Shareholders Of Nestle Nigeria Lose N124.05 billion Year-To-Date On Sell Pressure
Sell pressure witnessed on the shares of Nestle Nigeria Plc since the beginning of the year has resulted in investors…
Year: 2022
US Inflation Rate Jumps To 9.1% — Highest In Almost 41 Years.
The annual inflation rate of the United States reached 9.1% in June, the highest rate in almost 41 years.The Bureau…
Naira Falls To N620/$1 At Peer-To-Peer Market As FX Scarcity Persists.
The exchange rate between the naira and the US dollar closed at N424.58/$1 at the Investors. And Exporters (I&E) window,…
Directors Of 10 Banks Pocket N6.96bn Allowance, Compensation
Directors of 10 banks collected N6.96bn sitting allowance and compensation in 2021; according to an analysis of the lenders’ financial…
African Airlines’ Cargo Volumes Drop By 1.5% In One Year.
African airlines saw cargo volumes decrease by 1.5% in May 2022 compared to May 2021. This was disclose by the…
Nigeria Crude Oil Production Increases To 1.238 Million Barrels Per Day In June
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production; increased to an average of 1.238 million…
Microfinance Bank Launches Digital Banking Platform.
One of the fastest growing financial institutions in Nigeria , PatrickGold Micro Finance Bank; has launched a digital banking platform,…
Stakefair Launches, Raises $670,000 In Pre-Seed Funding
Stakefair, a Decentralized Finance (DeFi) company that is poised to disrupt the Real-Money Gaming industry, has launched. Stakefair allows users…
Oil Falls Below $100, Nigeria’s Production Hit 1.158mb/d
Brent, the international benchmark for crude; fell below $100 per barrel as the latest figures released by the Organisation of…
Global Startup Funding Fell 23% In Q2 2022, Largest Drop In About A Decade.
Venture capitalists are reckoning with their worst quarter in almost a decade as economic uncertainty. And lackluster returns have prompted…
Tizeti Declares First Dividend Of N2.00 Per Share For Year Ended December 2021.
Pioneer solar-based internet service provider in West Africa, Tizeti Network Limited; is set to pay its shareholders its first dividend…
Euro At Parity And Talks Of A 100 Bps U.S. Rate Hike
A look at the day ahead in markets from Dhara Ranasinghe. After staring parity against the dollar in the face…
Bears Maintain Dominance As Stock Market Valuation Dips By N90 Billion.
The Nigerian Exchange Group closed negative amidst buy-interests and sell-offs as bears dominated proceedings. Weighing down the broad market by…
Crypto Lender Celsius Files For Bankruptcy
U.S. crypto lender Celsius Network said it has filed for bankruptcy; becoming the latest victim in the cryptocurrency sector to…
Court Grants N10 Million Bail To Forex Trader Charged With N20 Million Exchange Fraud.
Justice Oluwatoyin Taiwo of the Ikeja Special Offences Court has granted bail in the sum of N10 million to one…
Building Collapses In Lagos Nigeria.
A building collapsed in the early hours of Wednesday, July 2022 in Onipanu area of Lagos State. The affected building…
Kadmos, a salary payments platform for migrant workers, raises $29.5M
Companies from across the industrial spectrum often rely on a migrant workforce employment. But being away from their domestic jurisdiction…
Russia’s Sberbank Executes First Digital Asset Issue On Its Platform.
Russia’s dominant lender Sberbank (SBER.MM) said it had carried out the first digital financial asset transaction on its own platform.…
Forex Flow To Nigeria Rise By $10.75bn.
Nigeria has recorded $10.75bn foreign exchange inflow in two months, figures obtained from the Central Bank of Nigeria have revealed.…
Zambia Plans To Cancel Over $2 Billion Projects To Rein In Debt.
Zambia is cancelling more than $2 billion worth of projects financed by commercial loans. To reduce the risk of accumulating…
Japan’s Machinery Orders Fall For First Time In 3 Months.
Japan’s core machinery orders slipped for the first time in three months in May. Hurting hopes that a pickup in…
Danske Cuts Profit Outlook Due To Challenging Financial Market Conditions.
Danske Bank (DANSKE.CO) reduced its full-year net profit outlook, hurt by rapidly rising interest rates and unfavorable financial market conditions.…
Asian Firms May Struggle To Refinance Dollar Debt, Ratio Suggests
Asian companies are likely to find it harder to refinance dollar-denominated debt. The decline in a key metric suggests; with…
Chinese Property Developer Ronshine Misses Interest Payments On Two Bonds.
Chinese property developer Ronshine China Holdings Ltd (3301.HK) has not made interest payments on its June 2023 and December 2023…
Shell Invests $38 Million In Carbon Credit Projects In Brazil.
Shell (SHEL.L) said it has invested 200 million reais ($38.07 million) into a Brazilian preservation-focused company. Carbon credit developer Carbonext…
Oil Companies Oppose FG- Nigeria.
Oil and gas companies have committed to gas flare reduction in Nigeria. Some of them opposed the enforcement of penalties…
China Industry Body Cuts 2022 Auto Sales Growth Forecast To 3%
China’s automobile industry association downgraded its 27022 sales forecast; as anti-pandemic measures weighed on the economy and its car market,…
Bank Of Korea To Hike Rates By Historic 50 Bps
South Korea’s central bank will deliver its first-ever 50 basis point rate rise to 2.25%; turning up the heat on…
Twitter Hires Law Firm Wachtell To Sue Musk After Pulling Out Of $44 Billion Deal
Twitter Inc has hired U.S. law firm Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk;…
Brazil’s Itau To Buy 35% Stake In Broker Avenue For $92 Mln, Eyes Control Later
Brazil’s largest private lender Itau Unibanco Holding SA (ITUB4.SA) has agreed to acquire control of Avenue; a brokerage that provides…