Alibaba Revenue Beats Despite Flat Growth Due To COVID Lockdown.
China’s Alibaba Group Holding Ltd (9988.HK), beat market expectations for revenue in the quarter ending late June; even though growth was flat for the first time ever due to the…
Futures Steady After Rally With All Eyes On Labor Market Data.
U.S. stock index futures were trading flat on after a rally that made the previous session the best in a week; with investors looking forward to weekly jobless claims data…
NNPC Sells N147bn Petrol, Diesel In One Month.
The Nigerian National Petroleum Company Limited said it made N147.36bn from the sale of petrol and diesel in October 2021. It announced this, adding that the white products comprised 1,098.17…
FG Generates N2.5bn Daily From TinCan Port – Nigeria Customs.
The TinCan Island Command of the Nigeria Customs Service has said that the command makes an average of N2.5bn daily. The Customs Area Controller in charge of TinCan Island Command,…
Importing What Nigeria Can Produce Threatens Economy – Customs
The Nigeria Customs Service has said that importing what the country can produce is a big threat to the economy. The coordinator of Comptroller General of Customs Strike Force, Zone…
Magic Eden, Leading NFT Marketplace In Solana, Is Extending Into Ethereum.
Magic Eden, a unicorn cryptocurrency recently valued at $1.6 billion, is starting its multi-chain growth alongside Ethereum. The business recently acknowledge that Ethereum was the first blockchain to be include…
If Recession Concerns Subside, The Canadian Dollar May Increase.
Analysts expect the Canadian dollar to rally over the coming year, betting the threat of recession will ease as the U.S. Federal Reserve and the Bank of Canada likely wind…
Russia Becomes India’s Third-Largest Coal Supplier In July.
Russia became India’s third-largest coal supplier in July, with imports rising by over a fifth compared with June to a record 2.06 million tonnes, data from Indian consultancy Coalmint showed.…
Hit By Rising Costs And Supply Snarls, Toyota Profit Tumbles 42%.
Toyota Motor Corp’s (7203.T) profit slumped a worse-than-expected 42% in its first quarter; as the Japanese automaker was squeezed between supply constraints and rising costs. Operating profit for the three…
Foreigners Cut China Debt, Dump Equities In July – IIF.
Foreign investors continued to cut holdings in Chinese bonds in July and dumped equities for the first time in four months, according to a report by the Institute of International…
Italy To Approve $14.5 Billion Package Against Inflation.
Italy plans to approve on Thursday a new aid package worth around 14.3 billion euros ($14.5 billion); to help shield firms and families from surging energy costs and consumer prices,…
Stocks Steady As Markets Bet On Hefty Bank Of England Hike.
Strong earnings at Credit Agricole and Lufthansa lifted stocks as tension over Nancy Pelosi’s visit to Taiwan eased and markets bet the Bank of England will hike interest rates by…
How Fake Drugs Threaten Nigeria’s Multi-Billion Pharma Industry.
The National Primary Healthcare Development Agency, NPHDA, said that over 70% of medicines being dispense in Nigeria were substandard. The agency noted that the majority of Nigerians did not have…
Twitter Queries Banks On Musk’s Attempts To Undermine $44 Bln Deal.
Twitter Inc is attempting to find evidence that Elon Musk tried to torpedo the financing of his $44 billion takeover deal; for the social media company while also looking into…
Brazil’s 3R Petroleum Subsidiary Agrees On $500 Mln Loan To Pay For Potiguar Oil Field.
Brazil oil company subsidiary 3R Lux agreed to a $500 million loan to pay for the country’s Potiguar oil field. The company said the loan will be granted by a…
PayPal Registers To Indonesia’s Licensing Rules, Access Unblocked.
U.S. payments firm PayPal (PYPL.O) has registered as an electronic systems operator in Indonesia; and its customers can now access its services, the company said. PayPal was one of several…
UBA Appoints New GMD.
United Bank for Africa Plc announced the appointment of Oliver Alawuba as its group managing director; overseeing all the Group’s banking operations across its 20 African country networks and globally…
AXA’s Shares Surge As Insurer Unveils Share Buyback And Higher H1 Profits.
French insurer AXA announced a new share buyback programme as it posted a 3% rise in first-half net profit, driving up its stock price. AXA, Europe’s second-biggest insurer behind Germany’s…
JPMorgan, Bank Of America Invest In L’ATTITUDE Ventures’ First Fund
L’ATTITUDE Ventures on Wednesday closed its first institutional fund raising over $100 million with an anchor investment; from Wall Street giant JPMorgan Chase (JPM.N) and initial investments from Trujillo Group…
EU Securities Watchdog To Arm Itself With Crypto Data.
The European Union’s securities watchdog has begun preparations for increased scrutiny of crypto transactions; after the bloc agreed groundbreaking rules to regulate what it called a “Wild West” sector, a…
Dollar Dips As Investors Parse Fed Hints On Rate Hikes.
The U.S. dollar edged lower but held on to most of the previous day’s gains, after leaping on Federal Reserve officials’ hints at aggressive rate hikes and drawing support amid…
India’s Tata Capital Housing Finance To Issue Bonds – Traders.
India’s Tata Capital Housing Finance plans to raise funds through sale of a two-part bond issue, three merchant bankers said. The housing finance company plans to raise at least 500…
Gains From MTN Nigeria, 18 Other Stocks Lift Market Activities To Bullish Stance.
Activities on the Nigerian Exchange Limited (NGX) returned to positive route following gains recorded by blue chip firms. Checks by Nairametrics showed that the gains recorded in the shares of…
Half Year: Dangote Sugar Posts N29:73 Billion Profit.
Nigeria’s largest sugar refinery, Dangote Sugar Refinery Plc has recorded a profit before tax (PBT) of N29.73 billion; for the half year ended June 30, 2022. According to the refiner’s…
Naira Falls At I&E Window Despite A 163% Surge In Forex Supply.
Tuesday, 2nd August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1. Naira closed on a bearish note, falling by 0.42% to close at N430.67/$1…
Top 5 Cryptocurrencies To Watch In August 2022.
The cryptocurrency space in the month of July 2022, saw it post a bullish performance since March 2022. This comes as a recovery from June 2022, which was one of…
Black Market Speculators Lose Big After Naira Gains N50/$1 In A Few Days.
Since the start of August, the naira has continued to rise while holding onto its gains amid weak buying pressures; of the greenback in Nigeria’s black market. A few days…
Nigerian Stocks: List Of Dividends Announced In 2022.
As audited accounts start to trickle in, companies will propose dividend payments to their shareholders; as recommended by their respective boards of directors. It is also important to track these…
‘Glimmer Of Hope’ As Ukraine Grain Ship Leaves Odesa Port.
The first ship to carry Ukrainian grain through the Black Sea since Russia invaded Ukraine five months ago; left the port of Odesa for Lebanon under a safe passage deal…
Why So Many Nigerians Lose Money In Currency Trading.
The international foreign exchange market is the biggest financial market in the world, with a daily trading volume estimated to be around $7 trillion. Nigeria is one of the nations…