Features

LAGOS (Capital Markets in Africa) – Amazon.com Inc. is developing a bevy of new devices and services as it delves into additional markets, including a larger Echo with a wall-mountable screen, a TV sound bar, more advanced car technology and wearable gear.  The tech giant is working on the initiatives at its Lab126 division, which created hit products like the original Echo and the Alexa voice assistant. The Seattle-based company is holding a launch event…

NEW YORK (Capital Markets in Africa) – Democratic leaders on Capitol Hill are running up against multiple critically important deadlines as they navigate a fraught political landscape where any misstep could have dire consequences for the national economy and President Joe Biden’s legacy. While some of the worst-case scenarios — a government shutdown, a federal default or the complete collapse of Biden’s economic plan — are unlikely, several obstacles stand in the way as leaders…

SUDAN (Capital Markets in Africa) – Tensions between Sudan’s civilian politicians and army neared breaking point after an alleged coup bid, risking a democratic transition seen as a rare bright spot in a region marked by dictatorship and conflict. Two days after the military said it stamped out a mutiny and arrested more than 20 officers, top officials have been trading barbs, laying bare a clash in the power-sharing government between activists who pushed for…

JOHANNESBURG (Capital Markets in Africa) – Mining companies in South Africa are considering spending as much as 40 billion rand ($2.7 billion) to construct 2,000 megawatts of power generation capacity, said Roger Baxter, chief executive officer of Minerals Council South Africa. Mining companies have been pushing to develop their own power plants because of persistent power cuts imposed by state power utility Eskom Holdings SOC Ltd. They are also keen to move away from total reliance on…

LAGOS (Capital Markets in Africa) – India will restart exports of Covid-19 vaccines for the World Health Organization’s Covax initiative from the quarter beginning Oct. 1, Health Minister Mansukh Mandaviya says, days after the government pledged to first focus on meeting local requirements. The country will also begin shipments as part of its vaccine donation program, the federal minister told reporters Monday. He did not give any details. Home to the world’s largest vaccine-manufacturing industry,…

LAGOS (Capital Markets in Africa)- BP Plc fired an ex-oil trader because he voiced concerns about bribes being paid in Nigeria to secure local contracts, according to a sprawling London employment suit that sheds light on the energy giant’s lucrative trading floor.  Jonathan Zarembok, who traded on BP’s West Africa desk, said that the company paid an “abnormally large” fee to a local agent to participate in a state oil tender. He alleged that BP’s…