Investment Bank United Capital Reports 41% Profit Surge As Half-Year Revenue Hits N9.1 billion
Revenue for United Capital rose to N9.1 billion after a jump in earnings from fees & commission and other income…
Day: July 18, 2022
Russian Court Fines Google $360 Million Over Failure To Remove Ukraine War Content
A Moscow court has fined Google $360 Million for failing to remove content concerning Russia’s military intervention in Ukraine. Russia’s state…
EU Gets Into Deal With Azerbaijan To Double Gas Exports By 2027
The European Commission signed a deal with Azerbaijan on Monday to double imports of natural gas by 2027. The announcement…
Binance Fined $3.4 Million In The Netherlands For Lack Of Registration
The Dutch central bank fined Binance for offering services without proper registration, underscoring the company’s friction with regulators. The penalty…
Flutterwave Shuts Down Virtual Dollar Card Service
Fintech Flutterwave has announced plans to shut down its virtual dollar card service, known as ‘Bartercard’ effective from July 17th.…
More Worries Over Rising Inflation, Headwinds As MPC Meets Today
In the face of economic and financial challenges, members of the rate-fixing arm of the Central Bank of Nigeria and…
Implementation Of The National Development Plan Will Drive Economic Growth – Dayo Obisan
Focusing on the step-by-step implementation of Nigeria’s national development is one of the keys to achieving economic growth in Nigeria.…
High Buying Pressure On Ethereum Hits Above $1,300 On Upcoming
The expectation of the Ethereum network’s forthcoming switch to proof-of-stake is the reason for the altcoin’s greater price resiliency. The…
Airtel Pushes SWOOTs Capitalization Up By N316.86 Billion
The combined market capitalization of stocks worth over one trillion (SWOOTs); appreciated by 1.58% to close at N20.74 trillion from…
UN: World Population To Reach 8 Billion By November
The United Nations (UN) has projected that the global population is expected to reach 8 billion on November 15 even…
Two Nigerian Fintech Executives Convicted For Breaching US Anti-Money Laundering Rules
Two fintech executives and a manager at a US-based money transfer company have been sentenced to a combined 8 years…
Why Currency Trading Involves Major Risks
The largest trading market in the financial sector is unquestionably currency trading. It has a daily traded volume of over $6…
FUGAZ Investors Gain N17 Billion Combined During The Week
The market capitalization of the top five banks, referred to as the Tier-1 banks or FUGAZ; appreciated by 0.77% to…
Unilever Reports N1.906 Billion PAT In HY 2022 Amidst Cost Pressure
Unilever Nigeria Plc has released its unaudited financial statement for the half year ended 30 June 2022. According to the…
Nigeria Is Taxing Poverty – Taiwo Oyedele
Taiwo Oyedele, a Fiscal Policy Partner and Africa Tax Leader at PwC, chided the government for taxing poverty in Nigeria.…
Ukraine Central Bank Has Sold Over $12 Billion Of Its gold Reserves During The War, Its Deputy Head Says
Ukraine’s central bank has sold $12.4 billion of gold reserves since the beginning of Russia’s invasion on Feb. 24, the…
Dollar Prowls Just Below Highs As Euro Gasps For Gas
The dollar began the week nudging down from multi-year highs; with hotter-than-forecast inflation reading in New Zealand lending modest support…
Generali Appoints Veteran Banker To Fill Board Vacancy
Italian insurer Assicurazioni Generali (GASI.MI) has named veteran banker Stefano Marsaglia to fill a vacancy on its board left by…
Oil Prices Jump As Soft Dollar, Tight Supplies Support
Oil prices extended gains, propped up by a weaker dollar and tight supplies that offset concerns about recession; and the…
India’s HDFC Bank’s April-June Profit Rises 19% On Year
India’s largest private lender, HDFC Bank Ltd said its net profit for the three months to June rose 19% from…
BlackRock Misses Profit Estimates, Pulls Back Hiring After Market Turbulence
BlackRock Inc said it is tightening its belt and putting off some hiring amid an economic environment; that has spooked…
Citigroup Shares Surge On Profit Beat, Core Business Strength
Citigroup Inc shares surged over 10% on Friday after the third-largest U.S. bank posted a smaller-than-expected 27%; drop in quarterly…
Wells Fargo Profit Slumps On Higher Loan Loss Reserves, Mortgage Weakness
Wells Fargo & Co said on Friday its second-quarter profit nearly halved as the bank set aside more funds to…
Russia To Block Sale Of Foreign Banks’ Russian Subsidiaries- Ifax Cites Finance Ministry
Russia will block the sale of foreign banks’ Russian subsidiaries while Russian banks abroad cannot function normally; the Interfax news…
China Steps Up Loan-Support Efforts To Developers Amid Mortgage Boycott
Chinese regulators stepped up efforts to encourage lenders to extend loans to qualified real estate projects; as the beleaguered property…
New Zealand’s Inflation Hits 3-Decade High, Raising Bets On Sharper Rate Hikes
New Zealand’s consumer prices rose at their fastest pace in three decades; beating forecasts and raising the prospect of an…
Deliveroo Slashes Revenue Outlook On Deteriorating UK Economy
British food delivery company Deliveroo slashed its full-year revenue guidance, blaming a worsening economic outlook as pressures on consumers mount.…
Finland’s Nordea Posts Profit Above Expectations
Growth in earned loan interests aided Finland’s Nordea to a rise in second-quarter; operating earnings despite customer activity slowing down…