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Thursday, 9th April 2020
3:25:18am

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S.Africa pumps-up liquidity, mulls shorter trade hours to ease coronavirus strain

South Africa’s central bank announced a raft of emergency liquidity measures on Friday to ease the stress on banks caused by the coronavirus outbreak, while the stock exchange regulator may take its own steps as surging volatility tests financial stability.

The head of the Johannesburg Stock Exchange (JSE), which is Africa’s biggest and one of…

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Egypt shuts mosques and churches over coronavirus fears

Egypt on Saturday ordered mosques and churches to shut their doors to worshippers in an effort to curb the spread of the coronavirus, after calls for the government to follow steps taken by neighbouring countries.

The North African country reported nine new coronavirus cases and two fatalities on Saturday, the health ministry said in a statement,…

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Mining Company Katanga sues China MMG's Kinsevere mine in Congo

China’s MMG Ltd on Monday said Mining Company Katanga (MCK) has obtained a freezing court order over some assets of its Kinsevere copper mine in Democratic Republic of Congo and is seeking damages of $258 million over a mining services contract.

MCK has commenced legal proceedings as it claims MMG Kinsevere is liable to compensate it for losses as…

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Angola, Eritrea, Uganda confirm first cases as coronavirus spreads in Africa

Angola, Eritrea and Uganda confirmed their first cases of coronavirus, while Mauritius recorded its first death as the virus spreads across Africa despite measures by governments to hold it back.

Two male residents who flew back from Portugal on March 17-18 have tested positive, Angolan Health Minister Silvia Lutucuta said on Saturday, while…

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Coronavirus, gas slump put brakes on Exxon's giant Mozambique LNG plan

Exxon Mobil is likely to delay the greenlighting of its $30 billion liquefied natural gas (LNG) project in Mozambique as the coronavirus disrupts early works and a depressed gas market makes investors wary, six sources told Reuters.

Top U.S. oil and gas company Exxon said on Tuesday it was evaluating “significant” cuts to capital spending and…

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