The Editorial Team |

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…

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

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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…

Goldman Pandemic Loans Spur Scrutiny From Senate’s Brown, Warren

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LAGOS (Capital Markets in Africa) — The Senate Banking Committee is questioning whether Goldman Sachs Group Inc. paid dividends at the expense of lending to businesses and households during the pandemic as lawmakers take a broad look at the support big banks offered clients to get through the economic slump. Committee Chairman Sherrod Brown and fellow Democrat Elizabeth Warren sent Goldman Chief Executive Officer David Solomon a letter late last week, asking how its banking…

What’s India’s Beef With Bitcoin, Really?: Andy Mukherjee

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LAGOS (Capital Markets in Africa) — Contradictory statements and media leaks are making it impossible to get a handle on India’s soon-to-be-unveiled cryptocurrency policy. The uncertainty is throwing young blockchain firms and programmers into a paroxysm of anxiety: Should they leave or stay? If they hang back, should they do something else with their lives? On Sunday, the global crypto industry heaved a sigh of relief when Finance Minister Nirmala Sitharaman categorically ruled out a…

Bitcoin Steadies Near $56,000 After Weekend Rally Evaporates

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LAGOS (Capital Markets in Africa) — Bitcoin has given up all the gains made over the weekend when prices reached a record $61,000. Prices for the largest cryptocurrency shot up on Saturday, only to quickly retreat in the following days. The largest cryptocurrency sank almost 7% on Monday and was little changed on Tuesday, trading around $55,900 during the London morning. The volatility is due to investors taking some profit after Bitcoin’s recent run, said Vijay Ayyar, head…

Court Orders Maduro Financier Be Released by Cape Verde

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LAGOS(Capital Markets in Africa) — A West African court ordered Cape Verde’s government to free Alex Saab, a Colombian businessman close to Venezuelan President Nicolas Maduro, and halt plans to have him extradited to the U.S. The Economic Community of West African States Court of Justice found the authorities on the Atlantic Ocean island nation carried out Saab’s arrest before a so-called Red Notice had been issued by Interpol. “We found his arrest by the…

Kenyan Treasury Allays Fears of Losing Port Over China Rail Loan

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NAIROBI (Capital Markets in Africa) — Kenya’s National Treasury moved to allay fears that the nation could lose ownership of its busiest seaport in case of failure to repay a loan from China to build a railway. “There is absolutely no risk of China or any other country taking over the Port of Mombasa,” Treasury Secretary Ukur Yatani said in a statement Monday. The government “cannot and has not pledged public assets as security for…

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