Central Bank Of Nigeria Clarifies Reports of Non-Remittance of 80% surpluses into Consolidated Revenue Fund
The Central Bank of Nigeria (CBN) has denied allegations that it failed to remit 80 per cent of its operational…
Month: September 2021
Banning Fossil Fuel Investments Will Hurt Nigeria
The Vice-President, Prof. Yemi Osinbajo, has said the banning or restriction by a growing number of wealthy nations of public…
NAICOM Stops Manual Processes For Insurance Companies
The National Insurance Commission has issued a directive to transit from manual to online processing and all operational activities including…
China Bans Reality Talent Shows
China banned reality talent programmes Thursday and ordered broadcasters to promote more masculine representations of men, in a wide-ranging crackdown…
Nigeria’s Eurobonds Debts Rise By $9.37bn In Five Years
Commercial loans obtained by Nigeria through Eurobonds rose from $1.50bn as of December 31, 2015 to $10.87bn as of December…
Stock Futures Are Muted as September Gets Off To a Slow Start
U.S. stock futures were little changed early Thursday morning after the S&P 500 finished the first trading session of the…
Nio And Xpeng Deliveries Fall in August As Chip Shortage Hits China’s Electric Carmakers
Nio and Xpeng deliveries dropped in August as the chip shortage and supply chain constraints hit the Chinese electric vehicle…
European Markets Lackluster As Markets Gear Up For U.S. Jobs Data; Swedish Orphan Biovitrum Up 24%
European stocks edged higher on Thursday morning as investors geared up for the next reading of U.S. nonfarm payrolls which…
European Central Bank To Announce Tapering In December, Analysts Say
The European Central Bank will announce the reduction of its Covid-related stimulus in December, four analysts told CNBC amid an…
S&P 500 Closes Flat On First Day Of September, Nasdaq Ekes Out A Record Close
The S&P 500 closed the first trading day of September near the flatline as the strength in technology shares faded,…
Private Payrolls Increase By Just 374,000 in August, Far Short Of The 600,000 Estimate, ADP Says
U.S. companies created far fewer jobs than expected in August as the Covid resurgence coincided with cutbacks in hiring, according…
Shares In Asia-Pacific Mixed; Australia Records Higher-Than-Expected Trade Surplus In July
Shares in Asia-Pacific were mixed in Thursday trade as Australia reported a higher-than-expected trade surplus in July. The S&P/ASX 200…
Apple Will Let Some Apps Guide Users To Websites To Make Payments, Bypassing Apple’s Cut
Apple on Wednesday said that some apps will be allowed to provide a link to their websites to prompt users…
Chinese Regulators Summon 11 Ride-Hailing Firms, Including Didi, Over ‘Illegal Behavior’
Chinese regulators have summoned and interviewed 11 ride-hailing firms asking them to rectify non-compliant behavior. The Ministry of Transport, along…
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…
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…