a statement that shops in the capital Luanda had been looted. The statement said police had made arrests but did not give the number. Angola's finance minister told Reuters in October that fuel subsidies amounted to around 4% of economic output last year and that the government would continue removing them in phases. A petrol price hike in 2023 also triggered deadly protests. (Reporting by Miguel Gomes;Writing by Alexander Winning; Editing by Chizu Nomiyama )
Zawya
12-06-2025
- Business
- Zawya
Kenya finance minister says economy expected to grow 5.3% in 2025 and 2026
Kenya's economy is expected to grow 5.3% in both 2025 and 2026, the East African nation's finance minister said in a budget speech on Thursday. (Reporting by George Obulutsa; Writing by Bate Felix; Editing by Alexander Winning)
Zawya
10-06-2025
- Business
- Zawya
Kenya central bank cuts main lending rate to 9.75%
Kenya's central bank cut its benchmark lending rate to 9.75% on Tuesday from 10.00% previously, the bank's Monetary Policy Committee said. It was the sixth monetary policy meeting in a row that the Central Bank of Kenya has lowered the rate. "There was scope for a further easing of the monetary policy stance to augment the previous policy actions aimed at stimulating lending by banks to the private sector and supporting economic activity," the bank said in a statement. Economists polled by Reuters had been divided on what the central bank's decision would be. Out of seven forecasts three were for a cut, three for no change in the policy rate and one for a hike. (Reporting by George Obulutsa; Editing by Alexander Winning)
Zawya
30-05-2025
- Business
- Zawya
Ethiopia, IMF staff agree programme review that could unlock $260mln
Ethiopia and the International Monetary Fund have reached a staff-level agreement on the third review of the country's $3.4 billion loan programme from the lender, the Fund said on Friday. Once approved by the IMF's Executive Board, Ethiopia will gain access to another $260 million in financing. "The (Ethiopian) authorities' policy actions in the first year of the programme have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption," the IMF statement said. "Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports and international reserves." (Reporting by Alexander Winning; Editing by Hugh Lawson)
Reuters
06-05-2025
- Business
- Reuters
Kenyan shilling steady, supported by remittances
Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File photo Purchase Licensing Rights , opens new tab NAIROBI, May 6 (Reuters) - The Kenyan shilling was steady on Tuesday, supported by remittances and muted foreign-currency demand, traders said. As of 0935 GMT the shilling was trading at 129.00/50 to the U.S. currency, the same level as at the close of Monday's session, London Stock Exchange Group data showed. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reporting by Hereward Holland; Editing by Alexander Winning Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
