Inside China: New rules for fintechs by SBR’s Jeremy Stevens

Inside China: New rules for fintechs by SBR’s Jeremy Stevens

LAGOS (Capital Markets in Africa) – Policymakers in China are bringing technology firms into alignment with national priorities to ensure that policy intent is met, fostering innovation that serves the real economy and improves wellbeing, whilst preventing financial risks though prudent regulation. The implication is that central government has made a value judgement: only innovation that serves the real economy, and doesn’t compromise financial stability, will be provided pathways to flourish. However, given a choice…

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Covid-19 will end but workplace culture will never be the same

Covid-19 will end but workplace culture will never be the same

LAGOS (Capital Markets in Africa) – The onset of Covid-19 had organisations across the globe scrambling to find solutions to the sudden and widespread shift to remote work. More than a year later, it is clear that the pandemic has permanently influenced perceptions and the employee experience of workplace culture, says Reynhardt Uys, Chief Experience Officer, Immersion Group, a global team of experience design experts. According to Uys, organisations are looking for long-term solutions to…

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Time to be Small -Rupert Thompson, Chief Investment Officer at Kingswood

Time to be Small -Rupert Thompson, Chief Investment Officer at Kingswood

LONDON (Capital Markets in Africa) – Equity markets recovered some of their mojo last week. Global equities gained 2.0%-2.5% in sterling and local currency terms respectively and are now only 0.5%-1.0% below their mid-February peak. In the US, a number of equity indices have touched new all-time highs in recent days. The S&P 500, which is the benchmark generally used by professional investors and measures the performance of the largest 500 stocks, inched above its…

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The US Fed’s latest policy decision and ECB’s bond purchasing program

The US Fed’s latest policy decision and ECB’s bond purchasing program

Commenting on the US Fed’s latest policy decision, Toby Sturgeon, Global Head of Fiduciary Investment Services at ZEDRA, said: “Federal Reserve Chair Jerome Powell retained a dovish stance during the central bank’s latest policy decision. He reiterated that they would be carefully looking ahead to ensure there was tangible evidence the U.S. economy has fully recovered. Policymakers don’t anticipate an increase in interest rates at least until 2023. The S&P 500 rose to a record high and…

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Ghana’s Long Fiscal Consolidation Plan Has Slippage Risk

Ghana’s Long Fiscal Consolidation Plan Has Slippage Risk

ACCRA (Capital Markets in Africa) – The slow pace of the consolidation path outlined by Ghana’s 2021 budget statement, presented on 12 March, and by the accompanying medium-term fiscal framework leaves Ghana exposed to a heavy debt-service burden and risks of fiscal slippage, says Fitch Ratings. The path is supported by new revenue measures and the gradual implementation of expenditure cuts. We indicated that our assessment of the medium-term trajectory of public debt would be…

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Yields Have a Long Way to Go Before They Sting Yellen’s Treasury

Yields Have a Long Way to Go Before They Sting Yellen’s Treasury

LAGOS (Capital Markets in Africa) — As rising government bond yields stir up angst on financial markets, one person who sounds unfazed is U.S. Treasury Secretary Janet Yellen. Her own go-to measure of debt costs is headed in the opposite direction. Interest payments on the national debt fell last year, to $345 billion or 1.6% of gross domestic product. They’re on track to shrink further in 2021 — even after all the pandemic spending, plus a debt-market…

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CEOs Become Vaccine Activists as Back-to-Office Push Grows

CEOs Become Vaccine Activists as Back-to-Office Push Grows

LAGOS (Capital Markets in Africa) — Some chief executive officers are so eager for their employees to get vaccinated against Covid-19 that they’re granting workers time off or cash incentives to get shots. In the U.S., retailer Lidl is giving its staff $200, while Aldi, Dollar General Corp.and Trader Joe’s Co. are offering extra hours of pay. Online grocery delivery firm Instacart Inc. is providing a $25 stipend for workers and contractors. Yogurt makers Chobani LLC and Danone SA are offering as much as six hours of…

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