Real Time Financial News Website
According to the latest Purchasing Managers’ Index (PMI) published by Stanbic IBTC, business activities in Nigeria stayed unchanged in March, holding steady at 51 points, the same level as February.…
Transnational Corporation Plc (Transcorp) witnessed a substantial increase in its profit before tax, soaring by 93.5% to N58.8 billion in 2023 compared to N30.4 billion in the previous year. The…
Several communities in Abuja, Lagos, and Nasarawa are currently experiencing power outages as a result of technical glitches affecting transmission stations. The Ikeja Electricity Distribution Company (DisCo) stated that the…
The Nigeria Customs Service (NCS) is grappling with significant challenges due to instability in customs duty rates caused by fluctuations in foreign exchange rates. Over the past three months, the…
There are signs that Nigeria’s reliance on imported petrol will decrease significantly as the $20 billion Dangote Refinery plans to commence supplying petrol to the domestic market starting from May…
The Nigerian Electricity Regulatory Commission (NERC) has revealed that a total of 1,974,385 electricity consumers will be affected by its recent tariff hike. The decision to increase tariffs aims to…
Dangote Sugar Refinery PLC (DSR) has introduced Series 2 and 3 Commercial Paper offers totaling up to N50 billion under its N150 billion Commercial Paper Issuance Programme. The offer is…
The Nigerian Exchange (NGX) All-Share Index began the week’s trading on a downward note, shedding 4 basis points to close at 104,518.14 points, compared to the previous session’s 104,562.06 points.…
Gabon has embarked on a historic national dialogue led by President Felix Tshisekedi, marking a significant departure from the 54-year reign of the Bongo dynasty. The dialogue, convened by Archbishop…
As markets navigate a shaky start to the second quarter, all eyes are on Federal Reserve Chair Jerome Powell’s upcoming speech, raising doubts about the central bank’s policy easing timeline.…
Virgin Atlantic anticipates returning to profitability in 2024 following robust revenue growth driven by increased demand from holidaymakers. The airline reported a record revenue of £3.1 billion in 2023, marking…
China’s central bank has announced revisions to car loan policies aimed at promoting auto trade-ins and scrapping government-set minimum down payments for consumers financing new car purchases. These revisions, the…
Greece has greenlit the acquisition of 35 UH-60M Blackhawk helicopters from U.S. defense contractor Lockheed Martin Corp, as part of efforts to modernize its armed forces. The deal, totaling 1.15…
The Central Bank of Nigeria (CBN) has raised the exchange rate used to calculate Customs duties at the nation’s seaports by 2.1%. This adjustment comes after a recent decrease in…
MTN Nigeria has announced plans to hold an extraordinary general meeting (EGM) with its shareholders later this month in Lagos. The sole agenda for the meeting is to discuss strategies…
On Tuesday, Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017, signaling a significant shift from a prolonged dollar shortage that has hindered economic activity…
Cadbury Nigeria Plc, a consumer goods firm, has reported a loss of N19.09 billion after tax for the financial year 2023, a significant decline from the N583.11 million profit recorded…
The Nigerian government is reportedly considering a significant increase in electricity tariffs, aiming to attract investment into the sector. According to reports from Bloomberg, unofficial sources suggest that tariffs for…
The pump price of Automotive Gas Oil (diesel) in Nigeria has witnessed a significant drop from around N1,700/litre to approximately N1,350/litre in various locations across the country. This decrease follows…
Despite economic challenges in the country, prominent Nigerian businessmen Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have retained their top positions on the Forbes World’s Billionaire list for…
The Nigerian banking sector experienced a downturn on the Nigerian Exchange Limited (NGX) yesterday, fueled by controversy surrounding the exclusion of retained earnings from the Central Bank of Nigeria’s (CBN)…
Today, Tuesday, the Naira showed signs of appreciation against the dollar in both the parallel market and the Nigerian Autonomous Foreign Exchange Market (NAFEM). In the parallel market, the Naira…
Thailand’s tourism ministry announced on Tuesday that the country recorded 9.4 million foreign tourists in the first three months of this year. These tourists contributed an estimated 454.6 billion baht…
UBS announced on Tuesday the launch of a new share buyback program worth up to $2 billion, with half of the buyback expected to be completed in 2024. The Swiss…
HeadlineGoogle has agreed to destroy billions of data records as part of a settlement to resolve a lawsuit alleging that it secretly tracked the internet use of individuals who believed…
The World Bank cautioned on Tuesday that job creation in South Asian economies is lagging behind the increase in the working-age population, putting the region at risk of wasting its…
Frontier Airlines, a U.S. no-frills carrier, is adjusting its strategy to prioritize growth in “high fare” markets like Seattle and Detroit over leisure markets such as Las Vegas and Florida…
Walt Disney (DIS.N) seems to have gained the upper hand in the battle for board seats and the future direction of the global entertainment conglomerate, with over half of all…
Farmers in Ivory Coast, the world’s leading cocoa producer, are worried about their cocoa crop due to the lack of rain and intense sun in key cocoa-growing regions last week.…
According to the Nigerian Investment Promotion Commission (NIPC), a total of 107 companies are currently receiving tax exemptions from the federal government. This information was disclosed in the NIPC’s fourth…