Features

 The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) carried out a rigorous process of testing the compliance of iMAL Islamic financial software and issued a certificate to confirm its compliance with AAOIFI’s Shari’ah and Financial Accounting standards. Mr. Omar Mustafa Ansari, Secretary General, AAOIFI, commented on the occassion, ‘AAOIFI, by virtue of its mission and role in the preparation of Shari’ah and financial accounting standards for the global Islamic finance industry, fully welcomes…

CASABLANCA, Morocco, January 8, 2020/ — Today, Orange officially inaugurates the Orange Middle East and Africa operational head office in Morocco in the presence of Stéphane Richard, Chairman, and CEO of Orange; Alioune Ndiaye, CEO Orange Middle East, and Africa; the members of Orange’s Executive Committee and local officials. The new headquarters is located in Casablanca Finance City Tower (CFC) (http://bit.ly/2NkSTSv) in the heart of Casablanca. The building meets the most recent standards with international…

LUSAKA (Capital Markets in Africa) – Zambian copper producers see their biggest risk this year as the looming expiry of an electricity-supply deal between a state utility and the private company that distributes power to the mines. A more than two-decade-old agreement where state-owned Zesco Ltd. sells power to Copperbelt Energy Corp., which then distributes it to companies including the local unit of Glencore Plc, comes to an end on March 31, and the government…

LAGOS (Capital Markets in Africa) – World leaders urged restraint and moved to recall their citizens after Iran fired missiles at U.S.-Iraqi airbases in its first counterattack since the killing of General Qassem Soleimani by American forces. From Asia to the Americas, worries mounted about an armed conflict spinning out of control, as the tensions roiled global markets. The response showed just how little appetite there was among U.S. allies for another outright war in the vital energy-producing region….

LAGOS (Capital Markets in Africa) – A ripple of negative reaction across U.K. government bonds may be a taste of what’s to come as the country heads for one of Europe’s first major tests of fiscal stimulus. The policy, long-advocated by central banks, could emerge in the first finance bill to be presented in Westminster after Brexit, on March 11. Prime Minister Boris Johnson’s budget may focus global attention on the potential for expanded government spending…

LAGOS (Capital Markets in Africa) – Iran fired more than a dozen missiles at U.S.-Iraqi airbases, a direct attack on American forces in the region that risks further action from President Donald Trump after a U.S. airstrike killed top Iranian general Qassem Soleimani last week. The Islamic Revolutionary Guard Corps claimed responsibility for the barrage, which the Pentagon said was launched from Iran, and warned that additional operations were being prepared. At the same time, there were…

LAGOS (capital Markets in Africa) – Unilever slumped after Chief Executive Officer Alan Jopebacked away from his predecessor’s growth targets as consumers around the world jilt mainstream brands. The maker of Ben & Jerry’s ice cream and Dove soap said sales gains will be slightly below guidance for 2019 and in the lower half of its expected range in 2020. The stock fell as much as 6.6% in Amsterdam on Tuesday, the steepest intraday decline in almost…