Confusion as explosion rocks Lagos
A massive explosion which rocked Lagos on Sunday morning has led to the destruction of houses in different parts of the state.
Month: March 2020
Reports suggest Zenith Bank given green light to acquire Union Bank
Zenith Bank Plc has reportedly been given the green light to merge or acquire Union Bank Nigeria Plc.
Bitcoin has lost 30% of its value this week
The price of one bitcoin (XBT) fell 3% in early morning trading to about $5,600 before recovering a bit. At one point Friday morning, prices had plunged as low as $3,850.
Market unfavourable for Naira devaluation – CBN
The Central Bank of Nigeria (CBN) says market fundamentals do not support Naira devaluation this time around. The CBN made…
Johannesburg Stocks Fall Most Since 1997 in ‘Panic’ Sell-Off
We’re tracking the latest on the coronavirus outbreak and the global response. Sign up here for our daily newsletter on what you…
Global Airlines Face the Worst Demand Decline on Record
Globalization has been a boon for the airline industry, which has flourished as nations opened up to one another over…
Airlines slash flights to cut costs as coronavirus hits travel demand
The crisis engulfing the airline industry deepened on Tuesday as carriers cancelled flights, withdrew earnings guidance and implemented austerity measures…
Dow tanks 2,300 in worst day since Black Monday, S&P 500 bear market
It was a historic day on Wall Street. The Dow plunged 10% for its worst day since Black Monday in…
Oil price collapse sours $310-million deal for failed shale producer
A court-ordered sale of one-time shale high-flyer Alta Mesa Resources Inc fell through due to a lack of financing on…
Nigerian shoemakers tap national pride, nostalgia to spur local industry
Two men in grey jumpsuits brush glue onto rubber soles, while factory machines whir in the background. Elsewhere, women perched…
Trump suspends travel from Europe – except the United Kingdom
President Donald Trump announced on Wednesday that all travel from Europe, except for the United Kingdom, will be suspended for…
Global stocks plunge after Trump announces coronavirus response package
US stock futures and markets around the world slid late Wednesday night as concerns about the economic fallout from the…
One standout number in Amazon’s financial report showcases a positive shift in its growing cloud business
Amazon Web Services has been focused on signing up more large business customers in recent years, as it continues to…
US stocks surged into the close to end a volatile session on Tuesday.
Sharp mid-day fluctuations came as investors weighed the possible timing of a government stimulus package designed to boost US economic…
Oil Drop May Force Nigeria to Devalue Naira as Reserves Sink
The plunge in oil prices is piling pressure on Nigeria to devalue the naira as dwindling export revenue depletes foreign-exchange…
John Boyega signs Netflix deal to produce West, East African movies
John Boyega, Nigerian-British actor, has signed a multi-year deal with Netflix, US media-services firm, to produce West and East African movies.…
Nigeria spends N1.7 trillion to import fuel in 2019
Nigeria spent N1.713 trillion on the importation of Premium Motor Spirit, also known as petrol, in 2019, according to data…
Dow rebounds 1,167 points a day after suffering worst plunge since financial crisis
US stocks surged into the close to end a volatile session on Tuesday. Sharp mid-day fluctuations came as investors weighed…
Coronavirus: £130bn wiped off FTSE 100 in minutes
The FTSE 100 has seen more than £130bn wiped from the value of its constituent companies within minutes, in…
Nnewi: Nigeria’s self-made Industrial hub
Nnewi is not a tier-one city in Africa, and not in Nigeria. Even within Anambra, it is masked by the…
Oil prices plunge below $35, Saudi Arabia triggers price war
Saudi Arabia rattled the already depressed oil market to its foundation early Monday after unilaterally slashing prices and promising to…
Much worse than 2008 Global Financial Crisis?
The breathtaking volatility that has rocked the stock market for two weeks is rippling through other asset classes — and…
Saudis Plan Big Oil Output Hike, Beginning All-Out Price War
Saudi Arabia plans to increase oil output next month, looking to boost it well above 10 million barrels a day,…
Aramco Drops Below IPO Price in Blow to Saudi Economic Plan
Saudi Aramco shares dropped below their IPO level for the first time as a looming price war in global crude markets…
South African President appoints Okonjo-Iweala member SA Economic Advisory Council
Ngozi Okonjo-Iweala, Nigeria’s former minister of finance, was at South Africa’s presidential economic advisory council meeting in Tshwane on Friday.…
Silk roadblock: coronavirus exposes Nigeria’s reliance on China
Yetunde Oluyide has run a gift shop in bustling Lagos for nearly a decade, but with coronavirus curtailing imports of…
5 Steps to Making a Profit in Crude Oil Trading
Crude oil trading offers excellent opportunities to profit in nearly all market conditions due to its unique standing within the…
No One Wants to Be a Nigerian Stock Trader as Volumes Plunge
Stockbrokers are out of fashion in Nigeria. Not a single company registered to become a dealer on the West African…
The U.S. May Already Be in a Recession
Let’s just say it: The longest economic expansion in U.S. history may already be over, killed by Covid-19. It might…
Tech companies have canceled some high-profile conferences, causing an estimated economic loss of $666 million amid coronavirus concerns.
Tech companies have canceled some high-profile conferences, causing an estimated economic loss of $666 million amid coronavirus concerns. Here’s what’s…