Yuan’s Global Use Faces A Test As Xi’s Reforms Rattle Markets
The Chinese yuan has been making inroads in the world of cross-border payments in recent years, but a pair of…
Day: August 17, 2021
Forex: Labour Backs CBN, Makes Case For Manufacturers
Following the current foreign exchange squeeze being experienced in the country, organised labour, under the aegis of Association of Senior…
Pound Hits 3-Week Low Vs Dollar As Risk Appetite Weakens
Britain’s pound hits its lowest level in three weeks against the dollar on Tuesday as weakening risk sentiment weighed on…
Govt To Borrow N5.62trn For 2022 Budget Deficit
The federal government has submitted a proposal to borrow N5.62 trillion to finance the budget deficit in the 2022 budget.…
Labour Seeks Special Allocation Of Forex To Manufacturers
Organised Labour has pleaded with the Federal Government to devise a special arrangement to ensure that foreign exchange, forex, is…
2022 Budget: FG Crashes Capital Expenditure, Despite Higher Earnings
The Federal Government’s fiscal operations in 2022 is set for contraction, despite higher oil earnings and earnings from increased exchange…
Oil Rises On Bargain-Hunting, Expectations That OPEC+ Will Not Boost Supply Soon
Oil prices rose on Tuesday, recovering from the previous day’s losses, as investors sought bargains and on expectations that major producers…
Nigerian Equities Beat Global Stocks With N371b Gain
Nigerian equities closed weekend upbeat ahead of other major global stock markets with increased demand for Nigerian shares fuelling a…
Flee From Investments With Unrealistic Returns—SEC Warns Nigerians
For the umpteenth time, Nigerians have been warned to flee from investments that promise to offer them unrealistic returns as…
India’s July Palm Oil Imports Plunge 43%, Says Trade Body
India’s July palm oil imports plunged 43% from a year earlier to their lowest in five months, a leading trade…
Tesla Expands Legal, External Relations Workforce In China
Tesla Inc (TSLA.O) is hiring managers for legal and external relations teams in China, according to a job post on its Wechat…
EV Startups Hunt For Low-Cost Roads To Mass Production
Electric car and van startups racing to become the next Tesla Inc (TSLA.O) all want to avoid Elon Musk’s journey through “manufacturing…
Home Depot’s U.S. Sales Slow As DIY Frenzy Tapers Off
Home Depot Inc (HD.N) on Tuesday fell short of U.S. same-store sales estimates for the first time in nearly two years, as…
Walmart Raises Forecast As People Return To Stores; Online Sales Slow
Walmart Inc (WMT.N)increased its annual U.S. same-store sales forecast after beating analysts’ estimates on Tuesday, as shoppers coming out of lockdown…
Automobile Shortages Weigh On U.S. Retail Sales
U.S. retail sales fell more than expected in July as shortages weighed on purchases of motor vehicles, suggesting a moderation…
Bill Ackman SPAC Sued , Plaintiffs Say Sponsors Got ‘Staggering Compensation’
Bill Ackman’s troubled SPAC was hit with a lawsuit Tuesday that alleged the blank-check company awarded “staggering compensation” to its…
Walmart Earnings Top Estimates Fueled By Strong Grocery Sales And Back-To-School Spending
Walmart’s second-quarter earnings exceeded Wall Street’s expectations on Tuesday as the retail giant gained ground in its grocery business and…
ECOWAS Fixes January 2025 Deadline For Adoption Of Cleaner Fuels
Member countries of the Economic Community of West African States (ECOWAS) have set a January 2025 deadline for the adoption…
Economic Outlook Getting Better, Adedipe, Others Claim
Chief Consultant of B. Adedipe Associates Limited, Dr. Biodun Adedipe and Director, Monetary Policy Department of the Central Bank of…
Forex Scarcity, Others Put Pressure On FMCG Companies’ Profits
Analysts have identified scarcity of foreign exchange, inflationary pressures and rising input costs due to naira devaluation as responsible for…
Equities Market Declines By N9bn On Profit-Taking In Banking, Oil & Gas Stocks
Trading on the Nigerian equities market yesterday started the week marginally lower, as investors profit-taking in Banking and Oil &…
Afghanistan Is A ‘Disaster,’ But These Two Market Risks Are Higher On Invesco’s Radar
There are two risks high on Invesco’s radar, but the Taliban takeover in Afghanistan isn’t one of them. Kristina Hooper,…
Treasury Yields ebb Lower Ahead Of Retail Sales Data
U.S. Treasury yields ebbed lower on Tuesday, ahead of the release of July’s retail sales data. The yield on the…
Again, SEC Warns Against Patronage Of Ponzi Schemes
The Securities and Exchange Commission (SEC) has once again, bemoaned the proliferation of fraudulent investment outfits in the capital market,…
China May Align Itself With Taliban And Try To Exploit Afghanistan’s Rare Earth Metals, Analyst Warns
Afghanistan is estimated to have trillions of dollars worth of rare earth metals, and countries — such as China —…
Europe Markets Set To Open Lower As Investors Monitor Inflation Data, Afghanistan Crisis
European markets are set to open slightly lower on Tuesday, on track to extend losses after snapping a 10-day winning…
China Seeks To Tighten Rules On Unfair Internet Competition, Sending Tech Shares Lower
China’s market regulator issued draft rules on Tuesday aimed at stopping unfair competition on the internet, as Beijing continues its…
United State Stock Futures Dip After Dow, S&P 500 Close At Record Highs
U.S. stock index futures were slightly lower during overnight trading Monday, after the Dow and S&P 500 closed at record…
Chinese Electric Scooter Company Niu Shakes Off Pandemic Slump And Predicts Strong Sales Ahead
Almost three years since Chinese electric scooter start-up Niu Technologies listed in the U.S., the company has not only…
T-Mobile Says It Found Unauthorized Access To Data
T-Mobile US Inc (TMUS.O) on Monday acknowledged a data breach but said it was yet to find if any customer information has…