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Finance
NPA Transfers N490billion to FG Funds.
According to the Nigerian Ports Authority, between 2011 and 2022, it transferred N490. 229 billion to the federal…
Nigerian Banks Experience Earnings Drop Following Latest Policy Rate Increase…
The Central Bank of Nigeria (CBN) increased its main monetary policy rate by 150 basis points (bps) on September…
According To AfDB, Nigeria Needs Assistance To Reduce Its Debt Burden.
Economic and financial experts have expressed grave concerns about Nigeria's soaring debt load; which has posed a…
The US Fed Increases Interest Rates By 0.75%.
The baseline interest rate set by the US Federal Reserve has increased by 0.75 percentage points. New predictions…
Pencom Disputes Claims regarding employee remuneration.
According to a press release issued by the management and signed the regulatory authority; the highest paid…
The NCC Plans To Generate N500billion From 5G Spectrum Sales By 2023.
The auctioning of two 5G spectrums in 2023 is expected to bring in N500 billion for the federal govt, according to…
In 2022, Kenya Pension Bill Was Reduced By Sh18billion.
In the first two months of the current fiscal year, Kenya's pension bill decreased by Sh17. 94 billion compared to…
Ghana’s Inflation Reached A 21-year High Of 33.9% In August.
In order to help the country get through the harsh economic situation it is currently experiencing as a result of…
Turkey’s Inflation Exceeds 80%
According to figures released, Turkey's annual inflation increased to 80. 21% in August, somewhat less than…
Russian Cenbank Says Business Improved In August.
Russia's central bank said on Wednesday that its business climate index remained in the positive range for the…
U.S., European Banks Could Lose Over $5 Bln From Risky Buyout Loans.
Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market.
The biggest…
Kenyan Shilling Plunges Against Dollar Since William Ruto’s Victory.
Kenya’s currency, the shilling weakened against the dollar as the country’s election commission; announced Deputy…
Biden Signs The Inflation Act.
President Joe Biden signed into law a $430 billion bill that is the biggest climate package in U.S. History,…
General Atlantic Hires Durham For Tech Buyouts.
Private equity firm General Atlantic has hired veteran technology dealmaker Jonathan Durham to expand in corporate…
PayPal Registers To Indonesia’s Licensing Rules, Access Unblocked.
U.S. payments firm PayPal (PYPL.O) has registered as an electronic systems operator in Indonesia; and its…
AXA’s Shares Surge As Insurer Unveils Share Buyback And Higher H1 Profits.
French insurer AXA announced a new share buyback programme as it posted a 3% rise in first-half net profit,…
US Slips Into Recession After GDP Contracts By 0.9% In Q2 2022.
The United States of America recorded a 0.9% contraction in its gross domestic product in the second quarter of…
NNPC Commercialisation May Affect Govt Finances – Nigeria.
A member of the Nigerian Economic Summit Group, Dr Ikenna Nwaosu, says the recent commercialisation of the…
United States’ Federal Reserve Raises Interest Rate By 0.75%
The Federal Reserve has raised its benchmark interest rates by 75 basis points for the second consecutive month in…
Central Bank Of Nigeria’s July 2022 Treasury Bills Auction Records 23%…
It is worth noting that, despite the rise in the interest rate, increased inflationary pressure to 18.6% in June…
KPMG Escapes Record Fine Over Carillion, Regenersis Audit Checks.
KPMG was to pay 14.4 million pounds after the accounting firm admit to providing false information. To its…
China Belt & Road Spending Dips In H1, With No Investment In Russia.
China's finance and investment spending in Belt and Road countries fell in the first half compared to a year…
Hungary Blocks EU Deal On 15% Minimum Corporate Tax
Hungary has blocked an EU directive that would impose a 15% minimum tax on multinational corporations,…
Pension operators invest N1.99tn via bank placement
Pension funds fixed in bank placements rose by N520.25bn from N1.64tn as of the end of April 2021 to N1.99tn as of…
Alpha Bank To Sell Bad Loan Portfolio To Hoist Finance.
Alpha Bank (ACBr.AT), one of Greece's four largest lenders, said it signed a binding agreement to sell; a 400…
Gogo Inc. To Report Second Quarter 2022 Financial Results On August 5, 2022
Gogo Inc. the world's largest provider of broadband connectivity services for the business aviation market,…
As Borrowing Costs Rise, Canadian Companies Look To Delay Expansion Plans.
Some Canadian businesses are reconsidering their expansion plans after the central bank's surprise full…
China Takes Steps To Ease Up On Regulatory Crackdown As Economy Slows
Chinese authorities imposed a $1.2 billion fine on ride-hailing firm Didi Global Inc, a move that signalled an…
Exchange Rate Skyrockets To N644/$1 At Peer-To-Peer Market As Forex Scarcity…
Wednesday, 20th July 2022: The exchange rate between the naira and the US dollar closed at N426.58/$1; at the…
China Fines Didi Global $1.2 Billion For Violating Data Security Laws.
China's cybersecurity regulator fined Didi Global Inc $1.2 billion, concluding a probe that forced the…