Blame Policymakers, Lawmakers For Oil Price Rises, OPEC Sec Gen Says.
Policymakers, lawmakers and insufficient oil and gas sector investments are to blame for high energy prices, not OPEC, Secretary General…
Month: August 2022
Russian Mobile Operator MTS Reports 36% Drop In Q2 Net Profit.
Russia’s biggest mobile operator MTS reported a 36.4% drop in second-quarter net profit from the same period last year; as…
Asset-Backed Stablecoin, HUSD, Loses Peg, Drops To $0.92.
The HUSD stablecoin, which touts to be a “secure, reliable, and fiat-collateralized stablecoin, that combines the stability of the US dollar…
Canada Inflation Eases To 7.6% In July, But Analysts Eye Oversized Rate Hike.
Canada’s inflation rate eased slightly in July, as lower gasoline prices outweighed fast-rising food prices; but economists said hot core…
Memecoins Rally As Crypto Market Cools Off.
Its “meme” rally in the cryptocurrency space as investors seem to be hungry to take on more risk given the…
Ghana’s Central Bank Hikes Interest Rate To 22% To Combat Inflation, Forex Crisis.
Ghana’s central bank has raised its interest rate by 300 basis points to 22% to tame inflation and stabilize the…
Seme Customs Intercepts 119,940 Litres Of Petrol Worth N28.924m – Nigeria.
The Seme Command of the Nigeria Customs Service (NCS) has intercept 3,998 jerry cans of Premium Motor Spirit (PMS); equivalent to 119, 940…
Why We Can’t Generate 5,000mw Of Power – Nigeria FG
The Federal Government blamed its inability to reach the target of 5,000 megawatts of electricity generation as promised on shortage of…
After Elon Musk’s Joke, A Fake Manchester United Token Increases By Nearly 3,000%.
A fake Manchester United token as gained over 3,000% after Elon Musk, the world’s richest man, stated that he was…
Naira Appreciates Slightly At Black Market, Trades At N677/$1.
Wednesday, 17th August 2022: The exchange rate between the naira and the US dollar closed at N429.38/$1 at the Investors and…
Electricity Workers Suspend Strike Amid Blackout- Nigeria.
The National Union of Electricity Employees (NUEE) has suspended its nationwide strike for two weeks. The secretary-general of the union, Joe…
After the Fed minutes, Asia’s Shares Decline But The Dollar Remains Stable.
Asian shares fell, tracking Wall Street’s losses as the U.S. Federal Reserve looked set to maintain its path of interest…
IFC Of The World Bank Uses Blockchain To Track Carbon Offsets.
International Finance Corp (IFC), a World Bank affiliate, told Reuters it is backing a blockchain-enabled platform to trade carbon offsets;…
CBN Raises Interest Rate on Naira Savings Deposits to 30% of MPR.
The Central Bank of Nigeria (CBN) has announced an upward adjustment of the negotiable minimum interest rate; payable on local…
UBA Launches Innovative Experience Centre in Abuja, Nigeria.
Africa’s Global Bank, the United Bank for Africa has just launched a modern and future-forward Experience Centre in Abuja, Nigeria.…
ExxonMobil Assets: Oil Workers Commend FG’s Rejection Of Seplat Acquisition.
Oil workers under the umbrella of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN); have hailed President Muhammadu Buhari’s…
Crypto.com Gets UK Regulatory Approval.
Singapore-based cryptocurrency platform Crypto.com has registered with Britain’s financial services regulator, the company said in a statement on Wednesday. Joining…
Emirates Airlines To Suspend Flights From Nigeria From September 1 Over $85million Trapped Revenue.
Emirates Airlines has announced the suspension of its flight operations to Nigeria, starting September 1, 2022, over its $85 million…
Russia Fines Streaming Site Twitch Over 31-Second ‘Fake’ Video.
A court in Russia has fined streaming service Twitch 2 million roubles ($33,000) for hosting a short video containing what…
Oil Prices Turn More Volatile As Investors Exit The Market.
Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the…
The Disappointing Economic Backdrop To China’s Policy Dilemma.
China’s central bank cut its interest rates on Monday for the second time this year, but analysts suspect it will…
Canadian Housing Starts Rise 1.1% In July.
Canadian housing starts surprisingly rose in July compared with the previous month, data from the national housing agency. The seasonally…
Skeptical On U.S. Stocks, Equity Hedge Funds Sit Out Market Rally.
Still uncertain on where U.S. Stocks are headed, equity hedge funds are sitting out the market rally; despite taking big…
China Vows To Support Digitalisation Of 4,000-6,000 Small Firms By 2025.
China will support around 300 service platforms to help with the digital transformation of 4,000-6,000 small- and medium-sized enterprises till…
U.S., European Banks Could Lose Over $5 Bln From Risky Buyout Loans.
Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S.…
Nearly 67,000 Investors Lose Everything As Bitcoin Drops Below $24K.
Following weeks of occasionally encouraging, sometimes confusing economic indices; and company profits, investors are still in a wait-and-see mentality, as…
Kenyan Shilling Plunges Against Dollar Since William Ruto’s Victory.
Kenya’s currency, the shilling weakened against the dollar as the country’s election commission; announced Deputy President, William Ruto winner of…
Nigeria’s Foreign Reserve Continues Improvement As Naira Dips Further At I&E Window.
Tuesday, 16th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1; at the Investors and…
Google Invests Over $1.5 Billion Into Blockchain Companies In 10 Months.
Google’s parent company, Alphabet, has invested over $1.5 billion into blockchain-focused companies between September 2021 and June 2022. This is…
By The End of 2022, The U.S. Claims That Roughly 20 Models Will Receive EV Credits.
The Biden administration said about 20 models will still qualify for electric vehicle tax credits; of up to $7,500 through the end…