Nigeria To Pursue $3.5 Billion Civil Claim Against Eni And Shell
Nigeria will continue its $3.5 billion civil claim against Shell Plc and Eni SpA after Italian prosecutors dropped criminal proceedings…
Day: July 19, 2022
IMF Executive Board Approves a 40-month, US$1,046.4 million ECF Arrangement for Tanzania
The International Monetary Fund’s board approved a $1.05 billion extended credit facility for Tanzania and plans to disburse $151.7 million immediately.…
Power Supply To Drop Again, TCN Alerts Nigerians
Power supply will drop by 50 megawatts, the Transmission Company of Nigeria; said the drop would be because of planned…
Firms Raise N246b From Corporate Bonds In H1
The dormant primary equities segment of the Nigerian capital market has prompted listed companies; to rely on the bond market…
Palm Oil Set To Plunge 20% By September, Top Analyst Predict
The world’s most consumed cooking oil Palm oil may extend its slide, tumbling more than 20% to 3,000 ringgit $673…
Stakeholders Express Cautious Optimism As NNPC Transits
Stakeholders have expressed cautious optimism as the Nigerian National Petroleum Company Limited (NNPC) transits today; insisting that most of the…
FG To Pay Fee For NNPCL Petrol Import As Buhari Unveils Firm Today
President Muhammadu Buhari will unveil the new Nigerian National Petroleum Company Limited (NNPCL); today just as the company will now…
Heatwave: Ferocious European heat heads north
In France and the UK, extreme heat warnings were issued while northern Spain recorded temperatures of 43C (109F) on Monday.…
Aero Contractors To Shut Down Operations From Tomorrow
Aero Contractors has said it is shutting down its operations; due to the impact of Nigeria’s harsh business environment on its…
H&M To Sell Off Stock Before Leaving Russia
The world’s second-biggest clothing retailer H&M has said it is leaving Russia. But temporarily, its shops will be reopened there…
African countries and their inflation rates in 2022.
The world is currently battling with high inflation rate and Africa is not exempted from this experience; with countries on…
Marketers Finally Hike Petrol Price To N170-N190/Litre
Premium Motor Spirit popularly known as petrol will now be sold between N170/litre and N190/litre in filling stations across the…
Traders, Buyers Groan As Food Inflation Hits 20.60%
Traders and buyers in Lagos markets have expressed dismay over soaring prices of food items as Nigeria’s food inflation figures…
Asset Manager GAM Warns On Profit Citing Market Turbulence.
GAM Holding (GAMH.S) expects to post a loss for the first half of 2022, the Swiss asset manager said; citing…
Japan Buys Most Expensive Gas Shipment as Energy Crunch Bites
Japan is expected to be the world’s top LNG importer this year, as it has purchased the most expensive ever…
Dutch Central Bank Fines Binance 3.3 Million Euros.
The Dutch central bank (DNB) said it had fined Binance, one of the biggest cryptocurrency exchanges; 3.3 million euros ($3.35…
Nigeria’s Securities And Exchange Commission, AfDB Sign $460K Capital Market Surveillance Deal
The African Development Bank (AfDB) Group and the Securities and Exchange Commission (SEC); have announced the signing of a $460,000…
The Most Expensive Champagne, Chateau Avenue Foch 2017, Just Sold For $2.5 Million
A limited edition 1 of 1 champagne sold by NFT ‘Magnum 2.5’ has just become the world’s most expensive champagne.…
Mini Revival In The Crypto Market Keeps Ethereum Above $1.5K.
Growing investors’ optimism about the global economy, central bank monetary tightening. And the Ethereum Merge later this summer caused Bitcoin…
DMO Raises N124 Billion In July FGN Bond Auction As Investors Oversubscribe Long-Term Instrument.
The Debt Management Office (DMO) has announced that it raised the total sum of N123.84 billion; in its Federal Government…
Airtel Shareholders Earn N3.6 Trillion Year-To-Date On Positive Sentiment
Positive sentiment witnessed on shares of Airtel Africa Plc since the beginning of the year;has resulted in investors of the…
Average Annual UK Food Bill Set To Rise 454 Pounds As Inflation Soars.
UK grocery inflation hit 9.9% in the four weeks to July 10, adding 454 pounds ($543.7) to Britons’ annual bills…
German Consumer Group Files Lawsuit Against Tesla Over Privacy Concerns, CO2 Ads.
Germany’s largest consumer protection group vzbv has filed a lawsuit against Tesla (TSLA.O) in a Berlin court; over alleged misleading…
Crypto Lender Celsius Defends Bitcoin Mining Plans As Bankruptcy Kicks Off.
Cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts. New Jersey-based Celsius received approval from…
Bank Of America Puts Aside $200 Million For Probe Into Bankers’ Use Of Personal Devices.
Bank of America (BAC.N) has set aside around $200 million for a regulatory matter connected to the unauthorized use of…
U.S. Banks Take Hit On Leveraged Loans As Deals Slump, Rates Rise
U.S. banks have started taking a hit on their leveraged loans’ exposure as the outlook for dealmaking turns sour amid…
Lawsuit Accuses Apple Of Antitrust Violations Over Apple Pay.
Apple Inc (AAPL.O) was sued in a proposed class action by payment card issuers accusing the iPhone maker; of abusing…
US Stock Futures Gain As Earnings Season Moves Past Banks
U.S. stock futures edged higher as investors looked past quarterly results from financial companies to earnings reports from other sectors…