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Jean Boustani, the architect of a $2 billion financial scandal in Mozambique, reportedly told a U.S. court on Nov. 20 that President Filipe Nyusi received $1 million during his 2014 campaign effort, Voice of America has reported.
The European Commission has warned that eight eurozone member states, including France and Italy, are at risk of non-compliance with the bloc's deficit rules in their proposed 2020 budgets, Bloomberg reported Nov. 20.
The incoming Argentine government is working on an economic plan and debt repayment scheme to meet its credit obligations but avoid additional austerity measures, President-elect Alberto Fernandez told the International Monetary Fund's managing director, Kristalina Georgieva, during a phone conversation on Nov. 19, Infobae reported.
Saudi Arabian Oil Co. is targeting a valuation between $1.6 trillion and $1.7 trillion for its initial public offering and a price of 30-32 Saudi riyals ($8-8.50) per share, the company announced Nov. 17, Bloomberg reported.
Argentine President-elect Alberto Fernandez has vowed to reevaluate the government budget of his predecessor, Mauricio Macri, and said that Buenos Aires wouldn't implement austerity measures to meet debt obligations, Bloomberg reported Nov. 16.
The Association of Banks in Lebanon announced joint measures to prevent capital flight and excessive cash withdrawals, including a weekly limit of $1,000 for withdrawals in foreign currency, Bloomberg reported Nov. 17.