2022 Half Year: BUA Cement’s Talks Higher Interest Cost To Report 41% Growth In Earnings.
BUA Cement Plc on July 25, 2022, released to the investing public its Q2 financial statement for 2022. The Industrial…
Year: 2022
FG To Increase Penalties For Gas Flaring.
The Federal Government through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Society of Petroleum Engineers (SPE) Nigeria Council has…
CBN Commends Remita For Pioneering Usage Of eNaira
The Central Bank of Nigeria (CBN) has commended Remita, Nigeria’s leading Fintech platform; for pioneering the usage of eNaira for…
NNPC Commercialisation May Affect Govt Finances – Nigeria.
A member of the Nigerian Economic Summit Group, Dr Ikenna Nwaosu, says the recent commercialisation of the Nigerian National Petroleum…
INEC Says Voter Registration Will Not Be Extended Beyond July 31.
The Independent National Electoral Commission (INEC) has warned that it will not extend the ongoing Continuous Voter Registration (CVR) which…
FG Says It Used $35 Million From Excess Crude Account To Purchase Offshore Patrol Vessels- Nigeria.
The Federal Government has responded to reports that the Excess Crude Account has dropped from $35.7 million to $376,655. The…
United States’ Federal Reserve Raises Interest Rate By 0.75%
The Federal Reserve has raised its benchmark interest rates by 75 basis points for the second consecutive month in a…
Shell And Total Resume Their Buyback Following Record Profits.
Europe’s biggest oil companies Shell (SHEL.L) and TotalEnergies (TTEF.PA) extended share buybacks; after their second-quarter profits beat an already record-breaking previous quarter on the…
Rising Rates To Cushion Impact On Asia Banks From Slowing Economies.
Asia-focused lenders HSBC (HSBA.L), Standard Chartered (STAN.L) and their Southeast Asian peers such as DBS (DBSM.SI); are set to report an improvement in second-quarter net…
Central Bank Of Nigeria’s July 2022 Treasury Bills Auction Records 23% Oversubscription.
It is worth noting that, despite the rise in the interest rate, increased inflationary pressure to 18.6% in June 2022;…
Nigerians Run To Crypto Amid Falling Naira, Bitcoin P2P Trading Surge By 258% In 7 Days.
Many Nigerians are hedging against collapsing local currency by amassing dollar-denominated digital assets, in particular stablecoins and bitcoins. Thereby causing…
Nissan’s Operational Profit Fell By 14% In The First Quarter.
Nissan Motor Co’s (7201.T) first-quarter operating profit fell 14% to 64.9 billion yen ($478.08 million); the Japanese carmaker said, citing surging raw…
Atiku Proposes $10 Billion Economic Stimulus Fund To Support Agriculture, Manufacturing And MSMEs- Nigeria.
Atiku Abubakar, the presidential candidate for the Peoples Democratic Party, has stated that within the first 100 days in office;…
Nigeria Has The Second Largest Market For Cryptocurrencies In Africa In 2022- Bitget Report.
A new cryptocurrency market report titled, “What Does the Future Hold for Crypto Exchanges,” has revealed that; in terms of the cryptocurrency…
Naira To Dollar Exchange Rate Falls To N685/$1 At Peer-To-Peer (P2P) Forex Market.
The exchange rate between the naira and the US dollar has fallen to a record low at N685.5/$1 at the…
Crude Oil Prices At $100 Per Barrel Amid Declining United States Oil Stockpiles.
Oil prices remained stable as fears over weakening demand outweighed news from the industry; that revealed a larger-than-anticipated reduction in…
FG Shuts Oil Firm Over Illegal Offshore Operations- Nigeria.
THE Federal Government has shut down Scorpion Oil Services for carrying out offshore operations without approval and also violating the…
Russia-Made Goods Replacing Imports On The Country’s Shelves, Nielsen Says.
Russia-made products accounted for 83% of the country’s market for common consumer goods in the first half of 2022, up…
Russia Fines Google $34 Mln For Breaching Competition Rules.
Russia’s competition watchdog fined Alphabet’s Google (GOOGL.O) 2 billion roubles ($34.2 million); for abusing its dominant position in the video hosting market,…
Central African Republic’s Digital Coin Finds Few Buyers.
The sale of Central African Republic’s first digital coin got off to a slow start; with just over 5% of…
Indonesia Says Mitsubishi Motors To Invest About $667 Million Over Next Three Years.
Mitsubishi Motors Corp (7211.T) plans to invest about 10 trillion rupiah ($666.89 million) in Indonesia. This will be between 2022 and 2025,…
Remy Confident After China Sales Rebound In June.
Remy Cointreau (RCOP.PA) said it was confident over prospects for its current financial year. This was after first-quarter sales beat expectations and…
U.S. Retailers Tumble After Walmart Cuts Profit Forecast.
A profit warning by Walmart (WMT.N) ignited a sell-off in shares of major U.S. retailers late, quickly evaporating over $100 billion in…
Zenith Bank Retains Position In Banking Award.
Zenith Bank Plc has been rank as the number one bank in Nigeria by Tier-1 Capital in the 2022 Top…
Companies May Collapse Over Energy And Currency Crisis.
An economist, Bismark Riwane, and other experts have predicted that the high cost of power and diesel will lead to…
Amazon To Raise Prime Prices In Europe As Retailer Wrestles With Costs.
Amazon.com Inc (AMZN.O) will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year, the…
3M To Spin Off Healthcare Business.
3M Co (MMM.N) said the industrial giant plans to spin off its healthcare business and will retain a stake of 19.9% in…
UK Retailers Downbeat About Outlook For August – CBI.
British retailers are downbeat about the outlook for August as the cost-of-living squeeze weighs on demand. Despite a relatively modest…
KPMG Escapes Record Fine Over Carillion, Regenersis Audit Checks.
KPMG was to pay 14.4 million pounds after the accounting firm admit to providing false information. To its regulator during…
Tesla Raises Spending Plan, Discloses New Subpoena On Musk’s 2018 Tweet.
Tesla Inc (TSLA.O) has increased its capital spending plan by $1 billion, the electric automaker said in a regulatory filing; that also…