Togo, Niger, Benin owe Nigeria N30bn for electricity
The Republics of Togo, Niger and Benin owe Nigeria a total of N29.97bn for the…
Month: March 2020
The End of OPEC Is Here
OPEC may not survive to celebrate its own 60th birthday later this year. Saudi Arabia’s decision to…
Coronavirus threatening our debt servicing plans – DMO
The Debt Management Office on Monday raised the alarm that the outbreak of coronavirus was…
Why oil prices are crashing and what it means
Oil prices have suffered their biggest fall since the day in 1991 when American forces launched air…
Global airlines slash flights as US carriers seek $50 bn bailout
Major world airlines on Monday announced further deep cuts to service as the worsening coronavirus…
Amazon on hiring spree as coronavirus spurs demand
Amazon has said it will hire 100,000 warehouse and delivery workers in the US to…
Johannesburg Stocks Fall to 2013 Low as Virus Steps Worsen Woes
South Africa’s benchmark stock index fell to the lowest since July 2013 after President Cyril…
Coronavirus Could End China’s Decades-Long Economic Growth Streak
China’s growth streak has lasted for decades, surviving the crackdown at Tiananmen Square, the global…
France Fines Apple $1.2 Billion for Antitrust Issues
France’s antitrust regulator on Monday fined Apple 1.1 billion euros, or $1.2 billion, putting more…
Coronavirus: Stocks plunge despite global central bank action
Global stock markets have sunk again despite central banks around the world announcing a co-ordinated…
More African countries confirm first coronavirus cases as Jack Ma pledges aid
Chinese billionaire and Alibaba co-founder Jack Ma pledged to donate over 1 million coronavirus tests…
Italy pumps cash into coronavirus-hit economy as death toll passes 2,000
Italy approved 25 billion euros ($28 billion) of spending measures on Monday to help the…
Nigeria to delay proposed $3.3bn Eurobond on coronavirus concerns
Nigerian government will delay this year’s issuance of the $3.3bn it had initially planned because…
Cowen expects Nike’s sales fall $3.5 billion for May quarter
Nike Inc’s (NKE.N) revenue could fall by a third in the fourth quarter, Cowen estimated,…
Egypt to halt flights from Thursday to stem spread of coronavirus
Egypt will halt all air traffic at its airports from Thursday until March 31 to…
CBN Policy Measures In Response To COVID-19 Outbreak And Spillovers
March 16, 2020 The Corona Virus (COVID 19) pandemic is having significant adverse consequences for…
CBN asks banks to restructure loan terms, cuts special interest rate to 5%
The Central Bank of Nigeria (CBN) has directed all deposit money banks in the country…
Stocks market sees choppy gains in early trading on NSE
Barely one hour into stock trading session on Monday March 16, investors were seen snapping…
Zenith Bank limits int’l withdrawal amount on card
Zenith Bank has limited the monthly international withdrawal limit on its Naira cards to $1,000…
Luxury perfume makers Dior and Givenchy will produce free hand sanitizer for French health authorities
LVMH said it will use all the production facilities of its perfumes and cosmetics brands…
Dollar sells at N380 as CBN holds press conference
The foreign exchange market resumed on Monday, 16th March, with dollar selling at N380/$ in…
Ferrari suspends production over Covid-19
The Italian government ordered a nationwide lockdown last week. But supply chain problems have emerged…
Lagos explosion: Sanwo-Olu sets up investigative panel, N2bn relief fund
Sanwo-Olu, who visited the scene on Monday morning, also announced a N2 billion relief fund…
Oil crash: Nigeria may lose $8.63bn in six months
Nigeria’s economy may slide into another recession as the sudden crash in crude oil prices…
Global central banks pull out all stops as coronavirus paralyzes economies
The coordinated response from the Fed to the European Central Bank (ECB) and the Bank…
Gold Climbs After Fed Cuts Interest Rates as Virus Spreads
Gold jumped in early Asian trading after the Federal Reserve cut its benchmark interest rate…
Ghana Closes Borders for Arrivals From Coronavirus-Hit Countries
Ghana is closing its borders to travelers from countries with more than 200 cases of…
US Federal Reserve cuts rates to zero to support economy during coronavirus pandemic
In a bold, emergency action to support the economy during the coronavirus pandemic, the Federal…
The Audacity of the British Treasury… UK Property Market
Yesterday, the United Kingdom’s Chancellor, Rishi Sunak, whilst delivering the government’s budget plans announced a…
Apple temporarily shuts stores outside Greater China
Apple will close all stores outside of Greater China until March 27 to help stop…