Egg Supply Tightens In Poland As EU Bird Flu Crisis Hits Industry
Avian influenza in Europe is now approaching levels last seen in 2016 with egg supply shrinking in Poland, one of the hardest hit countries due to the loss of laying…
UAE Weapons Maker EDGE Wants In On F-35 Supply Chain
United Arab Emirates’ state-owned weapons maker EDGE expects to be involved in the supply chain of Lockheed Martin’s F-35 war plane if the sale of U.S. planes to the Gulf…
South Africa’s Unemployment Rate Jumps To New Record High
South Africa’s unemployment rate jumped to a record high in the fourth quarter of last year, the statistics agency said on Tuesday, as the economy was further battered by the…
BlackRock Downgrades Government Bonds, Keeps Faith With Stocks
The world’s largest asset manager BlackRock has cut its stance on government bonds, preferring equities in light of the COVID-19 vaccine rollout and potentially up to $2.8 trillion of additional…
European Shares Gain On Higher Commodity Prices; HSBC Weighs
European shares rose on Tuesday as strong commodity prices helped outweigh mixed corporate earnings updates, while British bank HSBC fell after it abandoned its long-term profitability targets. HSBC Holdings dropped…
Nigerian 30b Benin Storm water Project Was A Fraud, Obaseki Declares
Edo State Governor, Godwin Obaseki, yesterday, declared that the N30b Benin stormwater project embarked upon by the previous administration was a ploy to defraud Edo people. Obaseki stated this while…
Facebook To Unban Australia News After Deal On Media Law
Facebook moved to lift a contentious ban on Australian news Tuesday, after a last-gasp deal on landmark rules requiring tech giants to pay media companies. Australia’s Treasurer Josh Frydenberg announced…
iPhone 12 Sales Propel Apple To Top Of Smartphone Market: Survey
Strong sales of iPhone 12 models lifted Apple to the top of the global smartphone market in the fourth quarter, a survey showed Monday. The report by market tracker Gartner…
Bitcoin Battles For Support At $50,000
Bitcoin dropped below $50,000 on Tuesday, as investors began to get a little nervous about the digital currency’s lofty valuation and some leveraged players took profit. The cryptocurrency dropped more…
Oil To Hit $70 In Second Quarter
Goldman Sachs Group Inc. has raised its price estimates and is predicting that Brent will reach $70 a barrel in the second quarter and $75 in the following three months,…
Pfizer’s COVID-19 Vaccine Gets Nod In South Korea From First Of Three Expert Panels
The first of three expert panels in South Korea reviewing a COVID-19 vaccine developed by Pfizer Inc and BioNTech gave its recommendation on Tuesday for the government to approve the…
Crypto-Trading May Go The Way Of Multiple Exchange Rates – Analysts
Like Nigeria’s multiple exchange rates which the Central Bank of Nigeria (CBN) has battled to converge in the last five years, crypto-trading in Africa’s largest economy may ride on the…
UK Jobless Rate Hits 5.1% As Sunak Readies More Job Support
Britain’s jobless rate rose to 5.1% in the last three months of 2020, its highest in nearly five years but still lower than it would have been without a huge…
Jay-Z Sells Half His Champagne Brand To LVMH’s Moet Hennessy
Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday the purchase of a 50% stake in rapper Jay-Z’s champagne brand, Armand de Brignac. The company said…
Dollar Pinned Near Six-Week Low As Focus Turns To Powell
The dollar nursed losses near a six-week low on Tuesday while commodity currencies loitered around multi-year highs, as investors’ focus shifted to how U.S. Federal Reserve chief Jerome Powell might…
Oil Prices Jump More Than $1 As U.S. Output Slow To Restart
Oil prices jumped by more than $1 on Tuesday, underpinned by optimism over COVID-19 vaccine rollouts and lower output as U.S. supplies were slow to return after a deep freeze…
Britain’s G4S Recommends $5.4 Billion Allied Universal Bid, Ending Takeover Tussle
Private security firm G4S on Tuesday recommended shareholders vote for Allied Universal’s final offer valuing the British firm at 3.8 billion pounds ($5.35 billion), after a rare auction ended a…
HSBC Curbs Profit And Payout Ambitions, Targets Asia Wealth
HSBC Holdings PLC on Tuesday abandoned its long-term profitability target, and unveiled a revised strategy focused mainly on wealth management in Asia after the COVID-19 shock saw its annual profits…
Exclusive: South African Upstart Bank Teams Up With JG Summit To Expand Into Philippines
South African digital bank Tyme has raised $110 million in private capital and linked up with JG Summit, one of the biggest conglomerates in the Philippines, to apply for a…
They Wanted To Jail A Banker – I Was That Banker
Tom Hayes, the first banker to be jailed for rigging interest rates, has told the BBC he believes fresh evidence will show his conviction was unsafe. It raises questions about…
WhatsApp Goes On Charm Offensive, Takes Shot At Telegram
Ahead of the release of an updated privacy policy that allows Facebook and its companies access to certain levels of users’ data, WhatsApp has again made efforts to explain the…
Alleged 69.4bn Debt: Court Vacates Order Against Jimoh Ibrahim’s Assets
The Federal High Court, Abuja, on Monday, set aside the interim order through which the Asset Management Corporation of Nigeria seized property belonging to a businessman, Jimoh Ibrahim, for an…
ICT Drove Economic Growth In 2020, Says Pantami
The Minister of Communications and Digital Economy, Dr Isa Pantami, has said the Information and Communications Technology sector recorded the highest growth rate among all the sectors of the Nigerian…
Investors Kick Against Concession Of Lagos Trade Fair Complex
An umbrella body for the 61 investors that secured different development lease agreements from the Federal Government through the Ministry of Industry, Trade and Investment and Trade Fair Management Board…
Insurance Sector’s Assets Hit N1.82tn On Recapitalisation Deadline
Despite the impact of COVID-19 pandemic on the economy, the insurance industry attracted some investments that boosted its assets, investigation has shown. Many of the underwriting firms started sourcing for…
With Rising Poverty, Unemployment, Nigeria Sitting on Time Bomb
The Financial Derivatives Company Limited (FDC) has stressed that Nigeria’s high unemployment (27.1%), its large youth population, as well as its poverty rates, mean that the country is effectively seating…
Private Investors Fault Central Bank Of Nigeria’s N50Bn Injection Into Commodity Exchange
Private investors in commodity exchanges have faulted the plan by the Central Bank of Nigeria (CBN) to inject N50 billion into the Nigeria Commodity Exchange (NCX), describing it as a…
Court Grants Okorocha’s ADC, Others N70m Bail
An Aide-de-camp to a former governor of Imo state, Eberendu Chiimechefulem, his legislative aide, Steve Asinuobi and 12 other aides of Rochas Okorocha, were on Monday granted a N5m bond…
Economic Recovery: Beneath The Wobbly Growth
As predicted, the economy has exited recession. But as expected also, at 0.11 per cent, the growth is fragile – a reason many economists have warned national economic managers to…
Buhari Sets Record As Nigerians Grow Poorer For Sixth Straight Year
At no point in its 60-year history has Nigeria’s economy expanded slower than its population for a longer period than between 2015 and 2020, an indictment on President Muhammadu Buhari…