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Finance
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…
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…
Billionaire Investor, Ken Langone, Highlights Three Things All Businesses Need In…
Billionaire investor and philanthropist, Ken Langone has pointed out three core business principles that worked…
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…
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…
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…
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…
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…
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…
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…
Russia To Block Sale Of Foreign Banks’ Russian Subsidiaries- Ifax Cites…
Russia will block the sale of foreign banks' Russian subsidiaries while Russian banks abroad cannot function…
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…
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…