The Editorial Team |

Americans Will Inherit $764 Billion This Year, Mostly Tax-Free

NEW YORK (Capital Markets in Africa) – One way the rich get richer is through inheritance, and they’re barely paying taxes on it. Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published Tuesday by the Brookings Institution. By contrast, the estimated tax on work and savings is 15.8%, more than seven times higher. Many higher-income…

FedEx’s Smith Promises 2020 Rebound Will Prove Him Right Again

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – FedEx Corp. founder Fred Smith, nearing the end of a legendary career, says he’s going to prove himself right one more time. Best known for disrupting the parcel delivery business by introducing overnight service, Smith is now getting disrupted by e-commerce and the rise of online shopping. He’s taking a pounding from Wall Street for FedEx’s disappointing performance, while analysts praise archrival United Parcel Service Inc. for reversing a…

Trump Lawyers Enter Final Day After Skirting Bolton Bombshell

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – President Donald Trump’s lawyers begin their final day of arguments Tuesday having only barely noted the bombshell revelation from former National Security Adviser John Bolton that threatens to upset White House plans for a quick end to the Senate impeachment trial. Trump’s defense team will wrap up their case on Tuesday, followed by hours of questions from senators. Then will come what promises to be a dramatic debate and a moment of reckoning…

The African Renewable Energy Revolution

Posted on by The Editorial Team

Johannesburg, 28 January 2020; Africa’s abundant clean energy resources, coupled with new investments in renewable energy technologies, have spearheaded Africa into a clean energy revolution. As reported by the International Energy Agency (IEA), renewable energy is believed to constitute approximately 50% of sub-Saharan Africa’s power generation growth by 2040, consequently accelerating Africa’s novice economies. Receiving more sun than any of its continental counterparts, along with its vast geothermal, wind and wave energy capacity and progressive energy…

Republic of Congo’s Debt May Be Much Higher Than Estimated

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – The Republic of Congo’s public debt may exceed $12.5 billion, more than a third higher than previous International Monetary Fund estimates, corruption watchdog Global Witness said. The debt could further complicate Congo’s three-year, $449 million loan program it began with the IMF in July. The Washington-based lender has already postponed its first review of the program while Congo restructures external commercial debt, an IMF spokesman said by email Friday…

Gabon Set to Test Demand for African High-Yield Dollar Debt

Posted on by The Editorial Team

GABON (Capital Markets in Africa) – Gabon is starting investor meetings Monday for a planned Eurobond sale that will test demand for hard-currency debt from one of the lowest-rated issuers in the region. The sale comes amid record debt sales by emerging-market borrowers this year as a lull in trade tensions and a rally in U.S. Treasuries spur demand for higher-yielding assets. Average yields on Eurobonds from sub-Saharan Africa are 2.5 percentage points higher than the emerging-market average, promising potentially juicy…

Kenya Central Bank Follows South Africa With a Surprise Rate Cut

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa): Kenya’s central bank joined its South African counterpart by unexpectedly cutting interest rates, citing well-anchored inflation expectations and an economy that’s operating below its potential. The monetary policy committee reduced its key rate to 8.25% from 8.5%, Governor Patrick Njoroge said in an emailed statement on Monday. That’s the second consecutive cut and moves the rate to the lowest in more than eight years. All three economists surveyed by Bloomberg said it…

« 1 … 221 222 223 224 225 … 1,077 »