Sovereign Defaults Hit Record In 2020; More Are Possible
Fitch Ratings-London-08 June 2021: The sovereign issuer-based default rate rose to a record high in 2020 against a backdrop of…
Month: June 2021
CBN’s Pro-Growth Stance, Is The Right Decision
The Central Bank of Nigeria’s Monetary Policy Committee’s recent decision to keep all policy rates unchanged, and to leave the…
FMDQ Commends CBN For Restoring Transparency In FX Market
The Chief Executive Officer, FMDQ Group, Mr. Bola Onadele. Koko, has hailed the Central Bank of Nigeria (CBN) for activating…
Yuan Edges Higher In Thin Trade, Market Awaits U.S. Inflation Data
China’s yuan firmed against the dollar in thin trade on Wednesday, with the market’s focus locked on upcoming U.S. inflation…
Bank Of England’s Haldane Says UK Housing Market Is On Fire
Britain’s housing market is “on fire” thanks to government incentives for buyers, more demand from households with higher savings after…
Nigeria Loses Billions Of Naira Over Deficient Dry Dock Facilities
Despite controlling about 70 per cent of shipping and international trade in West and Central Africa, Nigeria’s lack of viable dry…
FG Loses 50% Vehicle Import Duty, Levies To Smugglers – Report
The federal government is losing billions of naira in duties payable on imported vehicles as 50 per cent of such…
Bitcoin falls after U.S. seizes most of Colonial ransom
Bitcoin’s price slipped again Tuesday amid a brutal sell-off among digital currencies. The reason for the move was unclear, however it…
The FBI likely exploited sloppy password storage to seize Colonial Pipeline bitcoin ransom
The FBI’s breach of a bitcoin wallet held by the cyber criminals who attacked Colonial Pipeline is all about sloppy…
Sterling Eases Vs Dollar, UK Reopening Eyed
Sterling eased against a broadly stronger dollar on Tuesday, with no significant data releases on the economic calendar leaving analysts…
Nigeria Immigration Reopens Passport Application Portal
The Comptroller General of the Nigeria Immigration Service (CGI), Muhammad Babandede, has announced the reopening of the passport application and…
Counting The Gains Of CBN’s Funding Interventions For MSMEs
The gains of the Micro, Small and Medium Enterprises Development Fund (MSMEDF) driven by the Central Bank of Nigeria, CBN,…
Nigeria’s Twitter Ban Stokes Defiance Despite Prosecution Threat
The Nigerian government’s ban on Twitter Inc. has triggered a wave of defiance among the country’s tech savvy, largely youthful…
FG Pledges Support For Eko Refinery
The federal government has restated its commitment to assist the management of Eko Petrochemical and Refining Company, a subsidiary of…
Patronise CBN-Licensed BDCs, ABCON Charges Customers
The Association of Bureaux De Change Operators of Nigeria (ABCON) has advised foreign exchange users and the general public to patronise…
Airline Operators Count Losses As Forex Scarcity, Naira Devaluation Trap Aircraft Abroad
Several commercial aircraft in the nation’s aviation industry are stranded abroad due to lack of access to foreign exchange at…
Report: Electronic Payment Transactions Increased By N80bn To N21trn In May 2021
Transactions through electronic payment (e-payment) channels increased by N80 billion to N21.27 trillion in May 2021 against the N21.19 trillion…
Nigeria’s Devaluation Won’t Fix Managed-Float Woes
Nigeria’s naira devaluation in May is unlikely to be the last and won’t fix the chronic dollar shortage which hampers…
Nigeria Naira Slides Past 500/Dlr On Black Market, Trading Volumes Drop
Nigeria’s naira slid past 500 per dollar on the black market on Monday to a more than 3-1/2-year low, two…
Move Towards Exchange Rate Unification Positive, Says FSDH
A report by the FSDH Research has described recent move by the Central Bank of Nigeria (CBN) to achieve exchange…
Dementia Expert Says Evidence behind Biogen Alzheimer’s drug ‘Wasn’t Sufficient’ For FDA Approval
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…
Cramer’s Lightning Round: I Prefer Moderna Stock Over Novavax
Novavax: “I have to tell you even after today’s run in Moderna, I still prefer Moderna’s stock than Novavax because I…
Jim Cramer says Yellen’s interest rate comments ‘spooked the market’
CNBC’s Jim Cramer blamed Monday’s stock market decline on messaging from the head of the U.S. Treasury. On Sunday, Secretary Janet…
Apple is turning privacy into a business advantage, not just a marketing slogan
Apple unveiled new versions of its operating systems on Monday which showed that the company’s focus on privacy has taken a…
NBCUniversal will air more than 7,000 hours of Olympics coverage on TV and streaming video
NBCUniversal, the parent company of CNBC, announced Monday it will show more than 7,000 hours of content from the Tokyo…
T-Mobile CEO says company is poised to dominate 5G for the next decade
T-Mobile CEO Mike Sievert on Monday laid out his vision for the next decade, telling CNBC that he believes his company…
AMC insider selling picks up as meme stock rises amid retail wave
Insider selling activity at AMC Entertainment ramped up like never before during the recent explosive rally driven by enthusiastic retail investors. A…
Biogen CEO says $56,000 annually for Alzheimer’s drug is ‘fair,’ promises not to hike price for at least 4 years
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…
Tesla veteran Jerome Guillen leaves after less than three months leading trucking business
Tesla executive Jerome Guillen has left the company after only three months as the president of its Heavy Trucking unit, according…
Salesforce CEO Marc Benioff expects half or more of employees to work from home after the pandemic: ‘The past is gone’
Salesforce CEO Marc Benioff said Monday that he expects half or more of his company’s employees to continue working from home after the…