Real Time Financial News Website
Airbus has inaugurated a new automated A321XLR aircraft equipment installation hangar in Hamburg, a move aimed at modernizing and digitizing its industrial processes while expanding ramp-up capacity for the A320…
Shell considered shutting down its Prelude liquefied natural gas (LNG) facility in Australia for a year to address persistent operational issues but chose a shorter maintenance period to capitalize on…
Policymakers in Tokyo are concerned that China’s ongoing economic challenges could negatively impact Japan’s tenuous recovery. This risk is particularly acute if China fails to stimulate demand effectively. Japan’s export-dependent…
U.N. Secretary-General António Guterres has cautioned about the risk of a “great fracture” in the world’s economic and financial systems. Speaking at a summit with ASEAN, China, the U.S., and…
Bank-owned stockbrokers and investment banks, supported by alternative revenue streams, have outperformed standalone rivals in terms of profits. SBG Securities, owned by Stanbic Bank Kenya, NCBA Capital, Equity Investment Bank,…
KCB Group, a major financial institution, is planning to inject $100 million (approximately Sh14.5 billion) into KCB Bank Kenya. This move aims to recapitalize the subsidiary, which has faced pressure…
MetaMask, the largest self-custodial internet-connected wallet with over 22 million users, has introduced a cash-out feature that enables users to convert cryptocurrencies into fiat currencies like USD. Initially, this feature…
500 Global, a venture firm and seed accelerator, has successfully closed a $143 million financing round for its biggest Southeast Asia early-stage fund to date, named 500 SEA III. It’s…
Steve Hill, the Executive Vice President at Shell, acknowledged a significant but still historically high reduction in liquefied natural gas (LNG) prices worldwide. While market sentiment has improved over the…
Nigerian President Bola Tinubu has garnered pledges of nearly $14 billion from Indian investors, signaling a growing economic cooperation between the two nations. Among the commitments are $3 billion from…
The G20, a grouping of major world economies, has reportedly agreed to grant permanent membership to the African Union, according to sources. This decision elevates the African Union, which comprises…
The Nigerian Minister of Housing and Urban Development, Mr. Ahmed Musa Dangiwa, has affirmed his commitment to collaborating with stakeholders and the National Assembly to comprehensively review and amend the…
The Nigerian Postal Service (NIPOST) has introduced a commemorative stamp valued at N255 to mark the launch of the Pan African Postal Union (PAPU) Tower in Arusha, Tanzania. This initiative…
The Federal Government of Nigeria has announced a rise in the prices of single-phase and three-phase pre-paid electricity meters, effective from September 6, 2023. A single-phase meter will now cost…
The Presidential Election Petition Tribunal has validated Bola Tinubu’s victory in Nigeria’s February election, dismissing the petitions filed by Atiku Abubakar and Peter Obi. The court held that the allegations…
During the Africa Climate Summit held in Kenya, President Bola Tinubu emphasized the need for an annual investment of $10 billion to execute Nigeria’s ambitious Energy Transition Plan. Additionally, he…
Confusion and panic gripped the international wing of Murtala Muhammed Airport following a fire outbreak in one of the airport’s sections. The fire is reported to have originated from a…
PZ Cussons, the soap maker, has announced its intention to acquire the remaining 26.73% stake held by minority shareholders in PZ Cussons Nigeria (PZCN). The company seeks to delist PZCN…
1. Funding for IT Software Automation: Josys, a startup specializing in software-as-a-service (SaaS) solutions for automating corporate IT software application management, has secured $93 million in a Series B funding…
E-commerce financing provider Wayflyer has successfully secured $1 billion in capital from investment management firm Neuberger Berman. This funding is designed as an “off-balance sheet program,” allowing Wayflyer to retain…
The International Monetary Fund (IMF) has advised South Korea to retain its current restrictive monetary and fiscal policies to address inflation and work towards achieving sustainable finances. The IMF stated…
The G7 and its allies have halted their regular reviews of the Russian oil price cap scheme, despite Russian crude prices trading above the set limit due to a global…
Nigeria’s presidential election tribunal is set to announce its decision on Wednesday regarding Bola Tinubu’s continued presidency, which was challenged by two opponents following the disputed February election. Previous Nigerian…
The President of the African Development Bank, Akinwunmi Adesina, has announced that the institution is committing to provide $25 billion in climate finance by 2050 as part of its efforts…
The COP28 President-Designate, Dr. Sultan Al Jaber, has unveiled a new initiative from the United Arab Emirates (UAE) that will provide $4.5 billion to support Africa’s clean energy potential. This…
Nigeria currently holds approximately $8.25 billion in undisbursed loans from the World Bank as of July 2023, according to data retrieved by The PUNCH from the World Bank’s Summary Statement…
According to the August edition of FMDQ Spotlight, the FMDQ (FMDQ Securities Exchange) reported an outstanding turnover of N22.98 trillion (equivalent to $44 billion) in the period spanning January to…
Oil prices saw marginal gains, with Brent crude November futures rising by 3 cents to reach $88.58 a barrel, while US West Texas Intermediate crude (WTI) October futures increased by…
In August 2023, Nigeria’s external reserves saw a slight increase of $1.87 million, attributed to the Central Bank of Nigeria’s (CBN) efforts to stabilize the foreign exchange market. The month…
The Ministry of Budget and Economic Planning has revealed plans to present the 2024 budget to the House of Assembly before October concludes. This announcement was made during a training…