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.…
Category: Finance
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…
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…
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…