The Editorial Team |

Libya Oil Boss Sees Output Gain With Hope of BP Pumping Soon

TRIPOLI (Capital Markets in Africa) – Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping oil in the politically divided OPEC nation. The Sharara field in southern Libya is currently pumping 260,000 barrels a day, and the state-run National Oil Corp. is working to raise production, NOC Chairman Mustafa Sanalla told Bloomberg Television in an interview. Sharara resumed pumping…

London Leads Fall in Home Sales as Buyers Hold Breath for Brexit

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Asking prices for London homes fell this month as buyers hesitated on closing deals amid political turmoil over Brexit. Average values declined in March, slumping 1.1 percent from February to 607,557 pounds ($806,000), property-website Rightmove said in a report Monday. Asking prices in the capital dropped 3.8 percent from a year earlier with the number of sales agreed by real-estate agents 9.6 percent below the same period in 2018. London’s property…

Kenya Graft Probe of Treasury Head Highlights Power Struggle

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – A Kenyan inquiry into dam construction projects worth $650 million has placed Treasury Secretary Henry Rotich at the center of a power struggle, with critics demanding he resign. The investigation not only threatens to hamper President Uhuru Kenyatta’s $25 billion plan to expand infrastructure and boost the East African nation’s economy, but also unity in the ruling Jubilee party. The race to succeed Kenyatta when his term ends in 2022 has pitted…

Death Toll May Top 1,000 After Cyclone Hammers Mozambique

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – A tropical cyclone that tore across Mozambique at the weekend may have killed more than 1,000 people, President Filipe Nyusi said as heavy rains continued to pound neighboring Zimbabwe where flooding left dozens more dead. “It’s clear that the next few days could be worse,” Nyusi said in comments broadcast on state radio. “If more than 1,000 lives have been lost, we won’t be surprised.” Mozambique’s worst-recorded flooding occurred in 2000,…

Emerging Market ETFs See First Outflow in 22 Weeks on China

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Investors pulled money from emerging-market ETFs last week for the first time since October as disappointing data from China, the world’s second-largest economy, crimped the outlook for growth across Asia. After 21 weeks of inflows, money managers withdrew $108.6 million from U.S.-listed exchange-trade funds that invest across developing nations as well as those that target specific countries, according to data compiled by Bloomberg. The withdrawal trimmed this year’s inflows…

Brexit Ambiguity Leaves Southern African Trade Talks in Limbo

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The uncertainty surrounding the U.K.’s departure from the European Union has left trade negotiators from six Southern African nations pondering how their future ties with one of their largest trading partners will pan out. “Even if there is a deal, it will take months, if not years, to manage the administration around trade and tariffs,” South Africa’s Trade and Industry Minister Rob Davies told reporters in Cape Town on Monday. South…

Emerging Nations Plan Green Banks to Foot Climate Trillions

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The world needs a new model to channel private finance into emerging-nation clean projects and commercial banks are among those planning to help create it. Firms including Macquarie Group Ltd., HSBC Group Plc and Mizuho Financial Group Inc. are scheduled to participate in this week’s Green Bank Design Summit in Paris. They’re joining representatives of 24 developing countries accounting for almost half the world’s greenhouse gases that will be attending the…

« 1 … 345 346 347 348 349 … 1,077 »