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…
Category: Finance
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 expected; after the central…
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 second month…
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 U.S.…
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 President, William Ruto winner of…
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, designed…
General Atlantic Hires Durham For Tech Buyouts.
Private equity firm General Atlantic has hired veteran technology dealmaker Jonathan Durham to expand in corporate buyouts; an area in…
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 customers can now access its services,…
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, driving…
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 2022.…
NNPC Commercialisation May Affect Govt Finances – Nigeria.
A member of the Nigerian Economic Summit Group, Dr Ikenna Nwaosu, says the recent commercialisation of the Nigerian National Petroleum…
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 a…
Central Bank Of Nigeria’s July 2022 Treasury Bills Auction Records 23% Oversubscription.
It is worth noting that, despite the rise in the interest rate, increased inflationary pressure to 18.6% in June 2022;…
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 regulator during…
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 earlier.…
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, arguing the levy would deal…
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…
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 million…
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, today announced that it will…
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 percentage point interest rate hike, and…
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 end to…
Exchange Rate Skyrockets To N644/$1 At Peer-To-Peer Market As Forex Scarcity Lingers.
Wednesday, 20th July 2022: The exchange rate between the naira and the US dollar closed at N426.58/$1; at the Investors…
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 ride-hailing leader; to delist from…
EFCC Extradites Nigerian Fraud Suspect On FBI’s Wanted List To US.
A wire fraud suspect, Fatade Idowu Olamilekan, who is on the wanted list of the Federal Bureau of Investigation (FBI)…
Billionaire Investor, Ken Langone, Highlights Three Things All Businesses Need In Order To Grow.
Billionaire investor and philanthropist, Ken Langone has pointed out three core business principles that worked for him during his career.…
Official Exchange Rate Appreciates As Forex Supply Surges By 301% To $389 Million.
The exchange rate between the naira and the US dollar closed at N424.17/$1 at the official Investors. Naira appreciated significantly against…
South Korea Unbothered About Capital Outflows, Finance Minister Says
Choo Kyung-ho, South Korea’s finance minister has shrugged off the short-term dangers of capital outflows from the Asian financial system…
Chinese Banks Hold Lending Rates as PBOC Remains Cautious
Chinese banks held their main lending rates steady in the absence of more easing from the central bank, which is…