Business Gold Prices Extend Decline Amid Strong U.S. Labor Data, Focus Shifts to CPI January 8, 2024 Ekemini Gold prices continued their descent in Asian trade on Monday, following losses from the previous session. The stronger-than-expected U.S. labor data prompted a reevaluation of expectations for early interest rate…
Technology Boeing Shares Plunge in Frankfurt as FAA Orders Grounding of 737 MAX 9 Jets January 8, 2024 Ekemini Boeing faced a significant setback in the stock market as its shares listed in Frankfurt plummeted by up to 8% following the U.S. Federal Aviation Administration’s (FAA) directive to temporarily…
Business Japan Urges Swift MOU Signing for Sri Lanka’s Debt Restructuring Amidst Economic Crisis January 8, 2024 Ekemini Japan has reiterated the urgency of promptly finalizing the signing of a Memorandum of Understanding (MoU) between Sri Lanka and creditor nations to facilitate the debt restructuring process. This call…
Health U.S. Healthcare Sector Shows Signs of Revival Amidst Cheap Valuations and Investor Interest January 8, 2024 Ekemini The U.S. healthcare sector is experiencing a resurgence, marked by a 6% climb in the S&P 500 healthcare sector since the start of December. This outpaces the broader index during…
Business Currency Dollar Gains Ground as Market Awaits U.S. Inflation Report January 8, 2024 Ekemini The U.S. dollar experienced a broad uptick on Monday, reflecting subdued risk appetite as investors awaited a crucial U.S. inflation report later in the week. The report is expected to…
Business Nvidia Plans Mass Production of AI Chip for China, Complying with U.S. Export Rules January 8, 2024 Ekemini U.S. chipmaker Nvidia is set to commence mass production in the second quarter of 2024 for an artificial intelligence (AI) chip designed specifically for China. The H20 chip, developed to…
Local Premium Smartphone Market Set to Reach Record Sales- Reports January 8, 2024 Ekemini Uba The global premium smartphone market, featuring devices with a wholesale price of $600 or more, is projected to grow by six percent in 2023, setting a new sales record, as…
Business Geopolitical Tensions, OPEC Output, and Saudi Price Cuts: Impact on Global Oil Markets January 8, 2024 Ekemini Recent developments in the global oil market have been marked by a complex interplay of factors, including geopolitical tensions in the Middle East, increased OPEC output, and a significant move…
Local Challenges in Facility Maintenance for Healthcare and Tertiary Education in Nigeria- AFMPN January 8, 2024 Ekemini Uba Facility maintenance in Nigeria’s healthcare and tertiary education sectors is facing significant challenges, according to Paul Erubami, the President of the Association of Facilities Management Practitioners, Nigeria (AFMPN) and CEO…
Business EAIF Pledges $30 Million Investment to AXIAN Energy’s Ambitious Renewable Energy Expansion in Africa January 8, 2024 Ekemini The Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), has committed a senior secured loan facility of US$30 million to AXIAN Energy. This strategic…
Local Nigeria Launches Automated Passport Application System January 8, 2024 Ekemini Uba “”Nigeria is set to launch a highly anticipated reform with the automation of the passport application and issuance process starting today. The Minister of Interior, Olubunmi Tunji-Ojo, announced the commencement…
Business IFC Boosts Cabo Verde’s Tourism Sector with €35.5 Million Financing for Oásis Atlântico January 8, 2024 Ekemini The International Finance Corporation (IFC) has unveiled a comprehensive financing package of up to €35.5 million to Oásis Atlântico, a prominent hotel group in Cabo Verde. This strategic move is…
Business IFC Partners with Facility for Energy Inclusion Fund to Drive Clean Energy Access in Africa January 8, 2024 Ekemini On December 22, 2023, the International Finance Corporation (IFC) announced a significant financing collaboration with the Facility for Energy Inclusion (FEI), a pan-African fund dedicated to supporting small-scale decentralized renewable…
Business African Development Bank Leads USD 117 Million Financing for Menengai Geothermal Plant in Kenya January 8, 2024 Ekemini Financial close has been achieved for a USD 117 million financing deal, led by the African Development Bank (AfDB) as the mandated lead arranger (MLA), alongside partners Eastern and Southern…
