Worries As N796b Investors’ Losses In May Extends Into June
Insecurity in the country and other macroeconomic challenges, coupled with uncertainty in the global economy, may continue to take a…
Month: June 2021
CBN Adjusts Naira’s Official Rate To N410.22/$1
The Central Bank of Nigeria (CBN) again weakened the naira yesterday, by adjusting the local currency ‘s official rate to…
CBN: Forex Inflows Drop To $43bn In 2020
A total of $43 billion in foreign currency flowed through the Central Bank of Nigeria (CBN) as outflows in the whole…
‘Nigeria, Others In Fragile Position On Energy Transition, Investment’
As the world adapts to the rapidly changing dynamics in the energy industry in an effort to mitigate the impacts…
Crypto Firms Failing To Meet FCA’s Money Laundering Regulations
The U.K. markets regulator says significant numbers of crypto firms are withdrawing applications to register with the watchdog after struggling…
Dollar Ticks Up Ahead Of U.S. Payrolls
The U.S. dollar rose on Thursday as traders awaited a batch of U.S. economic data that could set the tone…
Improved Business Performance Pushes PMI To 54.4 Points
Growth in the Nigerian private sector gained momentum in May to 54.4 basis points, with business conditions improving to the…
Cocoa Prices Rise In Nigeria`S Edo, Akwa Ibom, Abia, Ogun States, Fall In Ondo
IBADAN, Nigeria — Cocoa prices have risen this week in some producing states in Nigeria due to the slight improvement…
Gokada Eyes Share Of Nigeria’s $20b E-Commerce Market
Nigeria-based last mile delivery, logistics and transportation start-up Gokada has launched a ‘Super App’ where customers can access food delivery,…
Shippers Association Cautions Terminal Operators On Tariff Increase
The Shippers Association of Lagos (SAL) yesterday cautioned terminal operators and shipping lines against increase in charges and rates in…
These are the next Reddit stocks to watch, according to Bank of America
The meme-stock frenzy is as crazy as ever, and Bank of America is flagging the new stocks getting attention from…
Ford to expand profitable truck lineup with new small Maverick pickup
DETROIT — Ford Motor will expand its highly profitable truck lineup with a new small pickup called Maverick, the company confirmed Thursday.…
Elon Musk tweets again, sending shares of ‘Baby Shark’ investor soaring
Shares of Samsung Publishing, a major shareholder in the producer of “Baby Shark,” soared on Wednesday after a tweet by Tesla CEO Elon…
Russia’s top digital bank wants to offer crypto — but tough central bank policy stands in its way
Tinkoff, the biggest online bank in Russia, wants to offer cryptocurrency trading to its clients but says this will take…
United Airlines will buy 15 ultrafast airplanes from start-up Boom Supersonic
United Airlines is planning to turn the friendly skies into the ultrafast skies with the addition of supersonic jets. The carrier…
Ex-TD Ameritrade CEO warns meme stock traders that leverage could ‘rip your arms off’
Joe Moglia, former CEO of online trading platform TD Ameritrade, issued a stern warning Thursday about using leverage to try…
Russia Says It Will Remove Dollar Assets From Its Wealth Fund
Russia is cutting the U.S. dollar from its $186 billion National Wealth Fund as Washington continues to impose sanctions on Moscow. The…
China Rushes To Pull Back The Yuan From A Three-Year High
China is trying to rein in the yuan as it surges to three-year highs against the U.S. dollar. A stronger yuan…
Forex: ABCON Bans Street Hawking, Moves To Cut Rate
The Association of Bureau De Change Operators has said it will commence what it called ‘Operation No Street Trading’ to…
Oil Industry’s Future At Risk, Barkindo Warns Nigeria, Others
The Secretary-General of the Organisation of the Petroleum Exporting Countries, Mr Mohammad Barkindo, has warned that the future of the…
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…
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…