Elon Musk: Aims To Have Self-Driving Teslas Ready By Year-End In The U.S.
Tesla (TSLA.O) founder Elon Musk said he aimed to get self-driving Teslas ready by year-end; and hopes they could be in wide release in the United States and possibly in…
Gas Prices To Fall Soon As Germany Hits Storage Targets.
German Economy Minister Robert Habeck expects gas prices to fall soon as Germany is making progress on its storage targets; and won’t have to pay the high asking prices currently…
Bitcoin Dips Below $20,000.
Bitcoin dipped below $20,000, continuing a drop that has taken it down nearly 60% from its year high. Bitcoin , the world’s biggest and best-known cryptocurrency, was last down 1.5%…
Ericsson To Wind Down Business Activities In Russia
Ericsson (ERICb. ST) said it will gradually wind down business activities in Russia; as the Swedish telecoms equipment maker completes its obligations to customers. The company, which suspended its business…
Firms Buy Sh9.5bn Safaricom Stake.
Local institutional investors have acquired shares worth Sh9.5 billion in Safaricom following the exit of domestic shareholders and foreigners; reversing the government’s objective of boosting Kenyan retail investors’ stake in…
Russia Says It Shot Down Ukrainian Drone.
Russia’s defence ministry said Russian forces shot down a Ukrainian drone; which was trying to attack the Zaporizhzhia nuclear plant, Russian news agencies reported. The defence ministry said there was…
Finnair Partners With Qatar Airways In Search Of New Routes.
Finnair (FIA1S. HE) will establish a strategic partnership with Qatar Airways; to open up new routes from Nordic capitals to the Qatari capital Doha, the Finnish national carrier said. Finnair…
Nigeria’s N20.4 trillion Imports In 2021 Not Enough To Lift Economy – Economists.
Despite the hues and cries about Nigeria being an import-dependent economy over the years, and importing goods worth over N20 trillion last year alone, economists say that Nigeria is importing…
Dollar Scarcity: Manufacturer’s Panic.
Fear of a dollar shortage has driven manufacturers to front-load their inventory requirements. Therefore, creating the illusion of economic growth in Nigeria. This was disclose in the Financial Derivatives recently…
The World Still Needs Oil And Gas – Elon Musk.
The world must continue to extract oil and gas in order to sustain civilisation, while continuing to also develop sustainable sources of energy, Tesla (TSLA. O) founder Elon Musk told…
Nigerians Drink Beer Worth N599.11 Billion In 6 Months.
Nigerians drink beer worth N599.11 billion in six months running from January t0 June 2022, according to the first quarter results of four major brewers in the country. Champion Brew…
Bitcoin Drops To Lowest Level, Crypto Market Loses $70 Billion.
As a result of Federal Reserve Chair, Jerome Powell’s comments that the U.S. central bank may continue hiking interest rate; the price of Bitcoin dropped significantly this morning to $20K.…
SWOOTs Capitalization Up By N254 Billion.
The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 1.30% to close at N19.75 trillion from N19.50 trillion the previous week, reflecting a gain of N254.39…
NFT Market Fails To Hit $1 Billion In Trades For The First Time Since June 2021.
The NFT market in the last 4 months, has been on a bearish trend as many have suggested that the sector in the cryptocurrency space has lost its appeal, due…
Trapped Fund: Respite As CBN Releases $265m To Foreign Airlines.
In a move to check a brewing crisis in the country’s aviation sector, the Central Bank of Nigeria (CBN), released the sum of $265 million to airlines operating in the…
Flight suspension: British Airways Says Its Operations Would Continue As Scheduled.
British Airways has restated its commitment to fully serve the Nigerian market. Recall that Nairametrics had earlier reportedthat the airline was at the verge of suspending flight operations in Nigeria…
British Household Energy Bills To Jump 80% To Over $4,000 A Year.
British energy bills will jump 80% to an average of 3,549 pounds ($4,188) a year from October; plunging millions of households into fuel poverty and businesses into jeopardy unless the…
Nigerias GDP Increases By 3.11% In Q1 of 2022, Says NBS.
The National Bureau of Statistics says Nigeria’s Gross Domestic Product grew by 3.54%. This growth is in the second quarter of 2022 on a year-on-year basis. The Statistician-General of the…
Bank Loan Defaults Cross Half A Trillion For The First Time.
Bank loan defaults have crossed the half a trillion shilling mark for the first time; setting up thousands of borrowers for property seizures in an economy hit with reduced cash…
Britain To Support Rebuilding Of Ukrainian Transport Network.
Britain will share technical expertise with Ukraine as part of a new package of support to help the country rebuild its infrastructure and transport network. Following Russia’s invasion earlier this…
FAAC: Nigeria FG, States, LGs Share N954bn
The Federation Account Allocation Committee, on Wednesday, said it shared N954.09n to the three tiers of government; as allocation for July, 2022. This was in a communiqué by the Director…
Bitcoin Depot To List In The U.S. Through $885mln SPAC Deal.
Fintech Bitcoin Depot plans to list in the United States by merging with blank check company GSR II Meteora Acquisition Corp in a deal valued at $885 million, the companies…
Brent Crude Trades Above $100 On Potential OPEC+ Supply Cuts.
The price of the black liquid is bullish today as a result of mounting supply tightness concerns amid disruptions to Russian exports; the potential for major producers to cut output,…
Saudi Arabia To Invest $1 Billion In Pakistan.
Saudi Arabia plans to invest $1 billion in Pakistan, Saudi state TV reported. Saudi King Salman bin Abdulaziz had given the directive for the kingdom to support the Pakistani economy,…
Why China Locked Kenya Out Of New Debt Relief Deal.
The elevation of Kenya to the middle-income status saw China lock the country out of a new list of African nations that will receive a Beijing debt relief this year;…
PetroChina H1 Profit Jumps 55% On High Oil Prices.
PetroChina (601857. SS) reported a 55% jump in profit during the first half of 2022, boosted by an increase of its oil and gas output and higher energy prices, as…
South Africa’s Inflation Rate Hits 7.8%, Highest In 13 Years .
South Africa’s annual consumer inflation reached its highest level in 13 years, increasing to 7.8% in July from 7.4% in June; which is the third consecutive month as underlying price…
British Pubs, Farms Raise Alarm Over Latest CO2 Production Halt.
Britain’s drinks and food industry raised the alarm over the availability of carbon dioxide; after soaring energy prices forced a major producer to pause its operations. CF Fertilisers UK took…
Forex Inflows Drop 17% To $6.6bn.
Aggregate foreign exchange inflows into the economy fell by 17.3 per cent to $6.58bn in April. The Central Bank of Nigeria disclosed this in its April monthly report on foreign…
China Protect Chinese Firms Following U.S. Export Control List.
China’s commerce ministry said it will take the measures needed to protect the legitimate rights of Chinese companies after the U.S. Added seven Chinese entities, mostly related to aerospace, to…