The Editorial Team

BP Trader Dealings With Nigerian Middleman ‘Didn’t Smell Right’

LAGOS (Capital Markets in Africa) – A BP Plc executive told internal investigators he was concerned about the energy giant’s dealings with a Nigerian middleman and payments being discussed to secure lucrative contracts. The suspicions didn’t make it into the investigators’ final report, which emphasized that the 2017 deal never went through. But notes from their interviews show a senior executive at the company’s London headquarters was worried that proposed payments to an agent in…

Fitch Ratings: Synthetic Libor Proposal Would Minimise Near-Term Risk for UK RMBS

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Fitch Ratings-London, Milan-01 October 2021: The UK Financial Conduct Authority’s (FCA) proposal to permit the use of synthetic sterling Libor fixings beyond end-2021 would lower sterling Libor transition risk for legacy UK RMBS next year, Fitch Ratings says. If adopted, the transition period for affected transactions would effectively be extended by 12 months, during which Libor exposure will decrease further. The FCA said on 29 September it would require…

Even A China Ban Can’t Seem To Kill Bitcoin FOMO: Lionel Laurent

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – The cryptocurrency crowd has wasted no time in dancing on the grave of China’s “FUD” (internet speak for fear, uncertainty and doubt). Last week’s move by the People’s Bank of China to ban crypto transactions and mining dented the prices of Bitcoin, Ethereum and other digital currencies, but they’ve largelyrebounded. The bulls reckon the latest attempt by Beijing to crack down on crypto — the seventh, by research…

‘Rich Dad Poor Dad’ Author Predicts Giant Stock Market Crash

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – Robert Kiyosaki foresees a “giant stock market crash” within the next month, but believes in holding on to a few select asset classes. What Happened: In a tweet from Sunday, the “Rich Dad Poor Dad” author told his 1.7 million Twitter followers he expects a massive crash in the near future. “Giant stock market crash coming October. Why? Treasury and Fed short of T-bills,” said Kiyosaki. “Gold, silver, Bitcoin may crash too….

Jamie Dimon says ‘you’re a fool’ if you borrow to buy bitcoin

Posted on by The Editorial Team

Jamie Dimon says ‘you’re a fool’ if you borrow to buy bitcoin, and that he wouldn’t care if its price increased 10 times “I think if you borrow money to buy bitcoin, you’re a fool,” Jamie Dimon told Times of India. Dimon said “people waste too much time and breath” on the digital asset, which has seen a 50% gain year to date. He also said crypto will be regulated because “governments regulate just about…

Three African Countries Need $280 Billion for Climate Change

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Investments of about $280 billion will be needed to cope with the effects of climate change in 35 cities in South Africa, Kenya and Ethiopia by 2050, new research shows. Africa is the fastest urbanizing continent and also the hardest hit by global warming, the Coalition for Urban Transitions, which advises governments on economic development and climate change, said in a report released on Monday. “Africa’s urban development is…

Growth in Focus as Morocco Set to Hold Rates: Decision Day Guide

Posted on by The Editorial Team

CASSABANLA (Capital Markets in Africa) – Morocco’s central bank is expected to keep its benchmark interest rate at a record low as subdued inflation gives policymakers space to focus on a priority set by the king — reviving an economy battered by Covid. Tuesday’s rate decision comes 10 days before a highly anticipated address by King Mohammed VI to the newly elected parliament, in which he’s expected to put economic growth at the top of…

« 1 … 69 70 71 72 73 … 1,076 »