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What to Watch in Commodities: Trade, Aramco, Megadeal, OPEC, LNG

LAGOS (Capital Markets in Africa) – Commodities posted good returns in the first quarter, although there are now concerns on whether gains can be sustained. As April opens, it’s deals that are on the radar: the U.S. and China plan more talks as they seek to narrow differences on trade, and in what could be the biggest deal in the gold-mining industry, Goldcorp Inc. shareholders vote on the merger with Newmont Mining Corp. Also key to events, mammoth oil…

Anglo Platinum Hikes Dividend as Palladium Surge Boosts Cash

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JOHANNESBURG (Capital Markets in Africa) – Platinum prices are languishing near decade lows, yet investors in the No. 1 supplier of the metal haven’t had it this good for years. Anglo American Platinum Ltd. declared its biggest dividend since 2008 as the company reported full-year earnings that nearly doubled, thanks to a weaker rand and surging prices for sister metal palladium. The Johannesburg-based miner’s shares have risen 104% in the past 12 months. While rivals…

Tesla Rushes Model 3s to China Before Trade-War Truce Expires

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LAGOS (Capital Markets in Africa) – At least three ships roughly the length of two football fields are slated to arrive at ports in China by the end of this month, each carrying precious cargo from Elon Musk. Tesla Inc. is loading as many Model 3 sedans as it can onto vessels destined for the People’s Republic ahead of March 1, when a trade-war truce between presidents Donald Trump and Xi Jinping is scheduled to expire. Musk fears the two countries…

Deutsche Bank Taps Cerberus to Help Squeeze More From Cash Pile

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LONDON (Capital Markets in Africa) – Deutsche Bank AG, running out of time to restore revenue growth, is getting a little help from its friends at Cerberus Capital Management. Germany’s largest bank on Friday confirmed that Cerberus, one of its top shareholders and an adviser through a separate unit, has been helping manage its cash reserves more profitably, a story reported earlier by Bloomberg. That’s already bearing fruit and could add 300 million euros ($344 million)…

Why Are So Many African Leaders Shutting Off the Internet in 2019?

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LAGOS (Capital Markets in Africa) — Last week, Zimbabwe’s High Court ordered Internet operators to restore the Internet, which they had shut down for a week. President Emmerson Mnangagwa’s officials ordered the shutdown after mass protests against fuel price hikes — from less than $3 per gallon to almost $12 a gallon — rocked Zimbabwe for weeks, aiming to prevent protesters from coordinating their actions and sharing information. Protesters argued that the shutdown’s goal was…

Goldman Cheers as Rand Heads for Best-Ever Start to a Year

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LAGOS (Capital Markets in Africa) – The rand’s flying start to 2019 may be just the beginning, according to Goldman Sachs Group Inc. The South African currency is heading for its biggest January gain against the dollar since Bloomberg started compiling the data in 1999. And with expected volatility near an eight-month low, traders are discounting local stumbling blocks in coming months, including a budget speech, ratings review and election. The rand has been buoyed by a more dovish Federal Reserve…

Congo President-Elect Strikes a Conciliatory Tone After Win

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KINSHASA (capital Markets in Africa) – The Democratic Republic of Congo’s incoming president, Felix Tshisekedi, will work with his predecessor to foster reconciliation and accelerate development in the poverty-stricken nation, his party said. Tshisekedi, 55, became the first opposition leader to win an election in the cobalt- and copper-rich country when electoral authorities on Thursday declared him the victor of a Dec. 30 vote. Rival candidate Martin Fayulu, who was backed by two of outgoing President Joseph Kabila’s…

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