Real Time Financial News Website
Fitch Ratings-London-08 June 2021: The sovereign issuer-based default rate rose to a record high in 2020 against a backdrop of weakened sovereign credit profiles due to the Covid-19 pandemic, Fitch…
The Central Bank of Nigeria’s Monetary Policy Committee’s recent decision to keep all policy rates unchanged, and to leave the MPR interest rate stable at its current rate of 11.5…
The Chief Executive Officer, FMDQ Group, Mr. Bola Onadele. Koko, has hailed the Central Bank of Nigeria (CBN) for activating the on-system trading and reporting of foreign exchange (FX) transactions…
China’s yuan firmed against the dollar in thin trade on Wednesday, with the market’s focus locked on upcoming U.S. inflation data for clues to when the Federal Reserve might start…
Britain’s housing market is “on fire” thanks to government incentives for buyers, more demand from households with higher savings after the COVID lockdowns and a lack of homes for sale,…
Despite controlling about 70 per cent of shipping and international trade in West and Central Africa, Nigeria’s lack of viable dry docks is costing the country billions of naira. The…
The federal government is losing billions of naira in duties payable on imported vehicles as 50 per cent of such vehicles in Nigeria reportedly come in illegally through closed borders,…
Bitcoin’s price slipped again Tuesday amid a brutal sell-off among digital currencies. The reason for the move was unclear, however it may be related to concerns over security of the…
The FBI’s breach of a bitcoin wallet held by the cyber criminals who attacked Colonial Pipeline is all about sloppy storage, and not a reflection of a security vulnerability in…
Sterling eased against a broadly stronger dollar on Tuesday, with no significant data releases on the economic calendar leaving analysts focused on the British government’s forthcoming decision on fully reopening…
The Comptroller General of the Nigeria Immigration Service (CGI), Muhammad Babandede, has announced the reopening of the passport application and payment portal effective from 12 midnight of June 8 to…
The gains of the Micro, Small and Medium Enterprises Development Fund (MSMEDF) driven by the Central Bank of Nigeria, CBN, in pursuance of its development financing function under its overall…
The Nigerian government’s ban on Twitter Inc. has triggered a wave of defiance among the country’s tech savvy, largely youthful population despite the risk of acquiring a criminal record. Demand…
The federal government has restated its commitment to assist the management of Eko Petrochemical and Refining Company, a subsidiary of Integrated Oil and Gas Limited, to ensure successful execution of…
The Association of Bureaux De Change Operators of Nigeria (ABCON) has advised foreign exchange users and the general public to patronise only Central Bank of Nigeria (CBN)-licenced bureaux de change…
Several commercial aircraft in the nation’s aviation industry are stranded abroad due to lack of access to foreign exchange at the official market, foreign exchange scarcity, devaluation of naira and…
Transactions through electronic payment (e-payment) channels increased by N80 billion to N21.27 trillion in May 2021 against the N21.19 trillion recorded in April 2021. Bismarck Rewane, CEO of Financial Derivatives…
Nigeria’s naira devaluation in May is unlikely to be the last and won’t fix the chronic dollar shortage which hampers the economy. In May, the central bank merged the official…
Nigeria’s naira slid past 500 per dollar on the black market on Monday to a more than 3-1/2-year low, two weeks after the country devalued its official exchange rate. Trading…
A report by the FSDH Research has described recent move by the Central Bank of Nigeria (CBN) to achieve exchange convergence is positive, saying it would ensure clarity and improve…
Dementia expert Dr. Jason Karlawish told CNBC he’s skeptical of the Food and Drug Administration’s approval of Biogen’s Alzheimer’s disease drug, Aduhelm, saying “the evidence to approve the drug wasn’t…
Novavax: “I have to tell you even after today’s run in Moderna, I still prefer Moderna’s stock than Novavax because I think that Moderna can do a lot more with…
CNBC’s Jim Cramer blamed Monday’s stock market decline on messaging from the head of the U.S. Treasury. On Sunday, Secretary Janet Yellen told Bloomberg News that raising the interest rate…
Apple unveiled new versions of its operating systems on Monday which showed that the company’s focus on privacy has taken a new turn. It’s not just a corporate ideal or…
NBCUniversal, the parent company of CNBC, announced Monday it will show more than 7,000 hours of content from the Tokyo Olympics across its networks and streaming platforms. Historically, the Summer…
T-Mobile CEO Mike Sievert on Monday laid out his vision for the next decade, telling CNBC that he believes his company can be the leader in 5G for the next…
Insider selling activity at AMC Entertainment ramped up like never before during the recent explosive rally driven by enthusiastic retail investors. A total of seven insiders at the movie theater…
Biogen CEO Michel Vounatsos told CNBC on Monday that the list price of $56,000 per year for the company’s FDA-approved Alzheimer’s disease drug aducanumab is “fair.” That being said, the…
Tesla executive Jerome Guillen has left the company after only three months as the president of its Heavy Trucking unit, according to an SEC filing released Monday. “We thank him…
Salesforce CEO Marc Benioff said Monday that he expects half or more of his company’s employees to continue working from home after the pandemic. Despite hefty real estate investments in…