Business Italy Struggles To Clinch Deal For Single Broadband Network July 31, 2020 Ekemini The Italian government needs more time to broker a deal between former phone monopoly Telecom Italia (TLIT.MI) and state-controlled utility Enel (ENEI.MI) over plans to create a single ultrafast broadband…
Business World Outlook For U.S. Value Stocks Uncertain With Cloudy Economic Picture July 31, 2020 Ekemini After a rally led by growth companies that has left the S&P 500 index .SPX roughly 4% from setting a new record high, the window of opportunity for value stocks…
Business Investors Raise Cash As U.S. Recovery Wobbles; Options Strategies Profit July 31, 2020 Ekemini Investors are preparing their portfolios for a potentially rocky patch in U.S. stocks, worried that a dramatic rebound in equities may stall amid dimming economic data and rising political uncertainty.…
Business World Global Funds Favour Bonds Over Stocks On Surging Coronavirus Infections July 31, 2020 Ekemini Global funds recommended cutting equity holdings in July to the lowest in four years and suggested keeping bond allocations unchanged from June, amid worries the coronavirus pandemic is hobbling a…
Business World Dollar Heads For Biggest Monthly Drop In A Decade As Virus Fuels U.S. Economy Fears July 31, 2020 Ekemini The dollar extended its dramatic fall on Friday, putting it on course for its biggest monthly drop in a decade as investors fretted that a rebound in the U.S. economy…
Local Arik Air To Resume Flights To Jos, Benin, 2 Others July 31, 2020 Ekemini Arik Air has resumed services to four additional airports in Nigeria namely; Benin, Jos, Owerri and Asaba. It said this move is part of its phased restart of domestic flight…
Local AIB Begins Investigation As Two Aircraft Collide At Lagos Airport July 31, 2020 Ekemini The Accident Investigation Bureau says it will investigate a collision involving Middle East Airline and a Turkish plane at the Murtala Mohammed International Airport, Lagos. The incident occurred on Wednesday…
Business Wired Transfers Hit N477/$1 At Black Market July 31, 2020 Ekemini Exchange rate disparity between the parallel and black market remains as high as N85.75 Nigeria’s exchange rate at the NAFEX window appreciated to N389.25 during intraday trading on Wednesday July…
Local Nigeria: MAN Supports Forex Unification July 31, 2020 Ekemini The Manufacturers Association of Nigeria (MAN) has described the unification of the country’s Foreign Exchange (forex) windows by the Central Bank of Nigeria (CBN) as gratifying and a welcome development,…
Local Apapa Gridlock: Customs Agents Petition FG Over 500% Increase In Costs July 31, 2020 Ekemini Some Customs agents in the country have called on the federal government to immediately address the deficiency and high cost of clearing goods at the ports. In a petition to…
Business The Dollar’s Leading Rivals All Have Their Own Drawbacks July 31, 2020 Ekemini A guide to the pros and cons of the euro, gold, crypto, and the other potential replacements for the dollar. The dollar’s rise to become the dominant currency started after…
Business Starved Of Dollars, Nigerian Businesses Struggle For Survival July 31, 2020 Ekemini As women in hairnets and anti-coronavirus masks sort through folded nappies coming off a conveyor belt, the head of the Nigerian firm they work for wonders how much longer he…
Local Nigeria: Local Production Suffers Continued Contraction As PMI Hits 44.9% July 31, 2020 Ekemini Purchasing Managers’ Index (PMI) for the manufacturing sector has continued to reflect the sector’s weaknesses as regards production, new orders, and employment levels. According to the latest data released by…
Banking Local Nigeria: People Fear They’ve Got Too Much Cash In Their Bank Accounts July 31, 2020 Ekemini Falling interest rates are tempting some Americans to forego safety and pour their savings into assets such as stocks and bitcoin. The savers are getting restless. Running out of guaranteed…
Local Nigeria: Cautious Optimism As Nations Ease Flight, Tourism Restrictions July 31, 2020 Ekemini More countries are opening up the international airspace for commercial airlines and tourism to resume. Travellers will however find that some of the conditions are not encouraging for immediate travel…
