Foreign Investors Prefer Nigerian Banks’ Eurobonds To Their Stocks
Foreign investors can’t get enough of Nigerian banks’ Eurobonds but won’t touch their stocks with a ten-foot pole. First, it was Access Bank and now United Bank for Africa (UBA)…
6,000 Base Stations Needed For 5G Rollout In 10 Nigerian Cities – GSM Operators
The Global System for Mobile Communications Association says $500m and 6000 base stations are needed for 5G rollout in the top 10 cities in Nigeria. The telecom industry umbrella organisation…
UBA’s $300 Million Eurobond Oversubscribed
Amid global and domestic challenges, the United Bank for Africa Plc’s (UBA) $300 million Eurobond attracted 1.7 times oversubscription from investors across the globe. The Pan-African bank had on the…
WeChat Bargain Hunters Seek Profits In China Property Bond Rout
In late October, as a growing liquidity crisis across China’s property sector walloped developers’ bonds, a group of Chinese finance professionals got together on the messaging app WeChat to pool…
Biden Signs Legislation To Tighten U.S. Restrictions On Huawei, ZTE
U.S. President Joe Biden on Thursday signed legislation to prevent companies like Huawei Technologies Co or ZTE Corp that are deemed security threats from receiving new equipment licenses from U.S.…
Toshiba Says It Plans To Split Into Three Firms, Rejects Calls To Go Private
Japanese industrial conglomerate Toshiba Corp outlined plans on Friday to break up into three independent companies by spinning off two core businesses – its energy and infrastructure business as well…
Twitter To Launch Dedicated Crypto Team
Twitter is expanding further into the world of cryptocurrencies as the social media giant is setting up a team dedicated to looking into decentralized applications, cryptocurrencies and blockchain. To this…
Flutterwave Acquires Disha, A Creator Platform That Planned To Shutter In February
In February, Disha, a Nigeria-based platform that allows digital creators to curate, sell digital content, create portfolios and receive payments from their audience globally, announced that it was closing shop.…
YouTube Hides Dislike Counts To Protect Creators
In an attempt to make the YouTube platform more hospitable to creators, the virtual content creator platform will no longer show the number of dislikes on videos to help protect…
Equities Extend Losses As Capitalisation Dips Further By N82 Billion
The market capitalisation of listed equities depreciated further by N82 billion yesterday, following the extension of losses on the Nigerian Exchange. Indeed, the All-Share Index (ASI) dropped by 158.02 absolute…
Stock Futures Rise Slightly As Wall Street Looks To Avoid Losing Week Amid High Inflation
Stock futures moved slightly higher early Friday morning as Wall Street looked to end the week on a positive note after a historic inflation report. Futures contracts tied to the…
Xpeng Shares Spike 10% As The Chinese Electric Carmaker Teases New SUV To Launch Next Week
Chinese electric carmaker Xpeng teased a new sports utility vehicle on Friday, with the launch scheduled for next week. The car is likely to be the successor to Xpeng’s current…
Stock Market Sheds N51bn As Investors Take Profits
The Nigerian equities market fell for the second consecutive day on Thursday, with the total market value losing N51.27bn as investors took profits in MTN Nigeria Plc and some other…
FG Planning To Replace Fuel Subsidy With Transport Palliative – Minister
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has described fuel subsidy as a major waste and a drain on the Nigerian economy,saying the government plans to…
FG Makes New N20 Million Investment In Start-Up Ecosystem
The Federal government has pumped N20 million into the Nigerian start-up ecosystem. The investment came through the Nigerian Communications Commission, NCC, which doled out a grant of 5million each to…
Nigeria’s Lending Startup Payhippo Raises $3 Million For SMEs
A lending startup, Payhippo has raised $3 million to support the small and medium enterprises (SMEs) across the continent. Its co-founder and Chief Operating Officer (COO), Chioma Okotcha, said the…
Women Empowerment: Nigeria Firm, 33 Others Among $25M Google Awardees
A Nigerian firm, ImpactHer and 33 organisations from other countries are to receive $25 million grants for creating opportunities that benefit women and girls. The funding to the firms which…
Naira Appreciates Further, Trades N530 A Dollar At Parallel Market
The naira has appreciated further against the dollar at the parallel market on Thursday to trade at N530 per dollar. The figure is N10 or 1.8 percent higher than the…
Dangote’s $500M Cement Refinery At Ethiopia Endangered As Rebel Forces Close In
A cement refinery in Ethiopia belonging to Dangote Group risks being damaged in the ongoing conflict by Tigray rebels and its allies against the Ethiopian government and its allies. The…
ASUS Launches Vivobook 13 Slate OLED
Taiwanese multinational computer and phone hardwares and electronics company, ASUS, on Wednesday, launched the first 13.3″ OLED Windows detachable laptop, which is the Vivobook 13 Slate OLED. The 2-in-1 Windows…
China Ready To Assist Nigeria Boost Export, Industrialisation – Envoy
Cui Jianchun, the Ambassador of the Peoples Republic of China to Nigeria, has said that China was ready to work with Nigeria to develop her value-added industries, boost exports and…
DMO To Auction N150bn FGN Bonds Nov 17
DMO said this in a circular issued on Thursday. It said the bonds will consist of three equal tranches worth N50 billion each. The first tranche is a 10-year reopening…
NGX Pushes Ahead With Retail Participation Drive
The Nigerian Exchange Limited has announced that it will be holding its fourth retail investor workshop in 2021 in line with its aim to drive the development and promotion of…
SEC Urges Firms To Tap Islamic Capital Market
The Securities and Exchange Commission has advised corporate organisations to leverage the Islamic capital market, saying it will help create an enabling environment. The Director-General, SEC, Lamido Yuguda, said this…
China’s JD.com Smashes Through Its Singles Day Record With $48.7 Billion In Sales And Counting
Chinese e-commerce giant JD.com has racked up 311.4 billion yuan ($48.6 billion) in sales across its platforms as of 14:09 p.m. Beijing time during the Singles Day shopping event, smashing…
Indonesia’s Tech Giant GoTo Group Raises $1.3 Billion Ahead Of IPO Plans
Indonesia’s GoTo Group has secured $1.3 billion from investors in the first close of an ongoing funding round ahead of a planned initial public offering, the technology company said Thursday.…
FG To Mandate Ownership Disclosure Of Oil Assets To Curb $1tr Losses
The Federal Government, through the recently established Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday, said it would become compulsory for oil and gas companies operating in the country to disclose…