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 barrel, it’s lowest…
Author: Ekemini
Economic council meets Buhari, warns of another recession
The Presidential Advisory Council on Tuesday warned about dire economic consequences for Nigeria if the raging coronavirus infection was not contained as quickly as possible.
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 Washington. The…
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 other vulnerable…
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 diagnosis.
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 businesses and…
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, until…
Slow global Internet connection imminent over work-from-home policies, streaming demand
With many companies implementing a mandatory work-from-home policy as a precaution against coronavirus, widespread adoption could lead to global Internet…
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 non-essential services to keep half their staff at home in ramped up measures to curb the coronavirus in South Asia.
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) following its third case…
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 markets.…
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 oil-dependent Nigerian economy…
The global coronavirus recession is beginning
As restaurants, shops, airlines and factories shut down around the world, from New York to Paris and Madrid, economists are warning that a global recession is no…
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 restraint and flood…
Coronavirus threatening our debt servicing plans – DMO
The Debt Management Office on Monday raised the alarm that the outbreak of coronavirus was threatening the arrangement put in place to service the nation’s debts.
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 Iraqi troops following their invasion of Kuwait.
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 demand
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 the coronavirus pandemic.
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 declaration of a national…
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 crisis and the trade…
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 the company as…
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 ease the effects…
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 Monday
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 the onslaught of coronavirus as the death toll in Europe’s worst-affected country jumped above 2,000.
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 ripe”, Finance minister, Zainab Ahmed said on Monday.
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 reels from store closures, supply disruptions and the suspension of this year’s NBA season due to the coronavirus pandemic.
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
CBN Policy Measures In Response To COVID-19 Outbreak And Spillovers
March 16, 2020 The Corona Virus (COVID 19) pandemic is having significant adverse consequences for both the global and the…