The Markets | - Part 256

African real estate has unique drivers for growth: PwC report

Global megatrends, such as rapid urbanisation and demographic changes, will drive growth opportunities in the real estate industry across the African continent over the next five years. “The pace of change in the world is accelerating, with a series of transitions, known as global megatrends, transforming the way in which business and society operate,” says Ilse French, Real Estate Leader for PwC Africa. “More and more, investors around the world are seeing the growth potential…

Senegal to issue $500 mln to $1 bln in international bonds

Posted on by The Editorial Team

DAKAR, March 18 (Reuters) – Senegal plans to issue between $500 million and $1 billion in debt in international markets this year starting from June to cover its budget needs, an economic adviser to President Macky Sall said on Wednesday. Mamadou Fall Kane said the West African country’s government was concerned by the strength of the dollar and would use currency swaps to hedge its exposure on dollar-denominated debt. Senegal, a member of the eight-nation…

South Africa’s rand steady before Fed statement

Posted on by The Editorial Team

JOHANNESBURG (Reuters) – South Africa’s rand steadied against the dollar early on Wednesday, with markets waiting for the U.S. Federal Reserve’s policy statement for clues on when the Fed will hike interest rates.The rand was also under pressure after optimism provided by a narrowing of the current account deficit in the fourth quarter of 2014 was overshadowed by signs of foreign capital flight.At 0615 GMT the rand was trading at 12.3735 to the dollar, not…

Frontier Markets Debt May Dodge Fed Bullet

Posted on by The Editorial Team

Sovereign debt issuance from frontier markets this year may not reach last year’s record levels but new bonds are still likely to be warmly received by investors, says Steffen Reichold, a portfolio manager at Stone Harbor Investment Partners, which manages around $45 billion in frontier- and emerging-markets debt. With the U.S. Federal Reserve likely to begin raising interest rates later this year, countries are feeling pressure to issue debt while yields are still relatively low, Reichold says….

Egypt bourse expects 7-8 stock listings by mid-2015: chairman

Posted on by The Editorial Team

ABU DHABI (Reuters) – The chairman of the Egyptian stock exchange expects seven or eight companies to list on the bourse by mid-2015, he said on Wednesday.Mohammed Omran told a securities conference in Abu Dhabi that three large companies had already gone public in Egypt this year. However, it wasn’t immediately clear whether these three companies were part of Omran’s calculations for initial share sales in the first half of 2015.Orascom Construction began trading on…

South African rand hits 13-yr low as market sees U.S. rate hike

Posted on by The Editorial Team

JOHANNESBURG (Reuters) – South Africa’s rand fell to a new 13-year low to the dollar on Monday, after investors sold off emerging market currencies amid heightened expectations of an imminent interest rate hike in the United States. At 1508 GMT the rand was trading 0.21 percent softer at 12.0600 to the dollar after earlier stumbling 0.8 percent to 12.1330, its weakest level since early March 2002, according to Thomson Reuters data. The currency recouped some…

Nigeria’s banking share index up 7.4 percent

Posted on by The Editorial Team

The Nigeria’s Top-10 banking index surged 7.4 percent at the end of Friday’s trading day, as a result of the two top lenders reported higher profits, Guaranty Trust Bank (GTB) and Zenith Bank recorded an impressive growth of 14.8% year-on-year in gross earnings to N403.3bn from N351.5bn in FY:2013. Likewise, GTB gross earnings advanced 14.8% from N242.7bn in 2013 financial year to N278.5bn in 2014 financial year, 4.3%. Their shares rose by 10.2 percent. The benchmark index –…

« 1 … 254 255 256 257 258 259 »