Real Time Financial News Website
Revenue collection by the 11 distribution companies increased by 47% to N757bn in 2021. The Association of Nigerian Electricity Distributors’ 2021 report on Commercial Key Performance Indicator. For its members…
To ease the increased oil costs as a result of Russia’s conflict with Ukraine, South Africa wants to extend its fuel subsidy for another two months. To make this happen,…
Cardano has also seen gains in the last seven days, with its price rising by 14%. As a result of its recent increases, ADA has surpassed both Ripple (XRP) and…
German retail sales fell by more than expected in April as consumers feel the pinch of higher prices. Especially for food, and retailers face supply problems from the China lockdowns.…
World Bank economists, Jonathan Lain and Jakob Engel, have said that rising inflation, persistent population growth, the COVID-19 pandemic, and the war in Ukraine are threatening Nigeria’s poverty reduction aspiration.…
The Central Bank of Nigeria (CBN) has raised the limit for ‘Highly Secured Online Funds Transfer’. This begins from N100 million to N250 million for companies and from N10 million…
It looks like the bearish market is hitting all sectors of the cryptocurrency space. Including those that are charged with the responsibility of validating transactions and maintaining the network integrity…
Walmart Inc announced plans to open four new fulfillment centers in the United States over the next two years. Creating 4,000 new jobs that will expand its delivery network and…
Ripple CEO, Brad Garlinghouse said the San Francisco-based payments company will explore acquiring additional crypto ventures in the future. The CEO believes that mergers and acquisitions will become more common…
A Northeast Asian country, Japan, becomes one of the first major economies to introduce a legal framework surrounding stablecoins. This comes when there are pertinent questions about the backings of…
Due to the bear run the cryptocurrency space has been experiencing throughout the year, not only are retailers losing money. Venture capital firms that have invested in the space are…
Nigeria’s foreign trade rose to N13 trillion in the Q1 of 2022, increasing by 11.1% from N11.7 trillion recorded in Q4 of 2021. 65.4% higher than the N7.86 trillion recorded…
Asian shares joined U.S. stock futures in making cautious gains on Monday ahead of U.S. inflation data this week. While the euro touched a seven-year top against the yen amid…
An extra C$8,300 ($6,600) in your pocket. That is roughly how much the average Canadian saved during the pandemic. The central bank is betting on C$40 billion in added spending…
Nigeria’s high inflation rate has permitted a negative yield in the fixed income market. A whopping 527% oversubscribed the Central Bank of Nigeria’s (CBN) Treasury Bills for a 1-year tenor…
The Federal Government and the Nigerian Export-Import Bank have signed a $40m intervention fund for women in the oil and gas sector. Disclosed at the Diversity SWG conference, by the…
The cryptocurrency industry is on edge, as investors feared contagion from problems at major crypto players could unleash a major shakeout. Bitcoin, which has lost 57% so far this year…
Expectations for how drastically central banks need to tighten monetary policy to fight soaring inflation have taken another leap higher. Thereby shaking up global markets and rattling investors.Among the eye-catching…
Euro rose on Monday despite French President Emmanuel Macron losing an absolute majority in the country’s parliamentary election. As the dollar retreated against its major peers after hitting a 20-year…
Australia’s big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value. As a commodities selloff over, it eased China’s demand, and fears…
China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier. Refiners cashed in on discounted…
Indian shares were little changed on Monday, with gains in consumer stocks offset by losses in metals, while global prices of copper and crude oil declined.The NSE Nifty 50 index…
French food giant Danone (DANO.PA) is cutting the variety of products it sells to retailers to reduce costs. However,This means yoghurt fans may miss out on the exact flavour or…
Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemptions of crypto assets on Friday. As the crypto lender scrambles to pay its clients after the recent slump in the…
Lagos State residents and businesses operating in the state spend about N5.3 trillion annually on fossil fuel because of the low supply of electricity from the national grid. The Commissioner…
The World Bank projects an inflation shock to push about 15 million more Nigerians into poverty between 2020 and 2022.The Washington-based bank said this in its latest Nigeria Development Update…
With the launch of trade houses in Egypt and Togo, NEPC, is targeting a 40% increase in the country’s exports. Speaking during an event entitled, ‘Advocacy Programme on Export Trade…
The World Bank says the Central Bank of Nigeria’s development finance intervention is fuelling inflation in the short term. Which is weakening the ability of the apex bank to control…
The Federal Government’s expenditure on pensions and gratuity fell slightly by N3.48bn in 2021. This is according to figures obtained from the Central Bank of Nigeria.The CBN revealed in its…
Asian shares slipped on Monday and Wall Street futures eked out slight gains amid worries the U.S. Federal Reserve would this week underline its commitment to fighting inflation with whatever…