Hong Kong Markets Drop Over 2% Amid U.S. Economic Uncertainty, Asia’s Stock Performance Mixed
Hong Kong’s stock market took a significant hit on Friday, with the Hang Seng Index plunging 2.19% to end the…
Category: Business
Sabotage of Trans-Niger Pipeline Threatens Nigeria’s Oil Production Recovery
Recent sabotage of Nigeria’s Trans-Niger Pipeline (TNP) has raised concerns over the country’s oil security just as it was making…
Naira Holds Steady Against Dollar in Black Market, Slightly Depreciates Officially
The naira remained stable against the dollar at the parallel foreign exchange market on Thursday, closing at N1,585 per dollar,…
Nigerian Stock Market Sees N35bn Loss Amid Persistent Sell Pressure
Investors in the Nigerian stock market experienced a significant setback on Thursday, with a loss of N35 billion in market…
Naira Faces Growing FX Liquidity Risk Amid Economic and Geopolitical Challenges
The Nigerian naira is facing increasing pressure in the foreign exchange market as it depreciated to N1,580/$ in the parallel…
Japan’s Core Inflation Hits 3%, Boosting Expectations of BOJ Rate Hike
Japan’s core inflation rate reached 3.0% in February, maintaining pressure on the Bank of Japan (BOJ) to consider further interest…
Bank of Ghana Faces Tough Decisions Amid Economic Challenges
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will hold its 123rd meeting starting March 24, 2025,…
FCMB Expands Presence with New Branch in Ogbomosho
First City Monument Bank (FCMB) has officially opened a new branch in Ogbomosho, aimed at boosting financial inclusion and economic…
Nigeria and India Strengthen Economic Ties: Focus on Trade, Investment, and Key Sectors
Nigeria and India have reaffirmed their commitment to deepening bilateral relations, focusing on trade, investment, and cooperation in sectors like…
NGX Market Cap Drops to N65.8tn Amid Weak Investor Sentiment
The Nigerian Exchange (NGX) saw a decline in market capitalisation, dropping to N65.8 trillion as the All-Share Index fell by…
Tinubu Appoints Board for Nigerian Power Operator
President Bola Tinubu has appointed the board members for the newly established Nigerian Independent System Operator (NISO) to help improve…
Rwanda’s Economy Expands 8.9% in 2024, Driven by Strong Agricultural and Industrial Sectors
Rwanda’s economy experienced significant growth in 2024, expanding by 8.9%, surpassing the previous year’s 8.2% increase. This robust performance was…
Ghana’s Top 10 SOEs Report GHC11bn Loss in 2023
In 2023, Ghana’s 10 largest State-Owned Enterprises (SOEs) by asset base reported a combined net loss of GHC11 billion, according…
Nigerian Breweries Completes 100% Acquisition of Distell Wines and Spirits Nigeria
Nigerian Breweries Plc has finalized the acquisition of the remaining 20% stake in Distell Wines and Spirits Nigeria Limited (DWSN),…
Dangote Refinery Halts Naira-Based Petrol Sales Amid Currency Mismatch
Dangote Petroleum Refinery has announced a temporary suspension of its petroleum product sales in Naira. This decision stems from a…
OADC to Build $240M Hyperscale Data Centre in Lagos, Boosting Africa’s Digital Infrastructure
Open Access Data Centres (OADC), a subsidiary of WIOCC, has announced a significant investment of $240 million to build a…
65.5% of Nigerians Advocate for Lower Lending Rates, CBN Survey Reveals
A new survey by the Central Bank of Nigeria (CBN) has revealed that 65.5% of Nigerian households support a reduction…
Microsoft to Launch Three Data Centres in Malaysia by Mid-2025
Microsoft has announced plans to launch its first cloud region in Malaysia, with three data centres set to go live…
GSM Maintains Dominance as Active Data Internet Subscribers in Nigeria Reach 142 Million
As of January 2025, Nigeria’s active data internet subscribers reached 142.16 million, according to the Nigerian Communications Commission (NCC). The…
GIADEC Seeks Global Partnerships to Boost Ghana’s Integrated Aluminium Industry
The Ghana Integrated Aluminium Development Corporation (GIADEC) is actively seeking partnerships with global investors to support its vision of developing…
Naira Gains Slightly to 1530.52/$ Amid Stability Efforts and Structural Reforms
The Nigerian naira showed a marginal appreciation of 0.16% on Wednesday, closing at 1530.52/$ compared to the previous day’s rate…
Nigeria’s Telecom Sector Faces Declining Revenue as Currency Depreciation Hits ARPU“““““““““`
Nigeria’s telecommunications market has seen a significant downturn, with the average revenue per user (ARPU) falling by 38.79% in 2024.…
Ghana Must Strengthen Domestic Bond Market to Reduce External Borrowing – Terkper
In a recent address at the PricewaterhouseCoopers (PwC) 2025 Budget Digest Forum, Presidential Advisor on the Economy, Seth Terkper, emphasized…
Insurance Brokers Eye Opportunities in $490B AfCFTA Market Amid Regulatory Concerns
As Nigeria joins 54 other African nations in advancing a single trade area under the African Continental Free Trade Area…
Finance Minister Pledges Support for Private Sector Growth in Meeting with Dangote
The Federal Government has reaffirmed its commitment to fostering a business-friendly environment to stimulate private-sector investments and boost economic growth…
Nigeria’s Crypto Future: Stronger Regulations to Boost Investment, Says FlashChange CEO
The Chief Executive Officer of FlashChange, Bidemi Oke, discussed the growing role of cryptocurrencies in Nigeria’s financial landscape, emphasizing that…
Big Tech’s Data Center Surge Sparks New Risks for U.S. Power Grid
The rapid expansion of data centers in the U.S., particularly in regions like Data Center Alley near Washington D.C., is…
Fed Holds Interest Rates Steady as Economic Projections Reflect Uncertainty Amid Trump’s Policies
The Federal Reserve is expected to maintain its policy interest rates in the 4.25%-4.50% range, while releasing new economic projections.…
Exporters and Non-Bank Corporates Lead Nigeria’s Dollar Inflows as Naira Weakens
Exporters and non-bank corporates were the main contributors to Nigeria’s dollar inflows, accounting for 64% of the total inflow into…
Bitcoin Surges Above $82K Amid FOMC Meeting Speculation
Bitcoin (BTC) has been holding steady above $82,000, with market participants eagerly awaiting the outcome of the Federal Open Market…