Real Time Financial News Website
Uganda has recently finalized a deal with the Islamic Development Bank (IDB) in Saudi Arabia, obtaining a loan of $295 million. The loan aims to support various projects, notably road…
Elon Musk, the CEO of Tesla, has removed two senior executives from their positions and intends to lay off hundreds more employees, citing frustration over declining sales and the slow…
HSBC, a global banking giant, announced the retirement of its Chief Executive, Noel Quinn, after five years of leading the company through significant changes. Quinn, known for his decisive actions,…
Despite the challenges, Mercedes-Benz expects improved sales volumes in the second quarter, with a focus on defending current pricing levels, which the company considers to be at a high point.…
Sharif emphasized the importance of the standby arrangement in safeguarding Pakistan from defaulting on its external obligations. The IMF’s executive board approved the disbursement following discussions between Sharif and IMF…
MTN Nigeria Communications Plc has reported a loss after tax of N392.7 billion for the first quarter of 2024, marking its second successive loss since being listed on the Nigerian…
The EFCC alleges that the frozen accounts are connected to individuals utilizing virtual cryptocurrency exchanges to manipulate the value of the Naira and launder proceeds from illegal activities. Notable account…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2024 oil bid rounds, presenting approximately 12 oil blocks to potential investors. Gbenga Komolafe, the Chief Executive…
The Nigerian Electricity Regulatory Commission (NERC) has announced the deregulation of meter prices under the MetER Assets Provider (MAP) scheme. This decision grants DisCos and meter manufacturers the authority to…
FMDQ Group has named Muhammad Sani Abdullahi, the Deputy Governor of the Economic Policy Directorate at the Central Bank of Nigeria (CBN), as the new Chairman of its board. Abdullahi…
At a sensitization workshop on the Federal Government Debt Recovery Drive through Project Lighthouse Programme in Enugu, Mr. Okokon Udo, representing the Federal Ministry of Finance, disclosed that the government…
Tanzania’s Prime Minister, Kassim Majaliwa, announced the closure of five hydroelectric stations to address excess electricity in the national grid. The main plant, Mwalimu Nyerere Hydroelectric Station, alone generates enough…
The suspension of Dana Air’s operations following a runway incident on its Abuja-Lagos flight has stirred controversy in the aviation industry. Stakeholders criticized the Ministry of Aviation and Aerospace Development…
The Advertising Regulatory Council of Nigeria (ARCON) has issued a caution to advertising agencies regarding the presentation of creative and advertising materials that pose security threats to the country. Speaking…
The Accountant General of the Federation, Mrs. Oluwatoyin Madein, announced that capital releases for the 2024 fiscal year will begin in May during a Stakeholders interaction/sensitization session in Abuja. She…
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has introduced the “SMEDAN Speed Pitch”, a business pitch competition aimed at enhancing financial literacy and providing opportunities for women-led…
The inaugural Nigeria Auto Industry Summit (NAISU), organized by the Nigeria Auto Journalists Association (NAJA) in collaboration with the National Automotive Design and Development Council (NADDC), is poised to commence…
Huawei has showcased its latest advancements towards ushering in the intelligent era with the theme “Unleash Data Power Towards the Intelligent Era.” Led by Gavin Geng, Vice President of Huawei…
U.S. prosecutors have recommended a 36-month prison sentence for Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange. This comes after Zhao pleaded guilty to violating money laundering…
United Bank for Africa (UBA) Plc, Access Holdings Plc, and FBN Holdings Plc emerged as the top earners in electronic banking revenue among 10 listed Nigerian banks last year, according…
LivingTrust Mortgage Bank, a Nigerian financial company, has named Wale Bolorunduro as its new chairman, starting from April 19, 2024. Bolorunduro takes over from Adebayo Jimoh pending approval from regulators.…
Transcorp Power Plc, a subsidiary of Transnational Corporation Plc (Transcorp Group), has named Faith Tuedor-Matthews and Charles Odita as independent non-executive directors. This decision reflects the company’s commitment to corporate…
Leadway Pensure, a pension fund administrator in Nigeria, has wrapped up the 2023 financial year with impressive results, boasting a 25% annual fund growth and surpassing its financial objectives for…
Taiwan’s President Tsai Ing-wen expressed happiness over the U.S. Congress passing a significant foreign aid package, which includes arms support for the island. This move comes amidst China’s repeated demands…
The U.S. Senate has overwhelmingly passed a bill to ban TikTok in the United States if its Chinese owner, ByteDance, doesn’t sell the popular short video app within the next…
Filianingsih Hendarta, deputy governor of Indonesia’s central bank, announced on Wednesday that Chinese firm Ant Group’s Alipay+ has not submitted a formal request for a permit to operate in Indonesia.…
Nigeria’s external reserves have decreased by $2.16 billion over the past month, reaching a seven-year low of $32.29 billion on April 15, 2024, according to data from the Central Bank…
Following foreign exchange losses in 2023 due to the naira depreciation, Nestlé Nigeria PLC has conducted a strategic revaluation of its fixed assets. The move comes after recording a loss…
Yesterday, the $20 billion Dangote Petroleum Refinery announced further reductions in the prices of diesel and aviation fuel to N940 and N980 per litre, respectively. The new price of N940…
The value of the Nigerian naira dropped against the United States dollar, reaching N1,234 at the official foreign exchange market on Monday, marking a decrease of N65 or 5.26% from…