Wall Street Is Amassing a Crypto Army and Paying Up for Recruits

Wall Street Is Amassing a Crypto Army and Paying Up for Recruits

LAGOS (Capital Markets in Africa) – Wall Street leaders turned up their noses when Bitcoin exploded onto the scene more than a decade ago. Now they’re paying sweet premiums to crypto recruits, amassing an army of enthusiasts within the traditionally staid realm. Some of the biggest banks and financial firms have added about 1,000 crypto-related roles since 2018, according to Revelio Labs, which collects data by scraping LinkedIn. Among those hiring the most are JPMorgan Chase…

Read More

Crypto Advocates Call for Clarity Amid Climate Summit

Crypto Advocates Call for Clarity Amid Climate Summit

LAGOS (Capital Markets in Africa) – Digital-asset companies are pushing back against claims of excessive energy usage in the cryptocurrency sector as world leaders flock to Glasgow this week for key climate change talks.     Global Digital Finance, whose members include industry juggernauts BitMEX, Coinbase Global Inc. and Crypto.com called for greater data transparency around issues of sustainability. The group published a report on Monday in an effort to set industrywide environmental goals amid…

Read More

The Shift From Eurodollar to SOFR: Everything You Need To Know

The Shift From Eurodollar to SOFR: Everything You Need To Know

LAGOS (Capital Markets in Africa) – The pace of transition in futures and options markets has sped up with total Secured Overnight Financing Rate (SOFR) exposure beyond 2023 rising quickly. The pace of the transition to the new U.S. interest rate benchmark, the Secured Overnight Financing Rate (SOFR), has picked up dramatically in recent months, with the additional impetus coming from July’s successful launch of the SOFR First initiative by U.S. regulator the Commodity Futures…

Read More

South African Ruling Party Faces Key Test in Municipal Vote

South African Ruling Party Faces Key Test in Municipal Vote

JOHANNESBURG (Capital Markets in Africa) – South Africa’s ruling party faces an uphill battle to regain control of key towns in Monday’s municipal elections, with widespread outrage over poor services and crumbling infrastructure. The election of councilors in the 278 municipalities is the first since President Cyril Ramaphosa won control of the African National Congress in 2017 and set about trying to rebuild support for the party, which plummeted during his predecessor Jacob Zuma’s scandal-marred rule.Opposition party coalitions…

Read More

Total’s Uganda Project to Help Create New Africa Oil Hub by 2025

Total’s Uganda Project to Help Create New Africa Oil Hub by 2025

KAMPALA (Capital Markets in Africa) – Ugandan President Yoweri Museveni is counting on TotalEnergies SE and Cnooc Ltd. to produce oil from its fields in four years, laying the foundation for a new regional fuel hub. The East African nation expects to reach daily output of 230,000 barrels. While that’s much less than what Africa’s biggest producer, Nigeria, pumps, it will make Uganda bigger than some OPEC members on the continent. Output starting by 2025 was…

Read More

Chinese Market Is What Africa Needs Next, Says Uganda Leader

Chinese Market Is What Africa Needs Next, Says Uganda Leader

LAGOS (Capital Markets in Africa) – China needs to give U.S. or European-style market access to Africa as the next step in fostering a strong economic relationship, Ugandan President Yoweri Museveni said. As African nations push for the extension beyond 2025 of the African Growth and Opportunity Act that allows duty-free access to the U.S. market, Museveni wants China to offer something similar. That or a deal mirroring Europe’s Everything But Arms arrangement for least…

Read More

Nigeria Backs Saudi Arabia With Call for OPEC+ to Stay Cautious

Nigeria Backs Saudi Arabia With Call for OPEC+ to Stay Cautious

LAGOS (Capital Markets in Africa) – Nigeria joined fellow OPEC+ member Saudi Arabia in saying the group must resist pressure to raise oil production faster until the coronavirus pandemic abates. The 23-nation cartel shouldn’t yet change its strategy of increasing daily crude output by 400,000 barrels a month, according to Minister of State for Petroleum Resources Timipre Sylva. The Organization of Petroleum Exporting Countries and allies including Russia next meet on Nov. 4. With oil soaring…

Read More
1 52 53 54 55 56 1,066