Business Global Stock Markets Slip as Rate Cut Hopes Fade January 3, 2024 Ekemini Global stock markets continued their decline into the new year, with the MSCI’s broad index of world equities falling by 0.2%, following a 0.8% drop on Tuesday. The weakened market…
Business S&P, Nasdaq Start 2024 on a Lower Note as Tech Giants Struggle January 3, 2024 Ekemini The first trading session of 2024 witnessed a downturn in the S&P 500 and Nasdaq Composite, driven by a decline in Apple shares following a broker downgrade and increased Treasury…
Technology Hyundai and Kia Project 2% Sales Growth in 2024 Despite 2023 Challenges January 3, 2024 Ekemini South Korean automakers Hyundai Motor and Kia Corp anticipate a modest 2% increase in their combined global sales for 2024. This projection follows a challenging 2023 where the duo fell…
Business Global Funds Accelerate China Equity Sell-Off in December, Marking Worst Month of 2023 January 3, 2024 Ekemini Global long-only funds rapidly divested from China equities in December 2023, recording the highest monthly outflow of the year. This move, driven by redemption requests and a desire to reduce…
Maritime Global Shipping Giants Redirect Routes Amid Rising Red Sea Tensions January 3, 2024 Ekemini In a recent turn of events, major shipping companies, including Denmark’s Maersk and Germany’s Hapag-Lloyd, are altering their cargo routes to avoid the Red Sea. This strategic shift comes in…
Business Navigating 2024: Investors Brace for Economic Shifts” January 3, 2024 Ekemini As we step into 2024, global investors are anticipating a significant shift in the economic landscape, marked by transitions in central bank policies. Recent market rallies, fueled by expectations of…
Market Global Markets Extend Slide as Rate Cut Hopes Diminish January 3, 2024 Ekemini Global stock markets faced a continued decline at the start of 2024, with investor optimism regarding early U.S. interest rate cuts waning. The dollar remained strong, and escalating tensions in…
Business China’s Major Banks Heighten Scrutiny and Restrict Interbank Lending Amid Property Debt Crisis January 3, 2024 Ekemini In response to the deepening property debt crisis in China, major banks in the country are intensifying their examination of smaller financial institutions. Concerns over credit risk have prompted two…
Technology Russian Bailiffs Remove Debts of Tech Giants Google, Meta, and TikTok – Resolving Legal Disputes January 3, 2024 Ekemini In a recent development, Alphabet’s Google, Meta, and TikTok have seemingly resolved legal issues in Russia as their fines, imposed by Russian courts, no longer appear in the state bailiffs’…
Business Futures Dip as Investors Anticipate Fed Minutes, Tesla’s China-made EV Sales Surge January 3, 2024 Ekemini U.S. stock futures are trending lower as investors react to the Federal Reserve’s upcoming release of minutes from its December policy meeting. The first trading day of 2024 witnessed a…
Africa Banking Business Currency Features Finance Finance Investing Local Market Trade Manufacturers Lament over FGN’s 7BN Debt January 3, 2024 Ekemini Uba The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in the first six months. They express concern about the sector’s challenges, emphasizing the need…
Africa Business Currency Finance Local Market Trade Nigerians Express Disappointment on Transportation Cost Despite FGN’s Directives January 3, 2024 Ekemini Uba Despite the Federal Government’s initiative to provide a 50% fare rebate from December 21 to January 4, 2024, passengers are expressing disappointment as the anticipated relief in transportation costs has…
Advertisement Africa Agriculture Banking Business Commodities Currency Features Local Market Trade NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre January 3, 2024 Ekemini Uba Tensions have risen between the Nigerian National Petroleum Company Limited (NNPC) and fuel marketers, represented by the Independent Petroleum Marketers Association of Nigeria, due to the ongoing debate on the…
Africa Banking Business Features Finance Local Market Nigeria’s External Reserve Declines by $77m- CBN January 3, 2024 Ekemini Uba In December 2023, Africa’s largest economy, Nigeria, witnessed a decline in its external reserves, dropping by approximately $77.23 million or 0.23%. According to data from the Central Bank of Nigeria,…
Business Finance Local Trade Nigeria Borrows $1.71 Billion: Impact on Exchange Rates January 3, 2024 Ekemini Uba In the first nine months of 2023, Nigeria secured $1.71 billion in foreign loans to enhance the country’s foreign exchange inflow. According to data from the National Bureau of Statistics,…
