Rivian Prices IPO At $78 A Share, Valuing Electric Vehicle Company At $66.5 Billion
Rivian Automotive, the electric vehicle maker backed by Amazon and Ford, priced its IPO on Tuesday at $78 a share. The deal values Rivian…
Category: Market
Nigerian Raw Sugar Imports Gulp N580.8bn
Nigerian firms backed by Federal Government’s Backward Integrated Programme (BIP) have taken delivery of raw sugar valued at N580.8 billion…
Africa’s 125.8bn Crude Oil Reserves Slump by 500m Barrels in 2021
The 125.8 billion crude oil reserves owned by 17 African countries have depleted by about 500 million barrels this year…
Mobile Money Service Approval Sends MTN Nigeria Shares Up 9.34% To All Time High
Shares of Nigeria’s second biggest listed company MTN Nigeria MTNN.LG rose 9.34% to an all time high on Monday after…
Transactions In Fixed Income, Currency Market Up 94.9%
Turnover in the fixed income and currency (FIC) market rose to N24.03 trillion in September, 2021, representing a 94.89 percent…
Meta Launches Facebook Business Coach For SMBs In Africa
Meta, an American multinational technology company, said it will be launching Facebook Business Coach, an innovative and easily accessible way…
Cooking Gas Price Jumps By 240%, Marketers Halt Imports
Importers of Liquefied Petroleum Gas, popularly called cooking gas, have stopped importing the commodity. Investigations also show that the cost…
Don’t Create Artificial Fuel Scarcity, NNPC Cautions Nigerians
The Nigerian National Petroleum Corporation (NNPC) has once cautioned members of the public against engaging in panic buying of petrol,…
British Government Sells About £400 Million Of NatWest Shares
The U.K. government has sold roughly 400 million pounds ($540 million) worth of shares in NatWest Group Plc in the…
Pound Recoups Some Post-BOE Losses, Holds Near 5-Week Low
The pound rose on Monday off five-week lows touched last week against the dollar and euro, clawing back some of…
Nigerians Are Safe With 5G Network – FG Clarifies
The Executive Vice Chairman of the National Communications Commission, Prof. Umar Danbatta on Monday in Abuja again clarified that Nigerians…
Uber Posts Net Loss Of $2.4 Billion In Q3, But Delivery Business Outperforms
On Thursday, November 4, 2021, Uber announced its third-quarter earnings. In after-hours trading, shares rose 1% after a dip.A drop…
Meta (Facebook) Plans To Open It’s First Retail Store
Meta is in discussion and may soon open its first retail store as it looks to break into the metaverse…
Shares In Asia-Pacific Market Mixed; Bitcoin Touches Record High
Shares in Asia-Pacific were mixed in Monday trade following overnight gains on Wall Street that took the major indexes to…
CBN 100 For 100 PPP Maximum Is N5 Billion
The Central Bank of Nigeria has fixed the maximum loan amount that a participant in its newly introduced initiative, called…
Rainoil Acquires Majority Stake In Eterna Plc
Rainoil Limited, a leading player in the downstream oil and gas industry, has completed the acquisition of majority shares in…
Cryptocurrency Market Now Worth Over $3 Billion
The world cryptocurrency market is worth more than $3 trillion for the first time, according to calculations Monday, as mainstream investors…
Yuan Steady Against A Firm Dollar After Strong China Trade Data
The yuan hovered around 6.40 per dollar on Monday as strong Chinese trade data lent support and helped offset strength…
Customs Explores E-Naira For Duty Collection
The Nigeria Customs Service (NCS) has expressed readiness to begin collection of import duty with the e-naira that was recently…
Freight Forwarders Vowed To Resume Industrial Action
Freight forwarders have vowed to resume the suspended industrial action at the expiration of a new notice issued to international…
N4tr Power Liquidity Crisis: Stakeholders Urge CBN To Review Interventions
Stakeholders in the Nigerian power sector are unsettled on the need for the Central Bank of Nigeria (CBN) to continue…
CBN Confiscates 67,000 Counterfeit Naira Notes In 2020
Higher banknotes’ share of value of currency in circulation is 98% A total of 67,265 banknotes with a nominal value…
Japan Economic Stimulus Seen Topping $265 Billion, Require New Debt
Japan is considering an economic stimulus package worth more than 30 trillion yen ($265 billion) aimed at easing the pain…
China’s Crude Oil Imports Plunged In Oct Fall To Lowest In Three Years
China’s crude oil imports plunged in October to the lowest since September 2018, as large state-owned refiners withheld purchases because…
CBN’s Suspension Of Foreign Exchange Supply To BDCs Boosts Banks’ Income As 6 DMBs Rake In N145.6bn
With Central Bank of Nigeria (CBN) suspending Foreign Exchange (FX) supply to Bureau De Changes (BDCs), a total of six…
Still On Osinbajo’s Call To Float Naira
What other options do we have to increase the supply side of forex to the Nigerian economy, or do we…
US-Based At One Ventures Leads Round For Electric Vehicle Manufacturer
Opibus, the first company in Kenya to commercially future-proof diesel and gasoline vehicles by converting them to electric, is set…