Uncategorized |

Tesla Rushes Model 3s to China Before Trade-War Truce Expires

LAGOS (Capital Markets in Africa) – At least three ships roughly the length of two football fields are slated to arrive at ports in China by the end of this month, each carrying precious cargo from Elon Musk. Tesla Inc. is loading as many Model 3 sedans as it can onto vessels destined for the People’s Republic ahead of March 1, when a trade-war truce between presidents Donald Trump and Xi Jinping is scheduled to expire. Musk fears the two countries…

Deutsche Bank Taps Cerberus to Help Squeeze More From Cash Pile

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Deutsche Bank AG, running out of time to restore revenue growth, is getting a little help from its friends at Cerberus Capital Management. Germany’s largest bank on Friday confirmed that Cerberus, one of its top shareholders and an adviser through a separate unit, has been helping manage its cash reserves more profitably, a story reported earlier by Bloomberg. That’s already bearing fruit and could add 300 million euros ($344 million)…

Why Are So Many African Leaders Shutting Off the Internet in 2019?

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) — Last week, Zimbabwe’s High Court ordered Internet operators to restore the Internet, which they had shut down for a week. President Emmerson Mnangagwa’s officials ordered the shutdown after mass protests against fuel price hikes — from less than $3 per gallon to almost $12 a gallon — rocked Zimbabwe for weeks, aiming to prevent protesters from coordinating their actions and sharing information. Protesters argued that the shutdown’s goal was…

Goldman Cheers as Rand Heads for Best-Ever Start to a Year

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The rand’s flying start to 2019 may be just the beginning, according to Goldman Sachs Group Inc. The South African currency is heading for its biggest January gain against the dollar since Bloomberg started compiling the data in 1999. And with expected volatility near an eight-month low, traders are discounting local stumbling blocks in coming months, including a budget speech, ratings review and election. The rand has been buoyed by a more dovish Federal Reserve…

Congo President-Elect Strikes a Conciliatory Tone After Win

Posted on by The Editorial Team

KINSHASA (capital Markets in Africa) – The Democratic Republic of Congo’s incoming president, Felix Tshisekedi, will work with his predecessor to foster reconciliation and accelerate development in the poverty-stricken nation, his party said. Tshisekedi, 55, became the first opposition leader to win an election in the cobalt- and copper-rich country when electoral authorities on Thursday declared him the victor of a Dec. 30 vote. Rival candidate Martin Fayulu, who was backed by two of outgoing President Joseph Kabila’s…

Sonia Gets Clean Sweep in 2019 Sterling Bonds as Libor Fades

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – U.K. regulators are seeing some success as they try to shift the sterling bond market away from scandal-hit Libor. Five all-new floating-rate pound notes have come to market this year, and all of them have been tied to the Sterling Overnight Interbank Average rather than Libor. FMS Wertmanagement, Lloyds Banking Group Plc and International Finance Corp were the latest names to join the offering list. The five deals, totaling at least 3.5 billion pounds…

IMF Boss Lagarde Urges South Africa to Shield Institutions

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa should “never be complacent” about protecting key institutions such as the central bank or National Treasury as it tries to boost economic growth, International Monetary Fund Managing Director Christine Lagarde said. The rise of populism in developed economies has brought with it a wave of attacks on central banks in the U.S., U.K., Europe and South Africa, where Governor Lesetja Kganyago successfully fought off a proposal by the nation’s…

« 1 … 6 7 8 9 10 … 19 »