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…
Month: June 2021
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 $34.88bn as of April 28.…
Dollar Gets Respite As U.S. Manufacturing Picks Up, Jobs Report Awaited
The dollar clung to small overnight gains on Wednesday, edging back from near a five-month trough versus major peers, as…
China Yuan Assets Not A ‘Bargaining Chip’ For Gamblers, Xinhua Warns
Chinese yuan-denominated assets are not a “bargaining chip” for gamblers, the official Xinhua news agency said in a commentary on…
Sub-Saharan Africa Most Expensive Globally To Send And Receive Money
The cost of remittances in sub-Saharan Africa was the highest, averaging 8.17 percent in the fourth quarter of 2020 compared…
Sterling Hits Fresh 3-Year High As Investors Bet On UK Recovery, House Price Surges
The pound edged lower on Tuesday after touching a fresh three-year high versus the dollar amid expectations for a recovery…
Stock Market Sheds N812bn In May As Investors Weigh Options
The rally witnessed in the equities market in April was halted in May as rising yields in the fixed income…
Australia Central Bank Holds Rates As Economy Bolts Ahead, A$ Slips
Australia’s central bank left its cash rate at record lows on Tuesday and reiterated its lower-for-longer policy stance even as…
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…