The Editorial Team |

There Are Oil Bargains in Asia After Virus Batters Demand

LAGOS (Capital Markets in Africa) – Oil sellers are looking for alternative buyers in Asia for prompt cargoes as Chinese demand dries up because of the coronavirus and some customers ask to defer purchases. The suppliers — including oil majors and trading houses — are offering grades including Russia’s ESPO, Basrah Light from Iraq and Brazilian Lula for delivery in just a few weeks’ time, according to traders in Asia with knowledge of the matter….

Profit Boon Makes Egypt’s Banks Ripe for M&A. But Who’s Selling?

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CAIRO (Capital Markets in Africa) – A profit bonanza for Egyptian banks is ripening the industry for acquisitions. If only there were more willing sellers. One buyer found a way in. First Abu Dhabi Bank PSJC is in talks for the Cairo-based unit of Lebanon’s Bank Audi SAL, which needs cash to cope with an economic crisis back home. The bid is the first for an Egyptian bank by a Gulf lender in seven years, as companies…

What Does Boris Johnson Really Think About Climate Change?

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LONDON (Capital Markets in Africa) – While his inner circle is full of activists, his past statements are all over the place. U.K. Prime Minister Boris Johnson stood next to legendary wildlife filmmaker David Attenborough on Tuesday at a press conference for the COP26 United Nations climate conference set for Glasgow in December. He said urgent action is needed to fight global warming and called for an international effort to solve the problem. Then, as he was leaving the…

Trump Set for Acquittal With Democrats Second-Guessing Strategy

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NEW YORK (Capital Markets in Africa) – President Donald Trump’s inevitable acquittal in the Senate’s impeachment trial on Wednesday has some House Democrats fretting that they should have delivered a more complete case to argue for his removal. Trump is emerging from the two-week Senate trial looking as strong as ever, barely wounded by the relentless details of his efforts to force Ukraine to investigate one of his main political rivals. Instead, the Republican base appears…

Casper’s Shrunken IPO Is Set to Test Appetite for 2020 Hopefuls

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NEW YORK (Capital Markets in Africa) – The year’s first fallen unicorn is about to test public markets’ appetite for unprofitable start-ups, and so far it’s not looking like a positive bellwether for the class of 2020. Mattress retailer Casper Sleep Inc. is planning to cut the target price range for its Wednesday initial public offering, people familiar with the matter said, shrinking its potential market value to well below the $1.1 billion valuations it…

Buttigieg Leads in Iowa Caucuses as Delayed Results Unfold

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NEW YORK (Capital Markets in Africa) – Pete Buttigieg maintained his lead in the Iowa caucuses after the second tranche of results was released on Tuesday, cementing his status as a credible contender after an extraordinary rise from the little-known mayor of a small Indiana city to the top tier of the presidential race. With 71% of precincts reporting, Bernie Sanders was a close second with his promises to deliver Medicare for All and lead a political…

Trump Avoids Impeachment in Speech, but Pelosi Tension Is Plain

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NEW YORK (Capital Markets in Africa) – Donald Trump didn’t mention impeachment in his State of the Union address, but the partisan tension gripping the Capitol was made plain in the evening’s two enduring images. The president turned his back on Nancy Pelosi’s outstretched hand as he assumed the dais, and the House Speaker then ripped her copy of his speech in two after he concluded his remarks. The dueling displays of rancor overshadowed an address the…

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