Rising Debt: DMO Blames COVID-19, Experts Say Borrowing From Central Bank Nigeria Dangerous
Nigeria’s debt profile has been on the increase because of the impact of revenue crash and the crises trailing the…
Month: April 2021
Senate Queries FMBN N3bn Contract, Summons Ex-MD
The Senate Public Accounts Committee has summoned a former managing director of the Federal Mortgage Bank of Nigeria, Mallam Gimba…
Nigerian Stocks Fall Further, Investors Lose N30bn
The Nigerian stock market fell further last week as the market value of equities fell by N30bn. The Nigerian Stock…
GTBank Shareholders Endorse N3.00 Total Dividend For 2020, Applaud Agbaje’s Leadership
Shareholders of Guaranty Trust Bank (GTBank) Plc, at the weekend unanimously endorsed the payment of a total dividend of N3.00…
Shares In SK Innovation Surge After Settlement With Rival Brightens U.S. Prospects
Shares in South Korean auto battery maker SK Innovation Co Ltd soared on Monday after it buried the hatchet with…
Big U.S. Treasury Auctions Could Restart Rise In Yields
U.S. Treasury auctions offering $271 billion of new debt and a key inflation report this week could end a recent…
China’s Exports, Imports Seen Staying Buoyant In March
Improved global demand and a favorable base effect are likely to have kept China’s exports buoyant in March, while higher…
Dollar Pinned Down By Lower U.S. Yields; Inflation Data In Focus
The dollar languished near 2-1/2-week lows against major peers on Monday as a decline in Treasury yields restrained the U.S.…
Chinese Tech Start-Ups Pull IPO Plans As Beijing Tightens Scrutiny
A growing number of Chinese tech start-ups are cancelling plans to list on Nasdaq-style markets at home with some eyeing…
Alibaba Says Does Not Expect Material Impact From Antitrust Fine, Shares Rally
China’s Alibaba does not expect any material impact from changes to its exclusivity arrangements with merchants, CEO Daniel Zhang said…
Asia Shares Anxious For Earnings Season, U.S. Data Deluge
Asian shares faltered on Monday as anxious investors wait to see if U.S. earnings can justify sky-high valuations, while a…
Grammy-Nominated Rapper DMX dead At Age 50
DMX has died after suffering a heart attack at his home on April 2 that left him in a coma…
Sterling Falls, Set For Biggest Weekly Loss Since 2020
Sterling fell on Friday, touching a two-month low against the dollar in early London trading, and was set for its…
Digital Pound Would Boost Post-Brexit City Of London, Think-Tank Says
A digital pound must be at the heart of Britain’s efforts to strengthen the City of London’s global attraction as…
FMDQ To Deepen Market With Derivatives
FMDQ Securities Exchange Limited will soon launch a standardised market for exchange traded derivatives, a move that will deepen the…
Doctors’ Strike: Reps Summon MDCN Registrar
House of Representatives, yesterday, summoned the Registrar, Medical and Dental Council of Nigeria (MDCN), Tajudeen Sanusi, to appear before its committee…
France’s Macron Announces End Of Elite ENA College
Emmanuel Macron announced Thursday plans to scrap France’s elite ENA graduate school, which four modern presidents have attended including him,…
MTN, Banks Working On Sustainable USSD Pricing Model
MTN Nigeria has said that it is currently engaging the banking community to align on a longer-term pricing structure for…
HP Seizes Over 4.5m Counterfeit Products In 2020 — Official
The HP Anti-Counterfeiting and Fraud (ACF) team said it confiscated over 4.5 million fraudulent print products, parts, and components, including…
IMF Seeks Support For Nigeria, Other Low Income Countries
The International Monetary and Financial Committee, the policy advisory committee of the Board of Governors of the International Monetary Fund,…
Nigeria: Dangote, Flour Mills, BUA In Bitter Sugar War
Three Nigerian conglomerates – Dangote Group, Flour Mills and BUA Group are currently locked in a bitter war over production…
Hope For Nigeria As Africa Awaits 428 New Oil, Gas Projects
Over 428 oil and gas projects are expected to be developed in Africa’s oil and gas sector before 2025, a…
CBN Gets Court Order To Freeze 193 More Bank Accounts
The Central Bank of Nigeria (CBN) has obtained three different court judgments from the Federal High Court, Abuja to freeze…
Champion Breweries, Guinness shares rise 230% Ytd
Despite the poor performance of the Nigerian stock market in the first quarter (Q1) of 2021, the shares of Champion Breweries…
The Securities And Exchange Commission Raises Alarm On Unregistered Online Platforms Proliferation
The Securities and Exchange Commission has warned the investing public on the proliferation of unregistered online investment and trading platforms…
Nigerian Stock Exchange Sustains Positive Profile As Capitalisation Gains N13B
Trading on the Nigerian Stock Exchange (NSE) continued in an upward note, yesterday, as more blue-chip stocks appreciated, resulting in…
CAP Reports N1.2bn Profit, Pushes Ahead With Merger Plan
Chemical and Allied Products Plc has reported a total profit of N1.2bn for the financial year 2020, compared to N1.7bn…
The Guy Who Started The GameStop Mania Will Soon Be Chairman Of The Board
George Sherman may still be the CEO of meme stock poster child GameStop. But it looks like Chewy co-founder Ryan…
Bitcoin Mining In China Could Soon Generate As Much Carbon Emissions As Some European Countries, Study Finds
Bitcoin’s soaring popularity could have a long-lasting negative effect on the environment. Cryptocurrency mining requires significant computer power and electricity, and the…
Queen Elizabeth’s Husband Prince Philip Dies At 99
The Duke of Edinburgh, the Queen’s “strength and stay” for 73 years, has died aged 99. Flags on landmark buildings…