Real Time Financial News Website
The pound rallied on Thursday, heading for its biggest weekly gain since late September, despite the implementation of a lockdown in much of UK, as investors took solace in the…
The Bluecode payments solution is about to go live in Nigeria with two partner banks, Murray Gardiner, managing director of Bluecode Africa, tells The Africa Report. The unnamed banks will…
OTTAWA — Despite minuscule travel demand, Canadian airlines continue to schedule tens of thousands of monthly flights, only to cancel the vast majority of them several weeks before departure in…
Oil dropped below $38 a barrel as surging coronavirus cases and a tightly contested U.S. election sapped momentum from crude’s strong start to the week. Futures in New York dropped…
The Canadian dollar weakened against its U.S. counterpart on Friday but stayed on course for its biggest weekly advance since June, as the greenback broadly fell and domestic data showed…
With over 82.9million Nigerians currently living below the poverty line, there is a need to urgently tackle poverty to get the economy back on track, according to ActionAid Nigeria. The…
Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Bashir Jamoh, has said that a developed shipping industry has potential to contribute about five percent to the nation’s economy.…
The Federal Government plans to establish solid mineral processing hubs in the six geopolitical zones of the country. While speaking at the 2020 Nigeria Mining Week, the Minister of Mines…
The Minister of Transportation, Rotimi Amaechi on Friday said that the Federal Government requires the sum of N $656million to complete work on the Lagos-Ibadan railway project. Amaechi who spoke…
Nigeria’s President Muhammadu Buhari on Thursday ruminated on Nigeria’s current economic situation, admitting that the country is facing “turbulent times”. The president stated this at a meeting with the National…
Bentley Motors plans to exclusively offer plug-in hybrid and electric vehicles by 2026 and fully electric models by 2030, the British luxury carmaker said Thursday. Bentley, which is owned by…
The digital token’s latest rally comes as the outcome of Tuesday’s US presidential election remains uncertain. Possible election turmoil, coupled with the prospect of continued government spending and easy monetary…
The candidate of the Democratic Party, Joe Biden, is almost certain to become the 46th US President. At the time of filing this report, Biden had taken the lead in…
The United Kingdom Government has confirmed the appointment of Helen Grant MP, a British-Nigerian, as a new trade envoy to Nigeria. A statement on Thursday explained that UK Trade Envoys…
Nigeria is almost reaching its maximum capacity to borrow and must be proactive in ramping up tax revenue collection, the Kaduna State Governor, Nasir El-Rufai, said on Thursday. El-Rufai lamented…
General Motors plans to significantly increase production of its highly profitable pickup trucks by investing up to $1 billion in its Canadian operations. The investment is part of a tentative…
The number of bank accounts you really need is up to your personal spending, but traditionally, just two accounts – checking and savings – will do. There is an old…
Bitcoin’s surge during U.S. election week has pulled cryptocurrency performance further ahead of major asset classes this year. The Bloomberg Galaxy Crypto Index of digital currencies, including Bitcoin, is up…
Importers and clearing agents have continued to frown at bottlenecks affecting clearing at the ports, noting that they are causing huge financial losses. They specifically alleged that they passed through…
Forex turnover improved significantly by 536.7% as Nigeria’s exchange rate at the NAFEX window maintained its stability against the dollar to close at N386/$1 during intra-day trading on Thursday, November…
Facebook Inc.’s WhatsApp will roll out disappearing messages to users this month, which will delete posts in a chat after seven days, mirroring rival platforms such as Signal. The function…
China has barred non-Chinese travellers from the UK, Belgium and the Philippines, imposing new border restrictions in response to the worsening Covid-19 pandemic. The Chinese embassy in the UK said…
MONEY MARKET Deposit Money Banks’ reliance on the loans from the Central Bank of Nigeria (CBN) fell sharply by 93 percent in August, driven by surge in idle cash (excess…
The main oil benchmarks fell below $40 a barrel again this week as clouds gathered over the outlook for demand and supply amid a surge in Covid-19 cases in Europe…
The dollar sank to its lowest level in over two months against against a basket of peer currencies on Friday, as vote counting for the contentious U.S. election dragged on…
Sterling was on track for a weekly gain versus the dollar on Friday in choppy markets, as traders digested high U.S. political drama and a fresh splurge of bond buying…
Nigerian lenders will drop below minimum capital buffers required by regulators should the economy shrink further this year, according to stress tests done by the Central Bank of Nigeria. The…
As predicted, a second wave of COVID-19 is wreaking havoc on the world economy with many European nations contemplating new shut downs. It looks like it will be a tough…
Three members of OPEC and Russia are in favor of an extension of the current oil production cuts agreed by OPEC+ in April this year, Iraqi news agency Shafaq has…
The Chinese authorities have temporarily suspended entry into China by Nigerians and other nationals in Nigeria holding valid Chinese visas or residence permits due to the COVID-19 pandemic. It was…