Petrol Subsidy Ends After Buhari Signs PIB – Minister
The assent of the Petroleum Industry Bill by the President, Major General Muhammadu Buhari (retd.), will put an end to…
Category: Business
Forex Shortages Force Nigerian Corporates To Turn To Parallel Market
Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to source this resource on the parallel market, a…
ABCON Advocates Reforms To Curb Govt Spending, Public Debt
Association of Bureaux De Change Operators of Nigeria (ABCON) has advocated for reforms that will reduce government spending and also…
Dollar Tiptoes Toward Inflation, Powell Testimony
Currency markets were on edge and the dollar a few ticks lower on Tuesday, ahead of U.S. inflation data which…
Stocks Simmer Near Record Highs Ahead Of U.S. Inflation Data
Global shares hung near record highs on Tuesday, buoyed by better than expected Chinese export data as markets awaited the…
U.S. Consumer Prices Post Largest Gain In 13 years; Inflation Has Likely Peaked
U.S. consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in…
U.S. Senate Democrats Agree To $3.5 Trln For Budget Reconciliation Bill
U.S. President Joe Biden’s drive for big new infrastructure investment got a boost on Tuesday when leading Senate Democrats agreed…
Japan’s Q3 Growth Forecast Cut As New Pandemic Curbs Hit
Japan’s economy will grow at a slower pace than initially expected in the third quarter, as fresh coronavirus emergency curbs…
BOJ Aimed To Work With Govt In Regional Bank Scheme, Minutes Show
The Bank of Japan’s scheme to incentivise consolidation among regional banks was meant to show it was working alongside the…
Musk Defends Timing Of Tesla’s $2.6 Bln Deal For SolarCity
Elon Musk told a judge on Tuesday Tesla Inc (TSLA.O) had to buy SolarCity in 2016 because the failing solar panel company…
FCMB Announces Appointment Of Mrs Yemisi Edun As The New Managing Director And Successor To Mr Adam Nuru
The Board of Directors of FCMB Group Plc have announced the appointment of Yemisi Edun as the Managing Director of…
Africa’s Single Currency Realisable, Says AfCFTA Scribe
The Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Mr. Wamkele Mene, has predicted that Africa would…
Oil Not Going Away Soon – Nigerian Government
Minister of State Petroleum Resources Mr Timipre Sylva, on Monday, reiterated that crude oil was not going away soon as…
African Currencies Week Ahead: Kenyan, Tanzania Units To Remain Steady, Uganda’s Shilling Up
KENYA – The Kenyan shilling is expected to remain steady due to subdued demand for dollars amid a slow market,…
Bitcoin ‘Crash’ Risks Taking Its Price Down To $10,000, Minerd Says
There’s no reason for investors to buy Bitcoin at the moment, according to Guggenheim Investments Chairman Scott Minerd. The world’s biggest cryptocurrency is…
Russian Central Bank Says Inflationary Pressure Remains High, But Is Easing
EMBARGO 1730 GMTInflationary pressure remains high in Russia, the central bank said in a report on Monday, but there are…
One Of The Priciest Rough Diamonds Ever Fetches $40 Million
Petra Diamonds Ltd. sold a 39.3-carat blue gem for more than $40 million, making it one of the most expensive…
EFCC Arraigns Four For N900 Million POS Fraud
The anti-graft agency says the prime suspect connived with some staff members of First Bank to defraud customers using a…
Dollar Edges Higher Amid Pandemic Concerns, U.S. Inflation In Focus
The dollar edged higher across the board on Monday as concerns about the pandemic encouraged investors to seek a safe…
Nigeria To Become Oil Bunkering Hub In Africa – DPR
The Department of Petroleum Resources (DPR) has said that Nigeria has moved to become the Marine Petroleum Products Retail Operations…
Nigerian Govt Says No Plan To Privatise Electricity Transmission Company
The Nigerian government does not plan to privatise the Transmission Company of Nigeria (TCN), the Bureau of Public Enterprises (BPE), has…
CBN Advocates Private Sector Funding To Tackle 22m Housing Deficit
The Central Bank of Nigeria (CBN) has stressed the need for the mobilisation of private sector funding to redress the…
As Crackdown Looms, South Korea’s Defiant Crypto Fans Dig In Joori Roh
Yun Hae-ri, a 26-year-old South Korean cryptocurrency investor, has seen the value of a coin named Metadium nearly wiped out…
U.S. Consumer Watchdog Orders GreenSky To Pay Fine For Lending Abuses
The U.S. Consumer Financial Protection Bureau (CFPB) on Monday said it has fined an Atlanta-based financial technology firm $2.5 million…
Musk Tells SolarCity Trial That Tesla Would ‘Die’ If He Wasn’t CEO
Elon Musk insisted in court that Tesla Inc’s(TSLA.O)board controls the company but also said the electric vehicle maker would “die”…
Nasdaq, S&P 500 Scale New Peaks As Focus Turns To Earnings, Economic Data
Wall Street’s main indexes rose on Monday, with the Nasdaq and the S&P 500 hitting record highs, as investors awaited…
U.S. Asks Court To Dismiss Government Appeal Of TikTok Ruling
The Biden administration on Monday asked a federal appeals court to dismiss the Justice Department’s legal challenge to court rulings…
India’s Paytm Seeks To Raise $268 Mln In Pre-IPO Share Sale-Source
Indian digital payments firm Paytm is planning to raise $268 million in a funding round as it prepares for an…
Walmart’s Flipkart Raises Fresh Funds For $38 Billion Valuation As IPO Looms
Walmart Inc-owned Flipkart on Monday ushered back SoftBank Group Corp (9984.T) as an investor in a $3.6 billion funding round, doubling the…
After U.S. Push, EU Pauses Tax Plan, But Ireland Sticks To Its Guns
The European Union has agreed to delay a corporate tax plan for the bloc following pressure from the U.S. administration…