Nigeria: Globacom Redefines TV Viewing With Glo TV Launch
In a bold step to redefine television viewing experience for all Nigerians, Globacom has announced the launch of Glo TV, an innovative TV streaming service for watching live linear TV,…
Nigeria: FG, States, LGAs To Get New Revenue Formula This Year –RMAFC
Twenty-eight years after the last revenue sharing formula was introduced, the Chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr Elias Mbam, yesterday, assured the three tiers of government…
Stocks Making The Biggest Moves Premarket: Dick’s Sporting, J&J, Express, Shoe Carnival, Others
Dick’s Sporting Goods (DKS) – The sporting goods retailer’s shares jumped 4.9% in the premarket, as its quarterly earnings beat estimates. The company also announced a $5.50 per share special…
Ray Dalio Is Wrong About China’s Tech Crackdown, Economist Says
China expert George Magnus disagrees with Bridgewater Associates’ Ray Dalio on Beijing’s tech crackdown. In a LinkedIn post this month, Dalio said investors were misconstruing a clampdown by China on…
Nigeria: FG Releases N1.3trn To Fund 2021 Capital Budget
The federal government has released N1.3 trillion to fund part of the 2021 capital expenditure budget of its Ministries, Departments and Agencies, MDAs. Disclosing this yesterday at the 2022 budget…
Nigeria: Reps Direct PPPRA To Produce Consumption, Revenue Remittances Records
The House of Representatives committee on Finance has directed the Pipeline Products Pricing Regulatory Agency (PPPRA) to reconcile its daily output of Petroleum Motor Spirit (PMS) and other petroleum products…
Nigeria: Ending Subsidies Puts Nigeria On Fiscal Sustainability Path
A former Governor of the Central Bank of Nigeria (CBN) and a former Emir of Kano, Sanusi Lamido Sanusi, has called on the federal government to stop subsidising power and…
Nigeria: Facebook Extends Marketplace Initiatives To 37 SSA Countries
Facebook has extended its marketplace initiatives to 37 countries and territories in sub-Saharan Africa. Already available in South Africa, Ethiopia, Kenya and Nigeria, the new destinations are Benin, Botswana, Burkina…
South Africa, Namibia, Nigeria Top Global Unemployment Rates – Report
Nigeria has the third highest unemployment rate at 33.3 per cent, while South Africa has the highest rate among a list of 82 countries, Bloomberg reported on Tuesday. According to…
Nigeria: NGX Securities Lending Market Value Rises To N513m
According to NGX’s most recent report, there has been an uptick in stakeholders’ participation as 2.3 million units of MTNN valued at N395.6 million was borrowed. Securities lending is the…
Nigeria: Capitalisation Rises By N13 Billion As NGX Marks Diamond Jubilee
Despite price losses that outweighed gains, the bulls upstaged the bears at the end of yesterday’s transactions on the equities sector of the Nigerian Exchange Limited (NGX), as market capitalisation…
Nigeria: Collaboration Between Registrars And Capital Market Operators, Key To Solving Unclaimed Dividends
Collaboration between Registrars and Capital Market Operators is vital to reducing the high cases of Unclaimed Dividends in Nigeria. The Managing Director/CEO of Africa Prudential Plc, Mr. Obong Idiong, made…
Hunters Brings In $30M Series B To Grow XDR Security Tech
With the growing volume of ransomware and supply chain security attacks, there is a need for organizations to more rapidly detect threats. It’s that opportunity that startup Hunters is looking…
Stocks, Futures Steady; China Tech Rebound Stalls: Markets Wrap
Stocks and U.S. futures were steady as a rebound in Chinese technology shares stalled and markets settled into a holding pattern ahead of the Federal Reserve’s Jackson Hole policy symposium…
European Shares Subdued Ahead Of Fed Summit
European markets were muted on Wednesday, tracking global sentiment as investors await a key meeting of central bankers. The pan-European Stoxx 600 inched 0.15% higher in early trade, with travel…
The U.S. Is Reviewing Its Trade Policy With China
Seven months since U.S. President Joe Biden took office, his administration has yet to establish a trade policy with China. U.S. Trade Representative Katherine Tai said Tuesday the “Biden-Harris Administration…
Treasury Yields Edge Higher As Investors Gear Up For Fed Summit
U.S. Treasury yields edged higher on Wednesday morning, as investors geared up for the Federal Reserve’s Jackson Hole symposium. The yield on the benchmark 10-year Treasury note added less than…
Biden To Host Tech, Finance And Energy CEOs For Security Summit At White House Following Wave Of Cyberattacks
President Joe Biden will meet Wednesday with top executives from several of the largest companies in tech, financial services, insurance, energy and education to discuss how to combat cybersecurity threats.…
Retail Trading Apps In Nigeria Face A Defining Moment
There are four startups that allow Nigerians to invest in shares of public companies on US exchanges. But unlike Trove, Bamboo, and Chaka, Risevest’s app is not for users who…
Smuggling: NCS, NSA Grant Border Stations Waivers, Says DPR
The Department of Petroleum Resources has faulted the claim by the Nigeria Customs Service that it was partly responsible for the continued smuggling of Premium Motor Spirit popularly called petrol,…
South African Unemployment Rate Rises To Highest In The World
South Africa’s unemployment rate surged to the highest on a global list of 82 countries monitored by Bloomberg. The jobless rate rose to 34.4% in the second quarter from 32.6%…
IMF’s $650bn Reserves Liquidity Support For Nigeria, Others Takes Off
The International Monetary Fund (IMF) has announced the take-off of its $650 billion set aside under its special drawing right (SDR) to provide liquidity to countries with foreign exchange reserves…
Oil Extends Gains On Brighter Demand Outlook, Mexico Outages
The International Monetary Fund (IMF) has announced the take-off of its $650 billion set aside under its special drawing right (SDR) to provide liquidity to countries with foreign exchange reserves…
Discos Beg Customers As Blackout Worsens On Grid Collapse
The national power grid has collapsed for the second time in less than a month, worsening the blackout being experienced by households and businesses in some parts of Nigeria. The…
Investors’ Lose N25bn As Stock Market Open Week Negative
Trading at the Nigerian equities market extended last week’s negative performance to the beginning of business for the week yesterday, as investor’ profit-taking in Lafarge Africa Plc, PZ Cussons Nigeria…
Gas Consumption Lowest In Nigeria Despite 206 Tcf Reserves
Despite boasting of a 206 trillion standard cubic feet of gas reserves and topping major countries, Nigeria’s per capita consumption of gas is the lowest in the sub-Saharan African region,…
Dollar Holds Near Five-Day Low; Kiwi Dollar Picks Up After Hawkish Comments
The dollar was steady on Tuesday, holding near the previous session’s five-day low, as markets appeared less concerned by the spread of the Delta variant, while the New Zealand dollar…
Sterling Holds Gains Vs. Dollar After Risk-Led Rebound
Sterling edged lower against the dollar on Tuesday, but held most gains made against the greenback on the back of a risk rebound at the start of the week that…
Agusto Report: CBN’s Standardised CRR Shook Banks’ Profitability In 2020
Nigeria’s foremost research house and rating institution, Agusto & Co Limited has disclosed that Central Bank of Nigeria’s (CBN) standardised Cash Reserve Requirement (CRR) of 27.5 per cent had a…