U.S. banks poured more than $200 billion into state and local-government debt since the onset of the financial crisis six years ago, boosting their share of the $3.7 trillion market to a two-decade high.
Woolworths Holdings Ltd., a South African food and clothing retailer, said first-half profit increased 22 percent as demand from higher-income shoppers boosted sales, even as growth in the economy slows.
Botswana and Namibia will sign a deal at the end of this month to develop a 1,500-kilometer (932- mile) railway for transporting coal exports to the port of Walvis Bay, according to the Botswana Chamber of Mines.
Zimbabwe’s central bank added the Australian dollar, Chinese yuan, Japanese yen and Indian rupee to currencies allowed for trading, while ruling out reviving the Zimbabwean dollar outlawed five years ago.
Zimbabwe’s bank association, whose members include the local units of Barclays Plc and Standard Chartered Plc, said the central bank should explain how it will resume its role as lender of last resort.