Nest Egg No More: Inflation Eats Canadian Consumer Cash Pile, Risking Growth
An extra C$8,300 ($6,600) in your pocket. That is roughly how much the average Canadian saved during the pandemic. The…
Year: 2022
Despite Negative Yield, Investors Oversubscribe CBN’s June 2022 T-Bills By 527%
Nigeria’s high inflation rate has permitted a negative yield in the fixed income market. A whopping 527% oversubscribed the Central…
FG, NEXIM Sign $40m Women In Oil Sector Fund
The Federal Government and the Nigerian Export-Import Bank have signed a $40m intervention fund for women in the oil and…
Crypto Industry Gripped By Anxiety As Bitcoin Wobbles Near Key $20,000 Level
The cryptocurrency industry is on edge, as investors feared contagion from problems at major crypto players could unleash a major…
Global Markets Quake As Central Banks Grow More Hawkish
Expectations for how drastically central banks need to tighten monetary policy to fight soaring inflation have taken another leap higher.…
Euro Rises Despite French Election As Dollar Retreats
Euro rose on Monday despite French President Emmanuel Macron losing an absolute majority in the country’s parliamentary election. As the…
Top Three Aussie Miners To Shed $11Bn In Market Value As Commodity Rout Accelerates
Australia’s big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value. As…
China’s Oil Imports In May From Russia Soar To A Record, Surpassing Top Supplier Saudi
China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi…
Indian Shares Flat As Metals Counter Gains In Consumer Stocks
Indian shares were little changed on Monday, with gains in consumer stocks offset by losses in metals, while global prices…
Danone Trims Product Range As Shoppers Balk At High Prices
French food giant Danone (DANO.PA) is cutting the variety of products it sells to retailers to reduce costs. However,This means…
Babel Finance Suspends Withdrawals As Crypto Markets Slump
Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemptions of crypto assets on Friday. As the crypto lender scrambles…
Lagos Businesses Spend N5.3Trillion On Fossil Fuel Annually
Lagos State residents and businesses operating in the state spend about N5.3 trillion annually on fossil fuel because of the…
Inflation Will Push 15 million Nigerians Into Poverty In Two Years.
The World Bank projects an inflation shock to push about 15 million more Nigerians into poverty between 2020 and 2022.The…
Nigerian Export Promotion Council (NEPC) Eyes 40% Increase In Exports Through Trade Houses
With the launch of trade houses in Egypt and Togo, NEPC, is targeting a 40% increase in the country’s exports.…
Central Bank Of Nigeria’s Intervention Funds Fuelling Inflation, World Bank Warns Nigeria
The World Bank says the Central Bank of Nigeria’s development finance intervention is fuelling inflation in the short term. Which…
Federal Government Of Nigeria’s Spending On Pension, Gratuity Falls To N356bn
The Federal Government’s expenditure on pensions and gratuity fell slightly by N3.48bn in 2021. This is according to figures obtained…
Asia Shares Slip, Hard To Dodge Recession Risks
Asian shares slipped on Monday and Wall Street futures eked out slight gains amid worries the U.S. Federal Reserve would…
Credit Suisse Rejects $515 Million Claim Linked To Fraudulent Adviser
Credit Suisse (CSGN.S) on Sunday rejected a claim by Russian businessman Vitaly Malkin for 500 million francs ($515.62 million). Which…
Nigerian Banks Maintained Stability Despite COVID-19 Challenges–NDIC
At the 2022 stakeholders’ retreat of the Senate Committee on Banking, Insurance, and Other Financial Institutions with the Nigeria Deposit…
Nigeria’s Economy Gaining Strength… But Inflation Will Remain High – IMF
Despite Nigeria’s steady economic recovery, inflation, according to the International Monetary Fund (IMF), would stay high. The Washington-based institution said…
Elon Musk Sued For $258bn Over Dogecoin Support
An investor in dogecoin, a cryptocurrency that began as a joke but grew in value championed by Elon Musk, filed…
Fuel Queues Return To Abuja, Motorists Flay NNPC, FG
Fuel queues returned to Abuja as motorists spent hours at filling stations waiting to buy the Premium Motor Spirit. This…
Stocks Rise As Investors Await U.S. Jobs Data For Fed Cues
Asian shares were mostly higher on Friday as investors hoped U.S. jobs data due later might sway the Federal Reserve.…
EXCLUSIVE China Firms In Advanced Talks With Qatar For Gas Field Stakes, LNG Offtake.
China’s national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the…
Inflation Surges Again, Hits 17.71% Amid Rising Prices.
Nigeria’s inflation rate has again surged to 17.71%, according to latest figures by the National Bureau of Statistics. In May…
72 Of The Top 100 Cryptos By Market Capitalization Have Fallen 90% Or More.
The current bear market has seen a whopping 72 out of top-100 tokens by market capitalization fall. More than 90%…
Factbox: Companies Sell Their Businesses In Russia
Some Western companies have agreed to sell their Russian assets or hand them over to local managers. As they scramble…
Analysis: With Record Pump Prices, Biden Hard-Pressed To Ramp Up Russia Sanctions
The American consumer presents a significant obstacle as the Biden administration considers escalating sanctions against Russia. This is in response…
Nigerians Spent N3.25tn On Airtime, Data, Others In 2021 – NCC
Nigeria spent N3.25tn on airtime, data, and other telecommunication services in 2021, according to the Nigerian Communications Commission. This is…
Google’s Russian Subsidiary Submits Bankruptcy Declaration – Ifax
The Russian subsidiary of Alphabet’s (GOOGL.O) Google has submitted a declaration of bankruptcy, Interfax. The Russian authorities’ seizure of Google…