Canadian Dollar Slumps To 6-Month Low As Risk Aversion Climbs
The Canadian dollar fell on Thursday for a fourth day against its broadly stronger U.S. counterpart, as investors worried that…
Category: Business
Internet Of Things (IOT) Adoption Rising Across Industries In Nigeria, Says Expert
The number of companies across the different sectors of the Nigerian economy adopting emerging technologies like the internet of things…
Nigerian Currency Depreciates Further To N520/$1
The Naira weakened for a second trading session at the unregulated segment of the foreign exchange (forex) market on Thursday,…
Lawmakers Fume Over FG’s Plan To Borrow N5.62tn, Tackle MDAs Hiding Revenue
The House of Representatives yesterday expressed displeasure over the way some Ministries, Departments and Agencies (MDAs) conceal their revenues, thereby…
Stop Borrowing Dollars, Borrow Sense: Naira On Its Way To A Thousand To A Dollar
Suddenly the naira shot through to five hundred and twenty five to the dollar at the unencumbered parallel market after…
Pounds Falls To One-Month Low As Edgy Investors Buy Dollars
Sterling touched a new one-month low against a robust dollar on Friday and also slipped to a one-month low against…
Kyari Urges Greenfield Refinery To End Product Importation
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has urged members of the Board…
Shippers Going Bankrupt, Unable To Repay Loans’
President, Shippers Association of Lagos (SAL), Rev. Jonathan Nicol has said that Nigerian shippers are going bankrupt, as they are unable…
Explainer: Binance: The Crypto Giant Facing Pressure From Regulators
Financial regulators across the world have targeted major cryptocurrency exchange Binance. Some have banned the platform from certain activities, while…
U.S. Department Stores Get Sales Boost From Back-To-School Wardrobe Refresh
U.S. department store chains Macy’s Inc (M.N) and Kohl’s Corp (KSS.N) are leaning on a strong back-to-school season to sustain a sales recovery fueled…
SoftBank Sells 11.4 Million Shares Of DoorDash – Source
SoftBank Group Corp (9984.T) sold 11.4 million shares of food delivery company DoorDash Inc (DASH.N), marketed via Goldman Sachs Group Inc (GS.N), a source…
UAE Bars Nigeria, S’Africa, Others From Visa-On-Arrival List
The United Arab Emirates (UAE) has approved visa-on-arrival for passport holders from 70 countries except Nigeria, South Africa, Ghana and…
Euro’s Rapid Decline Puts ‘Line In The Sand’ In Sight For Bulls
The euro is on the cusp of breaking new lows against major global peers, weighed down by the prospect of…
Digital Yuan Gives Banks An Edge In Payments, Moody’s Says
China’s digital yuan will help banks become more competitive in the payments sector after steadily losing out to popular technology…
Fed Minutes Lift Dollar To A 9-Month High As Stock Mkts Swoon
The dollar index, which measures the U.S. currency’s performance against six rivals, extended gains in early London trading to rise…
Pound Plumbs Month’s Low As Stock Rout Hits Risk Currencies
Sterling hit its lowest in a month against the dollar on Thursday as a pull-back in global stock markets saw…
China’s Yuan Eases, But Basket Index Rises To 5-1/2-Year High
The Chinese yuan eased to a three-week low against a firmer dollar on Thursday, while its value against the currencies…
Gold Falls As Fed Minutes Boost U.S. Dollar
Gold prices fell on Thursday, as dollar strengthened after U.S. Federal Reserve’s policy meeting minutes showed that its officials were…
Goldman Sachs Economists Cut Q3 Growth Forecast For U.S.
Goldman Sachs economists lowered their tracking estimate of U.S. economic growth in the third quarter to 5.5% from 9% due…
Stocks, Bond Yields Down As Growth And Taper Fears Haunt Markets
Concerns about slowing global growth, coupled with signals from the Federal Reserve it was preparing to cut back its stimulus…
Wall Street Drops As Taper Fears, Commodity Losses Weigh
Wall Street indexes fell on Thursday on concerns the Federal Reserve could begin to rein in its massive monetary stimulus,…
Naira Weakens Further To 517 Against Dollar
The naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent…
Solar Could Be 40% Of U.S. Power By 2035 -Biden Administration
Solar could supply more than 40% of the nation’s electricity by 2035 – up from 3% today – if Congress…
Fifty Shades Of Green: EU Sustainable Fund Rules Muddy The Waters
If you want to invest in a fund branded as sustainable under new European Union rules, you’re spoilt for choice.…
Crude Sinks To Three-Month Low As Fuel Demand Wanes
Crude in New York dropped to the lowest since May after a surprise increase in U.S. gasoline inventories signaled fuel…
Exchange Rate Used For Purchasing Stocks Via Fintech Apps Falls To N522/$1
The exchange rate for converting naira to dollar using FinTech apps nosedived to N522/$1 according to data collated from the…
Seized Cash Worth $4.7 Billion Fuels Nigerian Political Fight
Nigeria’s state governors sued the federal government for allegedly failing to share billions of dollars in confiscated funds with their…
Canadian Inflation Jumps To 3.7%, Creating Trouble For Trudeau
Canadian inflation accelerated to match its highest reading in almost two decades, threatening to become a political headache for Prime…
Fed Govt Offers N150b Long-Term Bonds
The Federal Government will today auction medium-to long-term bonds valued at N150 billion as part of government’s efforts to access…
UK Inflation Slows More Sharply Than Expected To 2.0% In July – ONS
British inflation fell to the Bank of England’s 2% target last monthin an unexpectedly sharp slowdown that economists said was…