US-China Trade Talks Enter Day Two Amid Tension Over Tech and Tariffs
Trade negotiations between the United States and China resumed in London for a second day, with both sides aiming to…
Month: June 2025
Ghana Urges AGOA Renewal as U.S. Tariffs Threaten African Exports
Ghana’s Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has called for the urgent renewal of the African Growth and…
U.S. and China Resume High-Stakes Trade Talks in London Amid Rare Earths Dispute
U.S. and Chinese officials reconvened in London on Tuesday for a second day of trade talks, with global markets closely…
Morgan Stanley Markets $5 Billion xAI Debt Amid Musk-Trump Fallout
Morgan Stanley is marketing a $5 billion debt package for xAI, the artificial intelligence startup owned by Elon Musk, sources…
Audit Failure Costs Nigeria $4m in World Bank Loan Amid Broader Project Setbacks
Nigeria is set to forfeit $4 million from a World Bank loan after failing to meet international auditing standards on…
Fitch Affirms Stanbic IBTC’s ‘AAA’ Rating for 11th Straight Year, Citing Strong Risk Management and Strategic Value
Global credit rating agency Fitch Ratings has reaffirmed Stanbic IBTC Holdings PLC’s national long-term rating at ‘AAA(nga)’ with a stable…
Nigerian Equities Market Adds N1.81trn in Four-Day Rally, ASI Rises 2.57%
The Nigerian equities market delivered a strong performance during the holiday-shortened week ending June 5, 2025, as the NGX All-Share…
Nigerian Businesses Cautious Amid Optimism as Interest Rate Hike Looms — CBN Survey
A recent survey by the Central Bank of Nigeria (CBN) reveals a mixed economic sentiment among businesses across the country,…
Depot Price War: Six Operators Slash Petrol Rates as Competition Heats Up
Amid growing competition in Nigeria’s downstream petroleum sector, six depot operators have reduced the price of Premium Motor Spirit (PMS),…
Oando deepens upstream investment with $375m financing deal
Oando PLC, a leading Nigerian energy company listed on both the Nigerian and Johannesburg Stock Exchanges, has announced the successful…
Dollar Edges Up Amid Weak U.S. Data; Euro Holds Steady Before ECB Decision
The U.S. dollar showed modest gains on Wednesday, recovering from earlier losses caused by disappointing economic data. The latest report…
Markets Hold Steady as Europe Awaits ECB Rate Cut Amid Global Trade and Bond Moves
European markets opened cautiously on Thursday as investors awaited a widely anticipated interest rate cut from the European Central Bank…
GH¢1 Fuel Levy Sparks Concern Over Economic Recovery Amid Calls for Strategic Collaboration-Ghana
Businesses in Ghana have expressed serious concerns about the recent GH¢1 per litre fuel levy, warning that its timing could…
Nigeria’s health budget too low to address challenges — Bill Gates
US billionaire and Gates Foundation Chair Bill Gates has expressed deep concern over Nigeria’s insufficient health budget, warning that it…
JPMorgan Embraces Bitcoin with New Lending Options as Standard Chartered Warns of Market Correction
Bitcoin’s futures market shows promising bullish signals despite a recent cooling in price, trading just below $105,000 after peaking at…
Fitch Forecasts Growth for Nigeria’s Islamic Finance and Sukuk Market Despite Challenges
Fitch Ratings projects notable growth for Nigeria’s Islamic finance sector from the second half of 2025 through 2026, fueled by…
Statisense Launches “Immortal AI” to Revolutionize Africa’s Data Intelligence Landscape
Statisense, Nigeria’s leading data intelligence firm, has unveiled Immortal AI, a transformative platform aimed at unlocking the vast potential of…
JPMorgan Embraces Crypto ETFs as Loan Collateral Amid Institutional Shift
JPMorgan Chase & Co., the largest bank in the United States, has announced it will now allow clients to use…
SEC Sets November Deadline for T+2 Settlement Cycle, Aims for Faster, Safer Market
The Securities and Exchange Commission (SEC) of Nigeria has mandated that all capital market participants transition to a T+2 settlement…
Trump Administration Renegotiates Biden-Era Semiconductor Grants to Boost Value for Taxpayers
The Trump administration is revisiting and renegotiating several semiconductor grants originally awarded under former President Joe Biden’s CHIPS and Science…
Treasury Yields Stabilize After Sharp Drop on Weak U.S. Economic Data
U.S. Treasury yields steadied on Thursday following steep declines on Wednesday triggered by a series of disappointing economic reports. The…
CBN Drains N1.1 Trillion via OMO Auctions in May to Boost FX Inflows Amid Tight Liquidity
The Central Bank of Nigeria (CBN) withdrew a substantial N1.1 trillion from the financial system through Open Market Operation (OMO)…
Cost-push factors driving Nigeria’s inflation – Survey
Nigeria’s inflation crisis is being primarily driven by supply-side cost pressures rather than excess demand, according to the Central Bank…
GSM Technology Dominates Nigerian Internet Market with Over 141 Million Active Subscribers in April 2025
The Nigerian Communications Commission (NCC) reports that active internet subscribers in Nigeria reached nearly 142 million as of April 2025.…
Oando Surge Lifts NGX Market Cap to N71 Trillion Amid Strong Investor Sentiment
The Nigerian Exchange Limited (NGX) witnessed a remarkable milestone as its total market capitalisation soared to N71.118 trillion, driven largely…
Oil Dips Over 1% as Surging U.S. Fuel Stocks Overshadow Crude Draw and Demand Fears Rise
Oil prices fell by just over 1% on Wednesday following the release of U.S. government data revealing a sharp and…
Naira Hits Two-Month High at N1,565.46/$ as CBN Reforms Steady FX Market
The naira surged to a two-month high on Wednesday, trading at N1,565.46 per US dollar in the official foreign exchange…
Firms Blame Soaring Energy and Transport Costs for Nigeria’s Persistent Inflation – CBN
The Central Bank of Nigeria (CBN) has revealed that a vast majority of Nigerian firms cite high energy costs as…
Wall Street Edges Up as Tech Gains Offset Economic and Tariff Concerns
U.S. stock markets saw modest gains on Wednesday, buoyed by strength in technology shares despite a slew of troubling economic…
Ghana’s Inflation Drops to 18.4% in May, Lowest Since 2022 Amid Falling Transport Costs
Ghana’s annual inflation rate dropped sharply to 18.4% in May 2025, marking a significant decline from April’s 21.2%. This development…