Australia Central Bank Holds Rates As Economy Bolts Ahead, A$ Slips
Australia’s central bank left its cash rate at record lows on Tuesday and reiterated its lower-for-longer policy stance even as…
Day: June 1, 2021
7,000 Oil Reserves Discovered, Only 1,700 Producing – Nigerian Government
The Federal Government on Monday disclosed that out of 7,000 oil reserves that have been discovered in the country, only…
We’re Significantly Decongesting Lagos Ports, Says NPA
The Nigerian Ports Authority has said it is making significant progress in decongesting the ports in Lagos with the e-call…
Canada FX Debt-C$ Heads For Monthly Gain As Current Account Swings To Surplus
The Canadian dollar edged lower against its U.S. counterpart on Monday, but was on track to notch its fourth straight…
Nigerian Equities Could Rise, But Upside Is Capped
Global X MSCI Nigeria ETF (NYSEARCA: NGE) provides predominantly U.S. investors with the chance to gain direct access to the…
China C.Bank Says To Raise FX Reserve Requirements
China’s central bank said on Monday that it will raise the FX reserve requirement ratio for financial institutions to 7%…
Nigerians Trade N69.29bn Bitcoin In Five Months Despite Ban
Nigerians traded N69.29bn ($169m) in bitcoin volume in the first five months of 2021, according to data analysed from www.usefultulips.org.…
Yuan Stabilises After New FX Requirements, Corp Clients Told To Hedge
China’s yuan clawed back earlier losses on Tuesday taken after authorities ordered banks to increase their foreign exchange holdings, although…
Pound’s Gain To Three-Year High Cut Short Amid Variant Concerns
The pound retreated after hitting its strongest level in three years as concern over a new coronavirus strain outweighed bets…
Precious-Gold Prices Near 5-Month Peak On Weaker Dollar, Inflation Worries
Gold prices scaled a near five-month high on Tuesday, driven by a weaker dollar and growing inflationary pressures, while investors…
NNPC Plans To Acquire Stakes In Six Private Refineries
The Nigerian National Petroleum Corporation on Monday said it is currently considering equity participation in some private refineries across the…
Economy Can Handle The Sharp Rise In Inflation, Market Bull Ed Yardeni Predicts
The post-lockdown spending frenzy may contribute to a sharp rise in inflation, but Ed Yardeni believes the economy can handle…
Stock Investments Drop By N1.02trn As Buyers Shift To Fixed Income
Investments on the Nigerian stock market declined by N1.022 trillion in the first five months of the year. Capital market…
Nigeria Opens Bid For Highway Development, Management
The initiative is aimed at creating alternative sources of financing road development and management in the country. The Federal Ministry…
Federal Government: $40bn Investments Needed To Boost Power Supply In Nigeria
The federal government has said that there’s still a lot of financing gap in the country’s power sector, requiring an…
Corrected-Forex-Dollar In Doldrums As Traders Ponder Fed Policy Path; Sterling Soars
The dollar languished near multi-month lows versus major peers on Tuesday, as traders pondered the prospects for early policy normalisation…
Apprehension As Naira Crashes To N700/£1 At Parallel Market
The foreign exchange (Forex) market in Nigeria was thrown into a panic mood on Monday when the value of the Naira significantly depreciated against the Pound Sterling at…
Nigerian FX Volumes Rose 0.72pc To $1.25bn Week Ago
ABUJA: A total of $1.250 billion traded across Nigeria’s currency markets last week, up 0.72% from a week earlier, driven…
Bank of America names its ‘best’ stocks to play the U.S. and global recovery
Analysts from Bank of America have picked stocks set to get a boost as economies in the U.S. and Europe recover from…
Chinese yuan will become a top reserve currency sooner than expected, says Ray Dalio
The Chinese yuan will become a global reserve currency sooner than most people expect, said billionaire investor Ray Dalio. The U.S. dollar is currently the…