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…
Category: Finance
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…
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…
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.…