Proposed Tariff Hike May Raise Telcos’ Voice Revenue To N1.55tn–NCC report
Telecommunications companies’ voice revenue could jump by at least N442.57bn to N1.55tn in a year. If the price floor of…
Author: akintunde
Oil Prices Take Breather After Three-Day Rally
Oil prices fell on Wednesday after rising in the previous three sessions, but it a limited loss on the view…
Asian Stocks Lose Bounce From Shorter China quarantine, Slip On Inflation Fears
Stocks fell across Asia on Wednesday morning, extending overnight losses on Wall Street amid concerns over recession, inflation and high…
Fuel Subsidy, Refinery Rehabilitation Gulped N1.3tn In Five Months – NNPC
The amount spent on petrol subsidy monthly has been depleting the revenues accruable to the Federation Account. Thus limiting the…
Afreximbank’s Payment Solution To Save Traders $5Bn
The African Export-Import Bank has created a payment solution platform, the Pan-African Payment and Settlement System. This is to facilitate…
NAICOM Revokes Niger Insurance, Standard Alliance Licences, Appoints Liquidators
Following the failure of several palliatives to strengthen both Niger Insurance Plc and Standard Alliance Insurance. The National Insurance Commission…
Elon Musk Hits Over 100 Million Followers On Twitter
Elon Musk just passed the 100 million follower mark on Twitter. This made him the sixth user on the platform…
U.S. FTC Sues Walmart For Allegedly Allowing Money Transfer Services For Fraud
The U.S. Federal Trade Commission it sued Walmart Inc (WMT.N), alleging the company had done too little to prevent scam…
Rouble Firms Past 52 Against Dollar For First Time Since May 2015
The rouble rallied past 52 against the dollar to a more than a seven-year high on Tuesday as capital controls.…
Dollar Falters As U.S. Yields Retreat Amid Recession Risks
The dollar slipped against most major peers as a decline in U.S. yields took some of the sheens off the…
S.Korea’s LGES Reviews $1.3 Bln Arizona Battery Investment As U.S. Inflation Bites
South Korean battery maker LG Energy Solution Ltd (LGES), a major supplier to U.S. carmakers, including Tesla (TSLA.O). They are…
Aeromexico Shareholders Back Mexico Stock Exchange Exit In Bankruptcy Restructuring
Aeromexico said on Tuesday that a majority of its shareholders approved a proposal to exit the main Mexican stock exchange.…
Tesla Closes An Office As Layoff Hits Autopilot Jobs, Including Hourly Ones
Tesla (TSLA.O) has shuttered its office in San Mateo, California, and laid off roughly 200 employees. Especially those working on…
Nigerian Stocks Lose Over N85 Billion In A Day
The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 31…
S.Korea Export Growth Seen Rebounding In May; Inflation Tops 5%
South Korean export growth is expected to have rebounded in May, but the trade balance likely remained in red, while…
UBA Rewards Customers With N16.6m In Promo
Africa’s Global Bank, the United Bank for Africa Plc, has rewarded its loyal customers in its UBA Super Savers draw…
Corporate Trustees Give Safety Tips On Investments.
The Association of Corporate Trustees has said that trustees play a relevant role in; ensuring capital market investment protection in…
Teetering On Default, Russia Misses $1.9 Mln Payment, Committee Determines.
Russia’s failure to pay $1.9million in accrued interest on a dollar bond will trigger payouts potentially worth billions of dollars.…
Electricity Tariff Surge By 58% After N500bn Subsidy Suspension –Report
Findings have shown that electricity tariffs increased by 58% after the Federal Government yanked off a yearly subsidy of N500bn…
Britons Seek Cheaper Grocery Options As Inflation Bites – NielsenIQ
Britons are shifting to cheaper food alternatives in their supermarket shopping as they try to navigate a worsening cost of…
In Historic Shift, Toshiba Board Gains Two Directors From Activist Hedge Funds.
Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on…
Nissan Shareholders Reject Proposal To Designate Renault As Parent.
Japan’s Nissan Motor Co Ltd (7201.T) on Tuesday rejected a shareholder proposal at its annual general meeting (AGM) that would…
Stocks Swing Higher As China Eases Quarantine Rules.
Asian shares swung into positive territory in afternoon trade, propelled by China’s decision to ease some quarantine requirements for international…
China Vows Timely Policy Measures To Cope With Economic Risks.
China will roll out tools in its policy reserve in a timely way to cope with more economic challenges; as…
Ericsson’s $6.2 Bln Vonage Takeover Delayed Over U.S. Review
Ericsson (ERICb.ST) said the closing of its $6.2 billion Vonage acquisition was delayed to the end of July. From the…
Elevator Maker Kone Divests Russia Business.
Finnish elevator maker Kone (KNEBV.HE) said it will sell its business in Russia to local management for an undisclosed amount.…
Column: Hedge Funds Turn Tail As Commodities Crumble On Recession Rumble: McGeever
Buy and hold, maximum long. That has basically been the strategy for commodity hedge funds for the last couple of…
Boost For Luxury London Property Prices As Russians Locked In.
The war in Ukraine is making it hard for even unsanctioned Russians to sell exclusive residential property in Britain. Adding…
Nigeria’s PZ Cussons Fights Off Inflation To Post 277% Rise In Profits.
Leading conglomerate, PZ Cussons Nig Plc, released its Q4 2021/22 unaudited results for the period ended May 31, 2022. Reporting…
Fuel Scarcity: FG To Sanction Fuel Stations Selling Fuel Above N165.
The Nigerian Government has decided to clamp down on filling stations selling Premium Motor Spirit (PMS); above the N165 agreed…