Local IMF Introduces New Transparency Code For Nigeria, Others July 31, 2020 Ekemini The executive board of the International Monetary Fund has approved the new IMF Central Bank Transparency code. It said in a statement on Thursday that the development of the CBT…
Local Nigeria: The Return of Wharf Rats July 31, 2020 Ekemini Eromosele Abiodun writes on the alarming rate of pilfering at terminals across the nation’s seaports Last week, vehicle importer, David Okanlawon discovered that the vehicle he imported into Nigeria and…
World Emirates Expands African Connections July 31, 2020 Ekemini Emirates has announced it will resume flights to Nairobi from August 2, 2020, Baghdad and Basra will follow from August 10. The airline is thus expanding its growing network, and…
Business Local Nigeria: ‘Businesses Lost Hope On Economic Growth In July’ July 31, 2020 Ekemini The July 2020 Business Expectations Survey Report of the CBN has shown that firms are pessimistic on the macro economy growth prospects for July 2020, with a -7.9 index point…
World Human Trafficking Worse In US Than Nigeria July 31, 2020 Ekemini The 2020 trafficking in-person report had placed Nigeria on a tier-two watch list, meaning that Nigeria failed to meet the minimum standards of compliance as regards human trafficking. The National…
Business Local CBN’s Ban On Forex For Import Boosts Interest In Maize, Fish Farming July 31, 2020 Ekemini In furtherance of government’s efforts to drive Nigeria towards food sufficiency, Agribusiness firm, Eatrich Farms, has launched the Green Africa Project (GAP), which involves large-scale maize farming, fish and livestock…
Africa Business Digital Financial Inclusion – Kenya And Nigeria Case Studies July 31, 2020 Ekemini Digital financial services are both broadening and speeding up financial inclusion in many African countries – a key factor in accelerating economic growth. In this study, Rafiq Raji looks at…
Business Oil Gains On Sharp US Crude Inventory Drop July 31, 2020 Ekemini Oil prices edged up on Wednesday after a steep drop in U.S. crude inventories, but another record day for COVID-19 cases worldwide kept gains in check. Brent crude futures gained…
Business Foreign Trade Knowledge Vital To Exporters, Importers July 31, 2020 Ekemini Sterling Bank Plc has reiterated the need to educate exporters and importers of goods on how to manage the changes created by the COVID-19 pandemic in accessing foreign exchange for…
Local Nigeria: FG To Check Temporary Import Permit Abuse July 31, 2020 Ekemini The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigeria Customs Service (NCS) have agreed to join forces to close loopholes in the Temporary Importation Permit (TIP) system that…
Business Gold Prices Could Hit $3,500 In Two Years July 31, 2020 Ekemini The gold market is “very strong and could hit $3,500 in two years,” according to Barry Dawes of Martin Place Securities. Garth Bregman of BNP Paribas Wealth Management said he…
Business ‘We Are On Our Own’: Experts Call For Overhaul Of African Investment Post-Coronavirus July 31, 2020 Ekemini Many African nations are not borrowing as much as those in developed markets, but are charged at much higher rates for debt due to demand for higher risk premiums from…
Local Nigeria: Consortium To Transform Cassava Peels Into Energy July 31, 2020 Ekemini Several companies and organisations have recently joined forces to recycle cassava waste in rural Nigeria. They will transform the peels of the tuber into electricity to supply farmers in rural…
Business Local OPEC-Nigeria Talks Discuss Market Recovery After Covid-19 July 31, 2020 Ekemini The OPEC-Nigeria Bilateral Meeting that took place last week has sent yet another signal of the strong dialogue and cooperation between OPEC and Africa’s biggest producing country. Such a dialogue…
Local Hajj Pilgrimage In The Age Of Coronavirus Is Unlike Any Before July 31, 2020 Ekemini Saudi Arabia radically downsizes annual Islamic pilgrimage Pandemic means socially distanced prayers, bottled holy wate Holy water will be consumed from single-use bottles. Pilgrims will get sterilized pebbles to throw…
