Investors Gain N297bn As 36 Stocks Push Market Higher
Investors in the Nigerian equity market gained N297bn on Monday as 36 firms recorded price appreciation at the end of trading. The equity market sustained its positive outlook as the…
Nigeria Aims To Revamp Refineries, End Oil-For-Fuel Swaps
Nigeria aims to end the country’s so-called oil-for-fuel swaps system in the near future and rely instead on oil products from local refineries, which it hopes to have running again…
Dollar Weaker As U.S. Fiscal Stimulus Hopes Lift Risk Appetite
The dollar was on the defensive against most currencies on Tuesday as rising optimism that U.S. lawmakers could agree on new stimulus to blunt the economic impact of the coronavirus…
F.G Considers Tax Holiday For Maritime To Cushion COVID-19 Effect
Poised to stimulate investment and boost activities amid the downturn induced by COVID-19, the Federal Ministry of Transportation is seeking a package of tax incentives for the in the maritime…
Nigeria Battles Covid-19 With New Small Business Support Fund
Nigeria will help cushion small business owners impacted by the coronvirus with grants from a 75 billion naira ($195.5 million) fund, its trade and investment ministry said. Close to a…
The Plantation City In Warri Enters Nigeria’s Premium Real Estate Market
Nigeria’s real estate hubs are listed as Lagos, Abuja and Port Harcourt. Well, that was before The Plantation City, a well-coordinated community, evolved in Warri, Delta State. Bennett Oghifo writes…
2021 Budget: Expert Tasks FG On Monitoring, Evaluation For Enhanced Performance
A financial expert, Dr Glenn Prince-Abbi, on Monday urged the Federal Government to map out strategies for proper monitoring and evaluation of national budget to ensure enhanced performance. Prince-Abbi, the…
Foreign Reserves Face Further Decline As Export Revenue Crisis Worsens
Nigeria’s international reserves, which opened at $38.100bn in January, 2020 may face further decline before the end of the year as the country confronts an expert revenue crisis triggered by…
Nigeria’s Foreign Borrowings Surge By Over 400% In 10 Years
Nigeria’s foreign borrowing in the past 10 years has ballooned more than five-folds, an analysis by TheCable has shown. Nigeria, like the rest of the world, has been grappling with…
Sterling Tops $1.30 As Investors Push Back Negative Rate Expectations
Sterling climbed above $1.30 on Tuesday for the first time in three weeks as investors pushed back expectations for when the Bank of England would cut interest rates below zero.…
IATA: COVID-19 Will Dip Africa’s GDP By $37b
The International Air Transport Association (IATA) has warned that the damage being done to the African aviation industry and the continent’s economies because of COVID-19 will trigger a dip in…
Oil Prices Rebound As Investors Watch Trump’s Health Condition Following His Covid-19 Diagnosis; Asia-Pacific Stocks Rise
SINGAPORE — Oil prices saw a rebound in Monday trade following a Friday drop as investors continue to watch for developments on U.S. President Donald Trump’s health after he tested…
Capital Market Calls For Review Of Economic Architecture
LEADING capital market experts and financiers have called for a comprehensive review of economic architecture to reintegrate economic policies with the country’s growth agenda. In a review of the economic…
Nigeria Widens Markets’ Depth With Central Counterparty Clearing Houses
NIGERIA’s apex capital market regulator, Securities and Exchange Commission (SEC), has granted approval to NG Clearing Limited and FMDQ Clear Limited to launch the country’s first central counterparty clearing (CCP)…
Saudi Arabia Pegs Budget To Oil At Around $50, Goldman Says
Saudi Arabia’s Finance Ministry is budgeting for oil prices to be around $50 a barrel for the next three years, according to a Goldman Sachs Group Inc. analysis of the…
Dollar Holds Breath Waiting For Trump Health Updates, Fiscal Package
The dollar index slipped slightly on Monday but was little changed from Friday’s close as financial markets waited for news about U.S. President Donald Trump’s health and developments in fiscal…
Nigeria To Bar Vessels Without Licences From Operating In Nigerian Waters
Nigeria plans to bar vessels without a valid licence to operate in Nigerian waters and has given shipping companies that trade in its coastal and inland waters three months to…
$10 Billion Is Lost Annually To Illegal Fishing
The Minister for Transportation, Mr. Rotimi Amechi, has revealed that US$10 billion is lost annually to illegal fishing, stating that dumping of toxic waste and indiscriminate use of plastics is…
Sterling Slightly Weaker Vs Euro, Focus Remains On Brexit
Sterling fell against the euro on Monday, although not by much, and most analysts say they now expect Britain and the European Union to meet the transition deadline and soon…
Oil Firms’ Debts Near N5tn Amid Price Collapse
The debts owed by oil and gas companies to Nigerian banks rose by N90bn in the second quarter of this year to nearly N5tn as many operators struggle to stay…
Record-Breaking $86bn Debt Leaves Nigerians Stunned
Nigeria’s debt of $85.9 billion, the highest in history, has become the talking point even as the country celebrates its 60th anniversary. The pressure on the economy has caused an…
Foreign Venture Capital Firms Killing Nigerian Businesses, Group Cries Out
The Business Founder Coalition (BFC), which is made up of Nigerian entrepreneurs has cried out to the federal government to protect Nigerian enterprises from being hijacked by foreign predatory venture…
CBN: Nigeria’s Foreign Reserve To Drop Below $34.3bn By December
The Central Bank of Nigeria (CBN) says Nigeria’s foreign reserves will drop below $34.3 billion by the end of December 2020. The apex bank made this known in its report…
AfCFTA – Rules Of Origin Negotiations At Concluding Stages
The Acting Director General of the Nigerian office of Trade Negotiations, Liman Victor Liman has said that his office has negotiated and almost concluded the rules of origin to pave…
€85 Mn Of Cargo Thefts From Supply Chains In EMEA In H1 2020: TAPA
Over €85 million of products were stolen from air, road, sea and rail freight supply chains in 46 countries in the Europe, Middle East & Africa (EMEA) region in the…
NSE Set To Launch West Africa’s First Exchange Traded Derivatives
There are indications that the launch of West Africa’s first Exchange Traded Derivatives (ETDs) on the Nigerian Stock Exchange, NSE would happen soon following the registration of NG Clearing and…
Commissioner Seeks Quick Transfer Of Deceased Persons’ Assets
The Lagos State Attorney General and Commissioner for Justice, Mr Moyosore Onigbanjo (SAN), has urged relatives of deceased persons to take steps early towards obtaining letters of administration for the…
China’s Tech Giants Face ‘New Business Realities’ Across The World
GUANGZHOU, China — China’s technology giants — like their U.S. counterparts — have seen business thrive during the coronavirus pandemic. But the tech industry is at a crossroads, facing an…
Dow Futures Rise In Overnight Trading As Investors Monitor Trump’s Health
Stock futures rose in early morning trading on Monday as investors brace for another volatile week with President Donald Trump’s hospitalization adding more uncertainty to the market outlook ahead of…
CBN, BDCs Reinforce Commitment To Exchange Rate Stability
The attempt to see all Bureaux De Change (BDCs) operators as weakest link in fight against illicit financial flow has been faulted by stakeholders. The BDC sector has for decades,…