Real Time Financial News Website
Japan’s Fast Retailing, the owner of clothing brand Uniqlo, on Thursday reported a 23% jump in half-yearly operating profit and raised its full-year profit estimate. The company has been among…
President Joe Biden has championed raising the U.S. corporate tax rate to 28% from 21% as the main way to fund his $2 trillion infrastructure plan, but few people in…
Sterling sank on Wednesday as profit-taking by traders after a strong first quarter for the British currency pulled it to a week’s low against the dollar and its lowest in…
The combined net worth of three of Nigeria’s richest persons increased by $5.7bn in one year to $22.5bn, according to Forbes’ 2021 World’s Billionaires list. The list, which was released…
Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s…
Oscar Onyema, the Chief Executive Officer of the Nigerian Stock Exchange has completed his tenure. Onyema, 52, assumed the position on April 4, 2011. He was formerly Senior Vice President…
The Federal Government has through the Debt Management Office opened the April savings bond offer to investors. The DMO on Tuesday disclosed on its website the two-year and three-year savings…
FMDQ Securities Exchange Limited yesterday said that the implementation of its derivatives market development project was nearing completion to enable investors transact exchange traded derivatives. The exchange disclosed this to…
BEIJING – China’s foreign exchange reserves fell more than expected in March, official data showed on Wednesday, as the dollar posted a gain against a basket of major currencies. The…
The dollar hovered near two-week lows after U.S. bond yields eased from recent highs, while market participants waited for the Federal Reserve’s meeting minutes due later in the session to…
The federal government has disclosed that by taking advantage of the African Continental Free Trade Area (AfCFTA), Nigeria has the capacity to export $3 billion worth of derivatives from cocoa…
The state-owned Asset Management Corporation of Nigeria (AMCON) intends to retain Arik Air (W3, Lagos) alongside its new start-up NG Eagle (XGE, Lagos), at least until the end of 2021,…
With growing insecurity across the country, secessionist agitations and ethno-religious crisis, the Minister of Information and Culture, Alhaji Lai Mohammed, has warned that Nigeria is heading for the brink, urging…
The Department of Petroleum Resources (DPR) has revoked four Oil Mining Licences (OMLs) belonging to Addax Petroleum due to the non-development of the assets by the petroleum company. The affected…
As African countries continue to blaze the trail in world mobile money growth, Sub-Saharan Africa, however has the largest number of mobile money users, the largest transaction volume as well…
Nigerian independent oil and gas firm, Seplat Petroleum Development Company, has issued a five year, $650-million senior bond with Natixis, Rand Merchant Bank and Société Générale serving as joint lead…
Investment banking giant Goldman Sachs’ latest decision to retract from its bearish view on the U.S. dollar is receiving a thumbs down from financial markets. While bitcoin is trading nearly…
Asian shares pulled back from a three-week high on Wednesday, dragged lower by Chinese stocks, though investors were still focused on upcoming company earnings for more signs of a global…
Czech Prime Minister Andrej Babis will replace Health Minister Jan Blatny on Wednesday, the CTK news agency reported. CTK said Petr Arenberger will replace Blatny, who has led the health…
Gov. Udom Emmanuel of Akwa Ibom has said that Ibom Air, the state-owned airline, will extend its flight operations to the Gambia and other West African countries, the News Agency…
FOLLOWING an estimated $2 billion unmet Foreign Exchange (FX) demand, finance and economic experts have expressed concern that FX challenges will persist in 2021 unless certain deliberate steps are taken…
The International Energy Agency (IEA) forecasts that crude oil capacity in Nigeria will drop by 200,000 barrels to 1.6 million barrels per day by 2026 due to low investment. It…
The Canadian dollar advanced against its broadly weaker U.S. counterpart on Monday as robust U.S. economic data bolstered investor sentiment and ahead of a potential reduction by the Bank of…
The UAE’s ADQ, one of the region’s largest holding companies plans to acquire Amoun Pharmaceutical Co. from Bausch Health Companies Inc. Amoun is one of Egypt’s leading manufacturers, distributors, and…
European payments firm SaltPay has inked a deal to acquire South Africa-born third-party payments enabler International Tutuka Holdings Ltd, a firm that is currently controlled by emerging markets private equity…
In February, London-listed telecom Airtel Africa said it was looking to sell a minority stake in its mobile money business in a bid to raise cash and sell off some…
Nigeria has been excluded from the list of 28 countries granted debt pardon by the Executive Board of the International Monetary Fund (IMF). The Board has approved a third tranche…
Sweden’s central bank will bring in banks in the coming year to test how its proposed digital currency – the e-krona – could handle commercial and retail payments in the…
Oil prices rose on Tuesday supported by strong economic data from China and the United States, recouping some of the losses from the previous session due to rising OPEC+ supply…
The Managing Director, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) Aliyu Abdulhameed has recovered 51 per cent of legacy loans. Abdulhameed stated this when it was revealed…