Forex Flow To Nigeria Rise By $10.75bn.
Nigeria has recorded $10.75bn foreign exchange inflow in two months, figures obtained from the Central Bank of Nigeria have revealed.…
Month: July 2022
Zambia Plans To Cancel Over $2 Billion Projects To Rein In Debt.
Zambia is cancelling more than $2 billion worth of projects financed by commercial loans. To reduce the risk of accumulating…
Japan’s Machinery Orders Fall For First Time In 3 Months.
Japan’s core machinery orders slipped for the first time in three months in May. Hurting hopes that a pickup in…
Danske Cuts Profit Outlook Due To Challenging Financial Market Conditions.
Danske Bank (DANSKE.CO) reduced its full-year net profit outlook, hurt by rapidly rising interest rates and unfavorable financial market conditions.…
Asian Firms May Struggle To Refinance Dollar Debt, Ratio Suggests
Asian companies are likely to find it harder to refinance dollar-denominated debt. The decline in a key metric suggests; with…
Chinese Property Developer Ronshine Misses Interest Payments On Two Bonds.
Chinese property developer Ronshine China Holdings Ltd (3301.HK) has not made interest payments on its June 2023 and December 2023…
Shell Invests $38 Million In Carbon Credit Projects In Brazil.
Shell (SHEL.L) said it has invested 200 million reais ($38.07 million) into a Brazilian preservation-focused company. Carbon credit developer Carbonext…
Oil Companies Oppose FG- Nigeria.
Oil and gas companies have committed to gas flare reduction in Nigeria. Some of them opposed the enforcement of penalties…
China Industry Body Cuts 2022 Auto Sales Growth Forecast To 3%
China’s automobile industry association downgraded its 27022 sales forecast; as anti-pandemic measures weighed on the economy and its car market,…
Bank Of Korea To Hike Rates By Historic 50 Bps
South Korea’s central bank will deliver its first-ever 50 basis point rate rise to 2.25%; turning up the heat on…
Twitter Hires Law Firm Wachtell To Sue Musk After Pulling Out Of $44 Billion Deal
Twitter Inc has hired U.S. law firm Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk;…
Brazil’s Itau To Buy 35% Stake In Broker Avenue For $92 Mln, Eyes Control Later
Brazil’s largest private lender Itau Unibanco Holding SA (ITUB4.SA) has agreed to acquire control of Avenue; a brokerage that provides…
Essity Buys 80% Of Canada’s Knix Wear For $313 Million
Sweden’s Essity on Friday said it had agreed to buy 80% of Canadian company Knix Wear. A maker of leakproof…
Nigeria’s Capital Importation Loses $6.92bn, As Inflows Dip In Four Consecutive Quarters
For the period of Q1 2022, NBS disclosed that capital importation, which consists of financial and equipment capital importation, was $1.57 billion,…
CBN Releases Guidelines For Digital Financial Service Awareness
The Central Bank of Nigeria has issued an exposure draft for the digital financial services awareness guidelines to address gaps…
Euro At The Verge Of Breaching Parity, Stocks Slide Again
The euro has been particularly vulnerable given the impact of an ongoing spike in natural gas prices on the regional…
Infrastructure: FG Eyes 70% Capital Stock, $150Bn Annually
The Federal Government is targeting 70 per cent capital stock and $150bn yearly to close Nigeria’s yawning infrastructure gap. But…
External Reserves Gain $679.12M In One Month
NIGERIA’S external reserves returned to a growth path after gaining $679.12m. However, Figures obtained from the Central Bank of Nigeria…
NatWest Hands Staff Pay Rise To Ease Impact Of Soaring Inflation
British bank NatWest has joined rivals in handing out an unscheduled pay boost; to staff to help shield them from…
Half Of Britons Buy Less Food As Prices Surge
Almost half of British people have cut back on food purchases as prices surge; while others are having to spend…
Nigerian Banks Loan N3 Trillion To The Private Sector In 6 Months
Banks’ credit to the private sector hit its highest level in May 2022, reaching N38.19 trillion from N35.19 trillion recorded…
DeFi Ecosystem Lost $156 Billion In Total Value Locked In Q2 2022
Currently, the cryptocurrency space has lost a great deal; especially with Bitcoin posting its worst quarterly performance in 11 years.…
Airtel Reduces Debt To Parent Company By $450 Million
Airtel Africa announced that it has redeemed up to $450 million out of the $1 billion loan it owes to…
Naira Falls At I&E Window Despite Massive Improvement In Dollar Supply
The exchange rate between the naira and the US dollar closed at N428.16/$1: which at the Investors and Exporters (I&E)…
Ardova Plc Blames Subsidiaries For N3.8 Billion Full Year Loss
Oil and gas retail giant, Ardova Plc reported a loss of N3.8 billion for the year ended December 2021. This…
Debt Management Office Lists $1.25 Billion Eurobond On NGX, FMDQ
The Debt Management Office (DMO) has announced plans to list the 8.375%, $1.25 billion; March 2029 Eurobond on the Nigerian…
Neimeth To Commence N3.67Billion Right Issue In August 2022
Neimeth International Pharmaceuticals Plc has concluded arrangements to commence its N3.67 billion right issue; to the existing shareholders of the…
Stock Market Closes Flat, Valuation Up By N12 Billion
The NGX closed on a flat note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 1…
Ghanaian Cedi Drops By A Whopping 30% Against The US Dollar In 6 Months
The Ghanaian cedi has lost 30.56% against the US dollar in 6months. The drop in the Cedi comes despite Ghana’s…
China Tightens Rules On $1.3 Trln Credit Card Business
China unveiled tighter rules to better regulate its $1.3 trillion credit card industry; further urging lenders to adopt a “prudent”…