Gold Nudges Higher As Weaker Dollar Lends Support
Gold prices inched up on Thursday, extending gains into a third session as a softer dollar made the metal cheaper for buyers holding other currencies. Spot gold rose 0.2% to…
Power Generation Companies In Nigeria suffered Loss Of N1.66 Trillion In Seven Years
Power generation companies in Nigeria have said they suffered a loss of N1.66tn in seven years as a result of non-payment for deemed capacity. The Executive Secretary, Association of Power…
Turkey And Nigeria Sign A Bilateral Agreement On Improving Security And Trade
The need to improve security and trade between Nigeria and Turkey formed the highlight of the bilateral agreements signed yesterday in Abuja between President Muhammadu Buhari and his Turkish counterpart,…
Microsoft: Window 11 Is Available For Free Upgrade On Eligible Windows 10 PCs
Microsoft has announced the availability of Windows 11 around the world, through a free upgrade on eligible Windows 10 PCs and on new PCs pre-installed with Windows 11. A few…
Evergrande Shares Dropped By Over10 Percent
China Evergrande shares briefly dropped more than 10% in opening trade on Thursday, after a deal to sell some of its assets to Hopson Development Holdings fell through. Hopson shares…
Central Bank Of Nigeria To Promote Entrepreneurship By Supporting Youths With Grant
The Central Bank of Nigeria has said it will support youths in tertiary institutions with grants to promote entrepreneurship and reduce unemployment. The CBN disclosed this on Wednesday in a…
International Renewable Energy Agency And International Labour Organization Partners To Promote Employment For Women
The Directors-General of the International Renewable Energy Agency and the International Labour Organization have signed an agreement to reinforce their cooperation to promote employment and decent jobs for women and…
Lagos State Ministry Of Education Train 50 Teachers In Partnership With US Consulate General
The Lagos State Ministry of Education has partnered with the US Consulate General to train 50 teachers from the Education District One in a STEM training workshop. The teachers who…
Nigeria Maintains Position As Africa’s Most Valuable Nation Brand Amid Pandemic
Despite Covid-19 pandemic economic shocks, Nigeria has retained its position as Africa’s most valuable nation brand for the third consecutive time, according to the latest 2021 Nation Brands report. The…
#EndSARS: Tension In Lagos Over One Year Memorial
Police: Only indoor, virtual events will be allowed • Police lack powers to ban protests, Falana insists • Protesters to storm Lekki tollgate in car procession • No right-thinking Nigerian…
Bitcoin Hit All Time High
Bitcoin notched a fresh all-time high on Wednesday as investors cheered the successful launch of the first U.S. bitcoin futures exchange-traded fund. The world’s largest cryptocurrency climbed about 3% to…
China’s Yuan ouches Firmest Point Since June After Strong Fixing
China’s yuan briefly rose to its highest point against the U.S. dollar in more than four-and-a-half months on Wednesday after the central bank set a much stronger daily fixing for…
FX Turnover On FMDQ Drops By 28.4% On Reduced CBN Interventions, Foreign Portfolio Investment
Following reduced interventions by the Central Bank of Nigeria (CBN) and a decline in foreign portfolio investment (FPI) net flows, total Foreign Exchange (FX) turnover on FMDQ OTC Securities Exchange…
Chinese Exporters Hikes Price By 10%
Chinese exporters are hiking prices, injecting inflation risk into a global economy already hit by supply chain and shipping disruptions. At a trade fair in the manufacturing hub of Guangzhou,…
NIgerian Railway Corporation Resumes Cargo Movement From Lagos To Kano, Kaduna Dry Port
The Nigerian Railway Corporation (NRC), has resumed movement of cargoes in containers to Kano and Kaduna Inland Dry Port. Ismail Yusuf, Managing Director of Inland Containers Nigeria Limited (ICNL), who…
Rising Transportation,Shelter And Food Price Push Canada Inflation Up By 4.4%
Canada’s annual inflation rate accelerated to an 18-year-high in September, driven by rising transportation, shelter and food prices, data showed on Wednesday, putting the focus on the Bank of Canada…
Dollar Drops As Rate-Hike Bets Profilerate Elsewhere, Yuan Hits 4-Mth Peak
The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting…
Enhancing Credit Recovery Mechanism To Save Economy
James Emejo writes that just as lack of access to credit could hamper business and retard economic growth, inability/refusal to pay back borrowed loans could adversely affect the economy and…
Mortgage Demand Drop By 6.3% Due To Increase In Mortgage Interest Rate
Climbing mortgage interest rates caused another drop in mortgage demand for both refinances and home purchases. Total application volume fell 6.3% last week compared with the previous week, according to…
Goldman Sachs To Integrate Virtual Card Technology By Partnering With American Express
Goldman Sachs is partnering with American Express to upgrade its digital cash management offering. The investment bank is leaning on the world’s biggest issuer of business charge cards in its…
Sterling Hits One-Month High Vs Dollar As UK Rate Hike Anticipation Builds
Sterling hit a four-week high against the dollar on Tuesday as expectations mount the Bank of England (BoE) will hike interest rates, while the greenback dipped as the rapid rise…
Bitcoin Hit $64,241 After ETF Listing
The price of Bitcoin surged, near the all-time high after ProShares Bitcoin Strategy ETF, the first bitcoin-linked exchange-traded fund (ETF) listed on the New York Stock. On Tuesday, Bitcoin rose…
Dollar Sale Ban To BDCs Shows Up In Rising Cost Of Cooking Jollof Rice
The average cost of cooking a pot of Jollof rice for a family of five has increased to N8,000.50 from N7,618 within the last three months according to the latest…
Nigerians Lose Over N22bn To Imagine Lenders, As Owners Skip Town
Not less than N22 billion in investments seem to have gone down the drain as owners of Imagine Global Solutions, promoters of Imagine Lenders Microfinance have allegedly skipped town with…
Commercial Fifth Generation (5G) Network Is Now Serving More Than 500 million subscribers
Commercial Fifth Generation (5G) network deployment is now in 176 countries around the globe, serving more than 500 million subscribers. This was disclosed at the12th yearly Global Mobile Broadband Forum…
Kaspersky Unveils Free Platform To Encourages Small Business Security
Kaspersky has unveiled a free platform for small businesses to improve their security. The platform, called ‘Kaspersky Cybersecurity on a Budget’, provides small businesses with tips and tricks to improve…
E-Naira Will Be Available To All Nigerians: CBN
The Central Bank of Nigeria has said the eNaira will be available to Nigerians without Internet-enabled phones. The CBN disclosed this in a document obtained by our correspondent, with the…
Release Of New Chip Surge Alibaba Shares
Alibaba’s Hong Kong shares rallied as much as 9% on Wednesday following reports that its founder Jack Ma traveled to Europe and after the release of a new chip. The…
Association of Nigerian Electricity Distributors Lose N97 Billion In Q1
Electricity distribution companies have said a total of N97bn was lost in the first quarter of this year to energy theft, capping of estimated billing and other factors. The Association…