C.Banks In Ghana, Kenya And Nigeria To Keep Rates Steady Next Week
Central banks in Ghana and Kenya will keep interest rates on hold next week to check quickening inflation while foreign…
Month: May 2021
U.K.’S Patel To Unveil Post-Brexit Overhaul Of Immigration
U.K. Home Secretary Priti Patel is set to announce a “wholesale” reform of the nation’s immigration system in the wake…
Nigeria Economic Growth Picks Up As Oil And Factory Output Rise
Nigeria’s economic growth quickened in the first quarter as oil output started to recover and manufacturing production increased for the…
Bitcoin Resumes Selloff Over Weekend, Falls Below $32,000
The bitcoin selloff continued Sunday following a roller-coaster week of trading, as authorities in China and the U.S. move to tighten regulation…
NNPC Reverses Full Deregulation, Remits Zero Revenue At April FAAC
Nigerians may heave a sigh of relief, as the impact of full deregulation of petroleum products in the country by the Nigerian…
Consolidation In FX May Be Welcome Given The Volatility Elsewhere
The reluctance of the Federal Reserve officials to signal a recalibration of policy given the booming economy, rising inflation and…
PBOC Says It Will Maintain Exchange Rate ‘Basically Stable
China’s central bank said it will maintain the exchange rate of the yuan at “basically stable” levels after recent comments…
Nigerians Kick Against NCC Plan For Phone ID Warehouse
Nigerians have in their numbers voiced opposition against the Nigerian Communications Commission’s plan to obtain the International Mobile Equipment Identity…
NBS’ Q1 Results: Rewane, Others Differ On Economic Growth
As the headline inflation for April drops by 0.5 per cent to 18.12 per cent in April, Managing Director of…
White House Makes $1.7 Trillion Infrastructure Counteroffer — But Republicans Say Sides Now Seem Further Apart
WASHINGTON — White House aides working on a bipartisan infrastructure deal made a counteroffer on Friday to Republican senators, reducing…
Stocks could be volatile in week ahead amid turbulence from cryptocurrency
The trading pattern of the past two weeks – particularly alongside cryptocurrency’s movements – suggests stocks could continue to be…
Forex Speculators To Lose N100bn As CBN Sustains Funding For BDCs
Foreign exchange speculators will lose over N100 billion in the next month as the Central Bank of Nigeria (CBN) sustains…
Wealth Fund That Quadrupled Profits Now Pivots With Bet On Europe
One of Africa’s largest sovereign wealth funds rode the wave of U.S. technology stocks to a banner 2020. Now, it’s…
Nigeria Governors Call For Full Deregulation Of Fuel Prices
Nigeria’s governors have called for a full deregulation of the country’s downstream oil sector so that pump price floats with…
African Financing Faces Mounting Challenges
International banks are increasingly reluctant to commit to African projects, although domestic banks are growing with an eye on filling…
Naira Sells For N411.31/$1 At I&E As Cryptos Recover
Despite a drop in the demand for FX at the Investors and Exporters (I&E) window of the foreign exchange market on Thursday,…
EU Disburses €10m To Combat Human Trafficking In Nigeria
The European Union (EU) says it has invested 10 million euros in Action Against Trafficking in Persons and Smuggling of…
China Should Let Yuan Rise To Offset Imported Price Rises, C.Bank Official Says
China should let its yuan currency strengthen to help offset the impact of rising import prices, a central bank official…
CNY: Hints Of A PBoC Change In FX Policy Priorities?
A central bank official has today proposed that China should let the yuan appreciate to offset the rising costs of…
Nigeria’s Biggest Data Center To Double Capacity On Demand Surge
Nigeria’s biggest data services firm, MainOne Cable Co., plans to almost double storage capacity over the next two years after demand…
IMF Pushes G20 States To Back $50bn Global Mass Vaccination Drive
Wealthy nation backing for a $50bn (£35bn) mass global vaccination drive could provide a $9tn boost to the world economy, the…
Hong Kong To Restrict Crypto Exchanges To Professional Investors
Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city’s markets regulator and will only be…
Pound Hits Two-Year High Against Dollar Amid Optimism For UK Recovery –
The pound reached a two-year high against the dollar (GBPUSD=X) on Friday amid rising hopes for a rapid economic recovery…
Green Africa Gets Nod For Ticket Sales
Lagos-based airline, Green Africa, is set to commence ticket sales via its website – greenafrica.com ahead of flight operations following…
Sterling Steadies After Strong Retail Sales Data; PMIs In Focus
The British pound was steady in early trading on Friday, on track for a weekly rise versus the dollar, after…
China Will More Than Double Millionaires By 2025, HSBC Says
Pedestrians walk past a Prada SpA store in the Wangfujing shopping area of Beijing, China, on Monday, Dec. 7, 2020.…
Bitcoin’s Claim Of Rivaling Gold As Portfolio Hedge Loses Luster
ISTANBUL, TURKEY – APRIL 16: A woman uses a bank ATM next to a Bitcoin ATM machine at a…
Nigeria Has World Bank’s Largest Portfolio Of More Than $12b, Says Malpass
World Bank Group President David Malpass and Vice President for Western Africa, Ousmane Diagana, in a media roundtable on Thursday,…
Nigerians To Pay N234 Billion Taxes Monthly With Petrol At N385 Per Litre
Tougher times are here and any pretension to the contrary has been ripped to shreds with Wednesday’s resolution of the…
Nigeria To Release Swiss Ship Seized Three Years Ago
The Federal Government has agreed to release the Swiss-flagged San Padre Pio oil tanker that was seized in January 2018.…