Business Renergen’s Helium Discovery in South Africa Unveils Billion-Dollar Potential January 8, 2024 Ekemini South African startup Renergen made an unexpected discovery of abnormally high concentrations of helium in grassy fields near Virginia, Free State province, initially acquired for natural gas exploration. The helium…
Business India and Nepal Officially Agree on 10,000 Megawatts Electricity Export Deal January 8, 2024 Ekemini India and Nepal have formalized a significant agreement for the export of 10,000 megawatts of electricity from Nepal to India over the next decade. The announcement, initially made by Prime…
Business ACP Urges Revision of U.S. Treasury Department’s Green Hydrogen Proposal January 8, 2024 Ekemini The Chief Executive Officer of the American Council on Renewable Energy (ACP), Jason Grumet, has issued a statement in response to the U.S. Treasury Department’s guidance on clean energy investment…
Local 3 Million Bank Accounts at Risk: Deadline Approaches for BVN/NIN Linkage- CBN January 8, 2024 Ekemini Uba “Millions of bank accounts face the risk of being blocked as the deadline approaches for linking them to either a Bank Verification Number (BVN) or National Identity Number (NIN). The…
Local Nigeria’s Public Debt to Surge to N95trn in Ten Years January 8, 2024 Ekemini Uba “Nigeria’s public debt is set to see an over eightfold increase in the next decade, surging to about N95trn. Including a Central Bank loan approved for securitization by President Bola…
Local Inflation Challenges Nigeria’s Economy: Affects Energy Costs and Others January 4, 2024 Ekemini Uba Nigeria faced economic challenges in 2023, with a sharp rise in inflation to 28.9% and soaring energy costs. President Bola Tinubu’s fuel subsidy removal announcement in May led to a…
Local National Assembly Probe Crude Oil Theft, Raises Concerns January 4, 2024 Ekemini Uba The National Assembly is once again investigating the persistent problem of crude oil theft, a challenge that has not been effectively addressed in past probes. Despite promises from lawmakers, concerns…
Local No Immediate Increase in Petrol Prices- NNPC January 4, 2024 Ekemini Uba The Nigerian National Petroleum Company (NNPC) Limited has assured the public that there won’t be an immediate increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.…
Local Nigerian Air Force Shifts Zonal Attitude Test to January 13 January 4, 2024 Ekemini Uba The Nigerian Air Force (NAF) has announced the postponement of its zonal attitude test for Trades and Non-Tradesmen/women to January 13. Originally set for January 6, the test will now…
Local ON FUEL PRICE: PETROAN Nears Partnership with Offshore Refineries January 4, 2024 Ekemini Uba The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) is in advanced talks with four offshore refineries to supply 300,000 metric tons of petrol, diesel, Jet A1, and cooking…
Local Price of Local Rice increases by 73.2% in one Year January 4, 2024 Ekemini Uba The price of local rice in Nigeria has surged by 73.2% in one year, reaching between N55,000 and N60,000 for a 50kg bag. Despite efforts by the Central Bank of…
Local Naira Faces Decline, Closes Above N1,000/$: World Bank Urges Increased FX Supply for Stability January 4, 2024 Ekemini Uba The naira, Nigeria’s currency, closed trading at N1035.12/$ on the official Investor and Exporter foreign exchange window, marking a 4.72% decline from the previous day’s rate of N988.46/$. This is…
Local Obasanjo Warns of Debt Trap for Africa as Nigeria’s Public Debt Hits N87.91tn January 4, 2024 Ekemini Uba Former President Olusegun Obasanjo has expressed concern that Nigeria and other African countries may face challenges in securing debt relief due to their substantial debt profiles. He highlighted that the…
Local DVCF Oil & Gas Plc Sells TIP Shares Worth N10.131m January 4, 2024 Ekemini Uba DVCF Oil & Gas Plc, a significant shareholder in waste management and industrial cleaning company has sold 9,468,900 units of its shareholding, valued at about N10.131 million. The sale was…
Local “Nigerdock Partners with UNIDO, Boost Green Energy Adoption and Foreign Investments in Nigeria” January 4, 2024 Ekemini Uba Nigerdock, the promoters of Snake Island Integrated Free Zone, have highlighted that their partnership with the United Nations Industrial Development Organisation (UNIDO) aims to boost the adoption of green energy…
Local Nigeria Stocks Hit Record High, Rising 1.68% in First Trading Session of 2024 January 3, 2024 Ekemini In a bullish start to 2024, Nigerian stocks surged by 1.68% during the first trading session, setting a new all-time high at 76,031 points, as per LSEG data. This uptrend…
