Dutch Central Bank Fines Binance 3.3 Million Euros.
The Dutch central bank (DNB) said it had fined Binance, one of the biggest cryptocurrency exchanges; 3.3 million euros ($3.35…
Category: Finance
More Worries Over Rising Inflation, Headwinds As MPC Meets Today
In the face of economic and financial challenges, members of the rate-fixing arm of the Central Bank of Nigeria and…
Airtel Pushes SWOOTs Capitalization Up By N316.86 Billion
The combined market capitalization of stocks worth over one trillion (SWOOTs); appreciated by 1.58% to close at N20.74 trillion from…
Dollar Prowls Just Below Highs As Euro Gasps For Gas
The dollar began the week nudging down from multi-year highs; with hotter-than-forecast inflation reading in New Zealand lending modest support…
Russia To Block Sale Of Foreign Banks’ Russian Subsidiaries- Ifax Cites Finance Ministry
Russia will block the sale of foreign banks’ Russian subsidiaries while Russian banks abroad cannot function normally; the Interfax news…
Amidst Rising Inflation, Telcos Are Rolling Out Cheaper Tariff Plans
Despite the rising inflation across sectors of the economy and globally, telecommunications operators in Nigeria are still rolling out more…
Morgan Stanley Profit Slumps 30% As Deals Stall, Recession Risks Rise.
Morgan Stanley’s second-quarter profit slumped 30%, it reported, falling short of analysts’ estimates for the first time in nine quarters;…
Banks’ Borrowings From CBN Hits N595.34bn In Two Months
The Central Bank of Nigeria (CBN) through its Standing Lending Facility in two months, lent to commercial banks a total…
Shareholders Of Nestle Nigeria Lose N124.05 billion Year-To-Date On Sell Pressure
Sell pressure witnessed on the shares of Nestle Nigeria Plc since the beginning of the year has resulted in investors…
Stakefair Launches, Raises $670,000 In Pre-Seed Funding
Stakefair, a Decentralized Finance (DeFi) company that is poised to disrupt the Real-Money Gaming industry, has launched. Stakefair allows users…
Global Startup Funding Fell 23% In Q2 2022, Largest Drop In About A Decade.
Venture capitalists are reckoning with their worst quarter in almost a decade as economic uncertainty. And lackluster returns have prompted…
Tizeti Declares First Dividend Of N2.00 Per Share For Year Ended December 2021.
Pioneer solar-based internet service provider in West Africa, Tizeti Network Limited; is set to pay its shareholders its first dividend…
Bears Maintain Dominance As Stock Market Valuation Dips By N90 Billion.
The Nigerian Exchange Group closed negative amidst buy-interests and sell-offs as bears dominated proceedings. Weighing down the broad market by…
Kadmos, a salary payments platform for migrant workers, raises $29.5M
Companies from across the industrial spectrum often rely on a migrant workforce employment. But being away from their domestic jurisdiction…
Russia’s Sberbank Executes First Digital Asset Issue On Its Platform.
Russia’s dominant lender Sberbank (SBER.MM) said it had carried out the first digital financial asset transaction on its own platform.…
Twitter Hires Law Firm Wachtell To Sue Musk After Pulling Out Of $44 Billion Deal
Twitter Inc has hired U.S. law firm Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk;…
Brazil’s Itau To Buy 35% Stake In Broker Avenue For $92 Mln, Eyes Control Later
Brazil’s largest private lender Itau Unibanco Holding SA (ITUB4.SA) has agreed to acquire control of Avenue; a brokerage that provides…
Essity Buys 80% Of Canada’s Knix Wear For $313 Million
Sweden’s Essity on Friday said it had agreed to buy 80% of Canadian company Knix Wear. A maker of leakproof…
CBN Releases Guidelines For Digital Financial Service Awareness
The Central Bank of Nigeria has issued an exposure draft for the digital financial services awareness guidelines to address gaps…
External Reserves Gain $679.12M In One Month
NIGERIA’S external reserves returned to a growth path after gaining $679.12m. However, Figures obtained from the Central Bank of Nigeria…
NatWest Hands Staff Pay Rise To Ease Impact Of Soaring Inflation
British bank NatWest has joined rivals in handing out an unscheduled pay boost; to staff to help shield them from…
DeFi Ecosystem Lost $156 Billion In Total Value Locked In Q2 2022
Currently, the cryptocurrency space has lost a great deal; especially with Bitcoin posting its worst quarterly performance in 11 years.…
Airtel Reduces Debt To Parent Company By $450 Million
Airtel Africa announced that it has redeemed up to $450 million out of the $1 billion loan it owes to…
Ardova Plc Blames Subsidiaries For N3.8 Billion Full Year Loss
Oil and gas retail giant, Ardova Plc reported a loss of N3.8 billion for the year ended December 2021. This…
Debt Management Office Lists $1.25 Billion Eurobond On NGX, FMDQ
The Debt Management Office (DMO) has announced plans to list the 8.375%, $1.25 billion; March 2029 Eurobond on the Nigerian…
Neimeth To Commence N3.67Billion Right Issue In August 2022
Neimeth International Pharmaceuticals Plc has concluded arrangements to commence its N3.67 billion right issue; to the existing shareholders of the…
China Tightens Rules On $1.3 Trln Credit Card Business
China unveiled tighter rules to better regulate its $1.3 trillion credit card industry; further urging lenders to adopt a “prudent”…
Concerns As 121 Firms Delisted From Nigeria’s Stock Exchange In 20 Years
According to data got from the Exchange; they has delisted 121 quoted companies from the official list of Nigerian Exchange…
FG Approves N22.45bn For Petroleum, Environment Ministries- Nigeria.
The Federal Government, approved of N22.45bn for projects in the Ministries of Petroleum Resources and Environment. The Minister of Environment,…
Merck In Advanced Talks To Buy Seagen In Nearly $40-Billion Deal – WSJ
Drugmaker Merck & Co is in advanced talks to buy cancer-focused biotech company Seagen Inc in a deal; that could…