CBN: BDC Promoters To Get Refund On Deposits, Fees With Pending Applications
In the aftermath of the Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria (CBN) has said it will…
Day: July 29, 2021
Nigeria’s Capital Import Dips To $875.62m In Q2
The total value of capital importation into Nigeria declined to $875.62million in the second quarter of 2021 from $1,905.89million in…
Federal Government Urged To Adopt Bangladesh’s Export-Demand Industrial Policy Model
The Director-General, Nigerian Institute of International Affairs (NIIA), Professor Eghosa Osaghae has advised the federal government to adopt an export-demand…
Nigeria To Refund Deposits To Exchange Bureaux Applicants After FX Sale Ban
Nigeria’s central bank will refund exchange bureaux that have paid deposits and licence fees which have yet to be approved,…
Central Bank Chief Says Canadians Should Not ‘Overreact’ To Temporary Inflation
Bank of Canada Governor Tiff Macklem, writing in a column for the Financial Post newspaper on Thursday, said Canadians can…
Canadian Dollar Hits 2-Week High As Fed Stance Bolsters Sentiment
The Canadian dollar touched a two-week high against its broadly weaker U.S. counterpart on Thursday, as the Federal Reserve remained…
Nigerian Manufacturers Battling Stunted Growth Blame Forex Scarcity
The manufacturing sector has seen woeful growth in the last five years, and a key problem is businesses can’t find…
IMF Retains 2.5% Growth Estimate For Nigeria
The International Monetary Fund (IMF) has retained Nigeria’s 2.5 per cent economic growth forecast for 2021. The institution said this…
OPEC: Nigeria May Be Hard-Hit By Declining Investment In Oil Sector
The Organisation of Petroleum Exporting Countries (OPEC) yesterday warned that with declining investments in the global oil and gas industry,…
Ban On Forex Sale: NESG, Rewane Ask CBN To Ensure Policy Success, Cushion Effects
Following the cancellation of the sale of about $5.7 billion foreign exchange (forex) annually to about 5,500 licenced Bureau De…
NYSE-Owner ICE’s Second-Quarter Profit More Than Doubles
Intercontinental Exchange Inc (ICE.N), the owner of the New York Stock Exchange, on Thursday reported that its second-quarter profit more than…
Analysis: As Fed Tiptoes Around Tapering, Investors Look To Jackson Hole Meeting For Clarity
Investors looking for clear guidelines on when the Federal Reserve will begin tapering its massive bond purchases were left waiting…
Comcast’s Quarterly Revenue Tops Estimates, Lifted By Cable Growth
Comcast Corp’s (CMCSA.O) second-quarter revenue beat Wall Street estimates on Thursday, benefiting from higher advertising sales, theme parks reopening, and record broadband…
From Facebook To Twitter, Big Tech Sees Social Commerce Driving Sales Growth
Led by Facebook, social media platforms from Alphabet’s YouTube to Snap Inc (SNAP.N) and Twitter (TWTR.N) are investing heavily in shopping features to drive…
Merck Revenue Beats Estimates On Keytruda Demand
Merck & Co Inc (MRK.N) reported quarterly revenue on Thursday ahead of analysts’ estimates, as a recovery in demand for its cancer…
S&P 500, Dow Set To Rise As Economic Growth Heats Up
The S&P 500 and the Dow indexes were set to rise on Thursday as a slate of strong corporate earnings…
China Buyers Re-emerge, Patient Fed Saps Dollar
World share markets were back on the climb on Thursday as the U.S. Federal Reserve signalled it was in no…
U.S. Economy Contracted 19.2% During COVID-19 Pandemic Recession
The U.S. economy contracted at a record average annualized rate of 19.2% from its peak in the fourth quarter of…
Mastercard Profit Beats Estimates On Overall Spending Boost
Mastercard Inc (MA.N) reported a 36% rise in second-quarter profit on Thursday that comfortably beat estimates, underpinned by a recovery in global…
Carlyle’s Second-Quarter Earnings Double On Asset Sales
U.S. buyout firm Carlyle Group Inc (CG.O) said on Thursday its second-quarter distributable earnings nearly doubled following a sharp rise in asset…
NCC Introduces Devices To Tackle SIM-Related Crimes
The Nigerian Communications Commission (NCC) has instituted a Device Management System (DMS) to tackle SIM boxing and call masking, two…
Unique NIN Enrolments Hit 59.8m With Average Of Three SIMs
The total number of unique National Identity Number (NIN) that has been verified across networks in Nigeria has reached 59.8…
Google Parent Alphabet Profit Soars As Ads Surge
“There was a rising tide of online activity in many parts of the world, and we’re proud that our services…
TIME Announces Flutterwave On 2021 Influential Lists
Nigerian based Fintech Company; Flutterwave has been listed as one of the 2021 TIME100 Most Influential companies in the world.…
Oil Prices Slip But Remain Near $75 After Large Inventory Drawdown
Oil prices slipped but remained near $75 per barrel on Thursday as crude stockpiles in the United States, the world’s top oil consumer,…
Canadian Pipeline Operator TC Energy To Switch To Green Power To Run North American Energy Pipelines
Canadian pipeline operator TC Energy Corp (TRP.TO) could spend billions of dollars on its plans to lower emissions by…
‘How Nigeria Can Leverage Nanotechnology For Development’
The Minister of Science and Technology, Dr. Ogbonnaya Onu and the Chairman of Oilserv, Emeka Okwuosa have said there was…
Shoprite Out, Pick ‘N Pay in – The Nigeria Strategy For S.A’s 2nd Largest Retailer
At the beginning of the month, the Shoprite Group announced the completion of their exit from Nigeria after a few…
What Would It Take For Nigeria, Others To Manufacture Vaccines?
The rising concerns about global vaccine inequality have raised a critical question about the ability of many countries to protect…
Power Grid Collapses Again Amid Lack Of Backup Capacity
The national power grid has suffered another system collapse, worsening the blackout being experienced by households and businesses in parts…