Pound Rallies After Bank Of England Pumps Extra Cash Into The Economy, Just As A National Lockdown Starts
The pound rallied on Thursday, heading for its biggest weekly gain since late September, despite the implementation of a lockdown…
Month: November 2020
Fintech Bluecode Aims To Light Up Nigeria’s Informal Economy
The Bluecode payments solution is about to go live in Nigeria with two partner banks, Murray Gardiner, managing director of…
Airlines’ ‘Bait-And-Switch’ Strategy Lures Customers To Flights That Never Take Off
OTTAWA — Despite minuscule travel demand, Canadian airlines continue to schedule tens of thousands of monthly flights, only to cancel…
Oil Falls On Surging Virus While U.S. Election Adds Uncertainty
Oil dropped below $38 a barrel as surging coronavirus cases and a tightly contested U.S. election sapped momentum from crude’s…
Canadian Dollar Stays On Track For Best Week Since June
The Canadian dollar weakened against its U.S. counterpart on Friday but stayed on course for its biggest weekly advance since…
Over 82.9 Million Nigerians Currently Living Below Poverty Line
With over 82.9million Nigerians currently living below the poverty line, there is a need to urgently tackle poverty to get…
Shipping Can Contribute 5% To GDP Annually – NIMASA Boss
Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Bashir Jamoh, has said that a developed shipping industry has…
FG To Establish Solid Minerals Processing Hubs
The Federal Government plans to establish solid mineral processing hubs in the six geopolitical zones of the country. While speaking…
FG Requires $656m To Complete Lagos-Ibadan Rail Line
The Minister of Transportation, Rotimi Amaechi on Friday said that the Federal Government requires the sum of N $656million to…
Buhari Admits Nigeria Is Facing ‘Turbulent Times
Nigeria’s President Muhammadu Buhari on Thursday ruminated on Nigeria’s current economic situation, admitting that the country is facing “turbulent times”.…
Famed Luxury Carmaker Bentley To Go Fully Electric By 2030
Bentley Motors plans to exclusively offer plug-in hybrid and electric vehicles by 2026 and fully electric models by 2030, the…
Bitcoin Now N7.2m At Crypto Market As Naira Falls To N465/$
The digital token’s latest rally comes as the outcome of Tuesday’s US presidential election remains uncertain. Possible election turmoil, coupled…
US Election 2020 Results: How Nigeria Will Benefit If Biden Defeats Trump
The candidate of the Democratic Party, Joe Biden, is almost certain to become the 46th US President. At the time…
UK Names New Trade Envoy To Nigeria
The United Kingdom Government has confirmed the appointment of Helen Grant MP, a British-Nigerian, as a new trade envoy to…
Nigeria Reaching Maximum Borrowing Capacity
Nigeria is almost reaching its maximum capacity to borrow and must be proactive in ramping up tax revenue collection, the…
GM Plans To Increase Pickup Truck Production With Up To $1 Billion Investment In Canada
General Motors plans to significantly increase production of its highly profitable pickup trucks by investing up to $1 billion in…
How Many Bank Accounts Should You Have & Which Ones
The number of bank accounts you really need is up to your personal spending, but traditionally, just two accounts –…
Bitcoin Surge Widens Crypto’s Lead Over Gold As Top Asset Of 2020
Bitcoin’s surge during U.S. election week has pulled cryptocurrency performance further ahead of major asset classes this year. The Bloomberg…
Multiple Customs Clearing Units Cause Stir
Importers and clearing agents have continued to frown at bottlenecks affecting clearing at the ports, noting that they are causing…
Naira Continues To Decline At Black Market Despite Huge Dollar Supply
Forex turnover improved significantly by 536.7% as Nigeria’s exchange rate at the NAFEX window maintained its stability against the dollar…
WhatsApp Introduces Messages That Delete After Seven Days
Facebook Inc.’s WhatsApp will roll out disappearing messages to users this month, which will delete posts in a chat after…
China Bans Non-Chinese Arrivals From UK As England Enters Lockdown
China has barred non-Chinese travellers from the UK, Belgium and the Philippines, imposing new border restrictions in response to the…
Banks’ Borrowings From CBN Crashes By 93%
MONEY MARKET Deposit Money Banks’ reliance on the loans from the Central Bank of Nigeria (CBN) fell sharply by 93…
Why Oil Prices May Be Set To Fall Further
The main oil benchmarks fell below $40 a barrel again this week as clouds gathered over the outlook for demand…
Dollar Slumps To Two-Month Low, Investors See More Weakness On U.S. Election
The dollar sank to its lowest level in over two months against against a basket of peer currencies on Friday,…
Sterling Eyes Weekly Gain Vs Dollar In Choppy Markets
Sterling was on track for a weekly gain versus the dollar on Friday in choppy markets, as traders digested high…
Nigerian Banks To Fail Stress Tests Should Economic Slump Deepen
Nigerian lenders will drop below minimum capital buffers required by regulators should the economy shrink further this year, according to…
Oil Prices Are Set To Go Higher Next Year
As predicted, a second wave of COVID-19 is wreaking havoc on the world economy with many European nations contemplating new…
Four OPEC+ Members Favor Extended Cuts
Three members of OPEC and Russia are in favor of an extension of the current oil production cuts agreed by…
COVID-19: China Bars Nigerians, Others From Entry
The Chinese authorities have temporarily suspended entry into China by Nigerians and other nationals in Nigeria holding valid Chinese visas…