Nigeria: Ending Subsidies Puts Nigeria On Fiscal Sustainability Path
A former Governor of the Central Bank of Nigeria (CBN) and a former Emir of Kano, Sanusi Lamido Sanusi, has called on the federal government to stop subsidising power and…
Nigeria: Facebook Extends Marketplace Initiatives To 37 SSA Countries
Facebook has extended its marketplace initiatives to 37 countries and territories in sub-Saharan Africa. Already available in South Africa, Ethiopia, Kenya and Nigeria, the new destinations are Benin, Botswana, Burkina…
South Africa, Namibia, Nigeria Top Global Unemployment Rates – Report
Nigeria has the third highest unemployment rate at 33.3 per cent, while South Africa has the highest rate among a list of 82 countries, Bloomberg reported on Tuesday. According to…
Nigeria: NGX Securities Lending Market Value Rises To N513m
According to NGX’s most recent report, there has been an uptick in stakeholders’ participation as 2.3 million units of MTNN valued at N395.6 million was borrowed. Securities lending is the…
Nigeria: Capitalisation Rises By N13 Billion As NGX Marks Diamond Jubilee
Despite price losses that outweighed gains, the bulls upstaged the bears at the end of yesterday’s transactions on the equities sector of the Nigerian Exchange Limited (NGX), as market capitalisation…
Nigeria: Collaboration Between Registrars And Capital Market Operators, Key To Solving Unclaimed Dividends
Collaboration between Registrars and Capital Market Operators is vital to reducing the high cases of Unclaimed Dividends in Nigeria. The Managing Director/CEO of Africa Prudential Plc, Mr. Obong Idiong, made…
Hunters Brings In $30M Series B To Grow XDR Security Tech
With the growing volume of ransomware and supply chain security attacks, there is a need for organizations to more rapidly detect threats. It’s that opportunity that startup Hunters is looking…
Stocks, Futures Steady; China Tech Rebound Stalls: Markets Wrap
Stocks and U.S. futures were steady as a rebound in Chinese technology shares stalled and markets settled into a holding pattern ahead of the Federal Reserve’s Jackson Hole policy symposium…
European Shares Subdued Ahead Of Fed Summit
European markets were muted on Wednesday, tracking global sentiment as investors await a key meeting of central bankers. The pan-European Stoxx 600 inched 0.15% higher in early trade, with travel…
The U.S. Is Reviewing Its Trade Policy With China
Seven months since U.S. President Joe Biden took office, his administration has yet to establish a trade policy with China. U.S. Trade Representative Katherine Tai said Tuesday the “Biden-Harris Administration…
Treasury Yields Edge Higher As Investors Gear Up For Fed Summit
U.S. Treasury yields edged higher on Wednesday morning, as investors geared up for the Federal Reserve’s Jackson Hole symposium. The yield on the benchmark 10-year Treasury note added less than…
Biden To Host Tech, Finance And Energy CEOs For Security Summit At White House Following Wave Of Cyberattacks
President Joe Biden will meet Wednesday with top executives from several of the largest companies in tech, financial services, insurance, energy and education to discuss how to combat cybersecurity threats.…
Stocks Making The Biggest Moves In The Premarket: Best Buy, Palo Alto Networks, Camping World And More
Best Buy (BBY) – Best Buy shares rallied 4.3% in the premarket after the electronics retailer beat estimates on the top and bottom lines for the second quarter. Best Buy…
China’s Cyberspace Regulator Lays Out Two Main Conditions For Companies Wanting To Go Public
Chinese companies wanting to go public — including overseas — must comply with two main aspects of a wider set of regulations, the vice minister for the country’s cybersecurity regulator…
Stocks Are Getting A Delta Peak And Growth Slowdown Wrong, Market Bull Jim Paulsen Says
There may be a new reason to follow the smart money. According to The Leuthold Group’s Jim Paulsen, the stock and bond markets have been delivering opposing messages about the…
Best Buy Shares Rise On Earnings Beat, Retailer Says Consumers Are Upgrading Tech To Work At Home
Best Buy said Tuesday fiscal second-quarter sales rose nearly 20% as consumers continued upgrade devices and equipment to support habits formed during the pandemic — from hybrid work to streaming…
Nigeria: FG Earned N1tn from Digital Economy in Two Years, 5G 95% Ready For Deployment
The Minister of Communication and Digital Economy, Dr. Isa Pantami, yesterday said the communication and digital sector generated over N1 trillion to the federal government between 2019 and 2021. This…
Nigeria: 1.2 Million Subscribers Changed Mobile Service Providers – NCC
The number of subscribers that left their mobile telecommunications service providers for other mobile networks rose to 1,222,124 in June 2021, data collated from the Nigerian Communications Commission show. In…
IMF’s $650bn Reserves Liquidity Support For Nigeria, Others Takes Off
The International Monetary Fund (IMF) has announced the take-off of its $650 billion set aside under its special drawing right (SDR) to provide liquidity to countries with foreign exchange reserves…
Nigeria: FG To Unveil Five-Year Development Plan In October
The Federal government on Monday disclosed plans to unveil the Medium-Term National Development Plan 2021-2025 in October. According to the Minister of State for Finance, Budget and National Planning, Clem…
Fintech Has The Potential To Change The Capital Market – NGX
Nigeria’s financial technology companies have a huge potential to transform the capital markets and effectively build a digital economy. This was disclosed by the Chief Executive Officer of the Nigerian…
Nigeria: United Capital Increases Issuance of CPs to N50bn
United Capital Plc has notified the Nigerian Exchange Limited (NGX) that it has secured the approval of FMDQ Securities Exchange Limited to increase in the size of its existing N20…
Airbnb Says It Will Host 20,000 Afghan Refugees
CEO Brian Chesky said Tuesday that the program would begin immediately, and that Airbnb would pay for the stays. “The displacement and resettlement of Afghan refugees in the US and…
Chinese Electric Carmaker Xpeng Starts Exporting Flagship P7 Sedan For The First Time
Xpeng Inc. began shipping its flagship P7 sedan to Europe on Tuesday, underscoring the Chinese electric carmaker’s ambitions to expand internationally. The shipment of P7 models will be sent from…
World Leaders Prepare For Emergency G-7 Meeting On Afghanistan As U.S. Withdrawal Deadline Nears
British Prime Minister Boris Johnson will host an emergency meeting of G-7 leaders Tuesday to address the chaotic situation in Afghanistan and what their next moves will be. The G-7…
Elon Musk Says SpaceX Has Shipped 100,000 Starlink Terminals
Elon Musk said in a series of tweets on Monday that his aerospace venture, SpaceX, has shipped 100,000 Starlink terminals so far, and is now serving 14 countries with license…
Walmart Launches Delivery Business To Connect Other Local Retailers With Consumers
Walmart on Tuesday announced the launch of a delivery service called GoLocal, which will carry goods from other local retailers to consumers. The company said it expects to begin shipping…
European Markets Edge Higher On Pfizer Vaccine Approval And Easing Taper Worries
European stocks edged higher on Tuesday as investors took heart from the U.S. Food and Drug Administration’s full approval of the Pfizer/BioNTech vaccine and calming worries about imminent tapering from…
Chinese Tech Stocks Rally As JD.com Surges 13%, Tencent Climbs 7%
Hong Kong-listed Chinese tech stocks staged a huge rally Tuesday as investors got a little more clarity on the regulatory outlook and bought some of the names that have taken…