Article: Free market illusions: What is the US' endgame in China?
Free market illusions: What is the US' endgame in China?
Ramzy Baroud, 02 June 2021
Why does the US advocate a free market while stifling it too? The current US-China economic war is a perfect example of this perplexing question. The legacy of Milton Friedman, the founder of America's modern political economy, was a representation of this very dichotomy: the use and manipulation of the concept of the free market.
Through the Chicago School of Economics, whose disciples have proved most consequential in the formation of the American approach to foreign policy, especially in South America, Milton constantly championed the virtues of the free market, emphasising a supposed link between freedom and capitalism and insisting that governments should not micromanage markets. Continue reading "Article: Free market illusions: What is the US' endgame in China?"
Article: ReconAfrica warns against short sellers
ReconAfrica warns against short sellers
Ed Reed, 02 June 2021
Reconnaissance Energy Africa continues to come under fire from various sources, including short sellers, but it has received public affirmation for its plans from local government in Namibia.
The Canadian company's activities onshore Namibia have been criticised by environmental activists. Initially, worries focused on fracking, but they have grown to include the potential impact on water and elephants.
A whistleblower reported concerns on ReconAfrica to the US Securities and Exchange Commission on May 5, National Geographic reported. According to the report, the company had allegedly failed to provide important information in an attempt to increase its share price. Continue reading "Article: ReconAfrica warns against short sellers"
Article: Fed Govt seeks seizure, repatriation of illicit funds
Fed Govt seeks seizure, repatriation of illicit funds
Nduka Chiejina, 19 May 2021
The Federal Government yesterday appealed to countries that are the main destination for illicit financial flows (IFFs) to freeze, seize and repatriate such funds. Minister of Finance, Budget and National Planning Mrs. Zainab Ahmed made the appeal during a virtual International Conference on Illicit Financial Flows (IFFs) and Asset Recovery.
According to her, countries that are the main destination for IFFs and their proceeds should take urgent steps to assist in combating this scourge, by preventing the inflow of illicit funds, freezing or seizing assets already in the country, and by ensuring that illicit funds and any proceeds are repatriated. The government is also leading the call for African countries to be present when decisions on IFFs are taken at a global level. Continue reading "Article: Fed Govt seeks seizure, repatriation of illicit funds"
Article: Namibia: Hedge Funds – Namibia's Hope to Increase Market Capitalization and Liquidity
Namibia: Hedge Funds – Namibia's Hope to Increase Market Capitalization and Liquidity
Arney Tjaronda, 10 May 2021
Over the course of years, Hedge funds has been a driving force for the Johannesburg Securities Exchange (JSE) market. They have been nicknamed the miracle boy of the JSE due to its performance, so much so that in 2020 alone- despite the pandemic-the Single Manager Composite Index was +6.19% (HedgeNews Africa, January 18, 2021). How is that so? Before answering that question, I will define what hedge funds are.
Definition of hedge funds Continue reading "Article: Namibia: Hedge Funds – Namibia's Hope to Increase Market Capitalization and Liquidity"
Article: Private sector 'key in fighting illegal wildlife trade'
Private sector 'key in fighting illegal wildlife trade'
Hellen Nachilongo, 29 April 2021
Dar es Salaam. Involving private sector and financial institutions is the best tactic that could be used to help investigate and prosecute syndicate leaders (Kingpins) involved in illegal Wildlife Trade (IWT) and money laundering.
African Wildlife Foundation senior manager and wildlife law enforcement species Didi Wamukoya said most of the culprits associate themselves with shell, front companies and banks to operate their business thus making it difficult to investigate and prosecute them.
"Normally the syndicate leader operates in such institutions, to access loans from financial institutions, mix funds for different purposes, pay taxes and sometimes they get witnesses, "she said. Continue reading "Article: Private sector 'key in fighting illegal wildlife trade'"