Central Bank ‘Punch Bowl’ Still Brimming For Markets
Central bank support for pandemic-hit economies looks to endure well past the recovery in output, leaving investors little option but to keep chasing a parabolic bull market until the fabled…
After Many Threats, Google Begins Paying For News In Australia
In January, Google threatened to make its search engine unavailable in Australia if the government approved legislation that would force tech companies to pay for journalism shared on their platforms.…
IT Solution Recognised As Key Digital Platform
Omdia, formerly Ovum, one of the world’s leading research and consultancy company, has featured Comviva’s mobiquity Banking Suite as one of the key digital banking platform globally in its recently…
Online Fraud Rising As More Nigerians Fall Victims
Increasing number of Nigerians count their losses as activities of cybercriminals continue to rise year-on-year (Y-o-Y) basis. A report from the Nigeria Inter-Bank Settlement System Plc (NIBSS) entitled, ‘Fraud in…
Nigeria Must Pay Close Attention To Rising Interest-To-Revenue Ratio – International Monetary Fund Warns
The high cost of servicing Nigeria’s debt compared to the revenue it generates (interest-to-revenue ratio) is an indicator Africa’s largest economy must pay urgent attention to its swelling debt servicing…
Federal Government Of Nigeria Seeks $1.2bn Loan To Fund Agriculture
The Federal Government has disclosed plans to borrow $1.2 billion to boost the country’s agricultural sector under what it called the Green Imperative Project (GIP), adding that it would be…
International Monetary Fund Backs Central Bank Of Nigeria, Cautions against Cryptocurrency Transactions
The International Monetary Fund (IMF) has cautioned against transacting in cryptocurrency, saying regulating the digital currency remains a concern not just to the Central Bank of Nigeria (CBN) but to…
FX Market: Central Bank Of Nigeria Intervened With $10.308bn In Six Months
The Central Bank of Nigeria (CBN) sold a total of $10.308 billion in the foreign exchange (FX) market in the first six months of 2020. The banking sector regulator disclosed…
Federal Government Of Nigeria Targets 500,000 Employees Under Survival Fund Scheme
The Federal Government has announced a plan to support over 500,000 employees with a N30,000 one-off grant, noting that the initiative is to cushion the effects of COVID-19 on the…
Ehingbeti: Experts Urge Goverment On Digital Policy Consistency
Technology experts at the ongoing Lagos State Economic Summit, Ehingbeti, have stressed the need for governments to maintain policy consistency for technological innovations to drive development as Nigeria is gradually…
Bears Maintain Dominance On NSE, Market Drops Further By N15Bn
The bears maintained leadership on the Nigerian Stock Exchange (NSE) on Wednesday with investors losing N15 billion due to persistent profit taking on blue chips. Specifically, the market capitalisation dipped…
$3.5bn Loan: Nigeria Not Fully Complying With Terms – International Monetary Fund
International Monetary Fund (IMF) has accused the Federal Government of reneging on some of the conditions it promised to keep in the utilisation of the $3.5 billion loan it provided…
Texas Clamps Down On Out-Of-State Gas Sales Amid Shortages
Texas is restricting the flow of natural gas across state lines in an extraordinary move that some are calling a violation of the U.S. Constitution’s commerce clause. Texas Governor Greg…
Apple lobbies For India Incentives As It Plans IPad Assembly
Apple Inc is angling to participate in a new scheme to boost India’s exports of computer products, part of what government and industry sources say are plans to bring iPad…
Texas Energy Freeze Stretches To Sixth Day, Raises Mexico’s Ire
Texas’s freeze entered a sixth day on Thursday, as the largest energy-producing state in the United States grappled with massive refining outages and oil and gas shutins that rippled beyond…
Credit Suisse Targets Lending Volume After Better-Than-Expected Fourth-Quarter Loss
Credit Suisse on Thursday said it plans to up lending volume and capitalise on a boom in share listings, to shore up revenue after low interest rates and legal charges…
Barclays Resumes Dividend Payouts As Annual Profit Halves
Barclays has resumed shareholder payouts after a year-long hiatus due to the COVID-19 pandemic, setting expectations other British lenders will follow suit when they report full year earnings in the…
Yuan Hits 2-1/2 Year High On China Inflows
(AFP) HONG KONG: Vaccine rollouts and economic recovery expectations drove the reflation trade further in Asia. Japan’s Nikkei 225 index leapt 1.3%, Australia’s S&P ASX 200 added 0.7% and Hong…
Nigerian Court Blocks Shell’s Accounts Over Alleged Oil Theft
The respondents are the 20 banks where the Shell companies operate accounts in Nigeria The Federal High Court in Lagos has granted an interim mareva injunction directing commercial banks to…
Bitcoin Soars To New High Above $52,000; Sustainability Concerns Rise
Bitcoin surged to yet another record high on Wednesday, a day after the virtual currency vaulted to the $50,000 hurdle, even as analysts warned against the sustainability of such prices…
Central Bank Of Nigeria Directs Banks To Open Dollar Account For Remittances
The Central Bank of Nigeria (CBN) has mandated commercial banks to open new dollar account with offshore lenders for receiving international money transfers. The directive was disclosed by WorldRemit- an…
New York Attorney General Sues Amazon Over Covid Shortfalls
New York Attorney General Letitia James sued Amazon.com on Tuesday over its handling of worker safety issues around the Covid-19 pandemic at two warehouses, just days after the retailer filed…
Marketers Raise Petrol Price To N170, Depots Suffer Shortage
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations in Lagos and Ogun states…
US Sells $200m In Weapons To Egypt Despite Human Rights Abuses
The United States approved an arms sale worth nearly $200m to Egypt but vowed to press human rights issues after an American activist reported his family had been harassed. The…
Nigeria To Turn Central Bank’s $26 Bln Financing Into 30-Year Loan
Nigeria plans to convert 10 trillion naira ($26.3 billion) worth of short-term government financing by the central bank into a 30-year loan, the head of the debt office said on…
Interswitch Joins Nigeria’s $17Bn E-commerce Market With Quickteller Business
Interswitch-owned Quickteller has become the latest entrant in the Nigerian e-commerce market estimated at $17 billion. The payment unit announced on Wednesday the launch of Quickteller Business a platform that…
U.S. Producer Prices Post Biggest Gain Since 2009
U.S. producer prices increased by the most since 2009 in January as the cost of goods and services surged, suggesting inflation at the factory gate was starting to creep up.…
Walmart Investors Eye Push Into Advertising, Healthcare Following Pandemic Boom
Walmart Inc’s investors and analysts are likely to look past the retail giant’s slowest same-store sales growth since the start of the coronavirus crisis, when it reports quarterly results on…
A Nigerian Rivers Investment Firm Flees With Depositors’ Funds
AN investment company in Igwuruta, Obio/Akpor Local Government Area of Rivers State has left its customers devastated after their office was found shut on Tuesday. This came barely two months…
Nigeria: Declare State Of Emergency On Security, Senate Tells Buhari
The Senate on Wednesday asked the President, Major General Muhammadu Buhari (retd), to declare a state of emergency on security without further delay. The red chamber made the call following…