President Xi Says China To Set Up Stock Exchange In Beijing
China’s President Xi Jinping on Thursday (Sept 2) said the country would set up a stock exchange in its capital, Beijing, to serve small and medium-sized companies. “We will continue…
WhatsApp faces $267M Fine For Breaching Europe’s GDPR
It’s been a long time coming but Facebook is finally feeling some heat from Europe’s much trumpeted data protection regime: Ireland’s Data Protection Commission (DPC) has just announced a €225…
South Africa:Telkom’s Openserve Unit to Terminate DSL Services From 1 October
Telkom South Africa’s Openserve wholesale unit has informed its ISP partners of its plan to cease offering copper-based services from next month. As part of the notice, Openserve said it…
Nigerian Communications Commission (NCC) To Hold Public Inquiries On Three Draft Regulations
The Nigerian Communications Commission (NCC) will hold a public inquiry on three draft regulations and guidelines concerning the country’s telecoms market. Interested stakeholders have been invited to make written submissions…
Central Bank Of Nigeria Clarifies Reports of Non-Remittance of 80% surpluses into Consolidated Revenue Fund
The Central Bank of Nigeria (CBN) has denied allegations that it failed to remit 80 per cent of its operational surpluses into the Consolidated Revenue Fund (CRF) in the last…
Banning Fossil Fuel Investments Will Hurt Nigeria
The Vice-President, Prof. Yemi Osinbajo, has said the banning or restriction by a growing number of wealthy nations of public investment in fossil fuels, including natural gas, will hurt Nigeria.…
NAICOM Stops Manual Processes For Insurance Companies
The National Insurance Commission has issued a directive to transit from manual to online processing and all operational activities including submission and processing of requests from insurance companies. According to…
China Bans Reality Talent Shows
China banned reality talent programmes Thursday and ordered broadcasters to promote more masculine representations of men, in a wide-ranging crackdown on “immoral” pop culture Beijing believes is leading young people…
Nigeria’s Eurobonds Debts Rise By $9.37bn In Five Years
Commercial loans obtained by Nigeria through Eurobonds rose from $1.50bn as of December 31, 2015 to $10.87bn as of December 31, 2020, indicating a $9.37bn or 625 per cent increase…
Stock Futures Are Muted as September Gets Off To a Slow Start
U.S. stock futures were little changed early Thursday morning after the S&P 500 finished the first trading session of the month near the flatline. Dow Jones Industrial Average futures were…
Nio And Xpeng Deliveries Fall in August As Chip Shortage Hits China’s Electric Carmakers
Nio and Xpeng deliveries dropped in August as the chip shortage and supply chain constraints hit the Chinese electric vehicle makers. Li Auto was the only company out of the…
European Markets Lackluster As Markets Gear Up For U.S. Jobs Data; Swedish Orphan Biovitrum Up 24%
European stocks edged higher on Thursday morning as investors geared up for the next reading of U.S. nonfarm payrolls which is due Friday. The pan-European Stoxx 600 added 0.3% by…
European Central Bank To Announce Tapering In December, Analysts Say
The European Central Bank will announce the reduction of its Covid-related stimulus in December, four analysts told CNBC amid an economic improvement in the euro zone. In the United States,…
S&P 500 Closes Flat On First Day Of September, Nasdaq Ekes Out A Record Close
The S&P 500 closed the first trading day of September near the flatline as the strength in technology shares faded, while investors digested a disappointing employment report. The broad equity…
Private Payrolls Increase By Just 374,000 in August, Far Short Of The 600,000 Estimate, ADP Says
U.S. companies created far fewer jobs than expected in August as the Covid resurgence coincided with cutbacks in hiring, according to a report Wednesday from payroll services firm ADP. Private…
Shares In Asia-Pacific Mixed; Australia Records Higher-Than-Expected Trade Surplus In July
Shares in Asia-Pacific were mixed in Thursday trade as Australia reported a higher-than-expected trade surplus in July. The S&P/ASX 200 in Australia shed 0.72%. Australia recorded a trade surplus of…
Apple Will Let Some Apps Guide Users To Websites To Make Payments, Bypassing Apple’s Cut
Apple on Wednesday said that some apps will be allowed to provide a link to their websites to prompt users to sign up for a subscription. Apple previously forbid app…
Chinese Regulators Summon 11 Ride-Hailing Firms, Including Didi, Over ‘Illegal Behavior’
Chinese regulators have summoned and interviewed 11 ride-hailing firms asking them to rectify non-compliant behavior. The Ministry of Transport, along with a number of other regulators including the Cyberspace Administration…
Nigeria: NNDC’ll Pay Shareholders Dividend, Says Chairman
The Chairman, Board of Directors of New Nigeria Development Company Limited, Tanimu Yakubu, has said the company’s shareholders will receive dividends after a very long period. Yakubu said this while…
Financials Took S&P 500 Leadership In August, And Traders See Continued Strength In Two Stocks
Financials led the market in a red-hot rally in August. The sector gained 5% last month, narrowly edging out communications services as the top performer of the S&P 500. “The…
Virgin Galactic ‘Could Really Take Off’ If It Breaks Above This Level, Trader Says As Space Stock Gets Analyst Love
Virgin Galactic could be setting up for a sustained move higher. Jefferies initiated coverage of the space travel stock with a buy rating on Tuesday, sending shares nearly 9% higher…
Stocks Making The Biggest Moves Midday: Uber, Apple, Wells Fargo And More
Ambarella — Shares of the semiconductor company surged 20% after Ambarella beat expectations on the top and bottom lines for its second quarter. The company reported 35 cents in adjusted…
OPEC, Other Meet To Decide On Production Increase
The Organisation of the Petroleum Exporting Countries and its allies will meet on Wednesday (today) to decide whether to press on with plans to increase crude oil production by 400,000…
US Ready To Identify Boko Haram Sponsors
The United States has expressed its readiness to help Nigeria to identify sponsors of terrorism in the country. The US Ambassador to Nigeria, Mary Leonard, disclosed this on Monday during…
Central Bank Of Nigeria Urges NLC and TUC To Support Its 5-Year Economic Strategy
The Central Bank of Nigeria (CBN) has urged the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to back its five-year economic growth strategy. This was revealed by…
Experts Peg Nigeria’s Infrastructure Gap at $3tn
Research experts have estimated that Nigeria has an infrastructure gap of $3 trillion, which according to them is about six times the size of the country’s annual Gross Domestic Product…
Nigeria To Launch $3bn Eurobond On October 11, With Lagos, NY Roadshows
The federal government has set October 11, as the date to shop for new creditors to help finance the 2021 budget deficit. This is according to reports from Reuters on…
Central Bank of Nigeria Engages British fintech To Develop Digital Currency
The Central Bank of Nigeria, on Monday, announced the formal engagement of a global fintech company, Bitt Inc., as the technical partner for its digital currency. The CBN said the…
Champion Breweries, Eterna Others Drag Capitalisation Of The Nigerian Stock Exchange By N83b
The Nigerian Exchange Limited (NGX) reopened on a downward note yesterday, occasioned by losses incurred by most blue-chip stocks, especially by Champion Breweries and Eterna Plc, as market capitalisation depreciated…
Nigeria: United Capital Lists N20b Commercial Papers
United Capital Plc has listed three series commercial papers worth about N19.72 billion on the FMDQ Securities Exchange, paving the way for investors in the short-term securities to trade on…