Nigeria: NNDC’ll Pay Shareholders Dividend, Says Chairman
The Chairman, Board of Directors of New Nigeria Development Company Limited, Tanimu Yakubu, has said the company’s shareholders will receive…
Day: September 1, 2021
Financials Took S&P 500 Leadership In August, And Traders See Continued Strength In Two Stocks
Financials led the market in a red-hot rally in August. The sector gained 5% last month, narrowly edging out communications…
Virgin Galactic ‘Could Really Take Off’ If It Breaks Above This Level, Trader Says As Space Stock Gets Analyst Love
Virgin Galactic could be setting up for a sustained move higher. Jefferies initiated coverage of the space travel stock with…
Stocks Making The Biggest Moves Midday: Uber, Apple, Wells Fargo And More
Ambarella — Shares of the semiconductor company surged 20% after Ambarella beat expectations on the top and bottom lines for…
Nigeria: IDB, Others Earmark $520m For Nigeria’s Agro-Industrial Zones
The Senior Special Adviser to the President of the Africa Development Bank on Industrialisation, Prof Banji Oyeyinka, has disclosed that…
New Law Stokes Tension In Nigeria’s Blighted Oil Delta
Local communities in Nigeria’s Delta Region have spent years waiting for lawsuits against foreign oil companies for environmental damages. Tensions…
Dollar Weakens After ADP Miss, Euro Hits Fresh One-Month High
The dollar fell against a basket of major currencies on Wednesday after a report on the U.S. labor market fell…
Dangote Refinery Complex In Nigeria Set To Cost $19 Billion
A giant oil refinery complex being built in Nigeria by a company owned by Aliko Dangote, Africa’s richest person, will…
South African Factory Mood Rises As Economy Steadies After Riots
An index measuring South African factory sentiment jumped by a record in August as conditions normalized after deadly riots, looting…
External Reserves Gain $500m In One Week, Near $34bn
Nigeria’s external reserves rose by $500m in one week to the highest point in more than two months, according to…
Uniform Men Extorting Importers At Ports, Says NPA Boss
The Acting Managing Director, Nigeria Port Authority (NPA), Mohammed Bello-Koko, on Tuesday accused Naval personnel and Police officers in Lagos…
‘$3.35b SDR To Bring Forex Market Under Control’
EFG Hermes, financial services corporation in frontier emerging markets, says the release of the $3.35 billion Special Drawing Rights (SDRs)…
CBN Announces New Appointments
The Central Bank of Nigeria (CBN) has confirmed the appointment of Mr. Osita Nwanisobi as the Director, Corporate Communications Department,…
Yuan Edges Down After Weak Factory Activity, Awaits More Cues
China’s yuan softened against the U.S. dollar on Wednesday, after signs of slowdown in factory activity and on expectations of…
Online Dating Company ParshipMeet Prepares For IPO In 2022
Rivals such as Bumble and Tinder-owner Match Grouping trade at about 50 times their expected core earnings. That means ParshipMeet could be valued at more than 4 billion euros in the IPO, people close to the matter said.
Hewlett Packard Enterprise Wins $2Bln Computing Service Deal With U.S. National Security Agency
Hewlett Packard Enterprise Co (HPE.N) on Wednesday said it won a 10-year, $2 billion contract to supply high-performance computing systems to the…
Google Appeals France’s ‘Disproportionate’ $591 Million Fine In Copyright Row
Google (GOOGL.O) said on Wednesday it was appealing against a 500 million euro ($591 million) fine imposed by France’s antitrust watchdog in…
Adesina Hails Singapore’s Huge Investments In Africa
Akinwumi Adesina, president of the Africa Development Bank (AfDB), has hailed Singapore’s huge investments in Africa amid the Covid-19 pandemic. Speaking at…
Nigerian Banks Ask Customers To Return Unutilised Dollars Within 2 Weeks
Nigerian banks have asked customers to return unutilised dollars within two weeks from the day of purchase, in response to…
Oil Price Firms Before OPEC+ Policy Meeting
Oil prices rose on Wednesday before an OPEC+ meeting at which the producer club is expected to stick to a…
Dutch E-bike Maker Van Moof Raises $128 Million To Expand
Dutch electric bicycle maker Van Moof on Wednesday said it has raised $128 million to expand production and speed its…
FG Disburses N56.8bn To One Million MSMEs
The Federal Government has said that it has disbursed N56.8bn to one million Micro, Small and Medium Scale businesses under…
Power Losses Stifle Oil firms Recovery Efforts After Hurricane Ida
Energy companies’ efforts to get workers back to production platforms and refineries to make repairs after Hurricane Ida lashed Louisiana…
Exclusive Chinese State Firms To Take Big Stake In Ant’s Credit-Scoring JV -Sources
State-backed firms are set to take a sizeable stake in a key Ant Group asset for the first time, three…
China To Step Up Financing Support For Small Firms
China will boost financing support for small firms by increasing annual relending quotas by 300 billion yuan ($46.39 billion), the…
Nigeria’s Center For Disease And Control (NCDC) Boss, Chikwe Ihekweazu, Appointed Assistant DG of WHO
Dr. Chikwe Ihekweazu of Nigeria’s Center for Disease and Control has been appointed Assistant Director-General of the World Health Organization (WHO) in charge of Health Emergency Intelligence with effect from November 1, 2021
OPEC, Other Meet To Decide On Production Increase
The Organisation of the Petroleum Exporting Countries and its allies will meet on Wednesday (today) to decide whether to press…
Asia stocks mixed; private survey shows Chinese factory activity shrinking in August
Shares in Asia-Pacific were mixed on Wednesday, as a private survey showed shrinking Chinese factory activity in August. Mainland Chinese…
Gold Listless As Investors Seek Direction From U.S. Jobs Data
Gold prices were little changed on Wednesday as investors awaited a key U.S. jobs report for clues on when the Federal…
Stock Futures Rise Following Another Record-Setting Month For The S&P 500
U.S. stock futures were higher in early morning trading on Wednesday after the S&P 500 notched a seven-month win streak…