Netherland Confirms Delay of 5G Auction
The Netherlands’ State Secretary for Economic Affairs Mona Keijzer has told the House of Representatives that the planned auction for 3.5GHz 5G mobile frequency licences will be delayed due to…
UK Property Prices Continues To Jump Market Strength Persists
British house prices rose sharply last month in a further sign of strong momentum in the market even after the partial withdrawal of tax breaks on property purchases, a survey…
Outstanding ECA Loan Associated With 8 Eight Aircraft Repaid – Aviation PLC
It is pleasing that commercial bank aircraft lending appears to be reopening following the disruption caused by COVID-19,” said executive chairman Jeff Chatfield Avation PLC (LSE:AVAP), a commercial passenger aircraft…
Stock Futures Open Slightly Higher After Dow Slips Following August Jobs
U.S. stock futures opened slightly higher Monday night after the Dow slipped from a record high on Friday before the three-day Labor Day weekend. Dow Jones Industrial Average futures rose…
Civil Society Organisations Knock Nigeria’s Tax Authority Over Planned Social Media Tax
Civil Society Organisations on Monday condemned the Federal Inland Revenue Service over its decision to impose taxes on social media activities. The FIRS is currently seeking the approval of the…
United Oil & Gas Signs Binding Deal To Sell North Sea Assets
United Oil & Gas PLC (AIM:UOG, FRA:1UO) is advancing its deal to sell its North Sea licences, signing a binding agreement with Quattro Energy. The deal, announced initially in August,…
Stanbic IBTC Bank Revenue Shrinks, Profit Drops By 53%
Stanbic IBTC Holdings Plc reported a 52.85 per cent drop in its profit before tax for the first half this year amid a decline in its trading revenue and other…
Nigeria: Investors Lose N4.23bn As Consumer Goods Stocks Decline
The equities market of the Nigerian Exchange Limited declined by N4.23bn at the end of trading on Monday amid selloffs in consumer goods stocks. The NGX All-Share Index declined by…
Chinese Stocks Rise As Data Shows China’s Exports In August Beat Expectations
Shares in Asia-Pacific were mixed in Tuesday trade, as data showed China’s August trade data came in above expectations. The Shanghai composite in mainland China rose 0.77% while the Shenzhen…
European Markets Head For Mixed Open, Reflecting Uncertain Sentiment Globally
European stocks are expected to open mixed on Tuesday, reflecting similar trade in their Asia-Pacific counterparts overnight. London’s FTSE is seen opening 22 points lower at 7,165, Germany’s DAX18 points…
El Salvador Bought $21 Million Of Bitcoin As It Becomes First Country To Make It a Legal Currency
El Salvador bought roughly $20.9 million worth of bitcoin, one day before it formally adopts the world’s most popular cryptocurrency as legal tender. In a series of tweets Monday, President…
Nigeria: Lotus Bank Expands With New Locations
LOTUS Bank has announced the opening of three new locations in Lagos State in a bid to expand its footprint in the country after receiving a licence to operate as…
$75m Investment Injected Into Ecobank
Ecobank Transnational Incorporated has announced the receipt of a $75m perpetual non-cumulative additional tier-1 capital investment from Arise B.V ETI announced this on Monday in a statement released to the…
NNPC To Sell Equity Stake From 2024
The GMD of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said the earliest the corporation can issue its Initial Public Offer (IPO) to investors is in three years.…
Yuguda: SEC Remits N1.5bn to FG, Assures of Profitability In Two Years
Following comments attributed to the Nigerian Senate that the Securities and Exchange Commission (SEC) was gradually becoming insolvent and could go bankrupt very soon, Director-General, of the SEC, Mr. Lamido…
Journey Towards Nigeria’s Digital Currency
Central banks in more than 70 countries are presently studying or at advanced stages of developing their Central Bank Digital Currency (CBDC), which are digital representations of fiat currencies developed…
Transcorp, Honeywell, Access, Others Lift NGX Turnover By N8.7b
Heavy transactions in the shares of Transnational Corporation of Nigeria (Transcorp) Plc, Honeywell Flour Mill Plc and Access Bank Plc last week, lifted the volume of shares traded, as a…
Telecos To Pay N200,000 For Failing To Verify NIN – NCC
The Nigerian Communications Commission has proposed a fine of N200,000 for mobile communications services providers that fail to verify and validate biometric, National Identity Number and other personal information of…
India, Netherlands, Spain Emerge Top Export Destinations for Nigeria’s Crude Oil
India, Netherlands and Spain have now filled the vacuum left by the United States as top buyers of Nigeria’s crude oil, according to a document obtained from the Nigerian National…
Nigeria: Oil And Gas Free Trade Zone Attracts $16.6bn Foreign Investments In 20 Years
The Oil and Gas Free Trade Zones Authority has attracted the sum of $16.6bn foreign direct investment into the economy within a 20-year period spanning 2001 to 2020. During the…
How Amazon’s Cloud Business Generates Billions In Profit
Every year since at least 2014, more than half of Amazon’s operating profit has come from the online retailer’s cloud division, Amazon Web Services, which provides online services and tools…
Apple’s Strategy To Fight Off Antitrust Regulators: Fix The App Store One Rule At a Time
In the past few weeks, Apple has madeseveral changes to its App Store rules, allowing a larger number of companies to access a lower commission rate or evade Apple’s mandatory…
Nigeria: Fintech Group Raises N2.2bn Series 1 Note
CapitalSage Technology Limited a Fin Tech company has raised a N2.2bn series 1 Private Company Notes issue, under its N10bn programme. In a press release, the company said the capital…
PawaPay Raises $9M seed Backed By MSA, 88mph And Mr Eazi’s Zagadat Capital
The capital will be deployed to scale pawaPay’s operational presence, find more talent to join the team, and expand into new markets on the continent. PawaPay app How pawaPay Works…
Stock Market Sheds N117bn As Investors Take Profits
The equities listed on the Nigerian Exchange Limited shed N117.03bn last week, with analysts attributing the market downturn to profit-taking by investors. The NGX All-Share Index and market capitalisation declined…
Pearl Capital And FCA Back Organic Agribusiness
Yield Uganda Investment Fund, an agribusiness impact vehicle managed by Pearl Capital Partners, and FCA Investments have committed €1.3 million ($1.54 million) to Uganda’s AMFRI Farms Ltd. AMFRI Farms, which…
Nigeria: Dangote Refinery To Increase Workforce To 57,000 employees
The Founder, Dangote Industries Limited, Alhaji Aliko Dangote has said the construction of the Dangote Petroleum Refinery is a result of his desire to help the Nigerian Government tackle the…
Agricorp Raises Mix Of Equity And Working Capital Financing
Agricorp International, Nigerian based spices producing, processing, and exporting company has raised $17.5 millionin Series A funding to increase its processing capacity up to 7000 metric tonnes. This fund was…
Amethis Sells Its 22% Stake In Sodigaz APC to African Infrastructure Investment Managers
Amethis is pleased to announce the sale of its minority stake in Sodigaz APC to African Infrastructure Investment Managers (AIIM). Sodigaz APC is the leading gas bottle (LPG) distributor in…
Warren Buffett-Backed Electric Carmaker BYD Sees August Sales Surge More Than 300%
BYD sold 61,409 new energy vehicles in August, more than four times the amount sold a year ago, as demand for electric cars continues to rise in the world’s largest…