The Editorial Team |

Senegal’s Macky Sall Wins Second Term With Outright Majority

DARKA (Capital Markets in Africa) – Senegalese President Macky Sall won a decisive majority in elections after overseeing years of high economic growth and the construction of modern infrastructure, extending his term of office by five years. Sall, a 57-year-old former geological engineer, won 58 percent of the votes, well above the 50 percent needed to avoid a second round, according to results announced by the National Vote Counting Commission on Thursday. The outcome gives Sall a…

Brexit Lawsuits Have London Courts Racing Against the Clock

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LONDON (Capital Markets in Africa) – Britain’s judges have gotten used to lawsuits from remain supporters trying to frustrate Brexit, with varying degrees of success. Now, with Brexit potentially just weeks away, they’re grappling with a new breed of cases, from companies that need urgent decisions on the consequences of the split. Lawsuits that need to be heard before the U.K. leaves the European Union have been hurtling through the courts. The latest is a trial starting Fridayover…

U.S. Said to Ready Final China Trade Deal as Hawks Urge Caution

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LAGOS (Capital Markets in Africa) – U.S. officials are preparing a final trade deal that President Donald Trump and his Chinese counterpart Xi Jinping could sign in weeks, people familiar with the matter said, even as a debate continues in Washington over whether to push Beijing for more concessions. The U.S. is eyeing a summit between the two presidents as soon as mid-March, said one of the people, who spoke on condition of anonymity because the preparations are confidential….

How Theresa May Might Just Pull It Off: This Is the Brexit Math

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LONDON (Capital Markets in Africa) – With a month to go until Britain is due to leave the European Union, Theresa May is facing an apparently impossible task as she tries to get her Brexit deal approved by Parliament. Can the prime minister somehow defy the odds and deliver Brexit on time? Negotiations are still ongoing in Brussels, with U.K. Attorney General Geoffrey Cox looking for a way around the problem of the contentious Irish backstop. May’s spokesman said…

HSBC’s New Boss Faces Challenges From China and Brexit

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LONDON (Capital Markets in Africa) – John Flint, a lifer who rose to the top job at HSBC Holdings Plc in 2018, inherited an institution that had already seen shake-ups. In the previous seven years, 60,000 jobs had been eliminated and operations in 21 countries were sold, closed, or shrunk. Even so, the same core problem remains in the 67 countries where HSBC still does business: Costs are too high and revenue isn’t increasing fast enough. Profit in…

Turkey Said to Reject Latest U.S. Offer to Sell Patriot Missiles

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LONDON (Capital Markets in Africa) – Turkey has rejected a U.S. proposal to deliver one Patriot missile defense system by the end of 2019, which was conditional on Ankara abandoning a deal with Russia that’s strained ties between the NATO allies, two senior officials said on Friday. The U.S. administration made its offer before Feb. 15, and then increased the price of the multi-billion dollar system in return for quick delivery, according to the officials who are familiar…

Nigeria Complied With OPEC+ Cuts in February, Kachikwu Says

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LAGOS (Capital Markets in Africa) – Nigeria implemented its portion of the OPEC+ production deal in February, said the country’s oil minister, a move that enhances the impact of supply cuts that have already boosted crude prices. “We’re basically complying, effective February” with the country’s pledged 53,000 barrel-a-day reduction, Minister of State for Petroleum Emmanuel Ibe Kachikwu said in an interview on Thursday. “The price fluctuations mean OPEC needs to be a bit more together, a bit…

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