Real Time Financial News Website
Step into the world of generative AI as Nvidia’s Q2 earnings soar beyond expectations, unveiling a gold mine in the AI landscape. With a revenue of $13.51 billion, Nvidia has…
A court verdict exposes an 18-year-old from Oxford as a vital cog in a global cyber-crime syndicate responsible for a trail of havoc across major tech giants. Dive into the…
Efforts to curb the prevalence of illegal mining operations in Rwanda are intensifying as local government leaders respond to a directive from the Rwanda Mines, Petroleum and Gas Board (RMB)…
KCB Group, one of East Africa’s leading financial institutions, has reported a 20% drop in net profit for the first half of 2023, citing factors such as staff restructuring costs…
Safaricom, the telecommunications giant, has achieved a milestone by surpassing five million subscribers in its Ethiopian subsidiary within less than a year since entering the competitive Ethiopian market. The company’s…
The Association of Bureau De Change Operators of Nigeria (ABCON) is confident that the Nigerian economy will benefit from increased diaspora remittances once the Central Bank of Nigeria (CBN) fully…
The Central Bank of Nigeria (CBN) has responded to a recent financial estimate of its accounts by JP Morgan, stating that the estimate is “out of context.” The CBN reassured…
An aggrieved shareholder of FBN Holdings has filed an application in a Federal High Court in Lagos, seeking to set aside an interim court order issued on July 29. The…
Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN), is reportedly pursuing a plea bargain in his alleged N6.69 billion fraud case. Emefiele is facing trial for…
The Nigerian Exchange Limited (NGX) has revealed plans to allow companies to list bonds denominated in dollars on the stock exchange, with the potential to extend this to stocks as…
Investors in Nigeria’s equities market are exhibiting reduced interest in banking stocks as they await the half-year financial results of tier-1 lenders. The ongoing selling pressure on banking and oil…
Marble Capital Limited, a prominent ethical and Islamic Fund Manager in the Nigerian financial market, has launched the Marble Halal Fixed Income Fund (MHFIF) worth N500 million. This offering provides…
LemFi, a prominent fintech company specializing in international payments, has officially launched its services in the United States. Leveraging its success as a licensed International Money Transfer Operator through its…
Sam Bankman-Fried, the founder of the now-collapsed cryptocurrency exchange FTX, is reportedly facing difficulties in preparing for his upcoming fraud trial due to inadequate food supplies in prison, according to…
Equinor, a leading energy company from Norway, has achieved a groundbreaking feat by unveiling the world’s largest floating wind power installation, boasting an impressive capacity of 88 MW. The Hywind…
An analysis of financial reports from three major state-owned oil and gas companies in Africa has revealed combined earnings of $27.95 billion in 2023, driven by rising crude oil prices.…
Insurance companies have informed ship charterers operating in Russia’s Black Sea ports of a significant increase in “war risk premiums,” reflecting heightened tensions in the region. This premium, which was…
The recent surge in U.S. bond yields has been accompanied by subdued inflation expectations, suggesting that economic resilience and increased bond supply are now playing a larger role than speculation…
As of August 22, 2023, Nigeria’s Excess Crude Account (ECA) holds a balance of $473,754.57. The Federation Account Allocation Committee (FAAC) meeting, chaired by Minister of Finance Wale Edun, emphasized…
The African Union (AU) Commission has imposed sanctions by suspending Niger Republic from the organization due to the recent military coup that ousted democratically elected President Mohamed Bazoum. The suspension…
Former Nigerian Petroleum Minister, Mrs. Diezani Alison-Madueke, is set to stand trial in the United Kingdom on a new bribery allegation dating back to her tenure as Minister of Petroleum.…
Nigeria’s newly appointed Minister of Power, Chief Adebayo Adelabu, has taken office with a focus on addressing the country’s longstanding power sector issues. Adelabu highlighted key priorities for his tenure,…
The Federal Government of Nigeria has reportedly renewed agreements with operators of leased port terminals, disregarding their outstanding debts and violations of terms. The port concession/lease agreements, initiated in 2006,…
In July, the Federation Account Allocation Committee (FAAC) distributed a total of N966.11 billion to the Federal, State, and local governments, out of a gross revenue of N1.74 trillion. This…
According to the X-Compliance Report, a transparency initiative by The Nigerian Exchange Limited (NGX), over 20 listed companies paid a total of N87.32 million in penalties to NGX Regulation Limited…
The Nigerian naira experienced depreciation to N910 to a dollar on the parallel market, compared to N850 on the previous day. On the official Investors and Exporters’ (I&E) FX window,…
The Nigerian equities market started on a positive note as it reopened, with gains recorded in BuaFoods, Stanbic IBTC, and 29 other stocks. The market capitalization of listed equities increased…
The Competition Authority of Kenya (CA) has granted regulatory approval to Moniepoint Inc. for its acquisition of Kopo Kopo, a Kenyan company that offers payment services and credit to businesses.…
Goldman Sachs is considering the sale of a portion of its wealth management business, signaling a shift in its strategy towards focusing on serving ultra-high net worth individuals and moving…
The U.S. dollar has eased from its recent 10-week highs as global risk appetite rebounded following a jump in U.S. government bond yields and concerns about the weakening Chinese economy.…