The Editorial Team

South Africa Business Mood at One-Year Low on Covid Curbs, Riots

JOHANNEBURG (Capital Markets in Africa) – South African business sentiment dropped to a one-year low in September as economic activity continued to be hamstrung by restrictions to curb the coronavirus pandemic and unease persisted following deadly riots in July. A confidence index compiled by the South African Chamber of Commerce and Industry dropped to 91, from 91.9 in August, the group said Monday in an emailed statement. While that’s the lowest since September 2020, the…

Angola’s Central Bank to Focus on New Mandate From Start of 2022

Posted on by The Editorial Team

LUANDA (Capital Markets in Africa) – Angola’s central bank will focus on inflation and then financial stability from the start of next year after lawmakers agreed to change its mandate, Governor Jose de Lima Massano said. Parliament on Sept. 1 approved a law to boost the central bank’s independence by changing the way the governor is appointed and the mandate of the bank. At a meeting of the central bank’s monetary policy committee on Thursday, the first since the…

Pound’s Break With Tradition Casts Doubt on Rate Hike Playbook

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – The pound is breaking the time-honored tradition that higher interest rates will mean a stronger currency, as growth and inflation fears take their toll. U.K. two-year yields climbed this week to the highest since the start of the pandemic, buoyed by traders’ ramped-up expectations for Bank of England rate hikes in 2022. Yet the pound fell to a year-to-date low and suffered the most volatility since March — a sign that…

Inflation Gauge Hits Highest Since 1991 as Americans Spend More

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – U.S. personal spending growth accelerated by more than forecast in August, driven by goods purchases, while a closely watched measure of inflation exceeded estimates. Purchases of goods and services increased 0.8% from a month earlier, following a downwardly revised 0.1% decline in July, Commerce Department figures showed Friday. Spending in July was previously reported as a 0.3% gain. The personal consumption expenditures price gauge, which the Federal Reserve uses for…

Bitcoin Posts Biggest Increase Since July in a Matter of Minutes

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Bitcoin jumped, rising in a matter of minutes to its biggest daily gain since July, and other digital currencies surged in a shock rally that followed the largest monthly decline since May. The largest cryptocurrency gained as much as 10% to $47,884 early in New York trading before paring gains. Ethereum, Litecoin and EOS also jumped, with the Bloomberg Galaxy Crypto Index rising as much as 8.9%. Bitcoin had slumped 7.6%…

Mauritius Exits Longest Recession on Record as Textiles Recover

Posted on by The Editorial Team

PORT LOUISE (Capital Markets in Africa) – Mauritius exited a coronavirus-induced recession in the second quarter after construction and manufacturing rebounded. Gross value added grew 19.3% in the three months through June, compared with a year earlier, Port Louis-based Statistics Mauritius said in a report published on its website. That’s after five consecutive quarters of contraction — the longest recession on record. Manufacturing that rose 53% in the quarter led the rebound followed by construction…

In Bid to Lure Tech Unicorns, Nigeria Bourse Reviews IPO Rules

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Nigerian Exchange Group will review membership rules to lure tech unicorns and other companies to list on Africa’s second-biggest stock exchange, where there’s been a lull in new offerings. The Lagos-based bourse plans to ease requirements such as track record of profitability and the quarterly filing of financial statements, Olumide Bolumole, the divisional head of listings at NGX, said at a virtual conference on Thursday. “If you are looking…

« 1 … 64 65 66 67 68 … 1,072 »