Ranking The Currencies That Could Unseat The Dollar
This is the second installment in a series on global currencies. The first part details the forces eroding the U.S. dollar’s…
Day: August 16, 2021
BOE’s Inflation Alarm Deemed Overly-Cautious By Economists
Bank of England policy makers are being overly-alarmist on their outlook for inflation, economists’s forecasts suggest, casting doubt on the…
Cardano’s ADA Token Is Now World’s Third-Largest Cryptocurrency
A little-known digital token linked to the Cardano blockchain has just become the third-largest virtual currency in the world as…
China’s Oil Refining Tumbles To 14-Month Low Amid Crackdown
China’s oil refining slumped to the lowest level in 14-months as private processors scaled back operations amid a crackdown by…
Australian Dollar Down On Weak China Data. Is AUD/USD Ready To Break Out?
The risk-off sentiment from early Monday morning in Asia continued after the release of Chinese data that was lower than…
Manufacturers Urge Africa To Tap From AfCFTA
Whitfield, also the president of the Association of African Automotive Manufacturers (AAAM), in a statement, lamented that fewer vehicles were…
Oil Prices Drop Amid Faltering Demand Outlook In China
Oil prices fell by about 1% on Monday, dropping for a third session, after official data showed that refining throughput…
Firms With Untraceable Addresses Owe N17.69bn Tax In 2015 -FIRS
The Federal Inland Revenue Service confirmed that companies with untraceable addresses evaded taxes to the tune of N17.69bn, according to…
Is Shell Oil’s $110 Million Payment For Spill A Slap Or Remedy?
Second, The consequence of oil spills and environmental damages are reflected in the wreckage and mangled landscape and tortured lives…
Import Duties Evasion: MDAs, Others Under Fire
Worried by the rising evasion of import duties and tariffs by some Ministries, Departments, and Agencies (MDAs) who collude with…
Nigeria’s Buhari Signs Bill To Overhaul Oil Industry Into Law
Nigerian President Muhammadu Buhari signed into law long-awaited legislation to overhaul the oil and gas industry in Africa’s biggest crude…
Nigerian Stocks Hit 14-Week High Amid Investors’ Wild Scramble For Shares Of Flour Makers
Nigerian stocks jumped 0.08 per cent on Friday, taking the benchmark index to 39,522.34 basis points, a height last reached…
Loss Of FDIs To Neighbours Worry Manufacturers As Challenges Linger
As prevailing economic challenges undermine investments and disposable incomes, local manufacturers have expressed concerns about the loss of investments to…
Sterling Slips As Global Markets Turn Cautious
The British pound slipped in early trading on Monday, hurt by a fall in risk appetite globally, after economic data…
Nigeria Recorded $85.21bn Net Foreign Liabilities – IMF
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International…
Nigeria’s Inflation Rate Projected To Drop To Single Digit In 2022 – CBN Official
The Central Bank of Nigeria has said that Nigeria’s inflation rate may drop to single digit in 2022. The apex bank’s Director…
Rewane – How Nigeria Can Attract More Foreign Direct Investments
A member of the President’s Economic Advisory Council and Managing Director, Financial Advisory Council, Mr. Bismarck Rewane, in this interview provides…
Foreign Reserves Resume Decline After Rising To $33.59bn
The foreign exchange reserves in Nigeria have started declining again after rising to $33.59bn, the highest level in more than…
Meet The Nigerian Artist Illustrating The Human Experience With A Ballpoint Pen
From a distance, Jacqueline Suowari’s larger-than-life portraits look like monochromatic photographs overlaid with colorful graphics. Upon closer inspection, you see…
In 5 Days, I&E FX Turnover Jumps 0.5% To $681m
Last week, the total value of transactions recorded at the Investors and Exporters (I&E) window of the foreign exchange (FX)…
Finnfund Backs Telecom Infrastructure Provider With Debt
Finnish development finance institution Finnfund is backing Bandwidth and Cloud Services Group (BCS), a telecom infrastructure provider that operates in…
Pearl Capital Invests Mix Of Debt And Equity In Cassava Processor
Yield Uganda Investment Fund, an agribusiness impact vehicle managed by Pearl Capital Partners, has committed $2.5 million to Pura Organic…
International FC Mulls Participation In Brimore’s Upcoming Series A Round
Egypt-based ecommerce startup, Brimore, is preparing to raise more funding to strengthen its business in Egypt after receiving a $3.5…
International Investors Lead F Intech Startup Moove’s Series A
Moove, Nigerian based mobility fintech startup raises $23m Series A funding to help it expand swiftly. Founded in 2019 by…
Old Mutual’s ULIMI Fund Invests In Malawian Macadamia Producer
ULIMI Fund, a private equity fund managed by Old Mutual Investment Group Malawi, has made an undisclosed amount of investment in…
Investment In Data Centre To Hit $174bn By 2023 — Schneider Electric
Schneider Electric, weekend, disclosed that investment in the data centre would hit $174 billion by 2023 following increasing demand. The…
81% Of Women Entrepreneurs In Middle East, Africa Own Digital Businesses
Despite the gender gap and social challenges, entrepreneurial women across the world and in the Middle East and Africa (MEA)…
Investors Chart Roadmaps For Federal Government Of Nigeria To Improve Non-Oil Sector’s Revenue Drive
LAGOS – Investors in the nation’s economy have called on the Federal Government to consider reform for key non-oil sectors of…
Nigeria Recorded $85.21bn Net Foreign Liabilities – IMF
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International…
Conglomerate Income Taxes Rise By 273 Per Cent Year-On-Year
Company income tax (CIT) realised in the second quarter (Q2) stood at N1.46 billion, up from N0.39 billion realised the…