Gold Drops Below $1,700 An Ounce, Lowest Level In Over A Year Amid Anticipated Interest Rate Hike.
The price of gold declined in London, reaching its lowest level in over a year. As investors anticipated interest rate…
Year: 2022
China Takes Steps To Ease Up On Regulatory Crackdown As Economy Slows
Chinese authorities imposed a $1.2 billion fine on ride-hailing firm Didi Global Inc, a move that signalled an end to…
Elon Says Tesla Could Buy Back Bitcoin After Selling $936 Million Worth.
Tesla, an electric car company run by Elon Musk, sold the majority of its bitcoin holdings in the second quarter…
Unilever’s India unit warns of higher prices as costs pressure margins
Hindustan Unilever Ltd, India’s largest consumer goods maker, warned on Tuesday that high inflation will dent its margins in the…
Exchange Rate Skyrockets To N644/$1 At Peer-To-Peer Market As Forex Scarcity Lingers.
Wednesday, 20th July 2022: The exchange rate between the naira and the US dollar closed at N426.58/$1; at the Investors…
Investors Of Nigerian Breweries Lose N27 Billion In A Trading Day.
Sustained sell pressure witnessed on shares of some blue-chip firms quoted on the Nigerian Exchange; has resulted in shareholders of…
Nigeria Can Unlock Non-Oil Export Opportunities, Says Ovia, Dangote, Others
Stakeholders, including Jim Ovia, founder and Chairman of Zenith Bank Plc; Aliko Dangote, chairman of Dangote Industries Limited, and Godwin…
China Fines Didi Global $1.2 Billion For Violating Data Security Laws.
China’s cybersecurity regulator fined Didi Global Inc $1.2 billion, concluding a probe that forced the ride-hailing leader; to delist from…
Tesla Profit Tops Target; Musk Sees No Demand Problem.
Tesla Inc (TSLA.O reported a smaller-than-expected drop in quarterly profit as a string of price increases; on its electric vehicles…
Darkness As Nigeria’s Electricity Grid Collapses Again, Sixth Time In 2022
Major Nigerian cities including the Federal Capital Territory were thrown into darkness on Wednesday when the country’s electricity grid collapsed. Electricity distribution…
Verve Welcomes First Francophone Merchant Aggregator, Targets 40 New Operators
Africa’s payment technology Verve International has welcomed its first francophone e-commerce and merchant aggregator, CinetPay into the Verve ecosystem. CinetPay,…
Exxon Mobil Dividend Yield Pushes Past 4%
In trading on Wednesday, shares of Exxon Mobil were yielding above the 4% mark based on its quarterly dividend (annualized…
Premint To Return $500K In Ethereum To NFT Hack Victims
NFT registration platform Premint, which suffered a hack over the weekend that stole more than 300 NFTs from users’ wallets,…
Elon Musk’s Tesla Sells 75% Of Its Bitcoin Holdings
Tesla sold 75% of its Bitcoin, worth approximately $936 million, according to its Q2 earnings report. In its after-market earnings announcement,…
NIN: Why Nigeria May Miss World Bank’s 148 Million National Identification Number Enrolment Target
There are strong indications that Nigeria may miss the World Bank’s target of 148 million enrollments for the National Identification…
Canada’s Inflation Rate Hit 8.1% In June As Gasoline Prices Bite
Canada’s annual inflation rate accelerated to 8.1% in June, missing forecasts but remaining at its highest level since January 1983,…
Canada Home Price Index Growth Slows Again In June – Teranet
Canadian home price growth slowed sharply in June from May; with year-over-year price gains also inching off recent record highs,…
Why The Black Market Is Holding The Naira Ransom
The naira continued to devalue against the dollar as it traded at N630 per dollar. However, the official market saw…
FG Completed 266 Ecological Projects Since 2015—Buhari
The President, Major General Muhammadu Buhari (retd.) revealed that the Federal Government; between 2015 and 2022, completed at least 266…
Inside Safaricom Top Executive Shake-Up
More than half of Safaricom’s executives have quit the telco over the past two years; allowing CEO Peter Ndegwa who…
Suppliers Plan Class Action Over Sh574Bn Unpaid Bills
Government suppliers are planning to file a class action suit over arrears owed by parastatals, ministries, counties and other State…
Forex Reserves Fall Amid Debt Repayment Pressure
Kenya’s official foreign reserves have fallen to Sh941.5 billion ($7.953 billion) in the week ended July 14; with the import…
CIC Halts Land Sale On Lukewarm Interest.
CIC Insurance Group has postponed the sale of its subdivided 200-acre land in Kiambu to next month after the August…
AfDB Board Approves Over $1Bn For Emergency Food Production Plan
The African Development Bank (AfDB) Group’s Board of Directors has approved 24; fast-track programmes to help the continent mitigate rising…
IFC Bets Big On Kenyan Banks.
The International Finance Corporation (IFC) is channelling billions of shillings into Kenyan small businesses and women-owned enterprises through strategic loan…
Dangote Industries Successfully Completes N187Bn Bond Issuance
Dangote Industries Limited (DIL), one of the leading, diversified and fully integrated conglomerates in Nigeria and Africa; yesterday announced the…
EFCC Extradites Nigerian Fraud Suspect On FBI’s Wanted List To US.
A wire fraud suspect, Fatade Idowu Olamilekan, who is on the wanted list of the Federal Bureau of Investigation (FBI)…
Outcry As CBN Raises Interest Rate Again- Nigeria.
The Monetary Policy Committee of the Central Bank of Nigeria raised the Monetary Policy Rate from 13 % to 14%.…
Buhari unveils NNPC Limited, agency halts FAAC remittances.
The Nigerian National Petroleum Company Limited on Tuesday made it clear that it would no longer remit any money; to…
FG Continues $3.5Bn Eni & Shell Suit, Italy Drops Charges
Nigeria will continue its $3.5bn civil claim against Shell Plc and Eni SpA after Italian prosecutors dropped criminal proceedings against…