‘Deregulation Will Reduce Corruption In Oil Industry’
Members of the Major Oil Marketers Association of Nigeria (MOMAN) , a group comprising 11 Plc, Conoil Plc, Forte Oil Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited and…
Nigerian Currency Gains 37 Kobo At Investors’ Window, Sells At N385.63/$1
The Naira came out stronger against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Monday, November 2, gaining 37 kobo or 0.10…
Biden Leads Trump In National Polls, But Key States Tighten On Election Eve
Former Vice President Joe Biden’s consistent polling lead over President Donald Trump is showing signs of narrowing in key swing states on the eve of the election. Biden still holds…
European Markets Close Higher On Upbeat Manufacturing Data; Ocado Up 8%
LONDON — European stocks closed higher on Monday as promising manufacturing data out of the euro zone and China boosted sentiment. COMPANY NAME PRICE CHANGE %CHANGE VOLUME .FTSEFTSE 100FTSE5654.9777.701.39755064631.GDAXIDAXDAX11788.28231.802.0178370759.FCHICAC 40…
Oil Reverses Steep Loss To Gain Nearly 3% Despite Rising Covid-19 Cases
Oil prices gained more than 2% Monday, shaking off earlier losses, as the United States heads into a contentious U.S. presidential election. The oil market has been under pressure in…
Gold Rises As Pandemic Worsens, U.S. Elections In Focus
Gold prices gained on Monday on uncertainty surrounding the outcome of Tuesday’s U.S. presidential election, while a spike in global coronavirus cases exacerbated fears about an economic recovery, further boosting…
Why Remittances To Nigeria’s Economy Slumped
Monies sent from Nigerians living abroad is beginning to dry up. Remittance inflows that for long have been a significant source of external financing for Nigeria and shown a resistance…
A Rough And Rocky Road Ahead For Nigeria’s Economy?
Africa’s largest economy commenced the final quarter by facing some of the biggest protests witnessed since military rule ended in 1999. The protests boiled over during an already turbulent and…
Apple Announces Event For Nov. 10 Where New Macs With Apple Chips Expected
Apple announced on Monday an event for Nov. 10 where it’s expected to announce new Macs. The launch event will begin at 10 a.m. PT and will be livestreamed on…
AMC Seeks Stock Sale To Raise $50 Million To Stave Off Bankruptcy
AMC, starved for cash, is looking to sell up to 20 million class A shares to secure nearly $50 million in new capital, according to an SEC filing published Monday.…
How Fintech Companies Revolutionised Banking
The advent of financial technology (fintech) companies have changed the dynamics in the nation’s banking and financial service landscape with Nigerians hitherto financially excluded now being able to access banking…
Wall Street Rebound Accelerates As Dow Jumps More Than 500 Points
Stocks jumped on Monday, the first trading day of the month, as markets tried to recover from a brutal week and month ahead of the U.S. presidential election. The Dow…
An $11 Trillion Global Hydrogen Energy Boom Is Coming. Here’s What Could Trigger It
Some 130 miles south of Salt Lake City, engineers are working on what will become a giant cavity in the ground. It’s a geological formation known as a salt dome,…
Dow Jumps More Than 400 Points As Wall Street Rebounds From Worst Week Since March
Stocks jumped on Monday, the first trading day of the month, as markets tried to recover from a brutal week and month ahead of the U.S. presidential election. The Dow…
Supreme Court, With Justice Barrett, To Hear Major LGBT Rights Case Day After Election
The Supreme Court is set to hear a case concerning the rights of gay and lesbian Americans on Wednesday morning in a dispute that advocates are warning could pierce holes…
America’s Malls Under Pressure: CBL, Pennsylvania REIT, File For Bankruptcy
Mall owners CBL & Associates and Pennsylvania Real Estate Investment Trust have filed for Chapter 11 bankruptcy protection, highlighting the pressures the retail real estate industry is facing because of…
McDonald’s Hires Reginald Miller As Diversity Chief Amid Corporate Turmoil
McDonald’s is hiring a new chief diversity officer as it struggles with charges of harassment and racism at all levels of the company. Reginald Miller will become the company’s global…
To Save Nigeria, Fayemi, El-Rufai Insist Restructuring Is The Way Out
The Chairman of the Nigerian Governors’ Forum (NGF) and Ekiti State Governor, Dr. Kayode Fayemi with his Kaduna State counterpart, Governor Nasir El-Rufai, yesterday, reiterated the need for restructuring the…
‘Fundamentals Investors Should Look For As Markets Change’
NIGERIAN financial markets are trading on opposing sides, declining yields in the fixed-income market is fuelling a rebound in the equities market while the regulated currency market is moderating, undulated…
Euro, Yen Implied Volatility Highest Since April As Traders Prep For U.S. Election
One-week implied volatility gauging levels in the euro and the Japanese yen rose to their highest since beginning of April, reflecting traders’ angst ahead of the U.S. election on Tuesday.…
Dollar In Narrow Range Ahead Of U.S. Election, Pound Weakens
The U.S. dollar steadied on Monday as investors prepared for U.S. presidential elections on Tuesday, while a surge in global coronavirus cases continued to weigh on sentiment. The greenback held…
Oil Falls To Five-Month Low As Lockdowns And Libya Spook Market
Oil kicked off what promises to be a turbulent week of trading by plunging to a five-month low as a continued increase in Libyan crude production coincided with a wave…
Low, Middle Income Countries To Attract $508b Remittances
THE World Bank has projected that remittances by migrant workers to low and middle income countries (LMICs) will drop to $508 billion in 2020. In a migration and development report…
Nigerian Stocks Hit 16-Month High As Company Results Ease COVID Concerns
Nigerian stocks soared to a more than 16-month high on Friday as funds piled into equities, propelled by low interest rates and as early third-quarter corporate earnings showed some companies…
Nigeria’s E-Government Summit To Attract Foreign Participation
Nigeria and six foreign countries will be participating and showcasing their e-Government experiences at this year’s Nigeria e-Government Summit that is geared towards accelerating online presence of the Nigerian government…
NPA’s Services, Port Operations Not Interrupted Despite Attack – Usman
Hadiza Bala Usman, managing director of the Nigerian Ports Authority (NPA) has assured all port users and other stakeholders that port operations and other related services have continued seamlessly after…
Dollar Holds Gains On U.S. Election Caution, COVID-19 Cases
The U.S. dollar held steady on Monday as investors readied for this week’s U.S. presidential election, while a surge in global coronavirus cases continued to weigh on sentiment. The greenback…
26-Year-Old Circulating Fake Naira Notes Arrested
A 26-year-old, identified as Eson Fatgoel, has been arrested by the Adamawa State Police Command for circulating and spending fake Naira notes in the State. The suspect was apprehended on…
Foreign Portfolio Investments Drop By N178.7b In Q3
FOREIGN portfolio transactions in the Nigerian markets declined by N178.66billion to N510.25 billion by third quarter 2020 as foreign investors continued selloff amid concerns over foreign exchange control, illiquidity and…
Consumers’ Confidence In The Economy Dropped In Q3 — CBN Report
Consumers’ confidence in the economy dropped in the third quarter of the year, according to a survey by the Central Bank of Nigeria. The statistics department of the CBN disclosed…