Local NAFDAC Reduces Licencing Fees to N44, 200 January 3, 2024 Ekemini Uba The National Agency for Food and Drug Administration and Control (NAFDAC) has announced a significant reduction in processing fees for the renewal of registration of locally manufactured products. The Director-General,…
Business Changes in U.S. Electric Vehicle (EV) Tax Credits Impact Multiple Models January 2, 2024 Ekemini The landscape of electric vehicle (EV) tax credits in the United States underwent a significant shift as new battery sourcing rules came into effect on January 1. The U.S. Treasury…
Business Euro Zone Likely Entered Recession in 2023 as Factory Activity Contracts January 2, 2024 Ekemini Euro zone factories concluded 2023 with a contraction in activity for the 18th consecutive month, signaling a challenging economic environment and a possible recession. The Hamburg Commercial Bank’s Purchasing Managers’…
Local SON Intensifies Fight Against Substandard Goods: A Commitment to Quality January 2, 2024 Ekemini Uba The Standards Organisation of Nigeria (SON) is ramping up efforts in the battle against fake and substandard goods across the country. Dr. Ifeanyi Okeke, the Director General of SON, expressed…
Local Pledge to Boost Agriculture and Trade for Economic Growth- Ekiti State’s Gov. January 2, 2024 Ekemini Uba In a New Year statewide broadcast, Ekiti State Governor, Mr. Biodun Oyebanji, affirmed his administration’s commitment to partnering with the Federal Government to enhance agriculture and trade, driving economic growth…
Local Niger State Governor Seals TGI’s Partnership Over Food Security January 2, 2024 Ekemini Uba In a significant move to bolster food security and stimulate economic growth, Governor Mohammed Umaru Bago of Niger State has finalized a Framework Agreement forged between the state-owned Niger Food…
Local Assessing Nigeria’s Economic Performance in 2023: A Year of Challenges and Reforms January 2, 2024 Ekemini Uba The Nigerian economy faced a challenging year in 2023, marked by a notable decline compared to the previous year. The impact rippled into the banking sector, influenced by policy changes…
Local Bitcoin Surges Above $45,000 in New Year Rally January 2, 2024 Ekemini Uba Bitcoin made a strong start to the New Year by surpassing $45,000 on Tuesday, marking its highest point since April 2022. The surge is attributed to optimism surrounding the potential…
Local BYD Produced 3 Million New Energy Vehicles in 2023, Challenging Tesla’s Dominance January 2, 2024 Ekemini Uba Chinese electric car giant BYD announced on Monday that it produced over 3 million new energy vehicles in 2023, setting the stage to outpace Tesla’s production for a second consecutive…
Local Tensions in Red Sea Elevate Oil Prices in Iran January 2, 2024 Ekemini Uba Oil prices surged on Tuesday as Iran deployed a warship to the Red Sea amidst ongoing tensions in this crucial global shipping route, where Yemen’s Houthi rebels have targeted vessels.…
Local Global Regulatory Landscape for Cryptocurrencies in 2023 January 2, 2024 Ekemini Uba In 2023, regulators worldwide, including those in Europe and Asia, intensified their efforts to establish formal laws governing digital currencies. However, the United States stood out by taking some of…
Local “Tough Time Never Last”- Tinubu Addresses Nigeria’s Socio-economic Issues January 2, 2024 Ekemini Uba During the New Year address delivered by the president, Bola Ahmed Tinubu, he identified six socio-economic challenges in Nigeria, reassuring the public of his commitment to resolving them. He added:…
Local Dangote Refinery Recieves Fourth Supply of Crude Oil January 2, 2024 Ekemini Uba To enhance the commencement of Dangote Petroleum Refinery and petrochemicals, NNPC supplied one million barrels of crude to the refinery. According to the information gathered from Dangote Refinery, “the fresh…
Technology Climate Tech: A Beacon of Job Opportunities in 2024 January 2, 2024 Ekemini The year 2023 witnessed a wave of layoffs across the tech sector, leaving over 240,000 professionals jobless. However, amidst this downturn, one sector emerged as a beacon of hope —…
Local President Tinubu Signs N28.78 Trillion Budget: Charting Priorities for 2024 January 2, 2024 Ekemini Uba On January 1, 2024, President Bola Tinubu signed the N28.78 trillion budget for the year, marking a pivotal moment in Nigeria’s fiscal trajectory. The President, in his New Year’s message,…
