FG Approves Reforms To Boost Non-Oil Revenue To N3.8 Trillion Annually.
The Federal Government through the Federal Executive Council (FEC) has approved reforms to boost Nigeria’s non-oil revenue; to N3.8 trillion…
Year: 2022
The NGX Closes Flat As Market Cap Declines Slightly By N811 Million.
The NGX closed on a flat note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 0.3…
Rising Inflation, Others Worsening Naira Volatility
The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that rising inflation; among other…
Third Time Lucky For Italy’s De Nora Family As Shares Hit Market
Italy’s De Nora family is relieved that the electrode manufacturer made it onto the Milan Stock Exchange. After previous attempts…
Nigeria Boosts Deep Blue Project, Signs $2.7m Deal With Japan.
In a bid to boost the deep blue project, the Federal Government of Nigeria has signed a $2.78m exchange of…
Unity Bank Plans N10m Business Grant In Entrepreneur Initiative- Nigeria.
Unity Bank has said it will commence the eight edition of its flagship Entrepreneurial Development Initiative; Corpreneurship Challenge across 10…
Asian Shares Suffer Painful Quarter, Dollar In Rude Health
Asian shares were ending a rough quarter in a sombre mood. Amid fears central banks’ cure for inflation will end…
Over 20% Of Toshiba Investors Against Activist Fund Execs, Dissident Director.
More than 20% of Toshiba Corp (6502.T) shareholders voted against a dissident external director and two board directors from activist…
Russia’s Economy In May Fell 4.3% Year On Year.
Russia’s economy shrank by 4.3% in May year on year after falling by a revised 2.8% in April; the economy…
French Inflation In June Hit Record High Of 6.5% – Preliminary Figures.
French inflation climbed further from the previous month to a record high of 6.5%, according to official preliminary figures; adding…
Gartner Revises 2022 Mobile Sales Estimates To Fall 7.1%.
Gartner forecast global mobile phone sales to fall 7.1% this year, revising its earlier estimate of a growth of 2.2%,…
EU Backs Crypto Anti-Money Laundering Rules
European Union negotiators on Wednesday reached a provisional agreement on anti-money laundering rules for cryptocurrencies that would spur crypto firms…
Stocks Rise, Dollar Struggles On Fed Bets
World shares rose on and it pinned the dollar near five-week lows on hopes of an eventual slowdown in U.S.…
Nigeria’s Unclaimed Dividends Rises To N180 Billion
The Security and Exchange Commission (SEC) has stated that the commission is working to ensure it reduces the level of…
N50Trn Debt Stock: Again IMF Promises More Funds For Nigeria
Speaking at the National Economic Dialogue on ‘Critical Challenges Confronting the Nigerian Economy’ organized by the Nigerian Economic Summit Group…
CBN Raises Interest Rate To 13%
The Central Bank of Nigeria on Tuesday raised the interest rate to 13% for the first time in two years.…
GSMA Says Google, Facebook, Others Are Squeezing Telcos’ Revenue
The global body of mobile network operators, GSM Association (GSMA), has said that online service providers such as Google, Facebook…
Proposed Tariff Hike May Raise Telcos’ Voice Revenue To N1.55tn–NCC report
Telecommunications companies’ voice revenue could jump by at least N442.57bn to N1.55tn in a year. If the price floor of…
Oil Prices Take Breather After Three-Day Rally
Oil prices fell on Wednesday after rising in the previous three sessions, but it a limited loss on the view…
Asian Stocks Lose Bounce From Shorter China quarantine, Slip On Inflation Fears
Stocks fell across Asia on Wednesday morning, extending overnight losses on Wall Street amid concerns over recession, inflation and high…
Fuel Subsidy, Refinery Rehabilitation Gulped N1.3tn In Five Months – NNPC
The amount spent on petrol subsidy monthly has been depleting the revenues accruable to the Federation Account. Thus limiting the…
Afreximbank’s Payment Solution To Save Traders $5Bn
The African Export-Import Bank has created a payment solution platform, the Pan-African Payment and Settlement System. This is to facilitate…
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…
Elon Musk Hits Over 100 Million Followers On Twitter
Elon Musk just passed the 100 million follower mark on Twitter. This made him the sixth user on the platform…
U.S. FTC Sues Walmart For Allegedly Allowing Money Transfer Services For Fraud
The U.S. Federal Trade Commission it sued Walmart Inc (WMT.N), alleging the company had done too little to prevent scam…
Rouble Firms Past 52 Against Dollar For First Time Since May 2015
The rouble rallied past 52 against the dollar to a more than a seven-year high on Tuesday as capital controls.…
Dollar Falters As U.S. Yields Retreat Amid Recession Risks
The dollar slipped against most major peers as a decline in U.S. yields took some of the sheens off the…
S.Korea’s LGES Reviews $1.3 Bln Arizona Battery Investment As U.S. Inflation Bites
South Korean battery maker LG Energy Solution Ltd (LGES), a major supplier to U.S. carmakers, including Tesla (TSLA.O). They are…
Aeromexico Shareholders Back Mexico Stock Exchange Exit In Bankruptcy Restructuring
Aeromexico said on Tuesday that a majority of its shareholders approved a proposal to exit the main Mexican stock exchange.…
Tesla Closes An Office As Layoff Hits Autopilot Jobs, Including Hourly Ones
Tesla (TSLA.O) has shuttered its office in San Mateo, California, and laid off roughly 200 employees. Especially those working on…