China’s reforms not enough to arrest mounting debt: Moody’s

Businessam StaffMay 26, 2017

China’s structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody’s said. The comments came two days after Moody’s downgraded China’s sovereign ratings […]

Ballooning Chinese dollar borrowing a dilemma for index trackers

Businessam StaffMay 26, 2017

Record-breaking dollar bond sales from Chinese companies are steadily increasing China’s weight in global indexes, raising concerns about overexposure among investors who track them. Corporates’ rapid move onto offshore bond markets, partly a response to the crackdown on runaway credit growth at home, highlights China’s multi-faceted indebtedness, a growing worry for investors. Overall debt is […]

South Africa inflation at 17-month low shows end to rate hikes

Businessam StaffMay 25, 2017

South Africa’s inflation rate fell within the central bank’s target band in April for the first time in eight months, reinforcing chances that the rate-increase cycle may have come to an end. Consumer-price inflation eased to 5.3 percent from 6.1 percent in March, Statistics South Africa said in a report released Wednesday in the capital, […]

Theresa May to start Brexit talks on weak economic footing

Businessam StaffMay 25, 2017

U.K. Prime Minister Theresa May will start Brexit talks with a slowing economy. Growth was just 0.2 percent in the first quarter, the weakest in a year, and less than half the pace recorded in the euro area, the Office for National Statistics said Thursday. That sluggishness points to the risks to confidence and investment […]

How to plan your first visit to Europe for summer 2017

Businessam StaffMay 25, 2017

Europe is one of the most popular travel destinations for Americans. Its varied cultures and easy-to-use transportation methods enable visitors to travel to multiple countries within a few days. If you’re planning a trip to Europe in 2017, keep these six tips in mind to make sure you have the best experience possible. Order Currency […]

Egypt sets price guidance for Eurobond sale, sees lower yields

Businessam StaffMay 24, 2017

Egypt expects to price its expected $1.5-$2 billion sale of reopened Eurobonds on Wednesday at lower yields than when it first sold the debt in January, according to Thomson Reuters news and market analysis service IFR. IFR said price guidance for the five-year bond was 5.50 percent compared with 6.125 percent in January, with the […]

Tanzania fires mining minister

Businessam StaffMay 24, 2017

President John Magufuli of Tanzania on Wednesday fired the mining minister and the chief of the state-run mineral audit agency. They were sacked after receiving a report into whether mining companies were under-declaring the value of their exports. The president’s decision, announced in a speech, signals an escalation of tensions between the government and the […]

Ethiopia’s Tedros Ghebreyesus now WHO chief (Photos)

Businessam StaffMay 24, 2017

The World Health Assembly, the decision-making body of the World Health Organisation (WHO), has elected Dr Tedros Adhanom Ghebreyesus of Ethiopia as the new Director-General of the world body. WHO said in a statement following the afternoon vote that “Dr Tedros Adhanom Ghebreyesus was nominated by the Government of Ethiopia, and will begin his five-year term on […]