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An acceleration in the growth of riskier, unsecured lending in South Africa threatens the stability of the finance sector, the central bank said on Thursday. Many poor South Africans rely on unsecured credit – not backed by an asset and generally more expensive to take out – in a stagnant economy, where living costs are rising and unemployment stands at close to 30%. The South African Reserve Bank (SARB) highlighted a sharp rise in the portion of credit that was unsecured in the second half of 2019 as a risk to financial stability, especially as consumer finances come under growing pressure....
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterEgypt’s parliament confirmed central bank Governor Tarek Amer will hold the role until 2023, a vote of confidence in the man who steered the North African nation through a dramatic currency devaluation that restored economic stability.The granting of a new four-year term, backed Thursday by a majority of lawmakers in the assembly, comes as the country reaches the end of a sweeping three-year International Monetary Fund-backed reform program and mulls the shape of any future agreement with the Washington-based institution.Amer’s reappointment will be “welcomed by investors as a sign that the government remains committed to orthodox policy making,” London-based Capital Economics said in a note, describing his first term as a “success.”Amer, a former president of the National Bank of Egypt, the country’s largest state-owned lender, began his stint in late October 2015 as Egypt, feeling the...
Shares of Brazilian oil firm Petroleo Brasileiro SA slipped on Thursday after its oil and gas production outlook for next year disappointed analysts, despite ambitious long-term output forecasts in its new five-year strategic plan. Petrobras, as the state-run company is known, aims to produce 2.2 million barrels of oil per day (bpd) next year, below a prior outlook for more than 2.3 million bpd provided in the comparable strategic plan released last December. Preferred shares of Petrobras slid more than 1% in morning trade on the Sao Paulo stock exchange....
Turning Point Brands (NYSE:TPB) shareholders are no doubt pleased to see that the share price has bounced 30% in the......
Shares in Brazil's biggest lenders were down nearly 1% in early Thursday trading after the country's monetary policy committee imposed a cap on interest rates on overdraft credit, in a move likely to reduce their profits. Banks will not be allowed to charge interest rates over 150% annually, or 8% monthly, the committee said, starting on Jan. 6. Currently the average annual interest rate is roughly 306%....
After reading Texas Roadhouse, Inc.'s (NasdaqGS:TXRH) most recent earnings announcement (24 September 2019), I found......
Today we'll look at Triton International Limited (NYSE:TRTN) and reflect on its potential as an investment. In......
