Nigerian Stocks Lose Over N85 Billion In A Day
The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 31…
Year: 2022
S.Korea Export Growth Seen Rebounding In May; Inflation Tops 5%
South Korean export growth is expected to have rebounded in May, but the trade balance likely remained in red, while…
UBA Rewards Customers With N16.6m In Promo
Africa’s Global Bank, the United Bank for Africa Plc, has rewarded its loyal customers in its UBA Super Savers draw…
Corporate Trustees Give Safety Tips On Investments.
The Association of Corporate Trustees has said that trustees play a relevant role in; ensuring capital market investment protection in…
Teetering On Default, Russia Misses $1.9 Mln Payment, Committee Determines.
Russia’s failure to pay $1.9million in accrued interest on a dollar bond will trigger payouts potentially worth billions of dollars.…
Electricity Tariff Surge By 58% After N500bn Subsidy Suspension –Report
Findings have shown that electricity tariffs increased by 58% after the Federal Government yanked off a yearly subsidy of N500bn…
Britons Seek Cheaper Grocery Options As Inflation Bites – NielsenIQ
Britons are shifting to cheaper food alternatives in their supermarket shopping as they try to navigate a worsening cost of…
In Historic Shift, Toshiba Board Gains Two Directors From Activist Hedge Funds.
Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on…
Nissan Shareholders Reject Proposal To Designate Renault As Parent.
Japan’s Nissan Motor Co Ltd (7201.T) on Tuesday rejected a shareholder proposal at its annual general meeting (AGM) that would…
Stocks Swing Higher As China Eases Quarantine Rules.
Asian shares swung into positive territory in afternoon trade, propelled by China’s decision to ease some quarantine requirements for international…
China Vows Timely Policy Measures To Cope With Economic Risks.
China will roll out tools in its policy reserve in a timely way to cope with more economic challenges; as…
Ericsson’s $6.2 Bln Vonage Takeover Delayed Over U.S. Review
Ericsson (ERICb.ST) said the closing of its $6.2 billion Vonage acquisition was delayed to the end of July. From the…
Elevator Maker Kone Divests Russia Business.
Finnish elevator maker Kone (KNEBV.HE) said it will sell its business in Russia to local management for an undisclosed amount.…
Column: Hedge Funds Turn Tail As Commodities Crumble On Recession Rumble: McGeever
Buy and hold, maximum long. That has basically been the strategy for commodity hedge funds for the last couple of…
Boost For Luxury London Property Prices As Russians Locked In.
The war in Ukraine is making it hard for even unsanctioned Russians to sell exclusive residential property in Britain. Adding…
Nigeria’s PZ Cussons Fights Off Inflation To Post 277% Rise In Profits.
Leading conglomerate, PZ Cussons Nig Plc, released its Q4 2021/22 unaudited results for the period ended May 31, 2022. Reporting…
Fuel Scarcity: FG To Sanction Fuel Stations Selling Fuel Above N165.
The Nigerian Government has decided to clamp down on filling stations selling Premium Motor Spirit (PMS); above the N165 agreed…
Investors In MTN Public Offer Gain N35 Billion In 6 Months
Investors in MTN’s Public Offer for Sale conducted in December 2021 have gained an estimated N35 billion; since the offer…
FG spends N1.243tn Monthly As Fuel Subsidy Hits N600/Litre – Operators
The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit; popularly called petrol, consumed…
DisCos’Payment To GenCos Drops By 50%, Consumers Kick.
Electricity distribution companies’ payment to generation companies for electricity generation has dropped by 50%; according to industry data obtained by…
Firm Invests N24bn In Edo Integrated Farm
Saro Group of Companies has invested not less than N24bn in an integrated farm in Edo State; in a concerted…
Electric Automakers Make Last-Ditch Plea For More Tax Credits Before U.S. Election
Shifting political winds during the U.S. November mid-term elections could spell trouble for automakers’ hopes of getting billions of dollars…
Nigeria’s Bitcoin P2P Surge By 25% In 180 Days Amid Falling Naira
Despite government rules limiting crypto trades within financial institutions to protect citizens and monitor the technology’s growth. Many Nigerians have…
Naira Falls At Official Market Despite Slight Improvement In FX Supply
The exchange rate between the naira and the US dollar closed at N420.25/$1 at the Investors and Exporters (I&E) window.…
Wema Bank Launches Innovation Challenge For Kids
Wema Bank Plc has unveiled its Kids’ innovation challenge aimed at encouraging children. This, however, It teaches them to ideate…
Saudi, OPEC May Make Up Or Russian Oil Output Loss As Biden visit looms
Saudi Arabia and other OPEC states may boost oil production to offset a drop in Russian output. A move that…
FUGAZ Investors Gain N39 Billion Combined During The Week
The market capitalization of the top five banks, referred to as the Tier-1 banks or FUGAZ, appreciated by 1.77% to…
Credit Suisse Faces Verdict In Cocaine-Cash Trial
Swiss judges will rule on Monday whether Credit Suisse (CSGN.S) failed to prevent money laundering. Which linked to an alleged…
Analysis: Food Export Bans, From India To Argentina, Risk Fueling Inflation.
It only took 24 hours last month for Prime Minister Narendra Modi’s government in India. The world’s second-largest producer of…
Banking Body Urges Decisive Wave Of Global Rate Hikes To Stem Inflation.
The world’s central bank umbrella body, the Bank for International Settlements (BIS), has bawl for interest rates to be uplift;…