JPMorgan Downgrades Emerging Market Currencies To ‘Underweight’
Investment bank JPMorgan recommended selling emerging market currencies on Tuesday, completing a 180-degree pivot from the start of the year…
Category: Business
Black Americans Are Embracing Stocks and Bitcoin to Make Up for Stolen Time
They’ve heard it all before. Set a budget. Avoid high-interest debt. And, oh yes, it sure is smart to get…
Egypt Seizes Suez Ship ‘Ever Given’ Pending $900 Million Compensation
An Egyptian court allowed the ship that blocked the Suez Canal last month to be seized after a request from…
We’ve Lost Dollars To Sell Cement In Nigeria – Dangote
The manufacturer responds to reports its cement cost more in Nigeria than in other African countries. The Dangote Cement Plc.…
CBN to Commence Enrolment of All DFIs, MFBs, PMBs and FCs on the CRMS Platform
As part of the efforts to promote a safe and sound financial system in Nigeria, the CBN introduced the CRMS…
The Chinese Yuan Is Going Completely Digital
Yesterday, I explained how China has moved to a mostly cashless society… and how it’s planning to go completely cashless for…
Qatar To Pump Nigeria’s Economy With $5 Billion Investment: Reports
Qatar is eyeing up plans to invest $5 billion into the African country’s economy, Nigerian media reported on Monday. The Gulf state’s…
Nigerian Exchange Launches New Corporate Identity
Nigerian Exchange Group (NGX Group) Plc, a leading integrated market infrastructure in Africa, has launched of its new corporate brand…
CBN To Clamp Down On Bad Debtors To OFIs
The Central Bank of Nigeria has said it will extend its Credit Risk Management System to the other financial institutions…
How Many IMF Reports Does It Take To Dim The Moon’s Lustre?
Time was when the International Monetary Fund (IMF)’s numbers on the domestic economy mattered. “What to make of the recent numbers?”,…
More Asian Countries Thick-Skinned About FX Manipulation Tag
A larger number of Asian countries and economies could join the ranks of those branded currency manipulators by the U.S.…
Dollar Edges Up As Markets Wait For U.S. Inflation Data
The dollar edged higher on Tuesday, helped by a pick-up in U.S. Treasury yields, but was still near three-week lows…
Cryptocurrency Market Now Worth $2trn
The cryptocurrency market has grown exponentially in 2021 and is now worth a staggering $2.0 trillion as it increasingly attracts…
HP Seizes 54,000 Nigeria Counterfeit Products, Largest In EMEA
In the past year, the HP Anti-Counterfeiting and Fraud team stopped the potential sale of 54,000 counterfeit toner and ink…
Nosediving Disposable Income, An Underlying Factor In Nigeria’s Housing Deficit —— LBIC MD, Lawal
Mr. Oluwatobi Lawal is the Managing Director/CEO, Lagos Building Investment Company PLC. In this interview with MOSES ADENIYI, he gives perspectives…
Microsoft In Discussions To Buy Nuance Communications: Report
Technology giant Microsoft is in advanced discussions to buy the US group Nuance Communications, which specializes in artificial intelligence, for…
No Going Back On NIN, SIM Verification, Says Pantami
Minister of Communications and Digital Economy, Dr. Isa Pantami, yesterday, said Federal Government would not go back on the verification…
Twitter Chooses Ghana To Grow Its African Presence
Twitter has opened its first African office in Ghana to grow its African presence. The company is actively looking for…
‘Support For Indigenous Brands Critical To Economic Growth’
The Managing Director, Rite Foods Limited, Seleem Adegunwa, has called on Nigerians to support indigenous businesses to grow and compete…
Households, Businesses Can Apply For N50Bn COVID-19 Loans – CBN
The Central Bank of Nigeria has said that households and businesses affected by the COVID-19 can now apply for loans…
Report: Increased Borrowing May Trigger Structural Reforms in Nigeria
As Nigeria is projected to raise $3 billion this year meet its infrastructure needs, which is expected to increase its…
Okonjo-Iweala: COVID-19 Vaccine Nationalism, Export Restrictions Threat to Africa
The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, yesterday deplored increasing COVID-19 vaccine nationalism and restrictions placed…
Sell-Offs In Microfinance Banks Over Recapitalisation
Ahead of April’s deadline for the first threshold of recapitalisation exercise in the Microfinance Bank (MFB) sub-sector, some operators that do not…
Federal Government Unveils Compendium On States’ Economies
The Federal Government has unveiled a publication, Book of States, detailing the economic potential of states and their performances in…
Bitcoin Hits New All-Time High Above 63.1K
The price of bitcoin set a new all-time high Tuesday morning, the day before U.S.-based cryptocurrency exchange Coinbase’s highly anticipated…
44 Companies To Face NSE’s Sanctions Over Default Filing
A total of 44 companies quoted on the Nigerian Stock Exchange, NSE, may face sanctions from the Exchange for failing…
Naira Closes Stronger Against Dollar, Euro At Black Market
The Naira closed stronger against the US Dollar and the Euro at the unregulated segment of the foreign exchange (FX)…
Qatar To Invest $5bn In Nigeria, Says Onyeama
The oil-rich state of Qatar is to invest $5 billion in the Nigerian economy, the Foreign Affairs Minister, Chief Godfrey…
Printing Currency Could Hurt Economy, Analysts Warn FG
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly…
Credit Suisse To Pay Out Another $1.7 Billion Of Greensill-Linked Fund Assets
Credit Suisse has made further progress in winding down funds connected with Greensill Capital and is able to distribute another…