Oil Prices Jump As Soft Dollar, Tight Supplies Support
Oil prices extended gains, propped up by a weaker dollar and tight supplies that offset concerns about recession; and the…
Year: 2022
India’s HDFC Bank’s April-June Profit Rises 19% On Year
India’s largest private lender, HDFC Bank Ltd said its net profit for the three months to June rose 19% from…
BlackRock Misses Profit Estimates, Pulls Back Hiring After Market Turbulence
BlackRock Inc said it is tightening its belt and putting off some hiring amid an economic environment; that has spooked…
Citigroup Shares Surge On Profit Beat, Core Business Strength
Citigroup Inc shares surged over 10% on Friday after the third-largest U.S. bank posted a smaller-than-expected 27%; drop in quarterly…
Wells Fargo Profit Slumps On Higher Loan Loss Reserves, Mortgage Weakness
Wells Fargo & Co said on Friday its second-quarter profit nearly halved as the bank set aside more funds to…
Russia To Block Sale Of Foreign Banks’ Russian Subsidiaries- Ifax Cites Finance Ministry
Russia will block the sale of foreign banks’ Russian subsidiaries while Russian banks abroad cannot function normally; the Interfax news…
China Steps Up Loan-Support Efforts To Developers Amid Mortgage Boycott
Chinese regulators stepped up efforts to encourage lenders to extend loans to qualified real estate projects; as the beleaguered property…
New Zealand’s Inflation Hits 3-Decade High, Raising Bets On Sharper Rate Hikes
New Zealand’s consumer prices rose at their fastest pace in three decades; beating forecasts and raising the prospect of an…
Deliveroo Slashes Revenue Outlook On Deteriorating UK Economy
British food delivery company Deliveroo slashed its full-year revenue guidance, blaming a worsening economic outlook as pressures on consumers mount.…
Finland’s Nordea Posts Profit Above Expectations
Growth in earned loan interests aided Finland’s Nordea to a rise in second-quarter; operating earnings despite customer activity slowing down…
Binance CEO: Africa Ready For Crypto Adoption
Binance CEO Changpeng Zhao has said Africa is ready for crypto adoption. According to Zhao, blockchain provides a level of…
Algeria-Tunisia Border Crossings Reopens After Two Years. 
More than two years after the closure of the Tunisian-Algerian border due to the coronavirus pandemic, on Friday several cars…
Animal-to-Human Diseases On The Rise In Africa, UN Health Agency
Diseases transmitted from animals to people in Africa have jumped 63% in the last decade, compared with the previous ten-year…
Russian McDonald’s Runs Short Of French Fries
Former McDonald’s restaurants in Russia are facing a shortage of French fries due to a poor harvest and Western sanctions…
ECOWAS Court Tags Twitter Ban “unlawful and a violation of rights of Nigerians”
The ECOWAS Community Court of Justice has declared that the federal government’s order to ban Twitter in June 2021 was…
Trade Unions Pull Out Of Maritime Council Over Breach Of Agreements
Maritime Workers Union of Nigeria says it has withdrawn its membership from the Council of Maritime Transport Unions and Associations…
Dangote Cement Signs 5-Year Agreement On Development With Host Communities
Dangote Cement has signed a five-year community development agreement with its Ibese Plant host communities in Ogun State. The contract serves as…
Ogun Inaugurates W’Africa’s First Fibre Optic Cable Factory- Nigeria.
The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo and the Executive Secretary of the Nigerian Content Development and…
Anti-Corruption Agencies May Recover IOCs $6.4bn Debt – NEITI.
The Nigeria Extractive Industries Transparency Initiative threatened oil firms operating in the country that it would not hesitate to activate…
Mutual Funds Rebound, Assets Hit $3.64bn – Report.
After suffering decline in 2021, Nigeria’s assets under management in mutual funds rose to $3.64tn in the first five months…
IMF, World Bank Group Announces Dates For 2022 Annual Meetings
According to a joint statement by the IMF and World Bank Group, the date for the 2022 Annual Meetings has…
International Organization Of Securities Commissions Publishes Crypto-Asset Roadmap For 2022-2023.
International Organization of Securities Commissions (IOSCO) has published its Crypto-Asset Roadmap for 2022-2023. Which sets out its regulatory policy agenda…
Amidst Rising Inflation, Telcos Are Rolling Out Cheaper Tariff Plans
Despite the rising inflation across sectors of the economy and globally, telecommunications operators in Nigeria are still rolling out more…
Crude Oil Theft In Nigeria Is “Organized Crime”–Chevron Nigeria CEO.
Crude oil theft in Nigeria is an organized crime and should be differentiated completely from host community issues. This is…
Nigerian States Pay N21.62 Billion As External Debt Deductions In Q1 2022
Thirty-six states of the federation parted with a sum of N21.62 billion; as external debt deductions in the first quarter…
Why Gold Prices Are Falling Despite High Inflation.
As the greenback stayed close to a two-decade high on international markets; the yellow shining metal today dropped to nine-month…
FG Approves N400 Billion For Conditional Cash Transfer, Farmer Money, others- Nigeria.
The Federal Government has approved the sum of N400 billion under the National Poverty Reduction and Growth Strategy (NPRGS). Which…
Ericsson’s $6.2 bln Vonage Takeover Gets U.S. Clearance
Telecom firm Ericsson (ERICb.ST) has received clearance from the U.S. national security panel to complete a $6.2-billion acquisition of cloud…
Dollar Catches Breath As Fed Officials Leave Market Pondering Over Rates Path.
The dollar hovered below a near two-decade high in Asian trading, having slipped overnight. After two Federal Reserve policymakers said…
Stocks Stumble, Dollar Steadfast As Weak China Hardens Growth Worries
Asian stocks hit a two-year low on Friday and were heading for a weekly loss; while it set the dollar…