The Editorial Team |

Trump Seeks to Enlist Fed in His Trade Fight Against China

NEW YORK (Capital Markets in Africa) – President Donald Trump pushed the Federal Reserve to “match” what he said China would do to offset economic hardship being caused by tariffs as he sought to draft the U.S. central bank into his simmering trade war. “China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing,” the president said in…

U.S. Readies New Tariffs as Trump Says He’ll Meet China’s Xi

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – The U.S. prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s G-20 summit, an encounter that could prove pivotal in a deepening clash over trade. The U.S. Trade Representative’s office Monday released a list of about $300 billion worth of Chinese goods including children’s clothing, toys, mobile phones and laptops that Trump has threatened to hit with a 25%…

Ghana’s Biggest Cocoa Buyer Seeks $100 Million Amid Bond Default

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – PBC Ltd., Ghana’s biggest cocoa buyer, seeks to raise $100 million from international banks to help pay off cedi debt that matured late December. The transaction, handled by an Accra-based advisory firm, should be completed before the start of the main harvest on Oct. 1, said Deputy Chief Executive Officer Kojo Safo. The company has approached the state-run pension fund and the government, who together own a 75 percent…

Chad Suspends Import Taxes on Food to Avoid Sudan-Style Protests

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Chad scrapped import taxes on staple foods to quell growing anger about rising food prices, a month after protests in neighboring Sudan over high costs of living forced President Omar al-Bashir to step down. The decision comes amid regular, days-long power outages in the capital, N’Djamena, and after almost four months of an acute cooking-gas shortage that forced the poorest residents to use cow dung as fuel. Last year,…

Assange Rape Probe Reopened, Complicating U.S. Extradition

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Swedish prosecutors will reopen a probe into rape allegations against Julian Assange, potentially derailing U.S. attempts to extradite the WikiLeaks founder for hacking military computers and distributing secrets. Authorities want to question Assange over nine-year-old accusations that were shelved when he skipped bail and sought refuge in the Ecuadorian embassy in London. Sweden’s interest opens a legal dilemma for Britain, which is also considering his extradition to the U.S. “There…

London Housing Is Taking the Hardest Brexit Hit, Acadata Says

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – London’s property market is continuing to bear the brunt of Brexit malaise, according to a report from Acadata. House prices in the capital fell by 1.1% in April from a year earlier, the reportshowed. Nationally, they rose 0.2% in the period, to an average 302,122 pounds ($393,332). The number of property sales tell a similar story, At the national level, an increase over the past year, along with an uptick in first-time…

What to Watch as Nigeria’s Divisive Central Banker Gets New Term

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Godwin Emefiele looks set to get a second term as Nigeria’s central bank governor, which would make him the first person to do so in the 20 years since Africa’s biggest oil producer ended military rule. The 57-year-old former banking executive proved controversial in his first five years as monetary chief. Many analysts criticized his desire to keep a strong currency and curb imports, saying it deterred foreign investment and slowed Nigeria’s economic recovery…

« 1 … 311 312 313 314 315 … 1,075 »