Real Time Financial News Website
Tuesday, June 7th,2022: At the Investors and Exporters (I&E) window, naira and the US dollar exchange rate closed at N420.75/$1. Naira recorded a 0.12% depreciation at N420.75/$1 compared to N420.25/$1…
Under heavy pressure from Western sanctions and airspace bans, Russian state flagship airline Aeroflot (AFLT.MM) plans to raise up to 185.2 billion roubles ($3 billion) in an emergency share issue,…
As investors build enormous positions against the Asian currency, the dollar rally has reached a 20-year high versus the yen.. At the time of writing, the greenback soared 0.42% to…
Oil prices drifted higher on Wednesday, anticipating a report of low U.S. oil stocks. While expectations of solid demand in the upcoming driving season also lent support.Brent crude futures for…
Fashion giant Zara’s owner, Inditex (ITX.MC), reported on Wednesday that its quarterly profit jumped 80%. on the back of soaring sales as consumers stuck at home during the pandemic revamped…
Nigeria’s import from China rose by 183.91% from N530.98bn in the first quarter of 2018 to N1.51tn in Q1 2022. China is responsible for most of the imports into Nigeria-…
35% of workers across the globe are planning to ask their employer for a pay raise. This will be in the next 12 months, a survey from PricewaterhouseCoopers has revealed.The…
Lululemon Athletica Inc (LULU.O) and H&M Group (HMb.ST) are among backers of a $250 million fund. Aiming to speed up efforts to cut carbon emissions in the fashion industry’s supply…
Operators in the oil and gas sector and stakeholders are uncomfortable with the continued rise in Petrol. The cost of subsidising Premium Motor Spirit, popularly called petrol, has jumped to…
Canadian heavy crude is finally trading like a “North American” grade, moving in tandem with U.S. sour crudes sold on the Gulf Coast after Enbridge Inc (ENB.TO) expanded its Line…
Barite or Barytes is a naturally occurring mineral made of barium sulphate and the source of the element barium. It is white or colourless and crystalline with a distinct heavy…
Tesla was proceeding with an online hiring event in China and added two dozen new job postings for the country. Elon Musk threatened job cuts at Tesla last week, claiming…
Manufacturing companies have said they cannot access loans at the Central Bank of Nigeria’s 5% lending rate under its intervention scheme. According to them, the loans have structural framework problems…
FirstBank has said it is partnering with the ELOY Foundation to launch the ELOY Foundation Business Shower. This supports female entrepreneurs in building sustainable businesses. It said in a statement…
Neveah Limited, exporter of Agro-commodities and solid minerals company. The company announces redemption of its N2.7bn Series 1 Commercial Paper under a debut N10bn commercial paper. Neveah also disclosed the…
Oil prices hovered near three-month highs on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures. Brent crude futures for August dipped 9 cents to $123.49 a barrel at…
Electricity distribution companies’ customer registration exercises have been stagnant at 10 million for the past two years. Further findings also show that about 4% of registered power users (4.7 million)…
Nigeria’s total public debt stock increased to N41.60tn in the first quarter of 2022 from N39.56tn as of December 2021. This shows an increase of N2.04tn within a period of…
The Federal Operations Unit, Zone A, the Nigeria Customs Service, has arrested 14 suspects. All in connection with seized 9,917 bags of 50kg foreign parboiled rice and other contrabands. They…
Africa: Ghanaian inflation rate drops for the 3rd month to 10.1%. Ghana’s cedi becomes investors’ best choice ahead Nigeria’s naira. Ghana restricts flights into country after detecting Coronavirus but Nigeria…
Shell, the oil and gas firm, inaugurated the second and final phase of its healthcare projects. Launching in Oloibiri and other communities in the Ogbia Local Government Area of Bayelsa…
Alok Gupta, the Managing Director of the African Industries Group, says that Nigeria needs to develop its large steel deposits. He further advised Nigeria to stop depending on steel imports…
Mudassir Amray has emerged as the new chief executive officer of Union Bank. He became the CEO of Titan Trust Bank Limited, a subsidiary of TGI Group. Many have lauded…
The Coca-Cola Foundation has awarded a grant to the Growing Business Foundation to strengthen Nigeria’s plastic waste management value chain. The award is through the Coca-Cola Foundation’s Empowering Collectors Initiative.…
The Metaverse space remains the best performer in terms of price appreciation. Despite the market downturn, they are vastly outperforming every other crypto category. Even in the current bearish condition,…
Listed on the Fintech 50 list of 2022 by Forbes are Chipper Cash and Esusu, two African-owned startups. Esusu, co-owned by Ghanaian Abbey Wemimo, founded in 2018 alongside Samir Goel.…
Qatar has picked Exxon Mobil Corp, Total Energies SE (TTEF. PA), Shell (SHEL. L), and ConocoPhillips (COP. N). These companies will partner in the world’s largest liquefied natural gas (LNG)…
The World Bank on Tuesday slashed its global growth forecast by nearly a third, to 2.9% for 2022. Russia’s invasion of Ukraine and damage from the COVID-19 pandemic have made…
From N189.50 billion to N387.19 billion, Nigerians spent 387.19 percent more on electronic bills including power and other utilities. In the first four months of 2019 to N923.24bn in the…
China’s exports are expected to have expanded at a faster pace in May as factories reopened. While imports also likely rose, a Reuters poll showed. The recovery adds to evidence…