World Bank Trims East Asia, Pacific GDP Forecast Amid COVID-19 Concerns
Growth in East Asia and the Pacific this year will likely be slower than previously thought, the World Bank said on Thursday, as many countries in the region grapple with…
Taiwan’s TSMC Posts 11% Jump In Q2 Profit On Global Chip Demand
Taiwan’s TSMC (2330.TW), posted an 11% rise in quarterly profit on Thursday, boosted by a pandemic-led surge in global demand for chips that power devices such as smartphones and laptops.…
Record-Low Rates Spur Australia M&A Frenzy In 2021
Australia is seeing a flurry of deal-making so far this year, as record-low interest rates have given institutional investors and companies a well-funded war chest to chase higher valuations. From…
UK-Based Cybersecurity Firm Avast In Merger Talks With NortonLifeLock
UK-based cybersecurity firm Avast Plc (AVST.L) said on Wednesday it was in advanced talks over a merger with peer NortonLifeLock Inc (NLOK.O). If the deal goes through, it will be…
Asian Shares Find Support As Powell Shrugs Off Inflation
Asian shares held firm on Thursday after Federal Reserve Chair Jerome Powell said the U.S. economy was “still a ways off” from levels the central bank wanted to see before…
Exclusive Twitter Sees Jump In Govt Demands To Remove Content Of Reporters, News Outlets
Twitter Inc (TWTR.N) saw a surge in government demands worldwide in 2020 to take down content posted by journalists and news outlets, according to data released by the social media…
China’s Economy Grows Slower Than Expected In Second Quarter
China’s economy grew more slowly than expected in the second quarter, as tepid manufacturing activity, higher raw material costs, and fresh COVID-19 cases weighed on the recovery momentum. read more…
China’s Economic Recovery Loses Some Steam, Investors Eye More Policy Easing
China’s economy grew slightly more slowly than expected in the second quarter, weighed down by higher raw material costs and new COVID-19 outbreaks, as expectations build that policymakers may have…
South African Rand Becomes The Currency To Short As Risks Grow
Deadly riots. Sky-high unemployment. A surge in virus infections. Add to that rising U.S. inflation and prospects of Federal Reserve tapering, and South Africa’s rand is in a tight place.…
Ponzi Schemes Flourish In Nigeria’s Declining Economy
I want to introduce you to one of the biggest investment platforms in Nigeria, RackSterli,” the pop star Davido told his millions of fans in a video last December. “If…
Future Of Oil & Gas In Nigeria: Renewed Oligations From Private Sector
From catalysing oil and gas potential to optimising gas production, diversifying consumption, and addressing gas flaring challenges, debates about hydrocarbon production in Nigeria continue to dominate the energy scene. As…
Turkey Holds Rates Again As Inflation Rules Out Summer Cut
Turkey’s central bank kept its benchmark interest rate unchanged for a fourth month on Wednesday, as rising prices and a weakening lira blight the economy’s recovery from pandemic lockdowns. The…
Systemic Racism In England Affects Health To Wealth, Report Says
Racism in England is systemic and the government is “frustratingly slow” at implementing recommended solutions, according to a leading race-relations think tank. Hate crimes rose 6% in England and Wales…
How FG Can Woo Multinationals To Stock Market, Boost Profitability’
Experts have renewed calls for the Federal Government (FG) to adopt a policy that would help reduce persistent volatility in the nation’s Foreign exchange (Forex) market and stimulate capital market…
EU Set To Call Time On Combustion Engine Within Two Decades
The European Union is set to propose measures on Wednesday, as part of a broad climate package, that signal the end of petrol (gasoline) and diesel car sales within 20…
U.K. Vows To End Sales Of New Petrol And Diesel HGVs By 2040
The U.K. will end the sale of all new diesel and petrol heavy goods vehicles by 2040 and ultimately decarbonize all modes of domestic transport by 2050, under government plans.…
Major Oil Marketers Protest Restriction Of Import Licences To Refiners
The Major Oil Marketers Association of Nigeria (MOMAN) and the Petroleum Marketers Association of Nigeria (DAPPMAN) have kicked against the restriction of petroleum import licence to a limited number of…
Bank Of Canada Holds Interest Rate, Says It Will Curb Bond Purchases
The Bank of Canada held its key overnight interest rate at a record low 0.25% as expected on Wednesday and said it would cut its weekly net purchases of government…
Big Banks Seek To Curb “Speculative” Planned UK Forex Class Action
A proposed multi-billion pound claim against powerful banks over alleged foreign exchange (forex) rigging is too weak and speculative to be allowed to proceed as a U.S.-style class action, the…
Pound Spikes As Inflation Surge Ups Pressure On BoE To Hike Rates
The pound rallied on Wednesday morning as official data showed UK inflation continues to soar. Figures from the Office for National Statistics (ONS) showed consumer price inflation hit 2.5% in…
Analysis: Digital Rivals? Central Bank E-Cash Plans Prompt Lenders To Wade In
As central banks dabble with digital currencies, commercial lenders are ramping up efforts to influence policy and technical plans, according to more than half a dozen industry executives and public…
Apple, Goldman Plan ‘Buy Now, Pay Later’ Service To Rival Affirm
Apple Inc. is working on a new service that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the “buy now, pay later” offerings popularized…
‘UK Generated £1.9bn From Export To Nigeria In 2020’
The British Deputy High Commissioner to Nigeria, Ben Llewellyn-Jones has revealed that British firms operating in Nigeria were able to generate £1.9 billion through exports to Nigeria in 2020. He…
DMO To Auction N150bn FGN Bonds In July
In a circular issued on Monday, DMO said the bonds will be in three tranches, comprising N50 billion each. The first is a 10-year reopening bond to be offered at…
Unstable Sugar Price In Nigeria Caused By Increase In Foreign Exchange – NSDC
The National Sugar Development Council (NSDC) has revealed that sudden change or increase in sugar prices in the country is caused by the increase in foreign exchange. Speaking to newsmen…
Nigeria Hires Money Managers For $37 Billion Infrastructure Fund
Nigeria has picked four asset managers to run a $37 billion fund set up to drive investment in roads, railways and power projects in Africa’s largest economy. Vice President Yemi…
PBOC Reiterates Monetary Policy Unchanged Despite Surprise RRR Cut
The recent cut in the amount of money banks must keep in reserve doesn’t mean a change in the China’s monetary policy, the People’s Bank of China said. “The RRR…
Petrol Subsidy Ends After Buhari Signs PIB – Minister
The assent of the Petroleum Industry Bill by the President, Major General Muhammadu Buhari (retd.), will put an end to petrol subsidy in Nigeria, the Minister of State for Petroleum…
Forex Shortages Force Nigerian Corporates To Turn To Parallel Market
Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to source this resource on the parallel market, a former official with the Lagos Chamber of Commerce and Industry…
ABCON Advocates Reforms To Curb Govt Spending, Public Debt
Association of Bureaux De Change Operators of Nigeria (ABCON) has advocated for reforms that will reduce government spending and also curb the rising trend in the nation’s public debt. Meanwhile,…