Category: Market
China’s JD.com Smashes Through Its Singles Day Record With $48.7 Billion In Sales And Counting
Chinese e-commerce giant JD.com has racked up 311.4 billion yuan ($48.6 billion) in sales across its platforms as of 14:09…
Construction Giant Ronchess PLC Gets Listed In The Nigerian Stock Exchange
The Nigerian Exchange (formerly known as the Nigerian Stock Exchange), has approved the listing of Ronchess Global Resources Plc on…
Nigeria Holds 29% Africa’s Total Oil Reserve – OPEC
The Organization of Petroleum Exporting Countries (OPEC) has said Africa’s proven oil reserves reached 126 billion barrels in 2019, with…
Emirates’ Loss Narrows To $1.6bn As Travel Restrictions Ease
Emirates Group has reported that its net loss for the first half of the 2021/2022 financial year fell to $1.6bn…
FEC Approves 2021-2025 National Development Plan, Projects N348.7tn Investments
The Federal Executive Council presided over by Vice President Yemi Osinbajo on Wednesday approved the 2021-2025 National Development Plan, which…
World Bank Demands Debt Transparency, Says Nigeria, Others Need $429bn
The World Bank has demanded debt transparency as a crucial step in countries’ development process, while it estimates that external…
Aviation Fuel Price Rises By 70%, International Airlines May Raise Fares
The International Air Transport Association has said the price of jet fuel has continued to increase in recent weeks, with…
Naira Gains 3.6% To Trade N540/$1 At Parallel Market
The Nigerian naira has appreciated by 3.6% to N540/$1 at the parallel market — almost four months after the Central…
Senate Approves Buhari’s $16 Billion, €1 Billion Loan Requests
The upper legislative chamber also approved grant components of $125 million. The president had requested the facilities in an addendum…
Rolls Royce Launches New Brand Amid Market Enthusiasm
Rolls-Royce Motor Cars Lagos has announced the debut of the latest brand under its Black Badge model, Ghost, amid enthusiasm…
Billionaire Aliko Dangote’s Net Worth Rises To $19.2bn From $17.8bn In August
Africa’s richest man, Aliko Dangote, has significantly moved up in the Bloomberg Billionaires Index as his fortune increased to $19.2…
Asia Stocks Mixed; Shares Of Chinese Developer Fantasia Plunge In Return To Trade
Shares in Asia-Pacific were mixed on Wednesday as investors reacted to the release of Chinese inflation data for October. Hong…
DoorDash Stock Rockets On Deal To Acquire International Delivery Platform Wolt For $8.1 Billion
DoorDash announced Tuesday it’s acquiring Wolt, a food delivery platform that’s expanded into groceries and retail, in an all-stock transaction valued at…
Tesla Drops 12% For Biggest Fall This Year After Musk Stock Sale Proposal
Tesla stock closed down 11.99% on Tuesday, extending losses for a second day, after CEO Elon Musk over the weekend proposed…
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…
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…
