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 a ton by September, driven by surging supplies in Indonesia.…
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 entities under the companies are still loss making sub-subsidiaries. Going…
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 supply petrol to Nigeria at a fee payable by the…
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. Deadly wildfires in France, Portugal, Spain, and Greece have forced…
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 daily operations. In a statement on Monday, the airline…
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 to sell off its remaining stock. Sales were suspended by…
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 the continent printing record high inflation rate in 2022. The…
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 country; following what we believe to be a subtle agreement…
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 again recorded an upward tick; moving from 19.50% recorded in…
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 turbulent global markets and investor caution which reduced its assets…
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 natural gas shipment. This move by japan is aimed at…
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 million) for offering services in the Netherlands without being registered…
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 agreement to support the acquisition; installation and deployment of an…
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. Purchased on OpenSea as an NFT priced at 2500 ETH,…
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 and other major cryptocurrencies to temper from their rise; as…
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 of Nigeria (FGN) bond auction for the month of July.…
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 company gaining about N3.571 trillion at the close of trading…
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 amid a worsening cost of living crisis, industry data showed…
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 advertising and data protection violations. The group said Tesla made…
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 U.S. Bankruptcy Judge Martin Glenn to spend $3.7 million in…
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 personal phones. Last year, Reuters reported that the U.S. Securities…
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 rising interest rates; and extreme market volatility caused by the…
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 its market power in mobile devices to thwart competition for…
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 of the economy. S&P 500 futures rose 0.4% and futures…
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 for the first half of the year. The earnings report…
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 media watchdog Roskomnadzor said that the video-sharing platform YouTube…
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 came after European commission president Ursula von der Leyen visited…
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 came after an August 2021 warning from De Nederlandsche Bank…
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. This was as a result of an update relayed by…
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 the Monetary Policy Committee will face tough choices in the…