Stock Market Dips by 0.3 Per Cent
Trading in the shares of Transnational Corporation of Nigeria, Oando and Fidelity Bank Plc dominated in volume terms at the…
Category: Business
BUA Cement Posts N21.03 Billion Profit After Tax For Q2 2021
Bua Cement Plc has released its financial statement for the second quarter ending June 30, 2021, which revealed the company…
Asian Shares Try To Stabilise, China Growth A Worry
Asian shares were seeking a modicum of stability on Monday as a run of stellar U.S. corporate earnings put a…
France’s Axa Rebounds From Pandemic With A 180% Spike In Net Income
French insurer Axa posted on Monday a 180% surge in net income in the first half as the company rebounded…
AON’S Looking At Up To $1.4 Bln In Costs Over Scrapped Willis Deal
Insurance broker Aon Plc (AON.N) said on Friday it could have to expend up to $400 million in additional costs tied to…
HSBC Profit More Than Doubles As Economies Rebound, Loan-Loss Fears Ebb
HSBC Holdings (HSBA.L) on Monday reported forecast-beating first-half pretax profit that more than doubled from a weak performance last year when it…
China Lifts Yuan Midpoint By The Most Since January
China’s central bank lifted its yuan midpoint to a one-month high on Friday to reflect a bounce in the spot…
NPA Pledges To Enthrone International Standards At Ports
The Acting Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello Koko has restated the commitment of the management…
Forex Sale: ABCON To Identify Erring Members For Sanction
Bureau De Change (BDC) operators that violated Central Bank of Nigeria (CBN’s) guidelines on foreign exchange (forex) sales will be…
Federal Government Of Nigeria Cuts Gas-To-Power Price To $2.18/Mmbtu
The Federal Government, on Thursday said it has reviewed downward the price of gas-to-power from $2.50/mmbtu to $2.18/mmbtu for domestic supply…
Banks’ CEOs Summon Emergency Meeting Over BDCs’ Forex Ban
Bank Chief Executive Officers on Thursday, held an emergency meeting on how to ensure compliance with the new forex directive…
Private Sector Owns 70% of N12.7tn Pension Fund, Says PENCOM
The National Pension Commission (PENCOM) has revealed that private sector workers own 70 per cent of the N12.7 trillion in…
NGX Key Indicators Drop Further By 0.79% On Profit-Taking
Trading at the nation’s bourse extended a losing streak on Thursday, with key market indicators nosediving by 0.79 per cent…
Amazon Sales Growth Slows In Tame Start To Jassy’s Tenure As CEO
Amazon.com Inc (AMZN.O) on Thursday said sales growth would slow in the next few quarters as customers venture more outside the home,…
SoftBank Q1 Performance Seen Buoyed By China IPOs; Crackdown Clouds Outlook
SoftBank Group Corp (9984.T) is set to report a boost to Vision Fund returns when it posts quarterly earnings due to the…
Robinhood Closes At $34.82 In Grim Stock Market Debut
Robinhood Markets Inc’s shares (HOOD.O) closed more than 8% lower at $34.82 per share on their first day of trading, as many…
Uber Delays Office Return, Makes Vaccination Mandatory For U.S. Employees
Uber Technologies Inc (UBER.N) is pushing back its back-to-office date to late October globally, and all employees in the United States will…
CBN: BDC Promoters To Get Refund On Deposits, Fees With Pending Applications
In the aftermath of the Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria (CBN) has said it will…
Nigeria’s Capital Import Dips To $875.62m In Q2
The total value of capital importation into Nigeria declined to $875.62million in the second quarter of 2021 from $1,905.89million in…
Federal Government Urged To Adopt Bangladesh’s Export-Demand Industrial Policy Model
The Director-General, Nigerian Institute of International Affairs (NIIA), Professor Eghosa Osaghae has advised the federal government to adopt an export-demand…
Nigeria To Refund Deposits To Exchange Bureaux Applicants After FX Sale Ban
Nigeria’s central bank will refund exchange bureaux that have paid deposits and licence fees which have yet to be approved,…
Central Bank Chief Says Canadians Should Not ‘Overreact’ To Temporary Inflation
Bank of Canada Governor Tiff Macklem, writing in a column for the Financial Post newspaper on Thursday, said Canadians can…
Canadian Dollar Hits 2-Week High As Fed Stance Bolsters Sentiment
The Canadian dollar touched a two-week high against its broadly weaker U.S. counterpart on Thursday, as the Federal Reserve remained…
Nigerian Manufacturers Battling Stunted Growth Blame Forex Scarcity
The manufacturing sector has seen woeful growth in the last five years, and a key problem is businesses can’t find…
IMF Retains 2.5% Growth Estimate For Nigeria
The International Monetary Fund (IMF) has retained Nigeria’s 2.5 per cent economic growth forecast for 2021. The institution said this…
OPEC: Nigeria May Be Hard-Hit By Declining Investment In Oil Sector
The Organisation of Petroleum Exporting Countries (OPEC) yesterday warned that with declining investments in the global oil and gas industry,…
Ban On Forex Sale: NESG, Rewane Ask CBN To Ensure Policy Success, Cushion Effects
Following the cancellation of the sale of about $5.7 billion foreign exchange (forex) annually to about 5,500 licenced Bureau De…
NYSE-Owner ICE’s Second-Quarter Profit More Than Doubles
Intercontinental Exchange Inc (ICE.N), the owner of the New York Stock Exchange, on Thursday reported that its second-quarter profit more than…
Analysis: As Fed Tiptoes Around Tapering, Investors Look To Jackson Hole Meeting For Clarity
Investors looking for clear guidelines on when the Federal Reserve will begin tapering its massive bond purchases were left waiting…
Merck Revenue Beats Estimates On Keytruda Demand
Merck & Co Inc (MRK.N) reported quarterly revenue on Thursday ahead of analysts’ estimates, as a recovery in demand for its cancer…