EU Forecast Sees Euro-Area Inflation Settling At 2.2% In 2022
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The new European Commission economic forecasts are set…
Month: November 2021
Operational Issues, Sabotage Drag Nigeria’s October Quota By 261,000bpd
Despite higher crude prices and allocation, as the Organisation of Petroleum Exporting Countries (OPEC) and its allies adjust monthly quota,…
Another Warning From Bank Of England As Bitcoin, Ether Hit Highs
The bitcoin price has reached a new record high, breaking through $68,000 and falling a touch to $67,920 at 11.05am…
Nigeria’s Debt Adequately Reported – World Bank
The World Bank in its latest report has commended Nigeria’s debt reporting citing that 40 per cent of low-income developing…
MTN Nigeria, Dangote Cement, Others Opex Hits N1.5 Trillion Driven By Inflation, FX Devaluation
On the heels of impressive earnings in nine months ended September 30, 2021, it has emerged that double-digit inflation, foreign exchange…
NGX Pushes Ahead With Retail Participation Drive
The Nigerian Exchange Limited has announced that it will be holding its fourth retail investor workshop in 2021 in line…
China’s JD.com Smashes Through Its Singles Day Record With $48.7 Billion In Sales And Counting
Chinese e-commerce giant JD.com has racked up 311.4 billion yuan ($48.6 billion) in sales across its platforms as of 14:09…
Indonesia’s Tech Giant GoTo Group Raises $1.3 Billion Ahead Of IPO Plans
Indonesia’s GoTo Group has secured $1.3 billion from investors in the first close of an ongoing funding round ahead of…
FG To Mandate Ownership Disclosure Of Oil Assets To Curb $1tr Losses
The Federal Government, through the recently established Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday, said it would become compulsory for…
Meta And Microsoft Announce Partnership To Integrate Workplace And Teams
Meta, the company formerly known as Facebook, on Wednesday announced a partnership with Microsoft that will allow customers to integrate…
Nigeria’s 5G Reserve Price Of $197.4m Among World’s Costliest
Price at par with USA, Germany, China but ahead of India, S’Africa, Egypt With the Federal Government optimistic about December…
Meta To Delete Ads Capable Of Fueling Negative Experience Across Its Platforms
Meta, the parent company that oversees Facebook, Instagram and Messenger has reinforced commitment to protecting underrepresented groups across the three platforms.…
Elon Musk Sells $5 Billion In Tesla Shares After Twitter Poll
Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after…
NNPC Plans To Rebuild Badagry Expressway Under Tax Credit Scheme
Nigerian National Petroleum Corporation (NNPC) has resolved to rebuild the Badagry Expressway under the Federal Government’s Tax Credit Scheme. The…
Construction Giant Ronchess PLC Gets Listed In The Nigerian Stock Exchange
The Nigerian Exchange (formerly known as the Nigerian Stock Exchange), has approved the listing of Ronchess Global Resources Plc on…
Nigeria Holds 29% Africa’s Total Oil Reserve – OPEC
The Organization of Petroleum Exporting Countries (OPEC) has said Africa’s proven oil reserves reached 126 billion barrels in 2019, with…
Emirates’ Loss Narrows To $1.6bn As Travel Restrictions Ease
Emirates Group has reported that its net loss for the first half of the 2021/2022 financial year fell to $1.6bn…
150,000 Farmers To Benefit As CBN flags Off Wheat Production Programme
The Central Bank of Nigeria (CBN) has flagged off the Nigerian Brown Revolution, an intervention programme to boost wheat production…
FEC Approves 2021-2025 National Development Plan, Projects N348.7tn Investments
The Federal Executive Council presided over by Vice President Yemi Osinbajo on Wednesday approved the 2021-2025 National Development Plan, which…
World Bank Demands Debt Transparency, Says Nigeria, Others Need $429bn
The World Bank has demanded debt transparency as a crucial step in countries’ development process, while it estimates that external…
Emefiele Woos Foreign Investors In France
The Governor, Central Bank of Nigeria, Godwin Emefiele, has invited foreign investors to consider Nigeria as their choice investment destination,…
‘You’ve Been Inconsistent’ — BudgIT Asks NBS To Publish Data On FAAC Disbursement
BudgIT Foundation, a civic-tech organisation, has called on the National Bureau of Statistics (NBS) to publish data on FAAC allocations…
Didi Prepares To Relaunch Apps In China, Anticipates Probe Will End Soon
Didi Global is preparing to relaunch its ride-hailing and other apps in China by the end of the year in…
Aviation Fuel Price Rises By 70%, International Airlines May Raise Fares
The International Air Transport Association has said the price of jet fuel has continued to increase in recent weeks, with…
Naira Gains 3.6% To Trade N540/$1 At Parallel Market
The Nigerian naira has appreciated by 3.6% to N540/$1 at the parallel market — almost four months after the Central…
Senate Approves Buhari’s $16 Billion, €1 Billion Loan Requests
The upper legislative chamber also approved grant components of $125 million. The president had requested the facilities in an addendum…
Rolls Royce Launches New Brand Amid Market Enthusiasm
Rolls-Royce Motor Cars Lagos has announced the debut of the latest brand under its Black Badge model, Ghost, amid enthusiasm…
Billionaire Aliko Dangote’s Net Worth Rises To $19.2bn From $17.8bn In August
Africa’s richest man, Aliko Dangote, has significantly moved up in the Bloomberg Billionaires Index as his fortune increased to $19.2…