Africa

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Mozambique Cuts Key Rate as Inflation Lingers Near 2015 Low

Mozambique’s central bank reduced its benchmark lending rate for the sixth consecutive meeting as inflation lingered near a 2015 low and the regulator tries to spur an economy that’s forecast to expand at the slowest pace in 18 years, Bloomberg News repo ...

Daily Headline - global.abi.org - 06/18/2018 - 21:25 - 0 comments

Vitol-Led Group in Talks to Buy Nigeria Assets from Petrobras

A consortium led by top oil trader Vitol has entered exclusive talks to acquire stakes in Nigerian offshore fields that are held by Brazil’s Petrobras and its partners, industry sources said, Reuters reported. The assets are estimated to be worth up to $ ...

Daily Headline - global.abi.org - 06/18/2018 - 21:33 - 0 comments

Steinhoff Sells Loss-Making Austrian Unit to Benko's Signa

Steinhoff International Holding NV agreed to sell its Austrian furniture retailer Rudolf Leiner GmbH and real estate assets to billionaire Rene Benko’s Signa Holding GmbH to prevent a looming insolvency of the unit, Bloomberg News reported. The condition ...

Daily Headline - global.abi.org - 06/17/2018 - 21:11 - 0 comments

Angola’s Debt Reliance on China May Leave It Short-Changed

As Angola seeks to attract foreign investors to help diversify its oil-dependent economy, the country’s biggest trading partner, China, looks set to take a leading role, but the considerable leverage it is able to wield may leave Africa’s third-largest e ...

Daily Headline - global.abi.org - 06/13/2018 - 23:54 - 0 comments

Steinhoff Shareholders Sue Deloitte for Damages

Shareholders in Steinhoff on Wednesday sued Deloitte for damages in a Dutch court, accusing the auditor of failures in the accounting scandal that brought the South Africa-based global retailer to the brink of collapse, the Financial Times reported. ...

Daily Headline - global.abi.org - 06/14/2018 - 00:07 - 0 comments

Glencore Unveils $5.6 Billion Restructuring of Congo’s Katanga Mining

Swiss mining giant Glencore PLC unveiled a sweeping $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining Ltd., resolving a heated dispute with Congo’s state-run mining company about a massive debt load it has built up over the ...

Daily Headline - global.abi.org - 06/12/2018 - 23:45 - 0 comments

Steinhoff Shareholders Sue Deloitte for Damages

Shareholders in Steinhoff on Wednesday sued Deloitte for damages in a Dutch court, accusing the auditor of failures in the accounting scandal that brought the South Africa-based global retailer to the brink of collapse, the Financial Times reported. ...

Daily Headline - global.abi.org - 06/13/2018 - 23:53 - 0 comments

Africa’s ‘Sleeping Giant’ Courts Foreign Investors With Reforms

Ethiopia, Africa’s second-most-populous country and the continent’s fastest growing economy, is inviting big business to cash in, Bloomberg News reported. For so long a closed shop, the Horn of Africa nation on Tuesday invited foreign investors to buy st ...

Daily Headline - global.abi.org - 06/06/2018 - 22:39 - 0 comments

Steinhoff International's Credit Insurers Withdraw Cover

Credit insurers have decided to withdraw insurance cover for South African retailer Steinhoff International's loans, Steinhoff's Austrian subsidiary Kika/Leiner said on Monday. "The loss of the credit insurance is a result of the Steinhoff ...

Daily Headline - global.abi.org - 06/04/2018 - 23:31 - 0 comments

Global asset management quarterly

Welcome to the ninth edition of Global asset management quarterly. This publication highlights key developments that will be of interest to and affect our asset management clients, including market trends and developments in tax and buy-side regulation g ...

Resource Article - twallace@abiwor... - 06/01/2018 - 10:22 - 0 comments - 0 attachments

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