Brent Falls Below $100 For The First Time Since April 2022.
The price of the global benchmark has fallen to a level not traded in 12 weeks. As a result of…
Category: Finance
Credit Suisse Names New Head Of Swiss Private Banking.
Credit Suisse (CSGN.S) said it was naming Roger Suter its new head of private banking in Switzerland. Succeeding current manager…
Sri Lanka c.Bank Raises Rates, Targets Inflation Despite Contraction In Economy
Sri Lanka’s central bank raised key interest rates to the highest in two decades to bring down record inflation; despite…
Solid Minerals Imports Rise By 74% In 12 Months
Recently, the value of solid minerals imports rose by 74.39% from N23.56bn in the first quarter of 2021 to N41.09bn…
Oil Prices Bounce Back From Tuesday Tumble As Supply Concerns Return
Oil prices rose as much as nearly 3% before paring some gains as investors piled back into the market after…
TrustBanc Raises N5.85bn From Series 7 And 8 Commercial Papers; Issue Achieves 117% Subscription
TrustBanc Holdings Limited (TrustBanc), the parent company of three regulated financial services companies. They have successfully closed its series 7…
FG To Generate N23 Billion In 30 Years From Concession Of Onitsha Port
The Federal Government has signed a deal for the concession of the Onitsha port with the Universal Elysium Consortium. Therefore,…
Bullish Nigerian Exchange Gains N5.64 Trillion In HY’2022
Equity trading on the floor of the Nigerian Exchange Limited (NGX) recorded a gain of N5.639 trillion during the half-year…
Naira Falls Further At The Official Market As Forex Turnover Declines.
Thursday, 30th June 2022: The exchange rate between the naira and the US dollar closed at N425.05/$1 at the Investors…
Mortgage Refinance Demand Plunges 60 Percent, As Rates Hit Their Highest Level Since 2018
Mortgage rates took another jump higher last week, taking their toll on current borrowers who might have wanted to refinance.…
FAAC Allocation Declines By 30%, States’ Finances May Worsen
Revenue allocation to federal, state and local governments has declined from a peak of N970.57bn in July 2021 to N680.783bn…
Rising Inflation, Others Worsening Naira Volatility
The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that rising inflation; among other…
Stocks Rise, Dollar Struggles On Fed Bets
World shares rose on and it pinned the dollar near five-week lows on hopes of an eventual slowdown in U.S.…
N50Trn Debt Stock: Again IMF Promises More Funds For Nigeria
Speaking at the National Economic Dialogue on ‘Critical Challenges Confronting the Nigerian Economy’ organized by the Nigerian Economic Summit Group…
Proposed Tariff Hike May Raise Telcos’ Voice Revenue To N1.55tn–NCC report
Telecommunications companies’ voice revenue could jump by at least N442.57bn to N1.55tn in a year. If the price floor of…
Asian Stocks Lose Bounce From Shorter China quarantine, Slip On Inflation Fears
Stocks fell across Asia on Wednesday morning, extending overnight losses on Wall Street amid concerns over recession, inflation and high…
Britons Seek Cheaper Grocery Options As Inflation Bites – NielsenIQ
Britons are shifting to cheaper food alternatives in their supermarket shopping as they try to navigate a worsening cost of…
Column: Hedge Funds Turn Tail As Commodities Crumble On Recession Rumble: McGeever
Buy and hold, maximum long. That has basically been the strategy for commodity hedge funds for the last couple of…
Boost For Luxury London Property Prices As Russians Locked In.
The war in Ukraine is making it hard for even unsanctioned Russians to sell exclusive residential property in Britain. Adding…
Investors In MTN Public Offer Gain N35 Billion In 6 Months
Investors in MTN’s Public Offer for Sale conducted in December 2021 have gained an estimated N35 billion; since the offer…
FG spends N1.243tn Monthly As Fuel Subsidy Hits N600/Litre – Operators
The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit; popularly called petrol, consumed…
Hedge Fund Citadel To Move Headquarters To Miami From Chicago
Citadel, the $51 billion hedge fund founded by billionaire investor Ken Griffin, is moving its global headquarters to Miami from…
Debt Servicing Doubles, Hits N896bn In Three Months– Report
Nigeria’s debt servicing bill has increased by 109% to N896.56bn, findings. As a result, the country has also spent N3.83tn…
DisCos Revenue Surges By 47% To Hit N757bn – Report
Revenue collection by the 11 distribution companies increased by 47% to N757bn in 2021. The Association of Nigerian Electricity Distributors’…
Bitcoin On Its Way To $32,000 As On-Chain Data Suggests Net Accumulation
Cryptocurrency bulls took over the market on Monday, with Bitcoin leading the charge, fighting its way through the $30,000 resistance…
Reps go after 77 oil firms over unremitted N2.6tn revenue
The House of Representatives commenced an investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating…
CBN to Introduce Bank Cash Hubs, Releases Guideline
The Central Bank of Nigeria has released a draft guideline for the registration and operation of Bank Neutral Cash Hubs…
CBN increases currency in circulation by N418bn over cash transactions
THE currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures…
Africa Oil Corp Runs Out Of Production Cash
Canadian oil explorer Africa Oil, which holds a 25 percent stake in Turkana exploration venture, has run out of cash…
Company Income Tax Dropped By N124.71Bn In 2021 Q4 -NBS
Company Income Tax (CIT) recorded a N124.71 billion decline from N472.52 billion in quarter three, 2021 to N347.81 billion in…