Africa Ethiopian Airlines’ CEO Says The Airline Is ‘Fighting For Survival’ April 22, 2020 Ekemini Ethiopian Airlines CEO Tewolde Gebremariam told an aviation conference in Addis Ababa the coronavirus pandemic was “a temporary problem” – comparable to a natural disaster or a spike in oil…
World Kraft-Heinz Extends Factory Worker Bonuses In Pandemic April 22, 2020 Ekemini Kraft Heinz (KHC.O) will extend for two weeks a $100 per week stipend for factory workers producing its packaged foods during the COVID-19 pandemic, the company said on Wednesday. “Kraft…
Business Netflix To Borrow Another $1 Billion Despite Record High Cash Balance April 22, 2020 Ekemini Netflix Inc. is selling new junk bonds, even as the company sits on a record high cash balance and turned its first quarter of positive cash flow in six years.
Local Central Bank Of Nigeria To Begin Disbursement Of N50bn COVID-19 Fund On Thursday April 22, 2020 Ekemini Barring any last-minute change in plans, the disbursement of the first tranche of the Central Bank of Nigeria N50bn targeted credit facility would begin on Thursday. The fund, which is…
World Stocks Rise After U.S Senate Approves Coronavirus Relief Funds April 22, 2020 Ekemini Stocks rose Wednesday morning, recovering some losses after a sell-off in risk assets a day earlier sent the S&P 500 to its largest one-day drop since April 1. Each of…
Local Nigerian Government To Use BVN To Identify Poor Nigerians – Sadiya Farouq April 22, 2020 Ekemini As the coronavirus pandemic continues to rampage, the FG has revealed plans to expand the social register for palliative distribution by using the Bank Verification Number (BVN). This was disclosed…
World Coronavirus Pandemic Will Cause Global Famines Of ‘Biblical Proportions,’ UN Warns April 22, 2020 Ekemini The world is facing multiple famines of “biblical proportions” in just a matter of months, the UN has said, warning that the coronavirus pandemic will push an additional 130 million…
Business Coronavirus Propel Netflix To Huge Subscriber Gains April 22, 2020 Ekemini Netflix added a stunning 16 million subscribers in the first quarter of 2020, as the coronavirus pandemic led people to stay at home and binge on hit docuseries, such as…
World Study Finds No Benefit, Higher Death Rate In Patients Taking Hydroxychloroquine For Covid-19 April 22, 2020 Ekemini Coronavirus patients taking hydroxychloroquine, a treatment touted by President Trump, were no less likely to need mechanical ventilation and had higher deaths rates compared to those who did not take…
World U.S. Home Sales Tumble As Coronavirus Keeps Buyers Indoors April 21, 2020 Ekemini The slump in home resales reported by the National Association of Realtors (NAR) on Tuesday added to a pile of dismal March reports in illustrating the economic havoc from the…
World China: The Biggest Winner Of The Oil Crash April 21, 2020 Ekemini A clear winner has emerged from the historic rout in global oil markets: China, which is reaping an unlikely reward from a crisis it helped foment. Crude remains trapped in…
Local Nigeria To Earn $10.61bn From Crude Oil Between May And December After Recent Production Cuts April 21, 2020 Ekemini Nigeria may earn about $10.61bn from crude oil sales between May and December this year following latest decision by members and non-members of the Organisation of Petroleum Exporting Countries to…
World Trump Looking At Stopping Saudi Oil Shipment As U.S Crude Oil Price Plunges Into Negative April 21, 2020 Ekemini U.S. President Donald Trump said on Monday that his administration was looking at the possibility of stopping incoming Saudi Arabian crude oil shipments to support the battered domestic drilling industry.…
Local 80,000 Apply For Coronavirus Loan In Nigeria April 21, 2020 Ekemini NIRSAL Microfinance Bank (NMFB) has resolved that the business plans for the ₦50 billion Targeted Credit Facility as a stimulus package to support households and MSMEs is no longer mandatory.…
World Coronavirus: Spain Pledges More Economic Support April 21, 2020 Ekemini Spain’s cabinet approved measures to support workers and businesses struggling under stringent coronavirus restrictions on Tuesday as officials cheered a slowing infection rate The latest 24-hour tallies took fatalities to…
