Zhang Jun SHANGHAI – Widespread lockdowns and border closures aimed at combating the COVID-19 pandemic have interrupted global supply chains and largely paralyzed the global economy. Yet, the real weakness of today’s global economy is not the vulnerability of its globalized production networks, but rather souring attitudes toward globalization – and toward China in particular. […]
Along with gradual reopening of global economies, production cuts are pushing prices back to $40/barrel much quicker than initially thought JOHANNESBURG, South Africa, June 5, 2020/ — As OPEC prepares to host the 179th Meeting of the OPEC Conference and 11th OPEC and non-OPEC Ministerial Meeting via videoconference next week, the African Energy Chamber is […]
The local foreign exchange market experienced a ramble yesterday with the shilling trading within a narrow band against the U.S. unit. Paltry dollar inflows just about matched demand for foreign currency from the corporate sector and left the USDUGX currency pair unchanged at 3755-3775 band by the closing bell. The pair is likely to trade […]
African equity capital markets activity see downward turn, but increase in domestic investors – Making Finance Work for Africa partnership and PricewaterhouseCoopers (PwC) Nigeria The Making Finance Work for Africa (MFW4A) partnership and PwC Nigeria co-hosted a webinar to explore the impact of COVID-19 on African capital markets last month ABIDJAN, Ivory Coast, June 3, […]
Along with his new responsibilities as Head of Corporate Finance, AME, Abbas’ will also expand his role as Head of Project & Export Finance DUBAI, United Arab Emirates, June 2, 2020/ — Standard Chartered (www.SC.com) has announced that Abbas Husain has been appointed Regional Head of Corporate Finance, Africa and the Middle East (AME). Bringing […]
The local currency shone on Thursday, gaining traction versus the dollar, amid trivial activity. Despite demand for dollars from the corporate and interbank players, the shilling was propelled to close at the 3775-3785 levels as the market was crammed with end month foreign currency inflows. Ahead of the weekend, the home unit may hold on […]
By Wambua Mutua Deal makers are looking forward for investments and M&A activities to pick up in last quarter of 2020. East Africa investments are set to remain at low levels through 2020 with full recovery unlikely until first quarter of 2021 as the world continues to grapple with the current pandemic and its economic […]
Overall market lethargy left the Uganda shilling trading flat against the U.S. currency in yesterday’s trading session. Fickle dollar supply by corporate players was evenly matched by a dearth inactivity on the foreign currency demand counter that left the home unit stuck within the 3780-3800 trough versus the buck. The USDUGX currency pair looks settled, […]
The local foreign exchange market experienced calm on Thursday with the Uganda shilling trading within a narrow band against the U.S. unit. Paltry dollar inflows just about matched demand for foreign currency from the corporate sector and left the USDUGX currency pair a mere 3 shillings higher by the closing bell. The pair is likely […]
By Achim Steiner and Maria Ramos NEW YORK/JOHANNESBURG – Today, “mobile money” – a service enabling people to send, receive, and store money on a cellphone – allows a market trader in Kenya to borrow a modest amount at sunrise to buy her stock, and then pay it back at sunset from her daily earnings. […]
By Josh Lipsky and Jeremy Mark WASHINGTON, DC – Even before COVID-19 began its deadly spread across their borders, developing countries were absorbing severe economic shockwaves emanating from China and advanced economies. And now, in addition to tumbling commodity prices and plummeting export demand, they face a sharp drop in remittances from émigrés and expatriates, […]
The pound – this month’s worst-performing major currency – could “easily drop to $1.18” at the end of June, warns the CEO of one of the world’s largest independent financial advisory and fintech organisations. The warnings from deVere Group’s chief executive and founder Nigel Green come as it is revealed that the British currency shed […]
By Benjamin J. Cohen SANTA BARBARA – With the onset of the COVID-19 crisis, the United States seems to have developed a severe case of what psychologists call dissociative identity disorder: it is simultaneously projecting two distinct personalities. On the one hand, the US Federal Reserve has responsibly assumed a leadership role in international finance, […]