Fashion-conscious Lagosians switch to online shopping

When brothers Chris and Tope Folayan founded MallforAfrica in 2013, Nigeria’s consumer market looked a lot healthier and more promising than it does today. Three years ago, MallforAfrica joined the raft of Nigerian tech start-ups attracting private equity and venture capital backing. It offered online retailers in the US and the UK that were wary of shipping directly to Nigeria…

What will it take to quench India’s cash drought?

Here’s an educated guess at the liquidity needed to get India’s cash economy flowing again from Credit Suisse’s excellent Ashish Gupta — with our emphasis: To get back to normal transaction volumes we estimate 10-12bn pieces of the new Rs500 may be needed. Industry estimates indicate that until last week ~400mn of the Rs500 notes were printed. While total printing…

A cut out and keep guide to laundering those near-useless old rupee notes

Following the Indian government’s shock decision to withdraw 86 per cent of India’s currency from circulation there were some fun options available for those who wanted to swap out their old notes without attracting official attention — you know, the kind of attention that was the reason for the move in the first place. Of course, you can go too…

Wall Street’s Thanksgiving treat

Markets editor Michael Mackenzie highlights what to watch for in the markets on Friday, including S&P 500 futures suggesting a fresh run into record territory, building on this week’s grand slam. There are also signs the dollar’s strengths has limits.

Saudi Arabia on the verge of $30bn capital injection

Saudi Arabia is hardly an emerging market success story at the moment, with a bout of austerity driven by low oil prices resulting in public sector pay cuts and a slump in non-oil growth to 0.07 per cent in the second quarter of 2016, putting the country on the brink for its first non-oil recession in 30 years. Yet Saudi…

Week ahead: Opec, US jobs, Draghi

After a holiday shortened trading week, in which US stock markets notched fresh record highs, investors turn their attention to the oil market and the US jobs report. Here’s what to watch in the coming days. Mario Draghi European Central Bank chief Mario Draghi will serve as the opening act in a week where investors await the latest from Opec…

Mexico, post-Trump treasure of the Sierra Madre

The glittering treasure you are hunting for day and night lies buried on the other side of that hill yonder. The Treasure of the Sierra MadreB Traven “There are definitely a lot of people trying to figure the [relative value] in a Trump world,” one Wall Street bond investor recently told me following the election of Donald Trump as US…

AstraZeneca climbs on new hopes for drugs pipeline

AstraZeneca was a gainer on Friday after Liberum argued that investors have already written off the group’s cancer drugs pipeline. Liberum added AstraZeneca to its “buy” list with a £52 target. With the stock down 20 per cent since September, the market has priced its high potential immune-oncology portfolio at zero, Liberum said. The broker conceded that Mystic, a pivotal…

Investors Chronicle: Compass Group, Mitchells & Butlers, Victoria

Buy: Compass Group (CPG) While the commodities downturn remains a worry, Compass customers in this industry only account for 7 per cent of revenue, writes Bradley Gerrard. Full-year numbers from commercial catering provider Compass Group had extra flavour thanks to the European division, which delivered its highest organic revenue growth rate since 2008. The geography accounts for 28 per cent…

US markets: Donald Trump’s bull run

As Wall Street traders departed for Thanksgiving this week, they could celebrate a rare achievement. On Monday and Tuesday, the four most widely cited indices of US stocks — the S&P 500, the Dow Jones Industrial Average, the Nasdaq Composite and the Russell 2000 — hit all-time highs simultaneously. The last time a “grand slam” happened was on New Year’s…