US Stocks Set For A Rebound
There has been a surge in air travel with this year’s spring break, but a recovery in flights by business travelers is much farther off, according to credit rating agency…
Dangote Cement To Pay Over N97billion In Corporate Tax For 2020
Africa’s largest cement producer, Dangote Cement Plc has remained a major contributor to the economy with a tax charge of N97 billion for the financial year ended 31st December 2020,…
BUA Chairman Rabiu Launches $100m Annual Africa Fund
The Abdul Samad Rabiu Initiative has launched a $100m Annual Africa Fund for social development and renewal; $50m to Nigeria and $50m to the rest of the continent. The Chairman…
Federal Government Certifies 269 Soil Doctors, Agriculture Extension Workers
The Federal Government on Tuesday announced that it had issued certificates to 269 soil doctors and agriculture extension workers and provided test kits to facilitate their field operations. It said…
Federal Government Justifies $100 Charges, Others Imposed On Nigerians In Diaspora
The Federal Government has said charges and levies imposed on Nigerians in diaspora at the foreign missions are due to paucity of funds to run operations. The Minister of Foreign…
Musk Says ‘Can Now Buy A Tesla With Bitcoin’
Tesla Inc’s Elon Musk tweeted here on Wednesday, “you can now buy a Tesla with bitcoin.” -Reuters
Asian Shares Hit Two-Week Lows, Dollar Gains As Investors Scurry For Cover
Asian shares skidded to a two-week trough on Wednesday and the dollar neared four-month highs as coronavirus lockdowns in Europe and potential U.S. tax hikes hit risk appetite, leading to…
Toyota To Reinvest In Isuzu To Partner On Connected Commercial Vehicles, Fuel Cells
Toyota Motor Corp will reinvest in Isuzu Motors Ltd to work together on connected commercial vehicles and fuel cells, the Nikkei reported on Wednesday. Toyota truck unit Hino Motors Ltd…
Brazil Central Bank Aims To Prevent 2021 Inflation From Infecting 2022
Brazil’s central bank stands ready to raise interest rates by another 75 basis points in May in order to bring inflation back to target this year and keep 2022 inflation…
AfCTA: Nigeria Plans $50bn Intra-Africa Exports
The National Action Committee on African Continental Free Trade Area Agreement has disclosed plans to achieve economically viable communities in Nigeria by growing its intra-Africa export trade volume to $50bn…
AB Volvo Shares Fall 7% After Warning Chip Shortage To Hit Output
Shares in AB Volvo fell 7% on Tuesday after the Swedish truckmaker warned of a substantial hit on production in the second quarter due to the global shortage of semiconductors.…
Flourish Ventures Opens Up New Office In Nairobi, Kenya To Support African Fintech Startups
The African fintech startup scene is set for a boost after Flourish Ventures, a global fintech venture capital firm, announced a new office based in Nairobi to help its investment…
Valar Ventures Makes First Investment In Africa With Neo Bank Kuda
Launched in 2016 as lending platform Kudimoney, Kuda rebranded in June of 2019 and received a banking licence from the Central Bank of Nigeria (CBN) to launch a full-service mobile-only…
RisCura Launches Impact Fund-Of-Funds For South Africa
Purpose-driven investment firm RisCura is applying its institutional investment experience to impact investing and has launched the country’s first Impact fund of funds series. The firm says this is in…
China’s JD.com To Invest $800million In Dada Group
Chinese e-commerce firm JD.Com said on Monday it will invest $800 million in Dada Group, giving it a 51% stake in the Chinese on-demand delivery platform. -Reuters
Union Bank’s Annual Profit Rises To N25.4bn
Union Bank of Nigeria Plc has posted an increase of 2.8 per cent in its profit before tax for the 2020 financial year, compared to the previous year. Its pretax…
Central Bank Of Nigeria Reopens N50bn Covid Loan Portal For Households, Businesses
The Central Bank of Nigeria (CBN) is receiving applications for its N50 billion targeted credit facility (TCF) aimed at supporting households and micro, small and medium enterprises (MSMEs) affected by…
Forex Scarcity Hampering Airlines’ Operations, Says Onyema
Air Peace has said that it placed a firm order of Boeing 737 Max, which recently was recertified to resume operations. Chairman and Chief Executive Officer of the airline, Allen…
UBA: Strong Performance In A Difficult Year
United Bank for Africa (UBA) Plc’s total assets last year leapt two spaces to N7.70 trillions from N5.62 trillion in 2019, about 37 per cent increase. The balance sheet performance…
Stock Market Records N140bn Weekly Loss
The Nigerian stock market extended its decline last week as investors lost N140bn. The Nigerian Stock Exchange All-Share Index and market capitalisation depreciated by 0.69 per cent to close the…
US-Nigeria Investment Summit To Hold In New York
The US-Nigeria Investments Summit has announced it will hold a global trade and investment event for 2021 in September. The event will hold in New York, United States. The summit…
Capital Group Becomes Second-Biggest Investor In ABB
U.S.-based investment manager Capital Group has increased its stake in ABB to 5.05%, a regulatory filing showed on Friday, becoming the second-biggest shareholder in the Swiss engineering company. Capital, which…
Federal Government Discovers Gold Deposit Along Abuja-Nasarawa Border
Adegbite paid Abdullahi Sule, the Nasarawa state governor, a courtesy visit in Abuja on Wednesday. The minister said the mineral resources were discovered during an integrated mineral exploration project along…
Futures Rise As Spike In Bond Yields Eases
U.S. stock index futures edged higher on Friday following a steep pullback in the prior session as bond yields withdrew from 14-month peaks and oil prices retraced some losses. Oil…
Don’t Spend Over $1.5bn Embalming On A Dead Refinery – Dino Melaye Tells Buhari
Former Senator representing Kogi West Senatorial district, Dino Melaye has also faulted the approval of $1.5bn for the renovation of Port Harcourt refinery. According to Dino Melaye, the money is…
Bond Managers Say Pace Of Rise In U.S. Bond Yields ‘Unsettling’
The recent pace of the rise in yields in the U.S. Treasury market has been unsettling, according to several major bond fund managers who worry the market could be viewed…
Oil Extend Losses Amid Gloomy Demand Outlook
Oil prices fell on Friday for a sixth day in a row, down nearly 9% for the week, as a new wave of COVID-19 infections in particular across Europe spurred…
Pakistani Province Plans To Build Pilot Crypto Currency Mining Farms
The Pakistani province of Khyber Pakhtunkhwa is planning to build two hydroelectric-powered pilot “mining farms” to capitalise on a bullish global cryptocurrency market, a minister overseeing a new government crypto…
Britain Sets Sights On ‘Big Four’ Auditors In Market Shake-Up
Britain proposed weakening the market grip of “Big Four” auditors on Thursday and making company directors responsible for spotting fraud after the collapses of retailer BHS and builder Carillion. Directors…
Steeper And Higher: U.S. Bond Tantrum Averted, But Worries Remain
Markets may be less fearful of a “taper tantrum” after the Federal Reserve’s latest meeting, but the prospect of higher yields and a steeper yield curve is likely to remain…