Futures advance as Big Tech continues to recover
U.S. stock index futures surged on Wednesday, recovering from earlier losses as investors regained risk…
Month: August 2024
Lyft forecasts soft quarter after delivering net profit in Q2
Lyft’s shares fell over 10% in premarket trading on Wednesday after the company issued a…
Tim Walz’s Record as Minnesota Governor: An Overview
Since Tim Walz became Minnesota’s governor in January 2019, the state’s economic performance has generally…
Credit to economy falls 1.5% to N102.7trn
In June, banks’ lending to the economy fell by 1.5% from May, dropping to N101.2…
CBN okays Unity, Providus Banks’ merger arrangement
The Central Bank of Nigeria (CBN) has approved the merger between Unity Bank and Providus…
US, Africa Investment Summit To Hold In September
The Sub-Saharan Africa Business and Investment Summit (SSABIS) will return in September 2024, following the…
TCN Blames Arcing For Loss Of Supply On National Grid
The Transmission Company of Nigeria (TCN) has refuted reports of a grid collapse on Monday.…
Aviation Unions Seek Tinubu’s Intervention In Arik Air’s Grounding
Three major aviation unions have appealed to President Bola Tinubu for intervention in the grounding…
CBN steps in to save naira with retail dollar auction
The Central Bank of Nigeria (CBN) is holding a retail dollar auction today in an…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria’s revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to…
Dangote to sell 12.5% refinery stake amid liquidity concern
The Dangote Group is considering selling a 12.5% stake in its newly commissioned refinery due…
FG unveils comprehensive strategy for economic growth, citizens’ welfare
Nigeria’s Finance Minister, Wale Edun, has outlined the federal government’s strategy to revitalize the economy…
Heirs Insurance Group appoints Puri, Iroche as non-executive directors
Heirs Insurance Group (HIG) has announced the appointment of Ibrahim Puri and Sonny Iroche as…
NGX slumps as global tensions trim N371bn from investors’ wealth
The Nigerian Exchange Limited (NGX) continued its slide on Tuesday, with the All-Share Index dropping…
US transport safety board to hold hearings on Boeing 737 MAX 9 mid-air emergency
The U.S. National Transportation Safety Board (NTSB) is set to question witnesses from Boeing, Spirit…
Google has an illegal monopoly on search, US judge finds
A U.S. judge has ruled that Google violated antitrust laws by using billions of dollars…
Exclusive: Chinese firms stockpile high-end Samsung chips as they await new US curbs, say sources
Chinese tech giants like Huawei and Baidu, along with various startups, are stockpiling high bandwidth…
SoftBank seen posting modest profit in Q1, buyback potential in focus
Japan’s SoftBank Group is anticipated to report a modest profit for the first quarter on…
NNPC Announces Launch of New Crude Oil Grade, Targets 50,000bpd
NNPC Ltd has launched a new crude oil grade called Utapate into the international market.…
Overland Begins Lagos-Abuja Direct Flights
Starting August 9, 2024, Overland Airways will begin daily direct flights between Lagos and Abuja.…
NCC orders telcos to simplify tariff plans
The Nigerian Communications Commission (NCC) has directed telecom operators to make their tariff plans, bundles,…
Global stock markets plunge on US recession fears
Global stock markets experienced severe declines on Monday, with Wall Street and Tokyo’s Nikkei seeing…
Naira depreciates to N1,600/$ in parallel market
On Monday, the Naira weakened in the parallel market, falling to N1,600 per dollar from…
Oil/gas communities send memo to FG, IOCs, NDDC
Oil and gas communities in the Niger-Delta have presented a comprehensive agenda to the Federal…
BUA Cement’s pre-tax profit drops by 54% in Q1
BUA Cement’s second-quarter results for 2024 show a significant decline in pre-tax profit, falling by…
MTN, Airtel Cut Foreign Debt as Naira Falls
Telecommunication giants MTN Nigeria and Airtel Africa have significantly reduced their foreign exchange (FX) exposures…
Nigerians experience blackout as national grid collapses again
Nigeria’s electricity grid collapsed once more on Monday, causing a nationwide blackout. The system failure,…
Businesses reopen as states contain simmering protests
On Monday, many businesses in Lagos, including popular markets like Mile 2 and government offices…
Cryptocurrency Market Faces $900M Loss as Bitcoin Prices Drop
In the past 24 hours, the cryptocurrency market experienced $900 million loss, primarily due to…
CBN introduces Dutch auction system to tackle forex shortages
The Central Bank of Nigeria (CBN) has introduced a Retail Dutch Auction System (DAS) to…