Real Time Financial News Website
Prince Adewole Adebayo, has said 80% of the country’s crude oil were being stolen with the connivance; and quietude of state governors in Niger Delta, and the party was out…
The Academic Staff Union of Universities says the federal government should have used the recovered $23 million Abacha loot to meet its demands. Emmanuel Osodeke, president of ASUU, spoke on…
Fidelity Bank Plc has entered a binding agreement to acquire a 100 percent equity stake in Union Bank UK Plc. The bank said this in a corporate filing on the…
The Nord Stream 1 pipeline that transports Russian gas to Germany will undergo maintenance from Aug. 31-Sept. 2, prompting concerns about supply to Europe if the outage is extended. Russia…
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off…
Russia halted gas supplies via Europe’s key supply route, intensifying an economic battle between Moscow and Brussels. Raising the prospects of recession and energy rationing in some of the region’s…
The Nigerian Civil Aviation Authority (NCAA) has threatened to sanction domestic airlines for over N19 billion debt on ticket sales. The authority said this in Abuja at a meeting with…
The U.S. consumer is coming to the rescue of the global economy. Back in 2009, companies turned to China to prop up a shaken world. Now, with decades-high inflation in…
Amazon (AMZN.O) and Alphabet (GOOGL. O) unit Google criticised Microsoft’s (MSFT. O) cloud computing changes, saying they limit competition and discourage customers from switching to rival cloud service providers. The…
The Nigeria National Petroleum Corporation Limited will have the first right of refusal to supply the Dangote refinery with about 300,000 barrels of crude oil per day for the next…
Economic experts have raised concerns about the prostrate nature of the economy; exemplified by the contraction in the country’s Gross Domestic Product (GDP). A recent data by the National Bureau…
Oil prices recovered slightly as data pointed to firm U.S. Fuel demand, providing respite after a 5% drop a day earlier on fears that demand will suffer from increased China…
On Tuesday, August 30, 2022, the Naira reversed its almost miraculous comeback to trade over the N700/$1 mark once again. This is according to information gathered from several black market…
Management of Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar into the country by 40%. Thus, paving the way for the employment of over 30,000…
OpenSea, the world’s largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in its daily trading volumes. Data from DappRadar revealed that the marketplace processed nearly $5 million worth…
Reliance Industries Ltd (RELI.NS), operator of the world’s biggest refining complex, will invest 750 billion rupees ($9.38 billion); over 5 years to expand its oil to chemical business, its chairman…
A.P. Moller-Maersk (MAERSKb. CO) said it has agreed to sell its 30.75% stake in Russian port operator Global Ports Investments (GLPRq. L) to Russia’s largest container operator Delo Group, which…
The U.S. government said it would provide about $11 million to support the packaging of Bavarian Nordic’s (BAVA. CO) Jynneos monkeypox vaccine at a U.S.-Based manufacturer’s facility. The Denmark-based company,…
Officials installed by Russia in Ukraine said that a Ukrainian missile strike punched a hole in the roof of a fuel depot at the Zaporizhzhia nuclear power plant, the RIA…
China’s three biggest airlines posted a combined 28.4 billion yuan ($4.12 billion) second-quarter loss. Wider than in the first quarter, due to major travel disruptions including a strict COVID-related lockdown…
The regulator of Abu Dhabi’s free zone financial centre said it had fined the local subsidiary of fintech firm Wise $360,000; for breaching anti-money laundering (AML) requirements. Abu Dhabi Global…
Twenty-eight sectors of the economy declined in the second quarter of 2022 as real Gross Domestic Product shrunk by N63.49bn quarter-on-quarter. While real GDP grew by 3.54 per cent year-on-year…
The latest GDP report for the second quarter of 2022 released by the National Bureau of Statistics (NBS); showed that Nigeria’s electricity sector contracted by 11.48% year-on-year in real terms.…
Nikola Corp (NKLA. O) said it may sell shares to raise up to $400 million, as the electric truck maker looks to ramp up production amid rising costs. The company,…
The Central Bank of Nigeria (CBN) says the country has recorded $2.4 billion in diaspora remittances through its ‘Naira 4 Dollar Scheme’ in 2022. In March 2021, the apex bank…
Every section of Nigerian society is complicit in the theft of millions of barrels, the head of state oil company NNPC Ltd; adding that make-shift pipelines and stolen fuel had…
HSBC (HSBA. L) has hired Justin Wu as its first co-head of climate change Asia Pacific to lead the development and implementation of the bank’s sustainability strategy in the region,…
Monday, 29th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1; at the Investors and Exporters window, where forex is traded officially. Naira remained…
Investors of Seplat Energy Plc recorded a loss of about N70.56 billion from trading in the shares of the company. Following sustained sell pressure witnessed on shares of some blue-chip…
Germany is making better progress than expected in filling its gas storage facilities; but it’s not enough to get the country through winter, said the network regulator head on Monday.…