Adidas joins Nike in announcing store closures over coronavirus
German sportswear maker Adidas (ADSGn.DE) on Tuesday joined rivals in announcing store closures in response to the…
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Oil drops to $28, as dollar exchanges for N369
The price of Brent crude oil, the international benchmark, further declined on Tuesday, trading around $28 per…
Economic council meets Buhari, warns of another recession
The Presidential Advisory Council on Tuesday warned about dire economic consequences for Nigeria if the raging…
China to expel New York Times, Wall Street Journal and Washington Post reporters
China has announced it will expel journalists from three US media outlets, in a major escalation of tensions with…
Spain unveils ‘unprecedented’ 200 billion euros coronavirus package
Spain announced a 200 billion euros ($220 billion) package on Tuesday to help companies and protect workers and…
Indian Contractor With Dangote Shows Symptoms of Corona Virus
An Indian contractor with Dangote with symptoms of Coronavirus has been rushed to the hospital for testing and…
CBN grants businesses one-year extension on loan repayment
The Central Bank of Nigeria on Monday announced policy measures to tackle the impact of coronavirus on the…
Rivers port set to receive first RoRo vessel
The Nigerian Ports Authority has announced that the Rivers port is set to receive its first Roll on/Roll off (RoRo)…
BREAKING: UEFA Postpones Euro 2020
UEFA has postponed the European Championship, due to take place across the continent in June and July this year,…
Slow global Internet connection imminent over work-from-home policies, streaming…
With many companies implementing a mandatory work-from-home policy as a precaution against coronavirus, widespread…
India closes Taj Mahal, Pakistan cases spike after quarantine errors
India closed the Taj Mahal, its principal tourist site, and the financial hub of Mumbai ordered offices providing…
Nigeria stocks record mid-day gain of N150bn despite Coronavirus fears
Equity investors at the Nigerian Bourse are buying value stocks despite renewed fear of Coronavirus (COVID19)…
FX market opens with dollar trading at N380
The foreign exchange market opened on Tuesday with the dollar trading at between N378 and N380 in Lagos black…
More pain for Nigeria as oil sinks to $29
With the international oil benchmark, Brent crude, falling below the $30 per barrel mark on Monday, the…
The global coronavirus recession is beginning
As restaurants, shops, airlines and factories shut down around the world, from New York to Paris and Madrid,…
Togo, Niger, Benin owe Nigeria N30bn for electricity
The Republics of Togo, Niger and Benin owe Nigeria a total of N29.97bn for the electricity supplied to them from…
The End of OPEC Is Here
OPEC may not survive to celebrate its own 60th birthday later this year. Saudi Arabia’s decision to abandon output…
Coronavirus threatening our debt servicing plans – DMO
The Debt Management Office on Monday raised the alarm that the outbreak of coronavirus was threatening the…
Why oil prices are crashing and what it means
Oil prices have suffered their biggest fall since the day in 1991 when American forces launched air strikes on…
Global airlines slash flights as US carriers seek $50 bn bailout
Major world airlines on Monday announced further deep cuts to service as the worsening coronavirus crisis ravages…
Amazon on hiring spree as coronavirus spurs demand
Amazon has said it will hire 100,000 warehouse and delivery workers in the US to deal with a surge in sales during…
Johannesburg Stocks Fall to 2013 Low as Virus Steps Worsen Woes
South Africa’s benchmark stock index fell to the lowest since July 2013 after President Cyril Ramaphosa’s…
Coronavirus Could End China’s Decades-Long Economic Growth Streak
China’s growth streak has lasted for decades, surviving the crackdown at Tiananmen Square, the global financial…
France Fines Apple $1.2 Billion for Antitrust Issues
France’s antitrust regulator on Monday fined Apple 1.1 billion euros, or $1.2 billion, putting more pressure on…
Coronavirus: Stocks plunge despite global central bank action
Global stock markets have sunk again despite central banks around the world announcing a co-ordinated effort to…
More African countries confirm first coronavirus cases as Jack Ma pledges aid
Chinese billionaire and Alibaba co-founder Jack Ma pledged to donate over 1 million coronavirus tests to Africa on…
Italy pumps cash into coronavirus-hit economy as death toll passes 2,000
Italy approved 25 billion euros ($28 billion) of spending measures on Monday to help the fragile economy survive…
Nigeria to delay proposed $3.3bn Eurobond on coronavirus concerns
Nigerian government will delay this year’s issuance of the $3.3bn it had initially planned because “the time is not…
Cowen expects Nike’s sales fall $3.5 billion for May quarter
Nike Inc’s (NKE.N) revenue could fall by a third in the fourth quarter, Cowen estimated, as the sportswear giant…
Egypt to halt flights from Thursday to stem spread of coronavirus
Egypt will halt all air traffic at its airports from Thursday until March 31 to prevent the spread of coronavirus