The Great Exit: Central Banks Line Up To Taper Emergency Stimulus
The Bank of Canada set the taper ball rolling last week, becoming the first major central bank to cut back on pandemic-era money-printing stimulus programmes. So who’s next? The big…
European Shares Hit Highs As Markets Upbeat About Recovery Prospects
World shares traded near record highs on Monday, as markets were generally upbeat about the prospects for a global economic recovery from COVID-19, ahead of a busy week for earnings.…
Dollar Pinned Near One-Month Low Amid Subdued U.S. Yields
The dollar was pinned near a one-month low to major peers on Monday, with Treasury yields hovering near the lowest in five weeks, after the U.S. Federal Reserve reiterated its…
Microsoft To Invest $1 bln In Malaysia To Set Up Data Centres – Malaysian PM
Microsoft Corporation will invest $1 billion over the next five years in Malaysia as part of a new partnership programme with government agencies and local companies, the Southeast Asian nation’s…
Trade Advisors Pledge French Investment In Lagos Free Zone
The Conseillers du Commerce Exterieur (French Foreign Trade Advisors) has expressed readiness to invest massively in the Lagos Free Zone being developed by the Tolaram Group as they endorsed the…
Federal Government Recorded N485.51bn Fiscal Deficit In January – Central Bank Of Nigeria
The Federal Government recorded N485.51bn fiscal deficit in January, statistics obtained from the Central Bank of Nigeria have shown. According to the monthly economic report for January released by the…
India May Build New Coal Plants Due To Low Cost Despite Climate Change
India may build new coal-fired power plants as they generate the cheapest power, according to a draft electricity policy document seen by Reuters, despite growing calls from environmentalists to deter…
The ‘Metaverse’ Bet: Crypto-Rich Investors Snap Up Virtual Real Estate
What do you do with a $69 million artwork that doesn’t physically exist? That’s the question faced by the Singapore-based investor calling himself Metakovan, who made headlines last month when…
Bitcoin Price Drops After Turkey Bans Cryptocurrency Payments
The price of bitcoin (BTC-USD) descended from record highs on Friday following a decision by Turkey’s central bank to ban cryptocurrencies for payments. The Central Bank of the Republic of…
SEC, CBN In Talks On Crypto Market Regulation
The Securities and Exchange Commission has said it is in discussion with the Central Bank of Nigeria on how to better understand and regulate the cryptocurrency market in the country.…
Why Banks Need To Pay Attention To Where A Digital Euro Is Heading
The European Central Bank makes clear that the development of its “digital euro” will take several years. Yet given the geopolitical context and the potential impact, banks should better pay…
Central Bank Of Nigeria Mulls Forex Ban On Sugar, Wheat Importation
The Central Bank of Nigeria (CBN) says it is planning to include sugar and wheat on the list of import items banned from accessing foreign exchange (FX). Godwin Emefiele, governor…
Nine Power Plants Shut, Federal Government Apologises For Outages
The Federal Government on Thursday said nine power plants were currently shut down, as this was why power outages had persisted recently across the country. Minister of Power, Sale Mamman,…
Dollar Heads For Second weekly Loss On Fed’s Lower-For-Longer Stance
The dollar headed for its worst back-to-back weekly drop this year amid an extended retreat in Treasury yields as investors increasingly bought into the Federal Reserve’s insistence of keeping an…
World Stocks Near Record Highs As China, U.S. Data Back Global Recovery Hopes Hideyuki Sano
Global stocks stood near record highs on Friday after strong U.S. and Chinese economic data cemented expectations of a solid global recovery from the coronavirus-induced slump. European shares are expected…
Why Wall Street Is So Excited About Bank Stocks
For years, Wall Street turned up its nose at America’s bank stocks. Now, the sector is getting tons of love as investors eye the economic recovery, which is set to…
JPMorgan Profit Leaps After Reserve Release Boost
-JPMorgan Chase & Co’s earnings jumped almost 400% in the first quarter, blowing past estimates as the largest U.S. bank released more than $5 billion in reserves it had set…
NNPC Partners Kebbi On Renewable Energy Project
The Nigerian National Petroleum Corporation (NNPC) has restated its commitment to the partnership with the Government of Kebbi State on the production of biofuels. Describing the project as viable and…
NAIC Pays N1.7bn Claims To Farmers
The Nigerian Agricultural Insurance Corporation (NAIC) said it paid a total of N1.7 billion claims to over 5,000 farmers in the past two years. NAIC, which is the only federal…
Ganduje Disburses N148m To 1,400 Public Schools
The Kano State Governor, Mr. Abdullahi Umar Ganduje, has commenced the disbursement of N148 million upkeep grants for 1,400 public secondary schools across the state. Ganduje explained yesterday that his…
ITA, NEPC To Train Agric Entrepreneurs
As part of its commitment to boost trade relationships with Nigeria, the Italian Trade Agency has unveiled its training programme for entrepreneurs in the agriculture sector. The Italian Trade Agency…
Cryptocurrency Market Now Worth $2tn – Report
The cryptocurrency market has grown exponentially in 2021 and is now worth a staggering $2.0 trillion as it increasingly attracts interest from big names on Wall Street. As digital currency…
We’re Losing Millions Of Dollars Selling Cements In Nigeria-Dangotedo
Dangote Group says its cement is cheaper in Nigeria than in Ghana and that it is losing dollar earnings focusing on the Nigerian market.“To ensure that we meet local demands,…
France To Open €3.5bn Initiative For SMEs In Nigeria
The French Minister of Foreign Trade and Attractiveness, Franck Riester, had arrived in Nigeria to open the ‘Choose Africa’ conference, a €3.5 billion initiative by the France President, Emmanuel Macron,…
LVMH Shares Hit Record High After Strong Sales Figures
LVMH’s shares rose to record highs on Wednesday after the world’s biggest luxury goods company posted sales figures that showed it had bounced back far more quickly than expected in…
KKR-Backed Pizza Platform Slice Raises $40 Million In Latest Funding Round
Slice, an online ordering platform which helps small pizzerias compete with large chains, said on Wednesday it raised $40 million in its latest funding round led by Cross Creek, with…
World Stocks Hit Record High As Bond Yields Ease
Global stock markets rose to a record high on Wednesday as bond yields eased after data showed U.S. inflation was not rising wildly as the economy reopens. Most Asia-Pacific share…
Coinbase Listing Marks Latest Step In Crypto’s March To The Mainstream
Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, will list on the Nasdaq on Wednesday, marking a milestone in the journey of virtual currencies from niche technology to mainstream asset.…
JPMorgan Downgrades Emerging Market Currencies To ‘Underweight’
Investment bank JPMorgan recommended selling emerging market currencies on Tuesday, completing a 180-degree pivot from the start of the year when it was backing them to have a good run.…
Black Americans Are Embracing Stocks and Bitcoin to Make Up for Stolen Time
They’ve heard it all before. Set a budget. Avoid high-interest debt. And, oh yes, it sure is smart to get that 401(k) match from your employer. But for a new…