Australia’s Central Bank Raises Interest Rate To 0.85%
The Reserve Bank of Australia has announced the greatest single hike in the cash rate in 22 years as it strives to contain inflation before it spirals out of control.…
Amazon Stock Split May Draw Retail Traders In Tough Market.
Amazon’s (AMZN.O) stock split may provide some solace to shareholders who have seen the e-commerce giant’s shares battered this year. Amazon shares were up 3.1% to $126.17 in afternoon trading…
Dollar Hits Fresh 20-Year Peak To Yen; Aussie’s Post-RBA Gains Fizzle.
The dollar rose for a second day versus the yen, hitting a new two-decade high, as concerns about rising inflation increased Treasury yields while Asian shares fell, both benefiting the…
Lagos, Oando Partner To Introduce Electric Mass Transit Buses- Nigeria.
With the signing of a Memorandum of Understanding to offer electric buses for citizens of Lagos, the Lagos Metropolitan Area Transport Authority and Oando have achieved a new milestone. The…
Turn Ex-Agitators Into Entrepreneurs, Amnesty Administrator Tells Contractors
The Interim Administrator, Presidential Amnesty Programme, Col. Milland Dixon Dikio (retd), has called on contractors engaged by the scheme to make entrepreneurs out of the ex-agitators that will be sent…
Oil Prices Inch Higher On Relaxed China COVID Curbs, Tight Supplies
Oil prices rose on Tuesday, due to a demand recovery in China, as the world’s second-largest economy eases severe COVID-19 restrictions. As well as skepticism that OPEC+ countries’ higher output…
Panic In Crypto Market As Bitcoin Drops Below 30K, Nearly 80K Investors Burnt
The value of the crypto market plummeted below $1.3 trillion, pushing Bitcoin below $30,000. Bitcoin was last seen trading at around $29.5K, down 5% for the day. Ether, the second-largest…
FG Warns Farmers Against Selling Government-Provided Inputs- Nigeria.
The Minister of Agriculture and Rural Development, Dr. Mahmood Abubakar, has warned smallholder farmers against selling the agricultural inputs given to them by the ministry. The minister handed down the…
Why Nigeria Air May Not Fly As Soon As Expected
The Nigeria Air, the national carrier, may not hit the sky due to a major challenge hindering its operations. The CEO, Captain Dapo Olumide, confirmed on Monday, when getting the…
DMO Offers June 2022 FGN Savings Bond For Subscription- Nigeria
The Debt Management Office (DMO), on behalf of the Federal Government has announced the offer for subscription of the June 2022 Federal Government Savings Bond to investors. This disclosure is…
Saudi Arabia Hikes July Crude Prices Surprisingly High For Asia Buyers
Saudi Arabia, the world’s top oil exporter, raised July crude oil prices for Asian buyers to higher levels. Amid concerns about tight supply and expectations of strong demand in summer.…
Bitcoin Surge Above $31K Amid Pending US Inflation Data
Bitcoin traded just around $31K, moving up marginally from Friday but still inside its tight range. Since early May, Bitcoin has fluctuated a little above and below this level, depending…
NCC Says 832 Subscribers Ported To MTN From Other Networks In April 2022- Nigeria
The Nigerian Communications Commission (NCC) has revealed that 832 mobile subscribers ported to the MTN network in April 2022. The subscribers moved from other mobile networks of Globacom, Airtel, and…
South Africans To Sell Its Equity In Southern Sun Ikoyi Hotels To Kasada Group For $30.4 Million- Nigeria
South Africa’s Southern Sun Africa (SSA) is disposing of its 75.55%. Majority shareholding in Southern Sun Ikoyi Hotels, one of Nigeria’s largest business hotels. Nigerian entities own the balance of…
Abbey Mortgage Bank Grows Profit Before Tax By 116% -Nigeria
Primary mortgage institution, Abbey Mortgage Bank Plc, has said its financial results for the year ended December 31, 2021. Shows profit before tax, PBT, growth of 116%. The firm said…
Firm Plans Fresh Investment In Oil Sector- Solewant Nigeria
The Managing Director, Solomon Ewanehi, in a statement said, “Solewant is now entering the next phase of its extensive development. Through a series of investments and expansions. According to Solewant,…
Nigerian Government Committed To Massive Investment In Irrigation – Minister
The Federal Government has expressed its determination to massively invest in irrigation in order to diversify the nation’s economy. The Minister of Water Resources, Suleiman Adamu, said this in Ibadan,…
Real Estate Firm Calls For Global Decarbonization Shift
Address Homes said property firms should embrace global shifts towards carbon emission reduction. The firm made the call during the two-day Real Estate Summit, held in Lagos last week. The…
Moderna Delays COVID Vaccine Deliveries To EU By Several Months
Moderna Inc said on Thursday it has agreed to push back some COVID-19 vaccine deliveries to the European Union by several months to later in 2022 or early next year.…
VFD Group to pay shareholders N10.79 dividend
VFD Group Plc, a proprietary investment company, has said it will pay its shareholders N10.79 per share with a bonus of one for every two shares owned for the year…
Oil Prices Nudge Higher On EU’s Russian Oil Ban, End Of Shanghai Lockdown
Oil prices inched higher on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. Brent…
Lagos int’l airport runway lights collapse, pilots warn FAAN
The approach lights on the runway of the Murtala Muhammed International Airport, Lagos, have gone off . These pilots depend solely on equipment onboard their aircraft to land, findings by…
Startup Index: Nigeria Ranks 61st Globally, 2nd In Africa
The Nigerian startup ecosystem has been ranked 61st globally. And second in Africa on the Global Startup Ecosystem Index by StartupBlink. Nigeria displaced Kenya to spot 62 and third in…
Britain’s Frasers Buys Missguided For $25Million
British sportswear and fashion group Frasers (FRAS.L) has acquired online women’s fashion retailer Missguided out of administration, it said on Wednesday. The group, formerly called Sports Direct and controlled by…
Mapmaker TomTom To Cut 10% Of Jobs Due To Improved Automation
TomTom (TOM2.AS) will shed around a tenth of its global workforce, the Dutch navigation and digital mapping company said on Wednesday, as it steps up its automated mapmaking capability. “Regrettably,…
MTN Nigeria Appoints Mroue As Non-Executive Director
MTN board has approved the appointment of Mazen Mroue as a non-executive director of the company effective June 1, 2022. This is according to a disclosure filed on the website…
Power Sometimes Gulps 40% Of Our Production Costs – Manufacturers In Nigeria
The Chairman, Board of Directors, Manufacturers Power Development Company, Ibrahim Usman, speaks on how unstable power supply is adversely affecting the manufacturing sector. In his words he said, In some…
Britons Step Up Supermarket Visits In Search For Value – London
Britons’ visits to supermarket stores rose 7% year-on-year in the four weeks to May 21. As they shopped around for the best prices amid a worsening cost of living crisis,…
Italy’s CDP May Hold 70-77% Of Combined Broadband Network Under MoU – Paper
The plan aims to combine TIM’s fixed network with that of CDP-controlled broadband rival Open Fiber as CEO Pietro Labriola looks to revive TIM’s fortunes via a full-blown split of…
Taraba, Kogi, Kebbi States Record Highest Airfares In April 2022
Taraba, Kogi and Kebbi States recorded the highest air transport charges for specified routes single journey in April 2022. This was disclosed by the National Bureau of Statistics (NBS) in…