Sri Lanka c.Bank Raises Rates, Targets Inflation Despite Contraction In Economy
Sri Lanka’s central bank raised key interest rates to the highest in two decades to bring down record inflation; despite…
Year: 2022
Logistics Firm Declares Profit Growth Of 87%
Red Star Express Plc has declared N413.9m as its group profit before tax for the year ended March 31, 2022.…
Hungary’s Retail Sales Rise By 11.1% In May
Hungary’s calendar-adjusted retail sales rose by an annual 11.1% in May following a revised 15.7% increase in April, driven by…
Greek April Retail Sales Rise 10%, Led By Apparel
Greek retail sales by volume rose 10% in April compared to the same month a year earlier after a 12.3%…
20 Directors Jostle To Replace Fired AGF
The Federal Government has issued a circular to appoint a new and substantive Accountant-General of the Federation. Emanating from the…
Nigeria’s Central Bank Says Both Merchant And Consumer Can Now Present QR Codes For Payment
The Central Bank of Nigeria has announced a significant adjustment to the Quick Response (QR) Code Framework. Allowing the usage…
Debt, Inflation, Forex killing Economy, LCCI Warns FG- Nigeria.
The Lagos Chamber of Commerce and Industry has warned the Federal Government to find urgent solutions to the issues of…
Oil Firms Not Drilling Except NNPC, Says Kyari- Nigeria.
The Group Managing Director, Nigerian National Petroleum Company Limited, Mele Kyari, announced that the decline in the funding of oil…
Fidelity Bank Takes Over Three Discos, FG Intervenes- Nigeria.
The Federal Government announced the takeover of Kano, Benin and Kaduna electricity distribution companies by Fidelity Bank. This was after…
Solid Minerals Imports Rise By 74% In 12 Months
Recently, the value of solid minerals imports rose by 74.39% from N23.56bn in the first quarter of 2021 to N41.09bn…
Nigeria’s 26 Power Plants’ Capacity Drops By 70%
There has been a drop in the combined generation capacity of Nigeria’s 26 power plants by 70%. A breakdown of…
Oil Prices Bounce Back From Tuesday Tumble As Supply Concerns Return
Oil prices rose as much as nearly 3% before paring some gains as investors piled back into the market after…
Dollar Reigns As Investors Fear Recession Pain
Asian stocks fell and the dollar stood by a two-decade high on the euro as investors’ fears deepened that the…
Exxon Profit Set To Soar Again; White House Wants More Oil
Wall Street analysts sharply increased their Exxon Mobil Corp second-quarter profit estimates; after the largest U.S. oil producer projected it…
Oil Tumbles 9% On Recession Demand Destruction Fears
Oil plummeted about 9% in the biggest daily drop since March on growing fears of a global recession and lockdowns…
U.S. Exchanges Win Court Appeal On SEC Market Data Order.
A U.S. appeals court struck down an order by the Securities and Exchange Commission that would have allowed some financial…
Bridgewater’s Flagship Fund Posts Gains Of 32% Through June
Hedge fund manager Bridgewater Associates’ flagship Pure Alpha 18% volatility fund gained 32.2% in the first half of the year;…
Global Corporate Debt To Drop Amid Higher Funding Costs, Study Finds
Global corporate net debt has fallen by 1.9% to $8.15 trillion in the past year. As higher borrowing costs reduce…
Crypto Lender Voyager Files For Bankruptcy.
Voyager Digital (VOYG.TO) has filed for bankruptcy, the crypto lender said in a statement, a week after suspending withdrawals; trading…
NSITF Pays N300m Compensations To Employers, Employees- Nigeria.
According to the Nigeria Social Insurance Trust Fund,N306,554,896 was reimburse out over the previous four months; as claims and compensations…
Airbus Cancels Deal With Qatar Airways For Fourth A350
Europe’s Airbus (AIR.PA) has raised the stakes in a dispute with Qatar Airways over damage to the painted surface of…
NAICOM Revokes Niger Insurance, Standard Alliance Licences, Appoints Liquidators
Following the failure of several palliatives to strengthen both Niger Insurance Plc and Standard Alliance Insurance; the National Insurance Commission…
Real Estate Firm Cushman & Wakefield Held In Contempt, Fined $10,000 A Day
A New York judge on Tuesday held real estate firm Cushman & Wakefield PLC; in contempt of court for not…
FG Reveals Why It Is Pushing For More Public Private Partnerships In Nigeria
The Federal Government has declared that the current financial situation of Nigeria brought about by the global COVID-19 pandemic; and…
Central African Republic Starts Crypto Hub To Boost Financial Inclusion
To encourage the growth of the regional crypto ecosystem, the Central African Republic (CAR); developing the Sango crypto hub initiative, which is…
Oil And Gas Is Best Performing Index In HY 2022 With 58% Gain
Russia’s invasion of Ukraine has led to a sharp rise in global oil prices; amounting to more than 100 dollars…
Mexico’s Femsa To Buy Swiss Store Operator Valora for $1.15 Bln In Europe Push.
Mexican bottler and retailer company Fomento Economico Mexicano (Femsa) (FEMSAUBD.MX) offered to buy Swiss kiosk operator Valora (VALN.S); in a…
Court Restrains Kano Govt From Borrowing N10bn For CCTV Cameras- Nigeria.
A Federal High Court sitting in Kano presided over by Justice Abdullahi Muhammad Liman has restrained Kano State Government; from…
Tinubu To Buy 299.25m Oando Shares, As Exits Trail SEC Out-Of-Court Settlement
Wale Tinubu and Italian investor, Gabriele Volpi have agreed to acquire shares of minority investors. As they demand to exit…
First Vessel From Hong Kong Berths At Lekki Deep Seaport- Nigeria.
Three Ship-to-Shore cranes and 10 Rubber-Tyred Gantries critical to the commencement of operations of the Lekki Deep Seaport arrived in…