Bloomberg One emerging market has so far eluded Standard Chartered Plc Chief Executive Officer Bill Winters: Ethiopia. Winters, head of London-based Standard Chartered since mid-2015, would “love to think that there are opportunities” in Ethiopia, he said in an interview in Nairobi, Kenya. The problem is that it’s entirely closed to foreign banks. “The underlying fundamentals are pretty interesting,” said ...

Bloomberg Banks are worried that South Africa is taking a wrong turn with laws being considered by the nation’s parliament that could leave the economy worse off. “They do not seem to be the legislative underpinning of a comprehensive, implementable national economic recovery plan,” the Banking Association of South Africa (BASA) said in a statement distributed in Johannesburg. “Rather they ...

Bloomberg Union Bank of India is pulling out of the global diamond hub of Antwerp, joining a retreat of lenders from the industry, which has been hit by fraud and bad debt. The bank has given notice that it will close its branch in the Belgian port city within a year, according to Chief Executive Officer Rajkiran Rai Gundyadka. Antwerp ...