Oil Prices Rise On Expected Economic Recovery, Likely Drawdown In Oil Stocks
Oil prices rose on Tuesday on expectations of a recovery in the global economy after the U.S. Senate approved a $1.9 trillion stimulus bill and on a likely drawdown in…
Asian Stocks Recover On Firmer Futures, Retreat In U.S. Yields
Asian stocks recovered from earlier losses on Tuesday, lifted by firmer U.S. equity futures and central bank comments aimed at soothing fears about rising bond yields and inflation. A pullback…
Millionaire Saudi Prince To Buy French Club Chateauroux Published March 8, 2021
A self-confessed lover of “sport and money”, millionaire Saudi Prince Abdullah bin Mosaad is about to become the owner of humble French second division club Chateauroux. Already the owner of…
#GiveHerBetaHealth: GTBank Champions Access To Health Insurance For Women On International Women’s Day
As the 2021 International Women’s Day (IWD21) calls on people and organisations to #choosetochallenge for a better world for women, Guaranty Trust Bank plc (GTBank) has launched an initiative, tagged…
Panasonic To Buy U.S. Software Firm Blue Yonder For $6.5 Billion, Says Nikkei
Panasonic Corp will buy U.S. software firm Blue Yonder for 700 billion yen ($6.45 billion), the Nikkei reported on Monday, saying it was the Japanese electronics firm’s biggest acquisition since…
Dollar Stands Tall As U.S. Yields Resume Climb
The U.S. dollar gained on Monday, climbing towards a 3-1/2-month high, as a broad rise in Treasury yields spooked investor sentiment in stock markets. Having fallen 4% in the last…
Brent Hops Past $70 For First Time Since Pandemic Began After Saudi Attack
Brent crude futures climbed above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years,…
Iran Slips Record Volume Of Oil Into China, Reaches Out To Asian Clients For Trade Resumption
Iran has quietly moved record amounts of crude oil to top client China in recent months, while India’s state refiners have added Iranian oil to their annual import plans on…
Oil, Travel Stocks Boost European Shares
European shares rose on Monday, catching up with a late Friday rally on Wall Street, while oil majors like Royal Dutch Shell and BP jumped as crude prices were boosted…
Bitcoin’s Next Top Could Be Between $75K And $306K, Kraken Research Suggests
A reading of the historical data paints a promising picture for Bitcoin’s potential growth in 2021. Analysis of Bitcoin (BTC) price action dating back to 2011 suggests the coin price…
Nigeria’s Risk Premium Hits 1yr High Despite Rising Oil Prices
Investors are demanding higher returns from Nigeria to be holders of its debt as compensation for tolerating its high-risk environment, even at a time when oil prices are on a…
Crude Oil Hits $68 As Goldman Sachs Projects Prices May Rise To $80 By Q3
The price of Brent crude, against which Nigeria’s crude oil is priced, has risen to $68.03 per barrel following the decision of the Organisation of Petroleum Exporting Countries (OPEC) to…
How Cryptocurrency Trading Keeps Nigerians Engaged
Nigerians have continued to the Central Bank of Nigeria (CBN) over its directive to banks to stop the provision of financial services to cryptocurrency businesses, stating that some low-income Nigerians…
Oil Soars Above $67, Nigeria Earns Additional N318bn/Month
Nigeria may have earned over N318bn additionally in February as a result of the increase in crude oil price in the past one month. At the virtual presentation of the…
US Companies Plan $2.37Bn Investments In Nigeria
United States companies in Nigeria plan to invest over $2.37bn in Nigeria in the next three years, according to a new report. The 2020 Nigeria Economic Impact Survey, which was…
A New Era Of Volatility Begins, But Tech Inflows Continue: BofA
Investors poured billions of dollars into high-flying stocks even as the ongoing bond market rout led to sharp losses on Wall Street and kicked off a “new era of volatility”,…
Credit Suisse Winding Down Greensill-Linked Funds
Credit Suisse is winding down its supply chain finance funds which held most of their roughly $10 billion in notes backed by beleaguered Greensill Capital, it said on Friday. “The…
Bond scares linger, investors look to Powell
Worries about lofty U.S. bond yields hit global shares on Thursday as investors waited to see if Federal Reserve Chair Jerome Powell would address concerns about a rapid rise in…
Nigeria Records N4.9tr Investment Inflows In 5 Yrs
The Nigeria Investment Promotion Commission (NIPC) has said Nigeria’s annual investment inflows averaged $13 billion (about N4.940 trillion) in the last five years. Speaking at the ongoing Nigeria Finance Online…
Apple-Supplier Foxconn Flags Strong Start To Year As Lockdowns Spur Electronics Demand
Apple supplier Foxconn said it expects first-quarter revenue to rise more than 15% from a year earlier, boosted by strong iPhone sales and robust demand for electronics during lockdowns worldwide…
Volkswagen CEO Tweets, Musk-Style, On Market-Cap Milestone
When the market value of Germany’s Volkswagen rose above the 100-billion-euro mark on Wednesday for the first time since 2015, the boss of the normally staid carmaker took to Twitter,…
Tangerine Life Completes Merger With ARM Life
Tangerine Life Insurance Limited (previously known as Metropolitan Life Insurance Nigeria Limited), has, concluded its merger with ARM Life Plc. Tangerine is owned by Verod Capital, a leading private equity…
Samsung Considers Four Sites In U.S. For $17 Billion Chip Plant: Documents
Samsung Electronics Co Ltd is considering two sites in Arizona and another one in New York in addition to Austin, Texas, for a new $17 billion chip plant, according to…
Stock Market Reverses Gains As Index Drops By 0.59%
The Nigerian Stock Exchange (NSE) has reversed positive sentiment to close on a downturn yesterday as the shares of Nestle Nigeria and 25 others decline, leading to a fall of…
European Telcos Cash In On Tower Assets As High-Cost 5G Investment Looms
European telecoms firms are cashing in on the money-making power of masts, as tower companies line up to pay multi-billion dollar price tags for antennas buzzing with ever more data…
Las Vegas Sands To Sell Properties For About $6.25 Billion
Casino operator Las Vegas Sands Corp said on Wednesday it would sell its Las Vegas real estate property and operations to Apollo Global Management Inc for about $6.25 billion. The…
Investors Lose N120bn As Stocks Resume Decline
The Nigerian stock market, which began the month on a positive note, resumed its decline on Tuesday as 26 firms recorded price losses at the end of trading. The Nigerian…
We’re Treating Agriculture As Money Making Business — Federal Government Says
The Federal Government, Tuesday, assured that agriculture is being treated as moneymaking business and to create wealth for agribusiness players. The assurance was made in a keynote address delivered by…
Dollar On Defensive As Risk Sentiment Recovers Amid Retreat In U.S. Yields; Aussie Gains
The safe-haven U.S. dollar remained broadly weaker on Wednesday as Treasury yields retreated further, restoring some calm to global markets and reigniting demand for riskier assets. Commodity-linked currencies including the…
Japan’s SMFG Likely To Halt All New Lending To Coal-Powered Plants, Sources Say
Japan’s Sumitomo Mitsui Financial Group is likely to halt all new financing to coal-fired power plants, including the most efficient ones, two sources said, reflecting growing pressure from investors and…