Canadian Dollar Gains As Investors Cheer Higher Commodity Prices
The Canadian dollar strengthened against its U.S. counterpart on Thursday, moving closer to a recent 6-year high, as oil prices…
Month: May 2021
EMERGING MARKETS-Turkey’s Currency Hit All-Time Low; EM Stocks At 1-Month High
Emerging market currencies touched new highs on Friday but a rising dollar ahead of U.S. inflation data tempered gains, with…
Turkish Lira Falls To Record As Rising U.S. Yields Add To Woes
The Turkish currency sank to a record low, weighed down by rising U.S. yields and concern that monetary policy remains…
Dollar Edges Up Ahead Of Inflation Data; Yen Falls
The dollar strengthened further on Friday following its rise from more than four-month lows in recent sessions, as investors waited…
China’s Warnings Come In Thick And Fast To Curb Inflation, Yuan
China has dialed up its rhetoric about surging commodity prices and a strong currency with almost daily commentary by officials…
World Bank Approves $700m Loan For Nigeria
The World Bank has approved a $700 million loan for the Nigeria Sustainable Urban and Rural Water Supply, Sanitation and…
Oil Rallies Above $67 As Demand Optimism Outweighs Iran Concerns
Oil extended gains from the highest close in more than two years as optimism over burgeoning U.S.-led demand outweighed the…
ABCON: ‘Corporate Governance Compliance Key In BDCs’ Operations’
Association of Bureaux De Change Operators of Nigeria (ABCON) has urged Bureaux De Change (BDC) to carry out their operations…
Cathie Wood Sees Deflation Returning, Boosting Innovation Stocks And Bitcoin
Cathie Wood is going against the grain yet again — this time on inflation. The founder and CEO of Ark…
Bank Of America Hikes Price Target For Nvidia To $750 After Earnings Beat
The latest earnings report from Nvidia should help the semiconductor giant’s stock continue its hot streak, according to Bank of America. The…
France In Double-Dip Recession At Start Of 2021 After Revisions
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. France’s statistics agency cut its estimate of economic…
CBN Moves To Curb $580m Annual Cassava By-Product Imports
Despite being the world’s largest producer of cassava, Nigeria imports over $580 million worth of cassava by-products annually. To keep…
Dangote: Nigeria To Earn $700m Annually From Sugar Backward Integration
The Chairman of Dangote Sugar Refinery(DSR) Plc Aliko Dangote, has urged government to faithfully follow through the Backward Integration Policy…
Bitcoin Falls Back Below $40,000 As Cryptos Plunge Yet Again
Major cryptocurrencies plunged into the red on Friday morning as the crypto market continues its volatility since last week’s massive…
Illegal Oil Deals: FG Fails To Recover $69bn Loot In American Banks
An American assets recovery firm, Forensic Assets Investigation and Recovery Services LLC, has traced $69bn (about N28.3tn) to different Texas…
Pound Ticks Up On Bank Of England Policymaker’s Rates Rise Comment
The pound (GBPUSD=X) rose against the dollar on Thursday afternoon, after Bank of England (BoE) policymaker Gertjan Vlieghe said it…
China’s Yuan Rises To Strongest Since ‘16 Versus Basket Of Peers
The yuan’s rally gathered pace on Thursday, with the Chinese currency rising to its strongest level since March 2016 against…
Nigeria’s President Appoints New Army Chief After Predecessor’s Death -Statement
Nigeria’s president has appointed a new army chief, the ministry of defence said in a statement on Thursday, following the…
Debt Rises By N20.8tn Under Buhari, Servicing Gulps N10.26tn
The country’s debt rose by N20.8tn between July 2015 and December 2020, data obtained from the Debt Management Office on…
Experts Fault Naira Devaluation, Say Prices’ll Rise, Poverty Deepened
Against the backdrop of the recent devaluation of the naira by the Central Bank of Nigeria, economic and financial experts…
Govt Seeks Single-Digit Interest For MSMEs
The Minister of State, Industry Trade and Investment, Mariam Katagum has called for single digit rate financing for the Micro,…
Stock Market Extends Losses By N12 Billion
The stock market extended losses to three consecutive sessions yesterday, causing market capitalisation to depreciate further by N12 billion. At…
Nigeria Needs $2b Monthly For Fiscal Sustainability As FG Builds Oil Reserves
The Department of Petroleum Resources (DPR) has stated that the country needs over $2 billion monthly revenue to remain sustainable…
Yuan Advances To New 3-Yr High As PBOC Yet To Show Discomfort With Recent Gains
China’s yuan advanced further to a new three-year high against the dollar on Thursday, as investors increased their bets on…
Dollar Firms As Traders Brace For U.S. Inflation Gauge
The dollar found support on Thursday from a sense that the Federal Reserve is slowly but surely edging towards a…
PSSP Capital Base Jacked Up To N250m
The Central Bank of Nigeria (CBN) has raised the minimum capital requirement for payment solutions service providers (PSSPs) to N250 million…
More Than Half Of Europeans Want To Replace Lawmakers With AI, Study Says
LONDON — A study has found that most Europeans would like to see some of their members of parliament replaced…
Cramer Says Investors Who Are Short GameStop And AMC Are Out Of Their Mind
CNBC’s Jim Cramer said Wednesday he’s not sure why any investors are still betting against GameStop and AMC Entertainment, two of the so-called…
Bitcoin Crash Opens Door To A Tax Loophole For Investors
Crypto investors may be shellshocked by a recent plunge in prices. But that sell-off has a silver lining: It opens the…
Twitter Says It Is Concerned About The Safety Of Its India Staff After Police Visit Office
Twitter said on Thursday it was worried about the safety of its staff in India, days after police visited its office…