Treasury Yields Climb, 10-Year Rate Rises To 1.19%
U.S. Treasury yields climbed on Tuesday morning, with the 10-year rate rising to top 1.19%, despite concerns about a slowdown in growth. The yield on the benchmark 10-year Treasury note…
Nigerians Spend Over N100 Billion On Browsing In 2020
The Nigerian telecommunication industry recorded significant growth in the year 2020, as Nigerians consumed a total of 205,880.4 terabytes worth of data in the year. This is according to the…
Zoom To Settle US Privacy Lawsuit For $85 Mn
Zoom, the video conferencing firm, has agreed to settle a class-action US privacy lawsuit for $85 million, it said Sunday. The suit charged that Zoom’s sharing of users’ personal data…
Senegal Seeks Nigeria’s Support To Develop Oil, Gas Sector
The Minister of State for Petroleum Resources, Chief Timpre Sylva, has commended the effort of the Senegalese government in seeking Nigeria’s support for the development of its oil and gas…
Senate Uncovers Irregularities In N1.1tr Federal Government Of Nigeria Investments At Financial Institutions
The Senate has uncovered irregularities in N1.1 trillion Federal Government investments in Crown Agents Bank and other financial institutions. Crown Agents Bank is a United Kingdom (UK) regulated provider of…
NNPC Set To Declare First Profit To Nigerians
The Nigerian National Petroleum Corporation (NNPC) has announced that it will declare its first profit to Nigerians as it prepares to release its 2020 financial statements in the third quarter…
UAC Of Nigeria Reports N46.5bn Revenue In H1 2021
UAC of Nigeria Plc has announced N46.5billion revenue in its unaudited result and accounts for half year ended June 30, 2021, about 27 per cent increase compared to N36.6billion reported…
Economists Fear Europe’s Recovery Could Be Derailed By One Key Issue
European consumers are proving more reluctant to spend money this summer, and it could hurt the economic recovery following the shock from Covid-19, experts told CNBC. The behavior marks a…
Transcorp Hotels Records 84% Revenue Growth
Transcorp Hotels Plc has announced its un-audited financial statements for the half-year ended June 30, 2021. The results published on the Nigerian Exchange Group showed that revenue rose by 84…
Stock Investors Reap N30bn As 18 Firms Gain
Equities listed on the Nigerian Exchange Limited gained N30.03bn at the end of trading on Monday, even as the number of losers surpassed the gainers. The NGX All-Share Index gained…
Anxiety Over Earnings Pushes Indices Up By N327 Billion In July
Anticipation of improved half-year (H1) earnings and accompanied dividend declarations triggered bargain-hunting on the equities sector of the Nigerian Exchange Limited (NGX) last month, causing investors’ fortune to soar by…
Twitter’s Dorsey Leads $29 Bln Buyout Of Lending Pioneer Afterpay
Square Inc (SQ.N), the payments firm of Twitter Inc (TWTR.N) co-founder Jack Dorsey, will purchase buy now, pay later pioneer Afterpay Ltd (APT.AX) for $29 billion, creating a transactions giant…
Crypto Sector Sees Outflows For 4th Week In A Row, CoinShares Data Shows
Cryptocurrency investment products and funds posted outflows for a fourth consecutive week, the bulk of which came from bitcoin products, which also experienced its fourth straight weekly outflow, data from…
StanChart Resumes Dividends And Buybacks As Profit Recovers
Standard Chartered PLC (STAN.L) posted a higher than expected 57% jump in first-half pretax profit and announced a $250 million share buyback, with the bank also resuming dividend payments by…
SSE Makes $1.7 Bln Scotia Gas Exit In Low-Carbon Push
Britain’s SSE (SSE.L) on Monday agreed to sell its entire 33.3% stake in Scotia Gas Networks (SGN) for 1.225 billion pounds ($1.70 billion) as the power producer sharpens its focus…
Exclusive ADB, Citi, HSBC, Prudential Hatch Plan For Asian Coal-Fired Closures -Sources
Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia’s coal-fired power plants in order to lower…
CBN FX Policies Discouraging Foreign Investors—Muda Yusuf
The immediate past director-general (DG) of the Lagos Chamber of Commerce Industry (LCCI), Mr Muda Yusuf, has blamed the Central Bank of Nigeria (CBN) for the low influx of foreign…
ABCON Keeps Mum On CBN’s Sanction
Alhaji Aminu Gwadabe, the President of the Association of Bureaux de Change Operators of Nigeria (ABCON), has refused to comment on the action of the Central Bank of Nigeria (CBN)…
External Reserves Gain $280m In Two Weeks
The country’s external reserves have returned to a growth path with a gain of $280m in two weeks, the latest figures from the Central Bank of Nigeria have shown. Figures…
Apapa, Tin Can Ports Independent Marketers Send SOS Over Customs’ Activities
Independent marketers at the Apapa and Tin Can Island seaports in Lagos have sent a distress call to the Federal Government over what they regard as the high-handedness of the…
MTN Nigeria To Invest $1.5 Billion To Expand Broadband Over Three Years
MTN Nigeria plans to invest 600 billion naira ($1.5 billion) over the next three years to expand broadband access in Africa’s most populous country, its chief executive said on Monday.…
Canada GDP: Economy Shrank In May But Picked Up In June With Reopening
Statistics Canada says real gross domestic product (GDP) contracted 0.3 per cent in May during lockdowns, after a 0.5 per cent decline in April. The decline in May is in…
New CBN Forex Policy A Step In The Right Direction But…
Until recently, the Central Bank of Nigeria expended nearly half a billion dollars every month in meeting the dollar demand of Nigerians through a third-party platform: Bureau de Change operators.…
Russia’s Oil, Condensate Output Rises Amid Higher OPEC+ Quotas
Russia increased oil production in July for the first time in three months, after more generous quotas were extended to the entire OPEC+ alliance. Producers pumped 44.24 million tons of…
The Restriction Of Forex To BDC Operators
In a major policy shift, the Central Bank of Nigeria (CBN) last week halted the sale of foreign exchange (forex) to Bureau De Change (BDC) operators. The CBN Governor, Godwin…
NNPC Continues FAAC Deductions, To Withhold N174.4bn In August
The Nigerian National Petroleum Corporation (NNPC) is continuing its regime of deduction from the federation account as it set to withhold N117.4 billion from the three tiers of government, THISDAY…
United Kingdom Climate Investment and Foreign Secretary Dominic Africa Back Green Housing Fund’s First Close
Foreign Secretary Dominic Raab today welcomed Kenyan President Uhuru Kenyatta to Mansion House in London to announce £132 million of new UK investment in Kenya. He also launched the Nairobi…
Kasada Leverages Hospitality Fund With Development Finance Institution Debt Facility
Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, today announced that IFC will form a partnership with Kasada Hospitality Fund LP…
Vuna Partners Lands Commitment From Fund-Of-Funds
27four Black Business Growth Fund II Partnership (27four BBGF II), a blended finance partnership between the South African Government through the Jobs Fund, and South African institutional investors, has announced…
‘5G Deployment Will Boost Connectivity, Consumer Experience’
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has reiterated the importance of 5G deployment in enhancing consumer experience and speed in network connectivity.…