Essity Buys 80% Of Canada’s Knix Wear For $313 Million
Sweden’s Essity on Friday said it had agreed to buy 80% of Canadian company Knix Wear. A maker of leakproof…
Year: 2022
Nigeria’s Capital Importation Loses $6.92bn, As Inflows Dip In Four Consecutive Quarters
For the period of Q1 2022, NBS disclosed that capital importation, which consists of financial and equipment capital importation, was $1.57 billion,…
CBN Releases Guidelines For Digital Financial Service Awareness
The Central Bank of Nigeria has issued an exposure draft for the digital financial services awareness guidelines to address gaps…
Euro At The Verge Of Breaching Parity, Stocks Slide Again
The euro has been particularly vulnerable given the impact of an ongoing spike in natural gas prices on the regional…
Infrastructure: FG Eyes 70% Capital Stock, $150Bn Annually
The Federal Government is targeting 70 per cent capital stock and $150bn yearly to close Nigeria’s yawning infrastructure gap. But…
External Reserves Gain $679.12M In One Month
NIGERIA’S external reserves returned to a growth path after gaining $679.12m. However, Figures obtained from the Central Bank of Nigeria…
NatWest Hands Staff Pay Rise To Ease Impact Of Soaring Inflation
British bank NatWest has joined rivals in handing out an unscheduled pay boost; to staff to help shield them from…
Half Of Britons Buy Less Food As Prices Surge
Almost half of British people have cut back on food purchases as prices surge; while others are having to spend…
Nigerian Banks Loan N3 Trillion To The Private Sector In 6 Months
Banks’ credit to the private sector hit its highest level in May 2022, reaching N38.19 trillion from N35.19 trillion recorded…
DeFi Ecosystem Lost $156 Billion In Total Value Locked In Q2 2022
Currently, the cryptocurrency space has lost a great deal; especially with Bitcoin posting its worst quarterly performance in 11 years.…
Airtel Reduces Debt To Parent Company By $450 Million
Airtel Africa announced that it has redeemed up to $450 million out of the $1 billion loan it owes to…
Naira Falls At I&E Window Despite Massive Improvement In Dollar Supply
The exchange rate between the naira and the US dollar closed at N428.16/$1: which at the Investors and Exporters (I&E)…
Ardova Plc Blames Subsidiaries For N3.8 Billion Full Year Loss
Oil and gas retail giant, Ardova Plc reported a loss of N3.8 billion for the year ended December 2021. This…
Debt Management Office Lists $1.25 Billion Eurobond On NGX, FMDQ
The Debt Management Office (DMO) has announced plans to list the 8.375%, $1.25 billion; March 2029 Eurobond on the Nigerian…
Neimeth To Commence N3.67Billion Right Issue In August 2022
Neimeth International Pharmaceuticals Plc has concluded arrangements to commence its N3.67 billion right issue; to the existing shareholders of the…
Stock Market Closes Flat, Valuation Up By N12 Billion
The NGX closed on a flat note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 1…
Ghanaian Cedi Drops By A Whopping 30% Against The US Dollar In 6 Months
The Ghanaian cedi has lost 30.56% against the US dollar in 6months. The drop in the Cedi comes despite Ghana’s…
China Tightens Rules On $1.3 Trln Credit Card Business
China unveiled tighter rules to better regulate its $1.3 trillion credit card industry; further urging lenders to adopt a “prudent”…
Concerns As 121 Firms Delisted From Nigeria’s Stock Exchange In 20 Years
According to data got from the Exchange; they has delisted 121 quoted companies from the official list of Nigerian Exchange…
FG Approves N22.45bn For Petroleum, Environment Ministries- Nigeria.
The Federal Government, approved of N22.45bn for projects in the Ministries of Petroleum Resources and Environment. The Minister of Environment,…
Kenyan Court Freezes Accounts Belonging To Flutterwave, Others Over Alleged Money Laundering
A Kenyan High Court has seized Sh7 Billion ($59 million), from 56 accounts belonging to fintechs including Nigeria’s Flutterwave; stating…
Bitcoin Above $20K For Third Day In A Row As Avalanche Posts Decent Gains.
The price of the most valuable crypto by market value was around $20.5K, as it stayed above the key support…
Senate Vows To Support AMCON’s Debt Recovery Drive
The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani; has reiterated the willingness of the…
Bears Maintain Dominance In The Stock Market As Valuation Dips By N16 Billion.
The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 6…
Merck In Advanced Talks To Buy Seagen In Nearly $40-Billion Deal – WSJ
Drugmaker Merck & Co is in advanced talks to buy cancer-focused biotech company Seagen Inc in a deal; that could…
Brent Falls Below $100 For The First Time Since April 2022.
The price of the global benchmark has fallen to a level not traded in 12 weeks. As a result of…
Rihanna Breaks Records To Become The Youngest Self-Made Billionaire At $1.7 Billion Networth.
Musician turned business mogul, Rihanna has just become America’s youngest self-made billionaire with $1.7 billion. In the past year, Forbes…
UK House Prices Surge By 13%, Most Since 2004, Halifax Says
House prices in Britain rose by the most since 2004 in the 12 months; leaping by 13% as better-off households…
Tesla Sold 78,000 China-Made Vehicles, Up 142%
U.S. electric vehicle maker Tesla Inc (TSLA.O) sold around 78,000 China-made vehicles; preliminary estimates published by the China Passenger Car…
Credit Suisse Names New Head Of Swiss Private Banking.
Credit Suisse (CSGN.S) said it was naming Roger Suter its new head of private banking in Switzerland. Succeeding current manager…