Oil Rises Towards $72 On Demand Prospects
Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the…
Customs Agents Suspend Strike At Onne Port
The Area 2 Branch of the Association of Nigerian Licensed Custom Agents has suspended its strike over disagreement with the Customs Service. The suspension follows an agreement between the association…
International Trade: Investors Bemoan Nigeria’s Unfriendly Business Climate
Investors have bemoaned the harsh business climate in Nigeria occasioned by security challenges noting that insecurity is increasingly affecting investors’ appetite in the country. They also lamented inconsistencies in government…
Bitcoin Slides After Musk Tweets Broken-Heart Emoji For Token
Bitcoin slid after a cryptic tweet from Elon Musk apparently hinting at a potential split with the largest cryptocurrency, the latest post from the billionaire to buffet the token’s price.…
ABCON Bans Street Trading Of Foreign Currencies
The Association of Bureaux De Change Operators of Nigeria (ABCON) says it will launch an “Operation No Street Trading” to stop street hawking of foreign currencies. Aminu Gwadabe, ABCON president,…
Duration Of U.S. Dollar Weakness Splits FX Analysts
The U.S. dollar outlook is uncertain, with foreign exchange strategists in a Reuters poll almost evenly split on the greenback’s near-term direction following two months of broad weakness, as they…
Dollar Soars Ahead Of Payrolls But Can The Rally Last?
The U.S. dollar traded sharply higher against all of the major currencies on Thursday with USD/JPY closing above 110 for the first time since April which is a sign that…
Nigeria Home To 9,100 Dollar-Millionaires, Worth $207bn – REPORT
Nigeria has recorded about 9,100 high net worth individuals (HNWIs) each with minimum net assets of one million dollars and a combined total wealth of approximately $207 billion, as at…
Foreign Stock Investors Withdraw N99.94bn In Four Months
A total of N99.94bn was pulled out by foreign investors from the Nigerian stock market in the first four months of this year as foreign involvement plunged to a four-year…
Freight Forwarders Endorse Review Of Charges By PTML
Freight forwarding associations at the Ports and Terminal Multipurpose Limited (PTML) Terminal, Tin Can Island Port Complex, Lagos, have expressed support for the review of handling charges at the terminal…
China Aims To Slow Yuan’s Rise But Likely To Avoid Drastic Steps – Policy Sources
China is likely to lean on incremental steps to slow the yuan’s gains to deter speculators and help its exporters, shunning drastic measures that could undermine its goal to liberalise…
Africa’s Oil-Producing Nations Rally Against Threat To Fossil Fuels
Some African oil-producing nations yesterday opposed what they described as the global conspiracy to shut down the economies of the continent’s resource-dependent countries. They urged members to take urgent action…
Passengers Suffer Check-In Delays As SITA Withdraws Service
Check-in for hundreds of international air travellers to various destinations was on Tuesday delayed for several hours when the airlines reverted to manual system for passenger facilitation. This was because…
CBN Anchor Borrowers Programme Benefits Over 3 Million Farmers
CBN, he said, shall continue to sustain its interventions in the critical sectors of the economy, particularly in Agriculture, Manufacturing, MSMEs, Infrastructure, Creative Industry, Health etc; to stimulate robust economic…
Analysis: Japan’s Yen Set To Suffer A While Longer As BOJ Baulks At Tapering
The developed world’s most dovish central bank and companies keen to put cash to work overseas have combined to make Japan’s yen one of the world’s worst performers this year,…
How CBN, Under Emefiele, Drives Financial Reforms
The Governor of the Central Bank of Nigeria (CBN), Governor Godwin Emefiele, might have made history as the only governor to be reappointed for a second term since the return…
Dollar Gains As Strong Run Of Data Turns All Eyes To Payrolls
The dollar was perched at multi-week highs on Friday, after notching up its biggest gains in about a month following robust jobs data that threw investors’ focus on to the…
Pressure Mounts On Naira, Sells At N499/$1 At Black Market
The journey of the Nigerian Naira into the N500/$1 region at the unregulated segment of the foreign exchange (forex) market is just a step away. On Thursday, the Naira was…
Assessing Emefiele’s Stewardship At CBN
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele is seven years in office today. In those years, he has aimed at many targets and scored several direct hits. The…
Nigeria Now Producing, Supplying SIM Cards To Africa Countries – Pantami
The Minister of Digital Economy and Communications, Mallam Isa Pantami, has revealed that Nigeria has established a manufacturing plant in Lagos to produce SIM Cards and even sell to other…
Cybersecurity Company SentinelOne Files To Go Public With 108% Revenue Growth Year-Over-Year
Cybersecurity company SentinelOne filed its IPO prospectus with the Securities and Exchange Commission on Thursday, and plans to list on the New York Stock Exchange under the ticker symbol S.…
Google reassigns diversity lead after antisemitic blog post comes to light
Google has reassigned global diversity lead Kamau Bobb after it deemed his past comments as antisemitic. Bobb, a global lead for diversity strategy and research at Google, has been in…
U.S. investment bank names 5 stocks on its ‘strongest conviction’ list
U.S. investment bank Stifel has added several companies to its list of “strongest conviction” global investment ideas. Stifel updated its list of stocks to buy after “deeper dives” by its…
Santoli’s Thursday notes: AMC is now about crowd psychology and pinball among the trading machines
This is the daily notebook of Mike Santoli, CNBC’s senior markets commentator, with ideas about trends, stocks and market statistics. Modest pressure on the indexes early possibly related to the…
Key levels to watch in Lululemon stock after earnings, according to Miller Tabak
Lululemon is set to report earnings after the bell Thursday. The one-time coronavirus pandemic darling has come under pressure this year with investors fearing a slowdown in demand as consumers…
BDC Operators Move To Crash Exchange Rate, Ban Street Hawking Of Dollars
Forex traders under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have said they will start what it called ‘Operation No Street Trading’ to stop…
NPA Boss Promises To Resolve Electronic Call-Up Bottlenecks
The acting Managing Director of the Nigerian Ports Authority, Mr Mohammed Bello-Koko, has said the authority was committed to resolving all the challenges hindering the smooth implementation of the electronic…
Oil Rises With U.S. Crude Supplies Falling For Second Week
Oil climbed after a U.S. government report showed crude inventories declined for a second straight week, further evidence of increasing demand as the summer travel season gets underway. Futures in…
Canada FX Debt-Canadian Dollar Slides As Inflation Risk Hits Sentiment
The Canadian dollar weakened to a six-day low against its U.S. counterpart on Thursday, as investors weighed inflation risk and awaited jobs data from both the United States and Canada…
Bankers Dare EFCC, Say We’re Not Afraid To Declare Assets
The National Union of Banks, Insurance and Financial institutions has said its members are not afraid to declare their assets as being required by the Economic and Financial Crimes Commission.…