Facebook Announces New Tools To Make It Easier For Businesses And Consumers To Communicate
Facebook on Wednesday announced a number of new developer tools, including several messaging features for businesses, at its virtual F8 software…
Day: June 2, 2021
Microsoft to unveil new version of Windows on June 24
Microsoft said Wednesday it will unveil “the next generation of Windows” on June 24. The move comes a week after CEO…
AMC rally continues as shares jump in after-hours trading
The AMC Entertainment buying frenzy continued as shares of the movie theater chain jumped in extended trading on Wednesday. The meme stock…
Tesla faces pressure as EV competition heats up, ex-Ford CEO says
Elon Musk brought electric vehicles into the mainstream with Tesla. Now the EV company is grappling with the consequences of its…
Lira Craters To Record Low After Erdogan Orders Central Bank To Slow Inflation By Cutting Rates
By now, even the shoeshine boy knows that central banks are one-print trick pony farcical joke, one which is exposed not…
Bitcoin May Yet See ‘Breakthrough,’ Norway Finance Minister Says
The finance minister of Norway appeared to break away from the chorus of Bitcoin critics and suggested that cryptocurrencies will…
Nigerian Banks Lend To Customers At Higher Rate Despite Cheap Funds
Nigerian banks access low cost funds from individual/corporate deposits, interventions from the Central Bank and development finance institutions but lend…
UK’s Post-Study Work Visa Targets Graduates From Nigeria, Others
Under the post-study work visa rules by the United Kingdom government, Nigerians and nationals from other countries will be allowed to stay…
China Digs Deep Into Its Currency Toolkit To Manage Yuan
As China’s central bank pulls back from direct intervention in its currency market, officials are reverting to old tools to…
Twitter Deletes President Buhari’s Post For Violating Rules
President Buhari had in a tweet shared on Tuesday, evoked Nigeria’s civil war experience which was fought between 1967 and…
The Dollar Snaps Back
Overview: The US dollar is enjoying broad, even if not large, gains today following yesterday’s recovery from three-year lows against sterling…
Why We Want 20% Stake In Dangote Refinery – NNPC
The Nigerian National Petroleum Corporation, NNPC, has moved to explain its recent bid to acquire 20 percent stake in the…
Bitcoin Unlikely To Dodge Regulation For Long, Sweden Says
Bitcoin and other cryptocurrencies are unlikely to escape regulatory oversight as supervisory authorities respond to the sheer popularity of the…
Update 1-South Africa’s Rand Falls After Unemployment Data
The South African rand fell on Tuesday after data showed that the country’s unemployment rate hit a new record high…
Analysis-China’s Banks Are Bursting With Dollars, And That’s A Worry
A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency…
IMF Offers Bailout To Second African Nation In Less Than A Week
The International Monetary Fund staff agreed to provide a $1 billion facility to Uganda, the lender’s second bailout to an…
NNPC Decries Destruction Of Rail Lines For Oil, Gas Pipe Transportation
The Nigerian National Petroleum Corporation (NNPC) has bemoaned the recent spate of attacks on the country’s rail lines, especially from…
OPEC+ Gives Little Away As It Sees Oil Market Tightening
OPEC+ left oil consumers in limbo, sticking to its plan of monthly production increases until July but refusing to give…
Bank Of England Expresses Unease About Jump In Housing Prices
The Bank of England indicated unease about the U.K. housing market after Nationwide Building Society said prices were growing at…
Nigeria’s Furniture Export Rises As Cyrus Doors Enters Alaro City
Nigeria’s furniture export profile has received a boost with the move by Cyrus Doors and Joinery, a leading manufacturer and…
PFAs Invest N8.3tr In FGN Securities
Pension Fund Administrators (PFAs) have invested N8.32 trillion in Federal Government’s Securities, out of the N12.39 trillion pension fund assets…
Federal Government Targets Private Refineries To Offtake Over 300,000bpd
Except Dangote and other private refineries coming on board give preference to the Federal Government for patriotism sake, the NNPC…
Nigerian Banks Spend Billions Annually On KYCs
A KPMG report has revealed that Nigerian banks spend billions of naira annually to implement the Know Your Customer (KYC),…
How Wema Bank Is Supporting Nigerians With Loan Offerings
There are many reasons to take out a loan. From needing a bigger shop or office space to buying a…
Dollar Set For Second Consecutive Monthly Loss Vs Euro And Pound
The dollar came under pressure on Monday and was heading for its second consecutive monthly loss against the euro and…
Pound Touches Three-Year High Against The Dollar
The pound reached to a three-year high against the dollar on Tuesday, boosted by thin trade that gave relatively small…
External Reserves Dropped By $640m In May – CBN
The country’s external reserves lost $640m in May, falling to $34.24bn on May 28 from $34.88bn as of April 28.…
Dollar Gets Respite As U.S. Manufacturing Picks Up, Jobs Report Awaited
The dollar clung to small overnight gains on Wednesday, edging back from near a five-month trough versus major peers, as…
China Yuan Assets Not A ‘Bargaining Chip’ For Gamblers, Xinhua Warns
Chinese yuan-denominated assets are not a “bargaining chip” for gamblers, the official Xinhua news agency said in a commentary on…
Sub-Saharan Africa Most Expensive Globally To Send And Receive Money
The cost of remittances in sub-Saharan Africa was the highest, averaging 8.17 percent in the fourth quarter of 2020 compared…