U.S. Exim Bank Out To Displace China After Record Loan In Africa
Bank finalizes $4.7 billion loan for Mozambique gas project Support could range from power systems to telecommunications The Export-Import Bank…
Author: Ekemini
Nigeria: FEC Approves $18.12m For Purchase Of Cargo Scanners To Ease Ports Operations
The Federal Executive Council (FEC), on Wednesday approved the purchase of scanners for the Port Harcourt and Tin Can Island…
CBN Launches New Schemes For Non-Interest Financial Institutions
The Central Bank of Nigeria(CBN) has introduced intervention schemes to cater for non-interest financial institutions (NIFIs). It said in a…
Bullish Bets On Most Asian Currencies Climb On Vaccine Hopes, China Stability
Investors raised their long bets on the Chinese yuan and most other Asian currencies, a Reuters poll showed, as signs…
Pandemic Hit To Haj Saddens Would-Be Pilgrims
This year’s haj will be a time of sadness for many Muslims around the world prevented from travelling to Saudi…
Demand For Jail Sentence In Shell And Eni Nigeria Oil Trial
Italian prosecutors are calling for lengthy jail terms to be handed down to the boss of Eni and one of…
South Korea Enters Recession As Exports Plunge By Most Since 1963
The South Korean economy plunged into recession in the second quarter in its worst decline in more than two decades…
China Says UK Citizenship Pathway For Hong Kong Residents Violates International Law
A new British policy allowing Hong Kong residents to claim British citizenship is a violation of international law and interferes…
FG’s July Bonds Oversubscribed By N340.13bn
The Federal Government Bonds for the month of July worth N130bn, which were auctioned on Wednesday, were oversubscribed by N340.13bn,…
China’s Latest Starfish-Shaped Airport Set To Boost Tourism In Northeast
Qingdao, a Chinese coastal city famous for being the headquarters of Tsingtao Brewery, is poised for a major tourism boost with…
UK Airports Lost £10,000 Per Minute Between March And June
‘This should serve as a wake-up call to government and lead them to finally grasp the severity of the challenge,’…
IMF Approves Temporary Increase In Annual Access Limits To Financial Support
The Executive Board of the International Monetary Fund (IMF) on Wednesday approved a temporary increase in the annual limits on…
CBN – Economy Recorded U.S.$42.7 Billion Forex Inflow In First Quarter
The aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter (Q1) 2020 was $42.71 billion, the…
Africa Starts To Have Second Thoughts About That Chinese Money
Dipak Patel can still recall the dizzying grandeur of his 2003 visit to Beijing’s cavernous Great Hall of the People:…
Sterling Edges Lower On No-Deal Brexit Reports, Gloomy Economic Prospects
The British pound fell on Wednesday on rising concern that the Brexit transition period will end without a deal between…
Currency Markets Resume Risk-On Rally, Shrugging Off U.S.-China Consulate Spat
Currency traders regained their risk appetite on Wednesday, shrugging off U.S.-China tensions and resuming the risk-on moves that have dominated…
Naira Weakens Despite Dollar Selloff
As the worldwide race for a coronavirus vaccine gathers pace and fiscal stimulus uplifts global sentiment, investors seem to be…
China Vows Retaliation After U.S. Shutters Houston Consulate
Beijing calls U.S. decision ‘unprecedented escalation’ State Department says move to protect intellectual property China vowed retaliation after the U.S.…
CBN Approves N50b Revival Fund For Textile Industry
The Central Bank of Nigeria (CBN) has announced N50 billion special mechanism funds to revive the ailing textiles industry. The…
Nigeria: Federal Govt Records N1.46tn Revenue Deficit In Q1
Gross federally-collected revenue fell by 36 per cent or N1.46tn below the quarterly budget estimate in the first quarter of…
Nigeria: Sirika Projects Resumption Of International Flights Before October
The Minister of Aviation, Senator Hadi Sirika, has rejected the October 15 date fixed for the resumption of international flights…
Nigeria: Kano Cancels Eid-Del-Kabir Festivities
The Kano State Government has ordered the cancelation of traditional Sallah festivities in this year’s Eid-del-Kabir in the state, as…
CBN: Economy Recorded $42.7bn Forex Inflow In First Quarter
The aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter (Q1) 2020 was $42.71 billion, the…
Nigeria: NPA Halts Licences Renewal For Shipping Firms Over Holding Bay Crisis
The Nigerian Ports Authority (NPA), has stopped the renewal of licences for shipping firms who fail to provide holding bays…
Nigeria: “Third Mainland Bridge” Local Manufacturers Raise Concern About Alternative Routes
Local manufacturers, especially those in the Apapa zone, have expressed concerns about challenges that the closure of the Third Mainland…
FMDQ Securities Records N117tn Turnover In Six Months
9The FMDQ Securities Exchange recorded total turnover of N117.27 trillion in the Fixed Income and Currency (FIC) from January to…
Nigeria Targets Processed Cocoa Exports With $10 Million Plant
Nigeria’s southeastern Cross River state is setting up a 4-billion naira ($10-million) cocoa-processing plant to start operations in August and…
Italian Prosecutors Seek Jail For Eni, Shell Executives In Nigeria Case
Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former…
Naira Exchanges At N472 To Dollar At Parallel Market
The Naira on Tuesday exchanged at N472 to a dollar at the parallel market in Lagos, the News Agency of…
Nigerian International Airports Not Shut Till October – NAMA
The Nigerian Airspace Management Agency (NAMA) has declared untrue the insinuation making the rounds that the Nigerian Airports will remain…