Here’s The Nigerian Who Is Buying Shoprite’s Stake
Shoprite, Africa’s largest food retailer, announced on Monday it is considering selling off its majority share in its Nigerian subsidiary.…
Day: August 3, 2020
Thai Minister Threatens Facebook With Legal Action Over Restriction Requests
Thailand’s digital minister has threatened legal action against Facebook and accused the social media giant of not complying with government…
U.S. Auto Sales Pandemic Recovery Continues As Toyota Decline Slows
U.S. new vehicle sales in July continued to show signs of recovery from the coronavirus pandemic, as Toyota Motor Corp…
Govs Express Concern Over Nigeria’s Fragile Security, To Meet Buhari
The thirty six state governors Monday expressed concern over the fragile security situation in Nigeria. The governors also resolved to…
Shoprite Lifted By Sales Jump And Potential Nigeria Exit
Shoprite Holdings could become the latest South African retailer to retreat from other African markets after it said on Monday…
Nigeria’s Gross External Reserves: An Historical Perspective
The major objectives of external reserve management in Nigeria are ensuring the preservation of Capital, providing adequate liquidity to meet…
Next Big COVID-19 Treatment May Be Manufactured Antibodies
As the world awaits a COVID-19 vaccine, the next big advance in battling the pandemic could come from a class…
U.S. Manufacturing Activity Near 1-1/2-year High; Construction Spending Extends Drop
U.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence…
Checking Rising Incidence Of Unclaimed Dividend In Capital Market
Dividends are the distributable earnings of a company, which are determined by its board of directors. However, when declared, it…
$3.313bn Chinese Loans: Nigeria Pays $461m, Still Owes $3.12bn
Despite paying the sum of $461.89million (about 13.4 per cent ) of the $3.313billion debt (Chinese loans) owed the Peoples…
Nigeria: Eid-El Kabir: Errors Push PoS Failed Payments To 23%
Many Nigerians experienced declined transactions on Point of Sales terminals all over the country as PoS transactions failure rate hit…
Dow Rises 200 Points, Nasdaq Climbs To Record Led By Apple And Microsoft
Stocks rose on Monday, the first trading day of August, as Wall Street tried to build on its four-month winning…
Earnings, Microsoft Boost Wall St. As Investors Await Stimulus
Wall Street’s main indexes rose on Monday as Microsoft’s pursuit of TikTok’s U.S. operations and a clutch of upbeat quarterly…
Treasury Yields Bounce Slightly From Last Week’s Record-Setting Drop
Treasury yields edged higher on Monday following last week’s decline that pushed some of the frond-end rates to record lows.…
Nigeria: With Non-Interest Guidelines, CBN Widens Participation Scope Of Intervention Schemes
For years now and especially since the 2008 global financial meltdown, central banks in many developing and emerging economies, began…
Oil Steady As Virus Fears Counter Positive Factory Data
Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and…
Bitcoin Surpasses $12,000 Then Tumbles In Wild Weekend Action
Bitcoin reminded investors of both its promise and peril in trading this weekend. The world’s largest cryptocurrency rose to $12,112…
Nigeria: BoI Increases Support For MSMEs To N53bn
In demonstration of its commitment to the development of micro, small and medium scale enterprises (MSMEs) in the country, the…
Nigeria: Govt Moves To Reduce Oil Production Cost To $10
The Federal Government is working towards attaining a $10 per barrel production cost sealing in the oil and gas sector, the…
Concerns Mount Over Loan Agreement Clause Waiving Nigeria’s Sovereignty Immunity
Concerns mounted at the weekend over the rising trend of government officials signing loan agreements with a clause that waives…
Kenya Airways Resumes International Passenger Flights
Kenya Airways has announced that it has resumed international passenger services following the easing of movement restrictions as directed by…
No Stolen Nigerian Crude Oil In China
The Nigerian National Petroleum Corporation (NNPC) has clarified that it did not lose 48 million barrels of crude oil to…
Shoprite Begins Moves To Leave Nigeria
South African superstores, Shoprite Holdings Limited, has stated it will auction its outlets in Nigeria, The Nation can report. The…
Forex Scarcity Takes Toll On Manufacturing Sector
The liquidity crisis in the foreign exchange (forex) market is becoming increasingly unbearable as many businesses face challenges with importation…
Banks Implement New CBN Guidelines On Debt Recovery
Deposit Money Banks on August 1 commenced the implementation of the Central Bank of Nigeria’s Global Standing Instruction which allows…
U.S. Consumer Spending Rises For Second Straight Month, Income Drops Further
U.S. consumer spending increased for a second straight month in June. Consumer spending rose 5.6% last month after a record…
Oil Gains Nearly 1%, Posts Third Straight Month Of Gains
Oil prices rose on Friday and finished the month higher, benefiting from news that U.S. oil output cuts in May…
Here’s What Happened To The Stock Market On Friday
Dow Jones Industrial Average rises 114 points The Dow Jones Industrial Average rose 114.67 points, or 0.44%, to 26,428.32. The…
Dollar On Course For Worst Month In Decade As Epidemic Hobbles U.S. Economy
The dollar index fell to 92.597, a low last seen in May 2018, and is on course to post its…
Covid-19 Testing Delays Create A Public Health Nightmare As Schools And Workplaces Try To Reopen
Demand for Covid-19 tests far outstrips supply in the U.S. “The wheels have fallen off the wagon,” said Susan Butler-Wu,…