India’s Reliance Unveils $9.4 Bln Plan To Boost Oil To Chemicals.
Reliance Industries Ltd (RELI.NS), operator of the world’s biggest refining complex, will invest 750 billion rupees ($9.38 billion); over 5 years…
Author: akintunde
Maersk Agrees To Sell Stake In Russian Port Operator.
A.P. Moller-Maersk (MAERSKb. CO) said it has agreed to sell its 30.75% stake in Russian port operator Global Ports Investments (GLPRq. L) to Russia’s…
U.S. Govt To Provide $11 Mln For Production Of Monkeypox Vaccine.
The U.S. government said it would provide about $11 million to support the packaging of Bavarian Nordic’s (BAVA. CO) Jynneos monkeypox vaccine…
Ukraine Strike Hits Fuel Depot At Zaporizhzhia Nuclear Plant.
Officials installed by Russia in Ukraine said that a Ukrainian missile strike punched a hole in the roof of a…
China’s Top Airlines Post Steep Q2 Losses On COVID Curbs
China’s three biggest airlines posted a combined 28.4 billion yuan ($4.12 billion) second-quarter loss. Wider than in the first quarter,…
Fintech Firm, Wise Fined $360,000 By Abu Dhabi Regulator.
The regulator of Abu Dhabi’s free zone financial centre said it had fined the local subsidiary of fintech firm Wise…
Nigerian Economy Shrinks By N63bn, 28 Sectors Struggle.
Twenty-eight sectors of the economy declined in the second quarter of 2022 as real Gross Domestic Product shrunk by N63.49bn…
Nigeria’s Electricity Sector Dips By 11.5% In Q2 2022 Following Multiple Grid Collapses.
The latest GDP report for the second quarter of 2022 released by the National Bureau of Statistics (NBS); showed that…
Nikola To Raise Up To $400 Mln In Stock Sale.
Nikola Corp (NKLA. O) said it may sell shares to raise up to $400 million, as the electric truck maker looks to…
According To The NNPC Chief, Churches And Mosques Are Housing Stolen Nigerian Petrol.
Every section of Nigerian society is complicit in the theft of millions of barrels, the head of state oil company…
HSBC Hires Justin Wu As Asia-Pacific Co-Head Of Climate Change.
HSBC (HSBA. L) has hired Justin Wu as its first co-head of climate change Asia Pacific to lead the development and implementation…
Forex Supply Falls Further To $54 Million As Exchange Rate Remains Stable.
Monday, 29th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1; at the Investors and…
Seplat Energy Shareholders Lose N71 Billion.
Investors of Seplat Energy Plc recorded a loss of about N70.56 billion from trading in the shares of the company.…
German gas storage progress better than expected.
Germany is making better progress than expected in filling its gas storage facilities; but it’s not enough to get the…
Elon Musk: Aims To Have Self-Driving Teslas Ready By Year-End In The U.S.
Tesla (TSLA.O) founder Elon Musk said he aimed to get self-driving Teslas ready by year-end; and hopes they could be in wide…
Gas Prices To Fall Soon As Germany Hits Storage Targets.
German Economy Minister Robert Habeck expects gas prices to fall soon as Germany is making progress on its storage targets;…
Bitcoin Dips Below $20,000.
Bitcoin dipped below $20,000, continuing a drop that has taken it down nearly 60% from its year high. Bitcoin ,…
Ericsson To Wind Down Business Activities In Russia
Ericsson (ERICb. ST) said it will gradually wind down business activities in Russia; as the Swedish telecoms equipment maker completes its obligations…
Firms Buy Sh9.5bn Safaricom Stake.
Local institutional investors have acquired shares worth Sh9.5 billion in Safaricom following the exit of domestic shareholders and foreigners; reversing…
Russia Says It Shot Down Ukrainian Drone.
Russia’s defence ministry said Russian forces shot down a Ukrainian drone; which was trying to attack the Zaporizhzhia nuclear plant,…
Finnair Partners With Qatar Airways In Search Of New Routes.
Finnair (FIA1S. HE) will establish a strategic partnership with Qatar Airways; to open up new routes from Nordic capitals to the Qatari…
Nigeria’s N20.4 trillion Imports In 2021 Not Enough To Lift Economy – Economists.
Despite the hues and cries about Nigeria being an import-dependent economy over the years, and importing goods worth over N20…
Dollar Scarcity: Manufacturer’s Panic.
Fear of a dollar shortage has driven manufacturers to front-load their inventory requirements. Therefore, creating the illusion of economic growth…
The World Still Needs Oil And Gas – Elon Musk.
The world must continue to extract oil and gas in order to sustain civilisation, while continuing to also develop sustainable…
Nigerians Drink Beer Worth N599.11 Billion In 6 Months.
Nigerians drink beer worth N599.11 billion in six months running from January t0 June 2022, according to the first quarter…
Bitcoin Drops To Lowest Level, Crypto Market Loses $70 Billion.
As a result of Federal Reserve Chair, Jerome Powell’s comments that the U.S. central bank may continue hiking interest rate;…
SWOOTs Capitalization Up By N254 Billion.
The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 1.30% to close at N19.75 trillion from…
NFT Market Fails To Hit $1 Billion In Trades For The First Time Since June 2021.
The NFT market in the last 4 months, has been on a bearish trend as many have suggested that the…
Trapped Fund: Respite As CBN Releases $265m To Foreign Airlines.
In a move to check a brewing crisis in the country’s aviation sector, the Central Bank of Nigeria (CBN), released…
Flight suspension: British Airways Says Its Operations Would Continue As Scheduled.
British Airways has restated its commitment to fully serve the Nigerian market. Recall that Nairametrics had earlier reportedthat the airline was…