CBN, ICT As Economic Stimulant
Lagos — The information and communications technology (ICT) sector has in recent times been a major player in solving societal…
Year: 2021
CBN To Sanction Banks, FX Dealers Rejecting Old Dollar Bills
Deposit Money Banks (DMBs) and other authorised foreign exchange (forex) dealers rejecting old/lower denominations of US Dollar bills will henceforth…
Shippers Council Targets 80% Automation By June
The Nigerian Shippers’ Council (NSC) says it hopes to achieve 80 per cent automation of the entire seaport processes on…
Pound-Dollar To Extend Gains To 1.45 By June 2021 Day NAB
The British Pound to Dollar (GBP/USD) is forecast at 1.4500 for June 2021 and 1.50 for December. Foreign exchange analysts…
Higher Oil Prices Push Up External Reserves By $409m
The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the…
Dollar Struggles To Recover After Slump To 7-Week Trough Amid Lower U.S. Yields
The dollar languished on Wednesday, hovering just above a seven-week low with subdued U.S. bond yields reducing the currency’s yield…
Sterling Holds Ground As UK Inflation Ticks Higher
“CPI isn’t a story that will be driving sterling in the short term”, said Jeremy Stretch, a foreign exchange strategist…
FG Admits Revenues Crashing, Says Nigeria Faces Hard Times
The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Monday admitted that Nigeria’s economy was facing a difficult…
NEWS WIRE Investing 9h Ago China’s Yuan Adds Renewed Momentum To Global Reflation Trade
China’s yuan is overvalued, and that could end up stoking global inflation. The yuan ranks as the most overvalued among…
HSBC: Buy The Euro, Sell The Pound As UK Good Vaccine News Priced In Say HSBC
Euro-to Pound (EUR/GBP) losses during the first quarter of 2021 were driven by the UK vaccine programme, but HSBC now…
ABCON Seeks Measures To Boost Diaspora Remittances
The Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to…
Inflation Rate: The 18.17% Rise Of A Monster
Nigeria’s March 2021 inflation rate of 18.17% has riled analysts as the economy gets caught in deep undercurrents. The country’s…
ABCON Calls On CBN To Check Cryptocurrencies’ Impact On Diaspora Remittances
The Association of Bureaux De Change Operators of Nigeria (ABCON) has charged the Central Bank of Nigeria (CBN) to introduce…
Local Currency Sells For N410.33/$ At I&E
The exchange rate of the Naira against the United States Dollar at the Investors and Exporters (I&E) window of the…
CANADA FX DEBT-Canadian Dollar Notches 1-Month High Ahead Of Federal Budget
The Canadian dollar strengthened to a one-month high against its U.S. counterpart on Monday, as the greenback broadly declined and…
Dollar Slide Extends
Overview: The selling pressure on the greenback, evident last week, despite a series of stronger than expected economic reports, carries over…
Oil & Gas: Nigeria To Account For 23% Of Projects In Africa By 2025 – Report
Nigeria may account for 23 percent of all oil and gas projects in Africa within the next four years, a…
Nigeria’s Commercial Hub Sets Up Anti-Graft Body To Investigate Officials
Lagos state, which is home to Nigeria’s commercial hub, set up an anti-corruption agency to investigate government officials and curb…
Currency In Circulation Hit N2.8tn In March – CBN
Currency in circulation rose by N29bn to N2.81tn as of the end of March from N2.78tn as of the end…
Bolt Reacts As Drivers, Uber Operators Begin Strike
Bolt and Uber drivers began a strike on Monday to demand an upward review of the fares charged by the…
China Leaves Lending Benchmark Rate Steady For 12th Straight Month
China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April…
Bank Of England Joins Global Peers Exploring A Digital Currency
Britain’s Treasury and the Bank of England are weighing the potential creation of a central bank digital currency, joining…
UK Banks Launch 95% Mortgages: Everything You Need To Know
A new government-backed mortgage scheme has launched in the UK which will help first-time buyers, or current homeowners, secure a…
Sterling Bank Launches Mobile POS Solution
Sterling Bank Plc has launched a product called ‘OnePay for Business’, a mobile app that empowers merchants to use their…
Autoshow Chip Shortage Casts Shadow On China’s Auto Industry Recovery
Auto industry executives are rattled by a global shortage of semiconductors which is hitting production in China, after hoping the…
Coca-Cola Revenue Rises Past Estimates On Easing Pandemic Curbs
Coca-Cola Co trounced Wall Street estimates for quarterly revenue on Monday, fueled by strong demand for its beverages from the…
Arizona Mining Fight Pits Economy, EVs Against Conservation, Culture
Early last year, Darrin Lewis paid $800,000 for a hardware store in a tiny Arizona town where mining giant Rio…
Harley-Davidson Boosts Sales Forecast As Quarterly Shipments Rise
U.S. motorcycle maker Harley-Davidson on Monday reported a 10% rise in first-quarter revenue and raised it full-year forecast for sales growth,…
European Shares Hit Highs As Markets Upbeat About Recovery Prospects
World shares traded near record highs on Monday, as markets were generally upbeat about the prospects for a global economic…
U.S. Banks Deploy AI To Monitor Customers, Workers Amid Tech Backlash
Several U.S. banks have started deploying camera software that can analyze customer preferences, monitor workers and spot people sleeping near…