Forex Scarcity, Others Put Pressure On FMCG Companies’ Profits
Analysts have identified scarcity of foreign exchange, inflationary pressures and rising input costs due to naira devaluation as responsible for…
Category: Business
United State Stock Futures Dip After Dow, S&P 500 Close At Record Highs
U.S. stock index futures were slightly lower during overnight trading Monday, after the Dow and S&P 500 closed at record…
Chinese Electric Scooter Company Niu Shakes Off Pandemic Slump And Predicts Strong Sales Ahead
Almost three years since Chinese electric scooter start-up Niu Technologies listed in the U.S., the company has not only…
Pearson To Pay $1 Mln To Settle Charges It Misled Investors, U.S. SEC Says
London-based Pearson PLC (PSON.L) will pay $1 million to settle charges it misled investors about a 2018 cyber intrusion involving the theft…
Dollar Steadies After Weak China Data; Fed Minutes Eyed
The dollar held its ground against major peers on Monday as disappointing monthly activity data from China helped the greenback…
Ranking The Currencies That Could Unseat The Dollar
This is the second installment in a series on global currencies. The first part details the forces eroding the U.S. dollar’s…
BOE’s Inflation Alarm Deemed Overly-Cautious By Economists
Bank of England policy makers are being overly-alarmist on their outlook for inflation, economists’s forecasts suggest, casting doubt on the…
Cardano’s ADA Token Is Now World’s Third-Largest Cryptocurrency
A little-known digital token linked to the Cardano blockchain has just become the third-largest virtual currency in the world as…
China’s Oil Refining Tumbles To 14-Month Low Amid Crackdown
China’s oil refining slumped to the lowest level in 14-months as private processors scaled back operations amid a crackdown by…
Australian Dollar Down On Weak China Data. Is AUD/USD Ready To Break Out?
The risk-off sentiment from early Monday morning in Asia continued after the release of Chinese data that was lower than…
Manufacturers Urge Africa To Tap From AfCFTA
Whitfield, also the president of the Association of African Automotive Manufacturers (AAAM), in a statement, lamented that fewer vehicles were…
Oil Prices Drop Amid Faltering Demand Outlook In China
Oil prices fell by about 1% on Monday, dropping for a third session, after official data showed that refining throughput…
Firms With Untraceable Addresses Owe N17.69bn Tax In 2015 -FIRS
The Federal Inland Revenue Service confirmed that companies with untraceable addresses evaded taxes to the tune of N17.69bn, according to…
Is Shell Oil’s $110 Million Payment For Spill A Slap Or Remedy?
Second, The consequence of oil spills and environmental damages are reflected in the wreckage and mangled landscape and tortured lives…
Import Duties Evasion: MDAs, Others Under Fire
Worried by the rising evasion of import duties and tariffs by some Ministries, Departments, and Agencies (MDAs) who collude with…
Nigeria’s Buhari Signs Bill To Overhaul Oil Industry Into Law
Nigerian President Muhammadu Buhari signed into law long-awaited legislation to overhaul the oil and gas industry in Africa’s biggest crude…
Nigerian Stocks Hit 14-Week High Amid Investors’ Wild Scramble For Shares Of Flour Makers
Nigerian stocks jumped 0.08 per cent on Friday, taking the benchmark index to 39,522.34 basis points, a height last reached…
Loss Of FDIs To Neighbours Worry Manufacturers As Challenges Linger
As prevailing economic challenges undermine investments and disposable incomes, local manufacturers have expressed concerns about the loss of investments to…
Sterling Slips As Global Markets Turn Cautious
The British pound slipped in early trading on Monday, hurt by a fall in risk appetite globally, after economic data…
Nigeria Recorded $85.21bn Net Foreign Liabilities – IMF
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International…
Nigeria’s Inflation Rate Projected To Drop To Single Digit In 2022 – CBN Official
The Central Bank of Nigeria has said that Nigeria’s inflation rate may drop to single digit in 2022. The apex bank’s Director…
Rewane – How Nigeria Can Attract More Foreign Direct Investments
A member of the President’s Economic Advisory Council and Managing Director, Financial Advisory Council, Mr. Bismarck Rewane, in this interview provides…
Foreign Reserves Resume Decline After Rising To $33.59bn
The foreign exchange reserves in Nigeria have started declining again after rising to $33.59bn, the highest level in more than…
In 5 Days, I&E FX Turnover Jumps 0.5% To $681m
Last week, the total value of transactions recorded at the Investors and Exporters (I&E) window of the foreign exchange (FX)…
Investors Chart Roadmaps For Federal Government Of Nigeria To Improve Non-Oil Sector’s Revenue Drive
LAGOS – Investors in the nation’s economy have called on the Federal Government to consider reform for key non-oil sectors of…
Nigeria Recorded $85.21bn Net Foreign Liabilities – IMF
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International…
Conglomerate Income Taxes Rise By 273 Per Cent Year-On-Year
Company income tax (CIT) realised in the second quarter (Q2) stood at N1.46 billion, up from N0.39 billion realised the…
Securities Dealers To Discuss Market Recovery Strategies
Securities dealers in Nigeria have concluded arrangements to review strategies to reactivate the nation’s economic growth and development at a forum…
Dollar Holds Firm Near 4-Month High, Retains Weekly Gains On Fed Bets
The dollar held firm on Friday, staying near its highest level in four months against a basket of currencies as…
APMDC Counters Shippers’ Council Over Claims Of Arbitrary Charges
The Associated Port Marine Development Company has denied allegations of arbitrary charges and charging in foreign currency levelled against it…