“She’s Free”: Traffic In Suez Canal Resumes After Stranded Ship Refloated
Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship which had been blocking the busy…
Day: March 29, 2021
Crypto Shadow Banking Explained And Why 12% Yields Are Common
A swathe of shadow banks in the $1.6 trillion cryptocurrency market have figured out how to generate returns of 12%…
Explainer: Why Nigeria’s Central Bank Won’t Ease Its Grip On The Naira
Nigeria is keeping control of its naira currency despite demands for deeper reforms from the International Monetary Fund and World…
Bitcoin Rises As Visa Moves To Approve Crypto USD Coin
Bitcoin (BTCUSD=X) prices climbed as much as 3% by late-morning in London on Monday following yet more news of potential…
Stanbic IBTC, CAP, Lafarge Top Stocks To Watch This Week
Nigerian stocks were up by N436.250 billion in the week that just went by, buoyed by a number of impressive…
Nigeria Sets N50m Capital Base For Commodities’ Collateral Firms
Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), has set a minimum capital base of N50 million for…
Euro Set For Biggest Monthly Drop Since Mid-2019; Yen Shorts Grow
The euro languished below $1.18 on Monday as the prospect of tougher coronavirus curbs in France and Germany weighed on…
China Sanctions US, Canadian Citizens Over Criticism Of Treatment Of Uighurs
The European Union, Britain, Canada and the United States sanctioned several members of Xinjiang’s political and economic hierarchy this week…
Dollar Drought: Neither CBN Nor Emefiele
There is dollar drought in Nigeria. It has become the biggest challenge for the Central Bank of Nigeria, CBN, in…
Exclusive: Visa Moves To Allow Payment Settlements Using Cryptocurrency
Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its…
SEC Unveils New Rules On Commodity Trading
To ensure a vibrant commodities trading ecosystem, the Securities and Exchange Commission (SEC) has unveiled new rules on warehousing, collateral…
Shell, Nigeria’s Aiteo Locked In Legal Battle Over Loan Default
Royal Dutch Shell Plc and seven banks accused one of Nigeria’s largest oil producers of defaulting on loan repayments that…
AfCFTA: Nigeria To Establish Trade Remedies To Tackle Fraudulent Invoicing
As part of its commitment to a successful implementation of the African Continental Free Trade (AfCFTA) Agreement, the federal government…
China’s Yuan Fixing Once Again Draws Attention As Rally Falters
China’s daily yuan fixing is once more drawing attention. A bout of sudden weakness in the currency has traders looking…
NIN: Telcos Lose 11.8 Million Subscribers In Four Months
The number of telecom subscribers in the country dropped by 11.84 million in four months, according to latest industry statistics…
Euro Set For Biggest Monthly Drop Since Mid-2019 On Economy Fears
The euro languished below $1.18 on Monday as the prospect of tougher coronavirus curbs in France and Germany weighed on…
Nigeria On Alert Over Fake COVID-19 Vaccines Shipped To Africa
The Nigerian government has placed its agencies on alert following speculations of fake COVID-19 vaccines reportedly dispatched to Africa. The…
Is Economy On The Verge Of Recovery In Q1?
Contrary to expectations, the gradual but steady rise in economic activities across the sectors in the first quarter of 2021…
U.K. Man Must Pay $571 Million Over Stolen Bitcoin, CFTC Says
A U.K. man accused of scamming consumers into sending him more than 20,000 Bitcoin has been ordered to pay $571…
Oil Gains As Shipping Remains At A Halt In The Suez Canal, But U.S. Prices Log A Weekly Loss
Crude-oil futures finished higher Friday as a 220,000 ton cargo ship blocked the Suez Canal for a fourth straight day…
Deliveroo Narrows Price Range Ahead Of London Market Debut
Food delivery group Deliveroo has narrowed the price range on its initial public offering, ensuring its order books were fully…
Futures Slip As Bank Stocks Fall On Hedge Fund Default Concerns
U.S. stock index futures dropped on Monday after Wall Street’s surge in the prior session as major lenders came under…
US Not Ready To Lift Tariffs On China —Official
President Joe Biden’s new trade negotiator has said the United States is not yet ready to lift tariffs on Chinese…
Seplat Issues $650m Five-Year Senior Notes
Seplat Petroleum Development Company Plc, a Nigerian independent energy company, said on Sunday that it had priced its offering of…
Needless Tenure Elongation Of Federal Appointees
The Muhammadu Buhari administration has triggered yet another needless, distracting controversy by retaining two top federal public servants in their…
Oil Falls On Hopes That Suez Canal Blockage Might End Soon
Oil fell on Monday as a container ship blocking Suez Canal for nearly a week was partially refloated raising hopes…
Toyota Presses Australia To Promote Roll-Out Of Hydrogen Fuel Stations
Toyota Motor Corp on Monday opened its first commercial hydrogen fuel pump site in the Australian state of Victoria, urging…
Australia’s AMP Says Ares Keen To Buy Unit’s $1.7 Billion Private Markets Business
Troubled Australian wealth manager AMP Ltd said on Monday that Ares Management was interested in a potential buyout of its…
Visa Moves To Allow Payment Settlements Using Cryptocurrency
Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its…
Czech Billionaire Kellner killed In Alaska Helicopter Crash
The Czech Republic’s richest man, billionaire Petr Kellner, was killed in a helicopter crash in Alaska, his financial group PPF…