Chinese investors’ rush for offshore assets spurs Hong Kong wealth inflows
Wealthy Chinese investors are increasingly turning to Hong Kong investment products, such as insurance and high-yield time deposits, to safeguard…
Day: June 17, 2024
China’s factory output disappoints, property sector stuck in doldrums
China’s economic data for May revealed a mixed picture, with industrial output growth slowing to 5.6% year-on-year, below expectations, while…
Dangote refinery achieves double Nigeria’s 11-yr power output
Over the past eleven years, Nigeria has only managed to add 760 megawatts (MW) to its national grid, increasing its…
Morning Bid: Buoyant US eyes French angst, China home woes
Wall Street stocks and bonds maintained stability following a dynamic macroeconomic week, despite concerns over French political instability and a…
Oil steady as downbeat Chinese data offset demand hopes
Oil prices remained steady on Monday as mixed Chinese economic data tempered hopes for increased demand during the northern hemisphere’s…
Goldman Sachs raises S&P 500 year-end target to 5,600
Goldman Sachs has increased its 2024 year-end target for the S&P 500 Index to 5,600, up from a previous target…
Shares stable, euro downtrodden as political turmoil saps market mood
Shares stabilized on Monday as European stocks partially recovered from last week’s losses, with the euro remaining weak amid ongoing…
SK Group to protect affiliates from hostile takeover after chairman’s divorce ruling
South Korea’s SK Group Chairman, Chey Tae-won, addressed concerns on Monday about the potential impact of his recent divorce payment…
At Toyota shareholder meeting, all eyes on level of support for chairman
Toyota Motor Corporation’s Chairman, Akio Toyoda, is expected to secure re-election at the automaker’s annual general meeting (AGM) despite recent…
Murray-Bruce, Omokri support Fidelity Bank, urge Nigerians to buy its stock
Former Senator Ben Murray-Bruce and ex-presidential aide Reno Omokri have both expressed strong endorsements for Fidelity Bank, encouraging Nigerians to…
Nigeria’s FX reserves stablise at $33.16bn amid inflation surge
Nigeria’s foreign exchange (FX) reserves have demonstrated remarkable stability, holding firm at $33.16 billion, which signals economic steadiness despite rising…
Changan posts 3.29% rise in May sales, gets more popular in Nigeria
Chinese automaker Changan Automobile reported a modest increase in May sales. According to a production and sales report released on…
FG sets 9-month timeline for 2024 oil block licensing round
In a significant shift from previous practices, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has established a nine-month timeline for…
Growth Stack wins tech award
Growth Stack has been honored as Africa’s most trusted software development company of the year by the African Brand Congress.…
SEC Chief Warns on Risks of Innovation at Capital Market Summit
Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), has urged stakeholders in Nigeria’s capital market to remain…
Rubicola Partners NGX, ACCA On Sustainability, Climate Risk Disclosures
In an effort to enhance corporate transparency and sustainability in Nigeria, Rubicola Consulting has partnered with NGX Regulation Limited and…
SAHCO grows gross profit to N8.19bn
Skyway Aviation Handling Company (SAHCO) Plc announced a substantial growth in its gross profit, reaching N8.195 billion for the financial…
Recapitalisation: Wema Bank Gets Approval For N40bn Rights Issue
Wema Bank has announced the successful conclusion of the first tranche of its recapitalisation exercise, securing all necessary regulatory approvals…
Senegal Joins Oil-Producing Countries, Begins Production
Senegal has achieved a historic milestone by officially commencing oil production, thereby joining the ranks of oil-producing countries in West…
Nigeria’s Eurobond Issuance Plans Remain Uncertain
Nigeria’s planned Eurobond issuance has left investors and market players in uncertainty as authorities have not disclosed the timing of…