Newscast - Africa

The European Union says companies can keep buying gas without breaching sanctions, as it softened its stance in a standoff with Moscow over energy supplies.
The European Commission in its revised guidelines to member states said companies should make a clear statement that they consider their obligations fulfilled once they pay in euros or dollars.
The Commission says EU sanctions do not prevent economic operators from opening a bank account in a designated bank for payments due under contracts for the supply of natural gas in a gaseous state, in the currency specified in those contracts.

Renault has announced it is selling its majority stake in Russian carmaker Avtovaz, following pressure over its continued presence in the country.
The French carmaker says it would sell its 68% interest to a Russian science institute, while its shares in Renault Russia will go to the city of Moscow.
Russian Industry and Trade Minister Denis Manturov say Renault planned to sell its Russian assets for one symbolic rouble.
Renault Group said its board of directors had approved agreements to sell Renault Russia to the Moscow city entity, as well as its 67.69% stake in Avtovaz to the Russian Central Research and Development Automobile and Engine Institute.
The deal also included Renault's Moscow plant, Avtoframos, which makes Renault and Nissan models.

The European Commission sharply cut its eurozone growth forecast for 2022 to 2.7 per cent, blaming skyrocketing energy prices caused by Russia’s invasion of Ukraine.
EU executive vice president Valdis Dombrovskis says there is no doubt that the EU economy is going through a challenging period due to Russia’s war against Ukraine, and they have downgraded the forecast accordingly.
The EU warned that the course of the war was highly uncertain and that the risk of stagflation punishing inflation with little or no growth remained a real risk going forward.

Washington’s top diplomat to the United Nations says the United States hopes India will reverse its ban on wheat exports, warning the move would worsen global shortages of the commodity.
Linda Thomas-Greenfield says they are encouraging countries not to restrict exports because we think any restrictions on exports will exacerbate the food shortages.
Thomas-Greenfield says they hope that India can, as they hear the concerns being raised by other countries, they would reconsider that position.

United States Treasury Secretary Janet Yellen met with Ukrainian refugees and stressed the need to confront Russian brutality as she visited Poland ahead of a meeting of finance ministers for the Group of Seven leading economies.
Yellen applauded Poland for helping refugees fleeing the fighting and for working with neighbouring countries to find ways to get Ukraine’s wheat and other critical food supplies to the world.
She thanked the Polish for responding to rising food insecurity exacerbated by the war.

Lesotho’s National Assembly has approved a new law aimed at combating cybercrimes.
Lesotho’s Communications, Science and Technology Minister, Sam Rapapa, Mr Rapapa says the increasing migration of work to digital platforms called for protection against cyber-attacks.
Mr Rapapa indicated that Lesotho was yet to develop cybercrime combatting strategies and policies.
He says it is worth noting that Lesotho is yet to work on a cyber security strategy or policy, incident management capabilities adding that there is a limited number of knowledgeable people in cyber security issues including government institutions.

President Joe Biden approved the deployment of several hundred US troops returning to Somalia reversing a decision by his predecessor, Donald Trump.
The president has also signed off on a request from the Pentagon to target suspected leaders of the al-Shabab militant group.
National Security Council spokeswoman Adrienne Watson says the decision to reintroduce a persistent presence was made to maximise the safety and effectiveness of our forces and enable them to provide more efficient support to our partners.

Guinea-Bissau's President Umaro Sissoco Embaló has dissolved the parliament, three months after he had said he had survived a coup attempt.
He accused the lawmakers of corruption and also cited persistent and unresolved differences with parliament.
Mr Embaló dismissed the government but kept both the prime minister and his deputy in place in order to keep things running until the next legislative elections.
He says Guineans will be given the right to freely choose at the ballot box the parliament they wish to have.

The Reserve Bank of Zimbabwe has banned third country foreign payments, except for fuel, in measures to facilitate critical transactions to keep the economy going smoothly and encourage the remittance of export proceeds back to the country.
The apex bank-issued payment exemption guidelines on offshore drawdowns relating to the financing of payments for marketable commodities such as tobacco and cotton.
Economists believe policy measures reflect a case-by-case enhancement and refinement by the Government, through the RBZ, of measures aimed at eliminating the malfeasance in the economy.

The Airlines Operators of Nigeria have warned that the flight operations of its members may experience disruptions due to a growing scarcity of aviation fuel.
The AON’s spokesperson Prof. Obiora Okonkwo, says the scarcity is impacting negatively on the seamless conduct of air transport operations and would lead to flight rescheduling, and, or, cancellations.
The operators, however, say they are working very hard, and in alliance with product marketers, government and relevant stakeholders, to ensure the availability and proper pricing of aviation fuel in the country.