Nigeria spends N1.7 trillion to import fuel in 2019
Nigeria spent N1.713 trillion on the importation of Premium Motor Spirit, also known as petrol, in 2019, according to data…
Author: Ekemini
Dow rebounds 1,167 points a day after suffering worst plunge since financial crisis
US stocks surged into the close to end a volatile session on Tuesday. Sharp mid-day fluctuations came as investors weighed…
Coronavirus: £130bn wiped off FTSE 100 in minutes
The FTSE 100 has seen more than £130bn wiped from the value of its constituent companies within minutes, in…
Nnewi: Nigeria’s self-made Industrial hub
Nnewi is not a tier-one city in Africa, and not in Nigeria. Even within Anambra, it is masked by the…
Oil prices plunge below $35, Saudi Arabia triggers price war
Saudi Arabia rattled the already depressed oil market to its foundation early Monday after unilaterally slashing prices and promising to…
Much worse than 2008 Global Financial Crisis?
The breathtaking volatility that has rocked the stock market for two weeks is rippling through other asset classes — and…
Saudis Plan Big Oil Output Hike, Beginning All-Out Price War
Saudi Arabia plans to increase oil output next month, looking to boost it well above 10 million barrels a day,…
Aramco Drops Below IPO Price in Blow to Saudi Economic Plan
Saudi Aramco shares dropped below their IPO level for the first time as a looming price war in global crude markets…
South African President appoints Okonjo-Iweala member SA Economic Advisory Council
Ngozi Okonjo-Iweala, Nigeria’s former minister of finance, was at South Africa’s presidential economic advisory council meeting in Tshwane on Friday.…
Silk roadblock: coronavirus exposes Nigeria’s reliance on China
Yetunde Oluyide has run a gift shop in bustling Lagos for nearly a decade, but with coronavirus curtailing imports of…
5 Steps to Making a Profit in Crude Oil Trading
Crude oil trading offers excellent opportunities to profit in nearly all market conditions due to its unique standing within the…
No One Wants to Be a Nigerian Stock Trader as Volumes Plunge
Stockbrokers are out of fashion in Nigeria. Not a single company registered to become a dealer on the West African…
The U.S. May Already Be in a Recession
Let’s just say it: The longest economic expansion in U.S. history may already be over, killed by Covid-19. It might…
Tech companies have canceled some high-profile conferences, causing an estimated economic loss of $666 million amid coronavirus concerns.
Tech companies have canceled some high-profile conferences, causing an estimated economic loss of $666 million amid coronavirus concerns. Here’s what’s…
Traders Dust Off Old Disaster Hedge With Virus Fear Escalating
When markets are in turmoil, traders turn to their favourite hedges. They’re going for a classic form of protection against…
South Africa’s rand steady in calm trade after coronavirus slide
South Africa’s rand traded slightly firmer early on Friday, recovering from a sharp dip in the previous session after the…
Gucci cancels fashion cruise due to rising coronavirus concerns
Fashion house, Gucci, has cancelled its Cruise 2021 show due to the ongoing Corona virus (covid-19) outbreak. Newsmen reports that…
Coronation Merchant Bank declares N5.09bn profit after tax for 2019
Coronation Merchant Bank Limited on Thursday announced a profit after tax of N5.09 billion for the financial year ended Dec.…
Foreign investment inflow reverses trend
Foreign Direct Investment (FDI) into Nigeria may have returned to the downward trend after a mild recovery in 2018. The…
Coronavirus: Fear returns to stock markets
Global stock markets have fallen sharply as investors continue to worry about the broader economic effects of the coronavirus. London’s…
StanChart grows full-year profit by eight per cent
Standard Chartered (StanChart) has grown its full year 2019 profit by eight per cent and improved earnings per share by…
Unity Bank introduces USSD in Nigerian languages
Unity Bank Plc has launched an Unstructured Supplementary Service Data, USSD banking in Nigeria’s three major languages – Yoruba, Hausa…
Stanbic IBTC nets N75b profit in 2019
Stanbic IBTC Holdings Plc recorded a net profit of N75.04 billion in 2019 as the financial holding company sustained steady…
Union Bank pays first dividend in 11 years
Union Bank of Nigeria (UBN) Plc on Thursday announced a dividend recommendation of about N7.3 billion for the 2019 business…
US markets in sharp drop amid rollercoaster over coronavirus
US stock markets closed sharply lower again on Thursday as fears about fallout from the virus outbreak sent more shudders…
Embattled Twitter chief Dorsey reconsiders Africa move amid coronavirus concerns
Twitter Inc (TWTR.N) Chief Executive Officer Jack Dorsey said on Thursday he is reconsidering a proposed stint in Africa this…
OPEC seeks big oil cut in crunch talks with Russia amid virus outbreak
OPEC holds crunch talks with its allies on Friday after the group told Russia and others it wanted an additional…
FX intervention pressure mounts on Brazil central bank to sell dollar reserves
Brazil’s currency is weakening so quickly the central bank may soon be forced to set aside its free-market principles and…
IMF: coronavirus means 2020 growth will be lower than 2019
The International Monetary Fund is to offer $50bn (£39bn) in emergency funding for countries hit by the coronavirus, as it…