S&P 500, Dow Set To Rise As Economic Growth Heats Up
The S&P 500 and the Dow indexes were set to rise on Thursday as a slate of strong corporate earnings…
Category: Business
China Buyers Re-emerge, Patient Fed Saps Dollar
World share markets were back on the climb on Thursday as the U.S. Federal Reserve signalled it was in no…
U.S. Economy Contracted 19.2% During COVID-19 Pandemic Recession
The U.S. economy contracted at a record average annualized rate of 19.2% from its peak in the fourth quarter of…
Mastercard Profit Beats Estimates On Overall Spending Boost
Mastercard Inc (MA.N) reported a 36% rise in second-quarter profit on Thursday that comfortably beat estimates, underpinned by a recovery in global…
Carlyle’s Second-Quarter Earnings Double On Asset Sales
U.S. buyout firm Carlyle Group Inc (CG.O) said on Thursday its second-quarter distributable earnings nearly doubled following a sharp rise in asset…
Oil Prices Slip But Remain Near $75 After Large Inventory Drawdown
Oil prices slipped but remained near $75 per barrel on Thursday as crude stockpiles in the United States, the world’s top oil consumer,…
Shoprite Out, Pick ‘N Pay in – The Nigeria Strategy For S.A’s 2nd Largest Retailer
At the beginning of the month, the Shoprite Group announced the completion of their exit from Nigeria after a few…
Investors Lose N5.80bn As 24 Firms Suffer Decline
Investors in the Nigerian Exchange Limited lost N5.80bn as 24 firms saw their share prices decline at the close of…
IMF Retains 2.5% Economic Growth Projection For Nigeria
The International Monetary und, IMF, has retained its 2.5 per cent projection for Nigeria’s economic growth in 2021. IMF however…
‘Private Sector Aids 60% Illicit Financial Flows From Africa’
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, has said that the private…
Experts Blame COVID-19 As States’ IGRs Shrink By 22% In Two Years
The aggregate internally generated revenue of the 36 states in the country and the Federal Capital Territory Administration fell by…
Nigeria’s Capital Importation Fell To $875.62m In Q2
The total value of capital importation into Nigeria declined to $875.62m in the second quarter of 2021 from $1.91bn in…
German Insurers Expect Up To $6.5 Billion In Storm Claims
German insurance industry association GDV estimates that there will be up to 5.5 billion euros ($6.5 billion) in claims from…
Banks’ Credit To Economy Hit N24.23tn, Says CBN
The total credit from the banking sector to the economy rose to N24.23tn as of the end of May, the…
Naira Falls After CBN Stops Forex Sales To BDCs
The CBN says it will not sell dollars to BDCs because they had become a conduit for illicit forex flows…
Microsoft Set To Report Earnings After The Bell
Microsoft will release its fiscal fourth-quarter earnings report after market close Tuesday. Here’s what analysts are expecting: Earnings: $1.92 per…
Gold Subdued As Investors Await Cues From United State Federal Reserve Meeting
Gold prices lingered below the key $1,800 per-ounce level on Tuesday, as investors maintained a cautious stance ahead of the…
Nigeria’s CBN Retains Key Policy Rate
The bank says increasing the rate will hinder the recovery of the economy, while an expansionary policy will make inflation…
MPC Likely To Hold Rates
The monetary policy committee (MPC) meets today and tomorrow. At its last meeting held in May, the committee was faced…
Naira Stable At Official, Black Markets
The naira closed at N504.00 per $1 on Monday. Naira maintained stability against the U.S dollar at both the official…
External Reserves Gain $76.5 Billion In Seven Days
In a curious twist of fate last week, there was a breather for the falling foreign exchange reserves. The figures…
Bitcoin Briefly Tops $40,000 For First Time Since June As Cryptocurrency Rallies After Sell-Off
Bitcoin surged above $40,000 for the first time in nearly six weeks on Monday as sentiment turned bullish following a recent…
Housing Boom Is Over In United State As New Home Sales Fall To Pandemic Low
Sales of newly built homes dropped in June to the lowest level since the early days of the coronavirus pandemic…
After Crypto Market Woes, Central Bank Of Nigeria Considers ENaira Launch Oct
There are key expectations for the eNaira currency to be launched by the Central Bank of Nigeria (CBN) this October…
External Reserves Gain $76.5 Billion In Seven Days
In a curious twist of fate last week, there was a breather for the falling foreign exchange reserves. The figures…
VAT, Multiple Taxations Undermine Stock Market Performance
Barely two years after the resumption of Value Added Tax (VAT) to the stock market, investors have returned about N30…
After $4 Billion In Losses, Heathrow Tells UK To Open Up Travel
London’s Heathrow Airport urged Britain to open up travel to vaccinated passengers after its recovery fell behind hubs elsewhere in…
Three Stocks That Are Grabbing Our Attention
United Capital Plc is a leading financial services Group in Africa focused on leveraging technology to empower businesses, individuals and…
Stock Market Rebounds With N376bn Weekly Gain
Stock trading on the floor of the Nigerian Exchange Limited rallied with a total gain of N375.50bn last week despite…
Virtual Events Platform Eventtus Is Acquired By US Firm Bevy
Egyptian virtual events platform, Eventtus has been acquired by Bevy, a Silicon Valley-based company that specialises in enterprise-grade virtual event…