SoftBank Makes First Africa Bet On OPay At $2 Billion Valuation
SoftBank Vision Fund 2 led a $400 million funding round for OPay, valuing the Nigerian mobile-payments platform at $2 billion and marking…
Category: Business
Walmart Launches Delivery Business To Connect Other Local Retailers With Consumers
Walmart on Tuesday announced the launch of a delivery service called GoLocal, which will carry goods from other local retailers…
FG Pays $266.141m Cash Call Arrears To JV Partners In One Year, $1.464bn Outstanding
The federal government through the Nigeria National Petroleum Corporation (NNPC) was only able to pay $266.141 million out of an…
Shareholders Disagree With SEC Over N170bn Unclaimed Dividend
Shareholders of quoted companies in the country have disagreed with Securities and Exchange Commission (SEC) on the use of the…
As Access Bank Intensifies Fight Against Financial System Fraud
Oluchi Chibuzor writes on efforts by Access Bank Plc to protect customers from the activities of fraudsters In recent times,…
NPA Rakes In N300b From Ship Dues At Lagos Ports
The over $1.8million the agency is generating from the lease of the two hoppers is seen by the senior official,…
Brent Oil Jumps With Stocks After Worst Losing Streak Since 2018
Brent oil climbed amid a broader market rebound after capping the longest run of declines in more than three years.…
Forex Transactions At Investors, Exporters’ Window Fall 24.56%
Foreign exchange transactions at the Investors’ & Exporters window declined by 24.56 per cent last week, according to FMDQ Securities…
Nigeria To Attract $150bn Investment From $4trn Halal Trade
Organisers of the International Halal Expo, Abuja Chamber of Commerce and Industry (ACCI) have stated that Nigeria is expected to…
Declining Forex Reserves Stokes Naira Depreciation
The naira suffered its weakest performance in recent weeks at the weekend after Nigeria’s foreign exchange (forex) reserves recorded its…
Citigroup Says Short Treasuries But Hedge With Bet Against Yuan
China’s sagging growth outlook helped drive up the U.S. dollar, and fresh signs of deterioration are concerning those who had…
Govt N4.8bn Pledge: FG Can’t Be Trusted, Says NARD, We Negotiated With NMA, Minister Insists
The National Association of Resident Doctors, on Sunday, faulted the N4.8bn which the Federal Government promised to release for the…
Private Equity Firms Circling Sainsbury’s With View To Launch Bids – Sunday Times
Private equity companies are circling British supermarket group Sainsbury’s (SBRY.L) with a view to possibly launching bids of more than 7 billion…
Wall Street Analysts Bet On Robinhood’s Potential To Add Users
Wall Street analysts on Monday took a largely upbeat view on Robinhood Markets Inc in their first ratings on the…
Gold Rises Above $1,800 As Dollar Dips On Doubts Fed Will Taper Soon
Gold vaulted over the key $1,800 psychological level on Monday as a retreat in the dollar pushed investors to bullion…
Pfizer To Buy Cancer Drug Developer Trillium In $2.3 Bln Deal
Pfizer Inc (PFE.N) said on Monday it would buy Canadian drug developer Trillium Therapeutics Inc (TRIL.TO) in a $2.26 billion deal to strengthen its…
IMF’s $650 Bln Reserves Distribution Is ‘Shot In Arm’ For Global Economy- Georgieva
The IMF will distribute about $650 billion in new Special Drawing Rights to its members on Monday, providing a “significant…
Bitcoin Price Rises Past $50,000, Rebound Slows
Bitcoin’s price surged past $50,000 on Monday for the first time since May, although its rebound from a months-long slump…
S&P 500, Nasdaq Scale New Peaks On Tech, Oil Boost
Energy and technology stocks powered the S&P 500 and the Nasdaq to record highs on Monday as investors returned to…
Nvidia’s $40 Bln Deal For ARM Dealt Blow By UK Regulator
Nvidia Corp’s (NVDA.O) planned $40 billion acquisition of British chip designer ARM hit a major hurdle on Friday after a UK regulator…
Fed Chair Powell To Speak On ‘Economic Outlook’ Next Week
Federal Reserve Chair Jerome Powell will speak on “the economic outlook” at next week’s Jackson Hole, Wyoming symposium, the central…
Microsoft Invests $5 Mln In SoftBank-Backed Oyo
Microsoft Corp (MSFT.O) has invested $5 million in SoftBank-backed Oyo, according to a regulatory filing, ahead of the Indian hotel chain’s plan…
Deere Lifts 2021 Forecast On Solid Demand For Farm, Construction Equipment
Deere & Co (DE.N) on Friday raised its full-year earnings forecast after quarterly profit topped Wall Street estimates on the back of…
30% Frontier Exploration Not From NNPC Profit… Energy Analyst Clarifies Five Misconceptions In PIA
The signing into law of the Petroleum Industry Bill (PIB) by President Muhammadu Buhari has continued to elicit different reactions from…
Digital Economy: MDAs Generate N1.054tr
The Federal Ministry of Communications and Digital Economy and its departments and agencies have collectively generated a total of N1.05…
Oil Steadies But Set To Slump For The Week On Delta Anxiety
Oil prices came off three-month lows on Friday but were on track for a weekly decline of around 6% as new…
‘Lack Of Converted Gas Vehicles Might Undermine NGEP’
Without an active conversion industry for vehicles and other machinery, the core mandate of the Nigerian Gas Expansion Programme (NGEP)…
Oil Up, But Set For Weekly Decline As COVID-19 Continues To Restrict Fuel Demand
Oil was up Friday morning in Asia, climbing up from three-month lows. However, the black liquid was set for a weekly…
Twitter Agrees To Seven Out Of Ten Demands – Nigerian Govt
The Federal Government says from the 10 demands put forward to lift Twitter suspension, the microblogging and social networking platform…
US Dollar Surrenders Gains Despite FOMC Minutes Taper Talk
EUR/USD rebounds and USD/JPY pivots lower. This follows the release of FOMC minutes just now, which seems to have disappointed Fed hawks. The…