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 on the U.K. economic recovery. Sterling fell as much as…
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 awaited more U.S. data to gauge the extent of global…
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 country. It said this was in line with a Federal…
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 it. Yardeni, who spent decades on Wall Street running investment…
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 analysts attributed the decline or volatility seen in the 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 of Works and Housing will officially open the bid for…
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 immediate funding of $40 billion in the generation, transmission and…
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 by the Federal Reserve ahead of a key jobs report…
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 the parallel…
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 by a rise in derivatives trading, data from the market…
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 the coronavirus pandemic. “We highlight stock opportunities in…
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 world’s reserve currency, but billionaire…