North Africa |

Egypt Presidential Vote in March as Top El-Sisi Rival Out

CAIRO (Capital Markets in Africa) – Egypt’s top election body said Monday that the next presidential election will be held in March, and gave prospective candidates about three weeks to declare. So far the race has only one potential contender: incumbent Abdel-Fattah El-Sisi. His most serious possible challenger to date, former premier and air force general Ahmed Shafiq, backed out of contention late Sunday after a mysterious string of events. That left the field wide open…

World’s Biggest Bond Losers Reward Investors Betting on Rebound

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Money managers gunning for the best emerging-market bond returns this year may want to consider the biggest losers of 2016 and 2017. History suggests that the worst-performing sovereign debt over a 12- or 24-month horizon is often prone to a sharp reversal as prices revert back to fair value. Take for example Barbados and Turkey. They rebounded from posting some of the worst returns of 2013 to lead the…

Tunisia SE Rises 0.9% to 6,257.24; Poulina Group Leads Advance

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose 0.9 percent to 6,257.24. The move was the biggest since rising 1.1 percent on Aug. 29 and follows the previous session’s decrease of 1.3 percent. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.07 percent. Poulina Group contributed the most to the advance and had the biggest gain, increasing 5.3 percent. Servicom SA fell 3.2 percent, the biggest loss. The biggest movers also…

Tunisia SE Falls 0.6%; Banque Internationale Tunisie Leads

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex fell 0.6 percent to 6,241.96. The move was the biggest since falling 0.7 percent on Sept. 26 and follows the previous session’s increase of 0.3 percent. The MSCI Emerging Markets Europe, Middle East and Africa Index advanced 0.9 percent. Banque Internationale Arabe de Tunisie contributed the most to the decline, falling 3.3 percent. Societe Ciments de Bizerte decreased 5.3 percent, the biggest loss. Arab Tunisian Lease rose 2.6…

Egypt Calls for Less LNG in Tender as Domestic Gas Boost Looms

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – State-run Egyptian Natural Gas Holding Co. is seeking 12 LNG cargoes for delivery in the first quarter of 2018 in a tender, according to two people with direct knowledge. That compares with more than 100 cargoes it planned to purchase via tenders or government-to-government contracts for this year. Traders are monitoring how much LNG Egypt will buy next year as Africa’s biggest gas market weighs it needs for imports against a…

Algeria to Focus on Gas Output as OPEC Cuts Oil, Sonatrach Says

Posted on by The Editorial Team

ALGIERS (Capital Markets in Africa) – Algeria will focus on boosting natural gas production as the Organization of Petroleum Exporting Countries seeks to trim oil supplies to counter a global glut, according to the chief executive officer of the nation’s state-owned energy company Sonatrach Group. “As we are restricted by the OPEC quotas, our strategy today is to increase our gas production capacity,” CEO Abdelmoumen Ould Kaddour told reporters Tuesday visiting the Medgaz pipeline in Beni Saf…

Egypt Weighs $4 Billion Eurobond Sale in January, Official Says

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt plans to return to the international debt markets in January to raise as much as $4 billion to fund the budget deficit, a Finance Ministry official said. The ministry may approach investment banks to select advisers for the possible sale within three months, the official told Bloomberg on condition of anonymity because the plans have yet to be finalized. The amount and the timing would depend on market…

« 1 2 3 4 … 19 »