Bitcoin, Ether Hit Fresh Highs
Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier. The world’s most popular cryptocurrency…
UK Economy Shows Signs Of Stabilisation After New Lockdown Hit
Britain’s economy has stabilised after a new COVID-19 lockdown last month hit retailers, and business and consumers are hopeful the country’s vaccination campaign will spur a recovery, data showed on…
JPMorgan Says Two Factors Could Drive Up Oil Prices By Another $5 To $10 Per Barrel
JPMorgan says crude prices could see further upside ahead as oil continues to see strong gains so far this year. It comes against the backdrop of an improving global outlook…
Sterling Soars Close To 3-Year High Above $1.40
The British pound soared above $1.40 on Friday for the first time in almost three years, propelled by a vaccination drive that has boosted economic recovery hopes. Sterling breached the…
Nigeria, 17 Others Testing 5G In Africa
New statistics from the Global mobile Suppliers Association (GSA) has revealed that Nigeria and some 17 countries in Africa are already testing 5G capability on the continent. Information gathered by…
African Union To Set Up Infrastructure Fund For The Continent
The African Union is setting up a fund to finance the construction of much-needed roads, railways and power plants on the continent, its infrastructure head said, turning to new sources…
Oil Extends Losses As Texas Prepares To Ramp Up Output
Oil prices fell from recent highs for a second day on Friday as Texas energy firms began to prepare for restarting oil and gas fields shuttered by freezing weather. Brent…
Bitcoin Climbs Above $52,000 As Musk Backs Crypto Over Cash
Billionaire Elon Musk defended Tesla Inc.’s $1.5 billion Bitcoin investment on Twitter, calling the cryptocurrency a “less dumb” version of cash. “When fiat currency has negative real interest, only a…
Dollar Slips Further After Disappointing Jobs Data, Sterling Shines
The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the…
Bitcoin Price Prints New High Above $52.5k, Will BTC/USD Reach $100k?
The Bitcoin price is steady at the time of writing on Feb 19. The world’s most valuable digital asset is now trading above $51k, after blasting above $50k on Feb…
Port Harcourt Refinery Overhaul To Begin Soon – Report
The Nigerian National Petroleum Corporation (NNPC) is now on track to undertake the complete overhaul of Nigeria’s biggest refinery billed to commence in the first quarter of 2021. S&P Global…
Inaccessible Spectrum Cut-Off 950m Africans From Internet
Despite continued progress in the expansion of mobile service and Internet connectivity, 50 per cent of Africans (680 million people) did not use mobile phone in 2019 while about 75…
Don’t Create Artificial Petrol Scarcity, Nigerian National Petroleum Commission Warns Marketers
The Nigerian National Petroleum Corporation (NNPC) has warned petrol marketers against hoarding Premium Motor Spirit (petrol) in order not to create hardship for Nigerians. In a press release on Thursday,…
Cryptocurrency Ban: A destructive Financial Policy
The news of the Central Bank of Nigeria (CBN) directive on the prohibition of banks/individuals from buying, selling and using cryptocurrency came as a shock to young Nigerians and the…
As Ghost Of Fuel Subsidy Removal Lurks Around
The benefits of the fuel subsidy removal far outweighs the pains associated with the expected rise in petrol pump price due to the upswing in crude oil price, writes Obinna…
World Trade Organization: Organise Private Sector Tempers Expectations From Okonjo-Iweala’s Regime
Members of the Organise Private Sector (OPS) have welcomed the announcement of Dr. Ngozi Okonjo-Iweala as the new Director General of the World Trade Organization (WTO) with cautious expectations, noting…
Nigeria’s Best And Worst Performing Sectors In 2020
The recently released GDP report by the National Bureau of Statistics shows that some sectors recorded growth despite a hard year of battling a pandemic and an economic recession. Although…
Experts Rate Economy As Weak Despite Exit From Recession
Nigeria exited recession after the country’s Gross Domestic Product recorded a slight growth of 0.11 per cent in the fourth quarter of 2020, the latest figures from the National Bureau…
Federal Government Of Nigeria, States, Local Governments Share N640.310 Billion In January 2021
The Federation Accounts Allocation Committee (FAAC) at the end its meeting on Thursday shared N640.310 billion to the three tiers of government as Federation Allocation for January, 2021. From the…
Chief Executive Of Japan’s Honda To Step Down, Hand Reins To R&D Chief
Japan’s second-biggest automaker by sales, Honda Motor Co, said on Friday its chief executive, Takahiro Hachigo, would step down and be replaced by Toshihiro Mibe, its head of research and…
UK Court Blocks Release Of HSBC Papers In Huawei CFO Fraud Case
A British judge on Friday blocked the release of internal HSBC documents relating to U.S. fraud allegations against Huawei Chief Financial Officer Meng Wanzhou. Meng is facing charges of bank…
Traders Rush To Supply Fuel To The U.S. As Texas Freeze Bites
Massive refining outages in the U.S. state of Texas due to freezing weather has led to a flurry of fuel tanker bookings from Europe, while several carriers were diverting away…
Bitcoin Steams To New Record And Nears $1 Trillion Market Cap
Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side…
Nigeria’s Economy Rebounds With 0.11% GDP Growth In Q4’20
Nigeria’s economy re-bounded in the fourth quarter of last year (Q4’20) as the nation’s Gross Domestic Product (GDP) grew year-on-year (y/y) by 0.11 percent, with aggregate GDP at N43.5trillion. The…
United Capital Approves N4.2Bn Dividend For Shareholders
The Board of Directors of United Capital Plc has approved the payment of N4.2 billion as dividend to shareholders for the year ended December 31, 2020. The dividend, which translates…
Global Stocks Mostly Fall Amid Angst At Inflation Risk
Global stock markets mostly fell Wednesday, with investors worried about high-flying share prices and the potential for inflation to spiral. On Wall Street, the Dow eked out another record, but…
Central Banks Need To Change Gear
It’s time for central banks to prepare financial markets to regain more influence over longer-term interest rates, braking the move toward fiscal dominance and alleviating the threat of another economic…
European Shares Rise On Upbeat Hermes Earnings; Renault Slides
European shares edged higher on Friday as an upbeat earnings report from Hermes boosted confidence in a broader economic recovery, although the benchmark STOXX 600 was set to snap a…
UK Retail Sales Slump In New Lockdown, Borrowing Less Than Expected
British retail sales tumbled in January as non-essential shops went back into lockdown, official data showed, but lower-than-expected public borrowing offered at least some relief to finance minister Rishi Sunak…
Renault Clings To Turnaround After Record $9.7 Billion Loss
Renault said on Friday that margins and sales had begun to recover in the second half of 2020 as it embarks on a turnaround plan, though the COVID-19 pandemic dragged…