We’ll Toll Roads To Repay Infrastructure Debts – Emefiele
The Governor of the Central Bank of Nigeria, Godwin Emefiele has said most of the roads constructed in the country will be tolled to repay the loans used to fund…
Unvaccinated Google Employees May Lose Their Jobs In 2022
Employees at Google have been threatened with pay loss – and even termination of employment – if they fail to comply with the company’s Covid-19 vaccination policy, Leaders circulated a…
Mortgage Refinances Fizzle As Interest Rates Resume Their Climb
A brief surge in mortgage refinance demand fizzled fast, after interest rates resumed their climb along with the stock market. The initial scare from the Covid omicron variant caused rates…
Bank of England rejects major overhaul of cash system
The Bank of England has told top banks to clarify by March, on how they will keep enough cash in circulation as COVID-19 accelerates its decline, saying it won’t create…
U.S. Congress approves boosting debt limit to $31.4 trillion
The U.S. Congress on Tuesday approved raising the federal government’s debt limit by $2.5 trillion, to about $31.4 trillion, sending the bill to President Joe Biden to sign and avert…
Nigeria’s debt rises by N2.54tn in three months, hits N38tn, says DMO
On Tuesday the Debt Management Office revealed that Nigeria’s public debt was N38.005tn as of the end of the third quarter of 2021. In a press statement titled, ‘DMO publishes…
Turkish lira slides again after rollercoaster ride to record low
On Tuesday Turkey’s lira slid as much as 4% in further volatile trade after tumbling to all-time lows a day earlier on concerns over President Tayyip Erdogan’s risky new economic…
Eurobond $2Bln Issuance On Halt Over Omicron Concerns
Due to the outbreak of the Omicron COVID-19 variant the federal government has suspended plans to sell additional N2.18 billion Eurobonds. An Eurobond is a debt instrument denominated in a…
FT Names Elon Musk As ‘Person Of The Year’
Tesla Inc Chief Executive Officer Elon Musk has been named the Financial Times newspaper’s “Person of the Year”. The FT said it picked Musk for triggering a historic shift in…
YouTube Says Services Fixed After Disruption Affects Thousands
Alphabet YouTube said on Tuesday it has fixed an issue that caused thousands of users to lose access to its platform or face slow services. Downdetector, which showed there were…
Reps probe Uber, Bolt, others over tax returns
Car hire service providers like Uber, Bolt, in-drive, and other technology-based transport companies in Nigeria has been resolved to be investigated by the House of Representatives. An ad hoc committee…
Australian Biopharmaceutical Giant “CSL Ltd” To Buy Swiss Drugmaker ”Vifor Pharma” For $11.7 Billion
Australian biopharmaceutical giant CSL Ltd (CSL.AX) said it would buy Swiss drugmaker Vifor Pharma AG (VIFN.S) for $11.7 billion, as it aims to diversify beyond its blood plasma collection business…
Zenith Bank Cuts Cost Of Funds To Defend Profit In Q3
Zenith Bank Plc defied a generally rising cost of funds in the financial markets and cut interest expenses by close to N20 billion at the end of the third quarter…
Tega Industries Jumps 66% On Debut After Bumper IPO
Kolkata-based Tega Industries Ltd, which offers products and services to the mining industry, made a stellar debut on the stock exchanges on Monday with its shares listing at a 66%…
Stock Futures Tick Higher Ahead Of Key Inflation Data, Fed Meeting
U.S. stock index futures rose during early morning trading Tuesday after the major averages started the week in the red as Covid omicron fears hit sentiment. Futures contracts tied to…
Elon Musk Sells More Tesla Shares
SpaceX and Tesla CEO Elon Musk sold another 934,091 shares of his electric car company, which are worth around $906.49 million, according to a pair of financial filings with the…
Chinese Social Networking Giant “Weibo” Shares Tumbled More Than 9%
Hong Kong-listed shares of Chinese social networking giant Weibo tumbled more than 9% on Tuesday, as regulators fined its operator three million yuan ($471,151). The Cyberspace Administration of China said…
Facebook Owner Is Behind $60 Mln Deal For Meta Name Rights
Meta Platforms Inc, the owner of social media network Facebook, is behind a $60 million deal to acquire the trademark assets of U.S. regional bank Meta Financial Group, spokespeople for…
FG To Introduce New Taxes, Tarrifs And Levies
The Federal Government has indicated the possibility of introducing new taxes, tariffs and levies as part of measures to shore up its revenue. This is just as the Federal Ministry…
Zoom To Charge Nigerians 7.5 Percent VAT
Zoom Video Communications, Inc. (Zoom) says it will begin to charge 7.5 percent value-added tax (VAT) on customers in Nigeria from January 1, 2022. Zoom said this in a statement…
MTN, Mafab Win 5G Licence, To Pay N227bn To FG
In a dramatic fashion, a telecom under dog, MAFAB Communications, emerged from nowhere, Monday, to become one of the winners of 3.5GHz Spectrum licenses. The licenses are necessary to deploy…
Nigeria Regains Position As Crude Oul Output Increase
Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of…
MTN, Airtel, Mafab Enter 5th Round As 5G Auction
The current price per lot of the 100MHz band of the 3.5GHz spectrum at the ongoing auction being organised by the Nigerian Communications Commission (NCC) has risen to $215,782,901.38 as…
NCC Completes Mock Session For Spectrum Auction Of 5G
The Nigerian Communications Commission (NCC) has successfully carried out a mock session for the 3.5 gigahertz (GHz) spectrum auction for the deployment of the Fifth Generation (5G) network in the…
Banks’ Credit To Economy Hits N23.5tn, Says CBN
Banks’ gross credit to the Nigerian economy rose to N23.5tn in November this year, according to figures obtained from the Central Bank of Nigeria. The CBN said in a new…
Steelpack Deal Makes Two For Vuna Partners’ Maiden Fund
Vuna Partners, a sector-agnostic mid-market private equity firm which recently hit another milestone for its maiden fund, has sealed its second transaction with the acquisition of SA Steelpack Solutions. “The…
Impose Special Taxes On Alcohol, Cigarette – World Bank Tells FG
The World Bank has called on the Federal Government to impose special taxes on alcohol, cigarettes and sugar-sweetened beverages to improve primary healthcare. The World Bank Country Director for Nigeria,…
McDonalds To Hire More People And Open New Restaurants By 2025
U.S fast food chain McDonalds will hire 12,000 people and open 200 new restaurants in Italy by 2025, Dario Baroni, chief executive of the group in the country, was quoted…
Experts Count Coffee Trees In Brazil As Prices Hit 10-Year Highs
Coffee experts working for commodity trading houses are taking to the narrow, winding roads in Brazil’s Minas Gerais state as they tour the coffee belt checking 2022 crop prospects just…
UK Antitrust Regulator Looks Into Microsoft’s $16 Bln Nuance Deal
Britain's antitrust regulator said on Monday it will look into Microsoft Corp's $16 billion purchase of artificial intelligence and speech technology firm Nuance Communications. Microsoft announced it would buy Nuance…