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…
Year: 2020
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,…
Nigeria: FG Moves To Rescue Trafficked Nigerian Ladies from Lebanon
The Federal Government has begun moves to rescue 30 trafficked Nigerian ladies from Lebanon. The victims had on Friday pleaded…
Kuwait Bans Commercial Flights from 31 Countries Over Covid-19
Kuwait suspended commercial flights from 31 countries on the advice of health authorities, just as the Gulf state re-opened its airport to…
Nigeria: Lagos Worship Centres To Reopen Aug 7
Religious centres in Lagos state will resume activities on August 7, 2020. Babajide Sanwo-Olu, governor of Lagos, announced this at…
Elon Musk Says ‘China Rocks’ While The U.S. Is Full Of ‘Complacency And Entitlement’
Elon Musk lamented the “entitled” and “complacent” character of people in the United States, and lauded the “smart” and “hard…
Goldman Expects New Tech Indexes To Bring China $25 Billion Passive Inflows In Five Years
Mainland China and offshore hub Hong Kong’s latest indexes representing technology companies are likely to attract $25 billion in five…
Nasdaq Surges On Megacap Earnings But U.S. Fiscal Uncertainty Nags
The Nasdaq jumped more than 1% on Friday, powered by strong earnings from some of the largest U.S. companies, but…
U.S. Makes Deal For 100 Million Doses Of Coronavirus Vaccine, Deaths Expected To Rise
Two major drug companies will supply the U.S. government with 100 million doses of an experimental coronavirus vaccine, the Trump…
Nigerians Suffering In Europe
The Founder of Napier Consulting Services, Roy Napier, has lamented the rate of exploitation of young Nigerians who travelled to…
Messy Business: Diaper Firm Struggles Without Dollars
Women in hairnets and masks are sorting through diapers coming off a conveyor belt. But the head of Wemy’s, the…
Banks Squeezed As CBN Shores Up Naira
Nigeria’s banks are expected to take a big hit to revenues and face rising borrowing costs this year as the…
Italy Struggles To Clinch Deal For Single Broadband Network
The Italian government needs more time to broker a deal between former phone monopoly Telecom Italia (TLIT.MI) and state-controlled utility…
Outlook For U.S. Value Stocks Uncertain With Cloudy Economic Picture
After a rally led by growth companies that has left the S&P 500 index .SPX roughly 4% from setting a…
Investors Raise Cash As U.S. Recovery Wobbles; Options Strategies Profit
Investors are preparing their portfolios for a potentially rocky patch in U.S. stocks, worried that a dramatic rebound in equities…
Global Funds Favour Bonds Over Stocks On Surging Coronavirus Infections
Global funds recommended cutting equity holdings in July to the lowest in four years and suggested keeping bond allocations unchanged…
Dollar Heads For Biggest Monthly Drop In A Decade As Virus Fuels U.S. Economy Fears
The dollar extended its dramatic fall on Friday, putting it on course for its biggest monthly drop in a decade…