Gold Prices Extend Decline Amid Strong U.S. Labor Data, Focus Shifts to CPI
Gold prices continued their descent in Asian trade on Monday, following losses from the previous session. The stronger-than-expected U.S. labor…
Month: January 2024
Boeing Shares Plunge in Frankfurt as FAA Orders Grounding of 737 MAX 9 Jets
Boeing faced a significant setback in the stock market as its shares listed in Frankfurt plummeted by up to 8%…
Japan Urges Swift MOU Signing for Sri Lanka’s Debt Restructuring Amidst Economic Crisis
Japan has reiterated the urgency of promptly finalizing the signing of a Memorandum of Understanding (MoU) between Sri Lanka and…
U.S. Healthcare Sector Shows Signs of Revival Amidst Cheap Valuations and Investor Interest
The U.S. healthcare sector is experiencing a resurgence, marked by a 6% climb in the S&P 500 healthcare sector since…
Dollar Gains Ground as Market Awaits U.S. Inflation Report
The U.S. dollar experienced a broad uptick on Monday, reflecting subdued risk appetite as investors awaited a crucial U.S. inflation…
Nvidia Plans Mass Production of AI Chip for China, Complying with U.S. Export Rules
U.S. chipmaker Nvidia is set to commence mass production in the second quarter of 2024 for an artificial intelligence (AI)…
Premium Smartphone Market Set to Reach Record Sales- Reports
The global premium smartphone market, featuring devices with a wholesale price of $600 or more, is projected to grow by…
Geopolitical Tensions, OPEC Output, and Saudi Price Cuts: Impact on Global Oil Markets
Recent developments in the global oil market have been marked by a complex interplay of factors, including geopolitical tensions in…
Challenges in Facility Maintenance for Healthcare and Tertiary Education in Nigeria- AFMPN
Facility maintenance in Nigeria’s healthcare and tertiary education sectors is facing significant challenges, according to Paul Erubami, the President of…
EAIF Pledges $30 Million Investment to AXIAN Energy’s Ambitious Renewable Energy Expansion in Africa
The Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), has committed a senior secured…
Nigeria Launches Automated Passport Application System
“”Nigeria is set to launch a highly anticipated reform with the automation of the passport application and issuance process starting…
IFC Boosts Cabo Verde’s Tourism Sector with €35.5 Million Financing for Oásis Atlântico
The International Finance Corporation (IFC) has unveiled a comprehensive financing package of up to €35.5 million to Oásis Atlântico, a…
IFC Partners with Facility for Energy Inclusion Fund to Drive Clean Energy Access in Africa
On December 22, 2023, the International Finance Corporation (IFC) announced a significant financing collaboration with the Facility for Energy Inclusion…
African Development Bank Leads USD 117 Million Financing for Menengai Geothermal Plant in Kenya
Financial close has been achieved for a USD 117 million financing deal, led by the African Development Bank (AfDB) as…
Renergen’s Helium Discovery in South Africa Unveils Billion-Dollar Potential
South African startup Renergen made an unexpected discovery of abnormally high concentrations of helium in grassy fields near Virginia, Free…
India and Nepal Officially Agree on 10,000 Megawatts Electricity Export Deal
India and Nepal have formalized a significant agreement for the export of 10,000 megawatts of electricity from Nepal to India…
ACP Urges Revision of U.S. Treasury Department’s Green Hydrogen Proposal
The Chief Executive Officer of the American Council on Renewable Energy (ACP), Jason Grumet, has issued a statement in response…
3 Million Bank Accounts at Risk: Deadline Approaches for BVN/NIN Linkage- CBN
“Millions of bank accounts face the risk of being blocked as the deadline approaches for linking them to either a…
Nigeria’s Public Debt to Surge to N95trn in Ten Years
“Nigeria’s public debt is set to see an over eightfold increase in the next decade, surging to about N95trn. Including…
Inflation Challenges Nigeria’s Economy: Affects Energy Costs and Others
Nigeria faced economic challenges in 2023, with a sharp rise in inflation to 28.9% and soaring energy costs. President Bola…
National Assembly Probe Crude Oil Theft, Raises Concerns
The National Assembly is once again investigating the persistent problem of crude oil theft, a challenge that has not been…
No Immediate Increase in Petrol Prices- NNPC
The Nigerian National Petroleum Company (NNPC) Limited has assured the public that there won’t be an immediate increase in the…
Nigerian Air Force Shifts Zonal Attitude Test to January 13
The Nigerian Air Force (NAF) has announced the postponement of its zonal attitude test for Trades and Non-Tradesmen/women to January…
ON FUEL PRICE: PETROAN Nears Partnership with Offshore Refineries
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) is in advanced talks with four offshore refineries to supply…
Price of Local Rice increases by 73.2% in one Year
The price of local rice in Nigeria has surged by 73.2% in one year, reaching between N55,000 and N60,000 for…
Naira Faces Decline, Closes Above N1,000/$: World Bank Urges Increased FX Supply for Stability
The naira, Nigeria’s currency, closed trading at N1035.12/$ on the official Investor and Exporter foreign exchange window, marking a 4.72%…
Obasanjo Warns of Debt Trap for Africa as Nigeria’s Public Debt Hits N87.91tn
Former President Olusegun Obasanjo has expressed concern that Nigeria and other African countries may face challenges in securing debt relief…
DVCF Oil & Gas Plc Sells TIP Shares Worth N10.131m
DVCF Oil & Gas Plc, a significant shareholder in waste management and industrial cleaning company has sold 9,468,900 units of…
“Nigerdock Partners with UNIDO, Boost Green Energy Adoption and Foreign Investments in Nigeria”
Nigerdock, the promoters of Snake Island Integrated Free Zone, have highlighted that their partnership with the United Nations Industrial Development…
Nigeria Stocks Hit Record High, Rising 1.68% in First Trading Session of 2024
In a bullish start to 2024, Nigerian stocks surged by 1.68% during the first trading session, setting a new all-time…