Breaking Coca-Cola Posts Better Than Expected Earnings But Coronavirus Continues To Wreck Havoc April 21, 2020 Ekemini Coca-Cola’s (KO) better than expected first quarter on Tuesday may not even matter to investors as business has fallen off a cliff in the second quarter at the hands of…
Africa South Africa’s Rand Opens Weaker As Fear Of Economic Contraction Grows April 21, 2020 Ekemini The South African rand opened weaker on Monday, mirroring moves elsewhere in emerging markets as fears over global economic growth dented appetite for riskier asset, Reuters reported. At 0600 GMT,…
Investing Nigerian Stock Exchange Records Marginal Loss To Commence Weekly Trading Activities April 21, 2020 Ekemini Transactions on the floor of the Nigerian Stock Exchange on Monday recorded a marginal loss to commence the weekly trading activities. The market breath closed negative with 16 losers against…
Local Global Oil Price Benchmark Slumps To $19 April 21, 2020 Ekemini The global oil price benchmark, Brent crude, has extended its decline, plummeting to $19 per barrel on Tuesday, amid the demand collapse caused by reduced economic activity. Brent, against which…
World French Court To Issue Verdict In Amazon Case On April 24: Judge April 21, 2020 Ekemini A verdict in a case involving U.S. e-commerce giant Amazon will be issued by the Court of Appeal in Versailles on April 24, a French judge said on Tuesday. Amazon…
Features World What’s A Negative Crude Future And Does It Mean Anything For Consumers? April 21, 2020 Ekemini The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy…
Local Nigerian Port Authority Extends Demurrage-Free Period To April 26 April 20, 2020 Ekemini Following its directive to terminal operators to suspend all applicable storage fees on consignments (demurrage) for 21 days effective March 23, the Nigerian Ports Authority has directed that additional 14…
World Coronavirus: Empty Resorts Spell Long Crisis Across The Caribbean April 20, 2020 Ekemini The nearby airport, the lifeblood of Varadero’s economy, closed after Cuba shut its borders two weeks ago to protect against the spread of the new coronavirus. Now, undisturbed by tourists,…
Local IMF May Need ‘Exceptional Measures’ To Facilitate Pandemic Response: Georgieva April 20, 2020 Ekemini The International Monetary Fund may need to step outside its comfort zone and consider “exceptional measures” to help countries deal with the coronavirus pandemic and mitigate its economic impact, Managing…
Local World Oil Plunges Further To Below Zero For First Time In Unprecedented Wipeout April 20, 2020 Ekemini Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil…
World Market Wrap April 20, 2020 Ekemini “Given that the policy focus from governments and central banks has been to support the corporate sector, we like investment grade credit,” says Generali Investment’s Vincent Chaigneau.
World Oil Plunges Below $10 With Traders Fleeing Expiring Contract April 20, 2020 Ekemini U.S. benchmark falls the most since trading began in New York. WTI May contract drops as much as 56% before Tuesday expiry. Oil Prices Will Remain Low in Short-Term: Goldman…
World Bahrain Follows Saudi Arabia, Oman With Budget Cuts Amid Crisis April 20, 2020 Ekemini Bahrain became the latest nation in the oil-rich Gulf to announce drastic spending cuts, an effort to stretch the budget at a time the crash in oil prices and measures…
Banking World JPMorgan Asset Seeks Collateral Protection in Private Lending April 20, 2020 Ekemini JPMorgan Asset Management is prioritizing lending to companies with high-quality assets as more cash-hungry borrowers need fresh funding. The firm has recently had “ample opportunity to match our capital with…
World U.S. Restaurants On Track To Lose $240 Billion By End of 2020: Survey April 20, 2020 Ekemini U.S. restaurants are on track to lose $50 billion in April, with losses mounting to an estimated $240 billion by the end of 2020, as the coronvirus crisis ravages the…
