Dollar At Two-Month Highs As Resurgent Coronavirus Threatens Economy
The U.S. dollar reached a two-month high on Thursday as concern grew over the resilience of an economic recovery in…
Year: 2020
The Next Wave Of The Global Recovery Could Send Commodity Prices Soaring
The next phase of the economic recovery is likely to be driven by commodity-intensive infrastructure investment, analysts have told CNBC,…
Oil Drops After Warnings On U.S. Economy And Global Crude Demand
Oil dropped in London and New York following warnings over global energy demand and the state of the U.S. economy.…
ECB Hands Banks $203 Billion In Cheap Cash To Boost Lending
Euro-zone banks took 174.5 billion euros ($203 billion) in another dose of ultra-cheap funding as the European Central Bank gives…
Forex: PSN Seeks CBN’s Prioritisation Of Healthcare Industry
Pharmaceutical Society of Nigeria (PSN) has appealed to the Central Bank of Nigeria (CBN) to prioritise allocation of foreign exchange…
How To Register For FG’s N75 Billion MSME Survival Funds
The Federal Government (FG) has released the guidelines to access the N75 billion Micro, Small and Medium Enterprises (MSME) Survival…
Buhari’s Orders To The Central Bank Are Harming Its Credibility
RECENTLY, after reading, for the umpteenth time, about President Muhammadu Buhari’s “orders” to the Central Bank of Nigeria, CBN, I…
Nigerians In Switzerland Petition EFCC, SGF, Ministry Over Alleged Corruption In Embassy
Nigerian Youth Movement of Switzerland has written a petition letter to the Economic and Financial Crimes Commission (EFCC), Secretary to…
Shippers’ Council To Shut Bonded Terminals Over Illegal Charges
The Nigerian Shippers Council (NSC) has threatened to seal up Denca and Kachicares bonded terminals over illegal storage charges as…
Sterling Edges Higher Ahead Of Sunak’s Speech
Sterling edged slightly higher on Thursday ahead of an eventful day with Chancellor Rishi Sunak expected to unveil a new…
BDCs Seek Approval For Electronic FX Trading
The Association of Bureaux De Change Operators of Nigeria (ABCON) yesterday appealed to the Central Bank of Nigeria (CBN) to…
The Yen Could Rally Strongly Against The Dollar
SINGAPORE — Expect the Japanese yen to strengthen dramatically against the dollar in the long run, according to a prediction…
Purchasing Managers’ Index Contracts In September
The Manufacturing Purchasing Managers’ Index (PMI) stood at 46.9 index points in September, indicating contraction in the manufacturing sector for…
Nigeria, Others’ Production Cuts’ll Rebalance Oil Markets
The production cuts by the Organisation of the Petroleum Exporting Countries and its allies are expected to result in a…
Turkey Stuns With First Rate Hike Since 2018 Currency Crisis
Turkey’s central bank raised interest rates for the first time since a currency crisis in late 2018, surprising most economists…
Nigeria To End Fertilizer Importation By 2023
Citing the over 33 fertiliser blending plants across the country, currently producing about five million metric tonnes (MT) of fertilizer…
European Stocks Close Higher With Euro Zone Data In Focus; Adidas And Puma Shares Rise
European stocks closed higher Wednesday as investors reacted to key data releases from the euro zone and weighed up the…
Facebook To Reject Political Ads That Prematurely Claim Election Victory
Facebook said Wednesday it would not allow people to run ads on its services that declare victory in the November…
Should Front-Line Medical Workers Get The Coronavirus Vaccine First? Not Necessarily
Health workers treating patients with the coronavirus may be at the top of the line to get a vaccine once…
Grand Jury Indicts Former Louisville Cop Brett Hankison In Breonna Taylor Raid, But No Charges Related To Her Shooting Death
A grand jury on Wednesday indicted a former Louisville, Kentucky, cop, Sgt. Brett Hankison, on wanton endangerment charges connected to…
Amazon Says It Didn’t Build The ‘Prime Bike’ And Tells Echelon To Stop Selling It
Amazon is distancing itself from the $500 “EX-Prime” bike launched by exercise equipment maker Echelon Fitness, after the product was…
No-Deal Brexit To Hit UK Economy ‘Three Times As Hard’ As COVID-19
The economic damage of a no-deal Brexit would be “two to three times” greater than COVID-19 over the long run,…
Exclusive: Nigeria’s Buhari To Send Long-Awaited Oil Reform Bill To Senate
Nigerian President Muhammadu Buhari has signed a long-awaited oil-reform bill and it will be formally presented in the Senate as…
Fed Govt Eyes Forex From Methylformate
DEVELOPMENT of domestic capacity in methylformate-based innovations and production will boost the country’s foreign reserves and enhance its compliance status…
Wrong Economic Decisions Affect Nigerians, Says Sanusi
A former Emir of Kano, Muhammadu Sanusi II, has lamented the effects of wrong economic decisions on Nigerians. He said…
CBN’s Directive On Destination Payment For All Form M, Letter Of Credit And Other Forms Of Payment
The Central Bank of Nigeria (CBN) issued a Circular Ref. No. TED/FEM/FPC/GEN/ 01/005 of 24 August 2020 to the effect…
CBN Prepares For Recession, Reduces Benchmark Lending Rate To 11.5%
The Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate by 100 basis points from 12.5 per cent…
The Upward Creeping Foreign Exchange Rates: Blame The CBN
In recent times, any adjustment of FX rate by the CBN in an attempt to reduce the gap between the…
Low Remittance: FG To Deploy Revenue Directors To NPA, NIMASA, Others
Challenged by dwindling revenue and crippling debt amid the COVID-19 pestilence, the Office of the Accountant-General of the Federation (OAGF)…
British Lawmaker Expresses Concern Over Growing Violence In Nigeria
A member of the British House of Lords, Upper House of the Parliament of the United Kingdom (UK), Baroness Anne…