Uniqlo Owner Posts 23% Jump In HY Profit, Raises Annual Profit Estimate
Japan’s Fast Retailing, the owner of clothing brand Uniqlo, on Thursday reported a 23% jump in half-yearly operating profit and…
Month: April 2021
Analysis: White House, U.S. Companies Could Agree On 25% Tax Rate, Officials, Business Groups Say
President Joe Biden has championed raising the U.S. corporate tax rate to 28% from 21% as the main way to…
Sterling Sinks To Two-Week Low Vs Euro, One-Week Low Vs Dollar
Sterling sank on Wednesday as profit-taking by traders after a strong first quarter for the British currency pulled it to…
Billionaires List: Dangote, Adenuga, Rabiu’s Wealth Rises By $5.7bn
The combined net worth of three of Nigeria’s richest persons increased by $5.7bn in one year to $22.5bn, according to…
Oil Prices Rise On Stronger Economic Outlook, U.S. Stockpile Draw
Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a…
Nigerian Stock Exchange CEO Oscar Onyema Completes Tenure, To Head NGX Group
Oscar Onyema, the Chief Executive Officer of the Nigerian Stock Exchange has completed his tenure. Onyema, 52, assumed the position…
FG Opens April Savings Bonds
The Federal Government has through the Debt Management Office opened the April savings bond offer to investors. The DMO on…
FMDQ Exchange To Commence Derivatives Trading Soon
FMDQ Securities Exchange Limited yesterday said that the implementation of its derivatives market development project was nearing completion to enable…
China’s March Forex Reserves Fall To $3.17 Trillion
BEIJING – China’s foreign exchange reserves fell more than expected in March, official data showed on Wednesday, as the dollar…
Dollar Hovers Near Two-Week Low After U.S. Yields Slip
The dollar hovered near two-week lows after U.S. bond yields eased from recent highs, while market participants waited for the…
‘Nigeria Can Export $3bn Worth Of Cocoa Derivatives Under AfCFTA’
The federal government has disclosed that by taking advantage of the African Continental Free Trade Area (AfCFTA), Nigeria has the…
AMCON Plans To Operate Arik, NG Eagle Side-By-Side
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…
Nigeria Heading For The Brink, Mohammed Warns, Urges Restraint
With growing insecurity across the country, secessionist agitations and ethno-religious crisis, the Minister of Information and Culture, Alhaji Lai Mohammed,…
DPR Revokes Addax Petroleum’s Four Oil Blocks For Non-Performance
The Department of Petroleum Resources (DPR) has revoked four Oil Mining Licences (OMLs) belonging to Addax Petroleum due to the…
Mobile Money: GSMA Tasks Nigeria On Telco-Led Sector
As African countries continue to blaze the trail in world mobile money growth, Sub-Saharan Africa, however has the largest number…
Nigeria’s Seplat Issues $650m Senior Oil And Gas Bond
Nigerian independent oil and gas firm, Seplat Petroleum Development Company, has issued a five year, $650-million senior bond with Natixis,…
Bitcoin, Fiat Currencies Unnerved Even As Goldman Ditches Short USD Trade
Investment banking giant Goldman Sachs’ latest decision to retract from its bearish view on the U.S. dollar is receiving a…
Asian Shares Ease From Three-Week Highs, Dollar Retreats
Asian shares pulled back from a three-week high on Wednesday, dragged lower by Chinese stocks, though investors were still focused…
Czech PM Babis To Appoint New Health Minister – CTK News Agency
Czech Prime Minister Andrej Babis will replace Health Minister Jan Blatny on Wednesday, the CTK news agency reported. CTK said…
Ibom Air Will Soon Start Flight To Gambia – Emmanuel
Gov. Udom Emmanuel of Akwa Ibom has said that Ibom Air, the state-owned airline, will extend its flight operations to…
$2bn FX Backlog: Experts Suggest Way Out
FOLLOWING an estimated $2 billion unmet Foreign Exchange (FX) demand, finance and economic experts have expressed concern that FX challenges…
IEA Sees Drop In Nigeria’s Crude Oil Capacity By 2026
The International Energy Agency (IEA) forecasts that crude oil capacity in Nigeria will drop by 200,000 barrels to 1.6 million…
CANADA FX DEBT-Canadian Dollar Notches 2-Week High As Risk Appetite Climbs –
The Canadian dollar advanced against its broadly weaker U.S. counterpart on Monday as robust U.S. economic data bolstered investor sentiment…
ADQ To Acquire Egypt’s Amoun Pharmaceutical Company
The UAE’s ADQ, one of the region’s largest holding companies plans to acquire Amoun Pharmaceutical Co. from Bausch Health Companies…
SaltPay To Acquire Apis Partners-Controlled Tutuka; PE To Swap Stake
European payments firm SaltPay has inked a deal to acquire South Africa-born third-party payments enabler International Tutuka Holdings Ltd, a…
Airtel Africa Sells $200M Mobile Money Business Stake To TPG’s Rise Fund
In February, London-listed telecom Airtel Africa said it was looking to sell a minority stake in its mobile money business in a…
IMF Excludes Nigeria From Debt Relief
Nigeria has been excluded from the list of 28 countries granted debt pardon by the Executive Board of the International…
Sweden To Bring In Banks In Next Stage Of E-Krona Project
Sweden’s central bank will bring in banks in the coming year to test how its proposed digital currency – the…
Oil Rebounds On Robust Economic Data
Oil prices rose on Tuesday supported by strong economic data from China and the United States, recouping some of the…
NIRSAL Recovers 51 Per Cent Of Legacy Loans
The Managing Director, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) Aliyu Abdulhameed has recovered 51 per cent…