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Third Saudi capital markets banker to leave in recent months
Replacement for Derant Lakoue poached from Standard Bank
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Muddy Waters has fostered a fearsome reputation as a credible, thorough and forceful short seller whose explosive reports are a danger to anyone harbouring a stake in its intended target. Carson Block, its founder and chief investment officer, told GlobalCapital he has never been wrong about a company he’s shorted, though that doesn’t mean he’s made money from every position he has held. According to Block, monetary policies intended to stimulate markets through financial crises actually corrode them, and stifle accountability for serious failures in corporate governance. -
Africa Finance Corporation (AFC), the Nigeria-based multilateral development bank (MDBs), has emerged at the forefront of regional coronavirus rescue efforts, providing financing for emergency hospitals, medical aid and more. As Africa finds itself at the centre of global calls for emergency financing and debt relief, the AFC’s chief executive, Samaila Zubairu, talks to GlobalCapital about the bank’s response to the crisis, how its own fundraising plans have been affected, and the future of Chinese capital in the region.
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The head of the Cyprus public debt management office believes that the amount Cyprus can claim under the ESM pandemic support facility “is insufficient to justify any such action”.
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In this round-up, China’s top government officials, including president Xi Jinping, discuss key economic targets and a fiscal stimulus package, and foreign minister Wang Yi warns the US against a ‘new cold war’.
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Cyprus may become the first country to access the ESM’s pandemic support line, borrowing 2% of its GDP for up to 10 years.
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In this special round-up on China’s annual Two Sessions parliamentary meeting, the government does not set a growth target for 2020 but raises the budget deficit to at least 3.6% of GDP. It also plans to issue Rmb1tr ($140bn) of special ‘anti-pandemic’ treasury bonds.
