Real Time Financial News Website
According to the Nigerian Ports Authority, between 2011 and 2022, it transferred N490. 229 billion to the federal government’s consolidated revenue fund. Mohammed Bello-Koko, the managing director of NPA, stated…
The Central Bank of Nigeria (CBN) increased its main monetary policy rate by 150 basis points (bps) on September 27. 5%, but also banks’ cash reserve requirement to a minimum…
Economic and financial experts have expressed grave concerns about Nigeria’s soaring debt load; which has posed a severe threat to the country’s economy as a result of the country using…
The baseline interest rate set by the US Federal Reserve has increased by 0.75 percentage points. New predictions indicate that the Fed’s target policy rate will increase to a range…
According to a press release issued by the management and signed the regulatory authority; the highest paid employee makes less than N1 million per month. This goes against a previous…
The auctioning of two 5G spectrums in 2023 is expected to bring in N500 billion for the federal govt, according to the Nigerian Communication Commission (NCC). According to the executive…
In the first two months of the current fiscal year, Kenya’s pension bill decreased by Sh17. 94 billion compared to the same period last year, relieving strain on the Treasury;…
In order to help the country get through the harsh economic situation it is currently experiencing as a result of the negative impacts of the deadly coronavirus illness (COVID-19) epidemic…
According to figures released, Turkey’s annual inflation increased to 80. 21% in August, somewhat less than expected; after the central bank unexpectedly reduced interest rates and exacerbated a nearly one-year-old…
Russia’s central bank said on Wednesday that its business climate index remained in the positive range for the second month running in August; with future expectations improving as businesses see…
Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America (BAC.N) and Citigroup (C.N), wrote…
Kenya’s currency, the shilling weakened against the dollar as the country’s election commission; announced Deputy President, William Ruto winner of the country’s election the day before. On Monday, August 15th,…
President Joe Biden signed into law a $430 billion bill that is the biggest climate package in U.S. History, designed to cut domestic greenhouse gas emissions as well as lower…
Private equity firm General Atlantic has hired veteran technology dealmaker Jonathan Durham to expand in corporate buyouts; an area in which it has done little because of its focus on…
U.S. payments firm PayPal (PYPL.O) has registered as an electronic systems operator in Indonesia; and its customers can now access its services, the company said. PayPal was one of several…
French insurer AXA announced a new share buyback programme as it posted a 3% rise in first-half net profit, driving up its stock price. AXA, Europe’s second-biggest insurer behind Germany’s…
The United States of America recorded a 0.9% contraction in its gross domestic product in the second quarter of 2022. Following a 1.6% annual decline recorded in the previous quarter.…
A member of the Nigerian Economic Summit Group, Dr Ikenna Nwaosu, says the recent commercialisation of the Nigerian National Petroleum Corporation by the Federal Government may affect government finances. Nwaosu…
The Federal Reserve has raised its benchmark interest rates by 75 basis points for the second consecutive month in a row in a bid to tame the increasing rate of…
It is worth noting that, despite the rise in the interest rate, increased inflationary pressure to 18.6% in June 2022; still means that the treasury bills printed a negative real…
KPMG was to pay 14.4 million pounds after the accounting firm admit to providing false information. To its regulator during spot checks on audits of construction firm Carillion and outsourcing…
China’s finance and investment spending in Belt and Road countries fell in the first half compared to a year earlier. Saudi Arabia was the biggest recipient of Chinese investments over…
Hungary has blocked an EU directive that would impose a 15% minimum tax on multinational corporations, arguing the levy would deal a “low blow” to European competitiveness and endanger jobs.…
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 the end of April 2022. Figures obtained from…
Alpha Bank (ACBr.AT), one of Greece’s four largest lenders, said it signed a binding agreement to sell; a 400 million euro ($407 million) portfolio of unsecured bad loans to Hoist…
Gogo Inc. the world’s largest provider of broadband connectivity services for the business aviation market, today announced that it will release its financial results for the second quarter of 2022…
Some Canadian businesses are reconsidering their expansion plans after the central bank’s surprise full percentage point interest rate hike, and instead are sharpening their focus on protecting profits, analysts say.…
Chinese authorities imposed a $1.2 billion fine on ride-hailing firm Didi Global Inc, a move that signalled an end to a year-long probe into the ride-hailing firm’s cybersecurity practices. read…
Wednesday, 20th July 2022: The exchange rate between the naira and the US dollar closed at N426.58/$1; at the Investors and Exporters (I&E) window, where forex is traded officially. Naira…
China’s cybersecurity regulator fined Didi Global Inc $1.2 billion, concluding a probe that forced the ride-hailing leader; to delist from New York within a year of its debut and made…