Manufacturers Reduce Investment By 61%, Borrowing Cost Hits 22%
Nigerian manufacturers reduced their investments in the economy by 61% between 2018 and 2021. This from economic reviews of the…
Year: 2022
Russian Rouble Firms To 7-Year High Past 53 Vs Dollar In Moscow Trade.
The rouble jumped on Wednesday to its strongest mark in seven years against the dollar and euro. Supported by capital…
Bauchi Uncovers 6,418 Ghost Workers, Saves N1bn Monthly- Nigeria.
Bauchi State government says that it has removed no fewer than 6,418 ghost workers from its payroll. Since the inception…
Debt Servicing Doubles, Hits N896bn In Three Months– Report
Nigeria’s debt servicing bill has increased by 109% to N896.56bn, findings. As a result, the country has also spent N3.83tn…
MarketAxess, Tradeweb And Bloomberg Plan Joint EU Bond Price Feed.
MarketAxess, Tradeweb and Bloomberg said o they were exploring a single price feed for corporate and government bond. The EU…
UK Inflation Hits 40-Year Record, Highest In G7
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month. The highest rate out…
Rolls Royce Offers Cash To Workers Facing High Cost Of Living.
About 70% of the UK employees will get 2,000 pounds($2,458) from British aviation engine manufacturer Rolls-Royce Holdings. To help them…
Nigerian Airlines, Others To Lose $700m In 2022 – IATA
The International Air Transport Association (IATA) has said that Nigerian airlines and others across Africa will lose $700 million. This…
Prestige Assurance Sees N10.5bn Gross Premium In Q3’22- Nigeria.
Prestige Assurance Plc. has projected to achieve N10.500 billion gross premium written for the third quarter ending September 2022. The…
French Spirits Industry Sees Inflation Giving 2022 Bitter Taste
The French spirits industry faces a tough year due to geopolitical constraints, soaring inflation, and COVID-19 restrictions in China. After-sales…
Global Luxury Outlook Still strong, Sales To Grow At Least 5% This Year -Consultancy
Sales of luxury goods will rise at least 5% this year as shoppers in the United States and Europe continue…
Anticipating U.S. Downturn, Elon Musk Details Tesla Staff Cuts
Elon Musk, CEO of Tesla (TSLA.O) says a 10% cut in salaried staff at the electric car maker will happen…
Cost Of 12.5kg Cooking Gas Hits N9,400 In May 2022, Highest In 3 Years
The cost of purchasing a 12.5kg cylinder of household cooking gas in Nigeria has increased from N7,000 in September 2021…
AIICO Insurance Declares Dividend Of 2 Kobo Per Share For Year Ended December 2021
AIICO Insurance Plc has declared a dividend of 2 kobos per share amounting to N732 million. This is regarding and…
U.S. Chamber Of Commerce, Others Warn of Impracticalities In EU Subsidy Plan
European Union legislation targeting foreign state-backed buyers of European companies was prompted by fears of a Chinese buying spree. This…
Stocks Squeeze Out Slim Gains, Dollar Climbs As Inflation Soars
European stocks made slim gains on Wednesday, with the dollar strengthening as investors fretted over soaring inflation. And also the…
Wema Bank Assures Customers Of Data Confidentiality- Nigeria.
Wema Bank has said that it will ensure data confidentiality of its customers. The bank said, “We implore members of…
DisCos Revenue Surges By 47% To Hit N757bn – Report
Revenue collection by the 11 distribution companies increased by 47% to N757bn in 2021. The Association of Nigerian Electricity Distributors’…
South Africa Extends Fuel Subsidies To August 2022.
To ease the increased oil costs as a result of Russia’s conflict with Ukraine, South Africa wants to extend its…
Cardano Is Now 6th Most Valuable Crypto Following Vasil Hard Fork.
Cardano has also seen gains in the last seven days, with its price rising by 14%. As a result of…
German Retail Sales Drop In April As Food Prices Bite.
German retail sales fell by more than expected in April as consumers feel the pinch of higher prices. Especially for…
Rising Inflation, Others Threaten Buhari’s Poverty Reduction Scheme –World Bank economists
World Bank economists, Jonathan Lain and Jakob Engel, have said that rising inflation, persistent population growth, the COVID-19 pandemic, and…
CBN Raises Online Transfer Limit To N25 Million And N250million For Individuals And Companies Respectively.
The Central Bank of Nigeria (CBN) has raised the limit for ‘Highly Secured Online Funds Transfer’. This begins from N100…
Bitcoin Miners Now Selling Their Holdings As Bearish Market Persists.
It looks like the bearish market is hitting all sectors of the cryptocurrency space. Including those that are charged with…
Walmart To Add 4,000 Jobs With Four New U.S. Fulfillment Centers.
Walmart Inc announced plans to open four new fulfillment centers in the United States over the next two years. Creating…
Ripple Aims To Acquire Additional Projects Despite Crypto Winter.
Ripple CEO, Brad Garlinghouse said the San Francisco-based payments company will explore acquiring additional crypto ventures in the future. The…
Japan Passes Stablecoin Bill Focused On Investor Protection
A Northeast Asian country, Japan, becomes one of the first major economies to introduce a legal framework surrounding stablecoins. This…
Venture Capital Crypto Investments Decline By 38% In May 2022.
Due to the bear run the cryptocurrency space has been experiencing throughout the year, not only are retailers losing money.…
Nigeria’s Foreign Trade Rises To N13 Trillion In Q1 2022
Nigeria’s foreign trade rose to N13 trillion in the Q1 of 2022, increasing by 11.1% from N11.7 trillion recorded in…
Asia Shares Lifted By U.S. Futures, Oil Climbs
Asian shares joined U.S. stock futures in making cautious gains on Monday ahead of U.S. inflation data this week. While…