Oil Heads For Biggest Weekly Gains In Over A Year Ahead Of Storm Ida
Oil prices rose more than 2% on Friday and were on track for their biggest weekly gains in over a…
Category: Market
France Ready To Market Nigeria Back Home-Ambassador
The France Ambassador to Nigeria, Jerome Pasquire, has said his country is fully committed to not only supporting the Nigeria…
Dollar, Euro, Sterling Await Powell’s Jackson Hole Speech
The dollar, euro and sterling steadied on Friday as investors waited for a highly anticipated speech by Federal Reserve Chair…
Oil Sector’s Contribution To Nigeria’s GDP In Q2 2021 Wanes
On Thursday, the National Bureau of Statistics (NBS) said Nigeria’s Gross Domestic Product (GDP) grew by 5.01 per cent in…
PIA To Strengthen Naira, Reduce Budget Deficit-PwC
PwC Nigeria said the 2021 Petroleum Industry Act (PIA) will facilitate Nigeria’s economic development by attracting and creating investment opportunities…
NNPC Declares N287bn After Tax Profit In 2020 – Buhari
President Muhammadu Buhari on Thursday disclosed that the Nigerian National Petroleum Corporation (NNPC), for the first time in its 44…
Pound Hits Over 1-Week High As Powell Comments Knock Dollar
Britain’s pound jumped half a percent to the dollar to more than a week’s high on Friday and was set…
Keeping Monetary Policy Loose Can Help Labor Reallocation -Paper
Global central banks could do well to keep interest rates low for as long as possible in order to provide…
Wall Street Rises As Powell Gives No Signal On Taper
Wall Street’s main indexes extended gains on Friday as Federal Reserve Chair Jerome Powell signaled the U.S. central bank will…
Fed is Stoking Another Real Estate Price Bubble That Will Wipe Out Home Equity, Investor Peter Boockvar Warns
Investor Peter Boockvar is sounding the alarm on a housing price bubble brought on by the Federal Reserve’s Covid pandemic…
Nigeria:Stock Market Rebounds As Capitalisation Rises By N15 Billion
As price gains outweighed losses, transactions on the equities sector of the Nigerian Exchange Limited (NGX) closed in an upbeat…
China’s Regulatory Crackdowns Are Already Hurting The Economy
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. China’s campaign to clamp down on industries ranging…
World Remit Raises $292m, Rebrands As Zepz
Digital Money Transfer firm, World Remit, now Zeps has has announced that it raised $292 million in new primary Series…
Oil Steadies After Three-Day Rally With U.S. Stockpiles Falling
Oil steadied after the biggest three-day gain since March with falling U.S. crude and fuel stockpiles adding some positive signs…
NNPC Pegs 2022 Base Oil Price At $57/Barrel
The Nigerian National Petroleum Corporation on Wednesday provided a base crude oil price scenario in the medium term, stating that…
Nigeria’s Real GDP Grew By 5.01% YoY In Q2 2021 From 0.51% In Q1 2021
Nigeria’s Gross Domestic Product (GDP) grew by 5.01%(year-on-year) in real terms in the second quarter of 2021, marking three consecutive…
Nigeria: Importation Of Petroleum Products Will Soon Be Over
Nigerian National Petroleum Corporation (NNPC), yesterday, assured Nigerians that the importation of petroleum products into the country would soon be…
European Stocks Set To Retreat As Global Markets Subdued Ahead Of Fed Symposium
European shares are set to pull back Thursday, with global markets striking a cautious tone as U.S. Federal Reserve policymakers…
China’s After-School Crackdown Wipes Out Many Jobs Overnight
For hundreds of thousands of Chinese people, Beijing’s crackdown on after-school tutoring this summer means their well-paying jobs are disappearing…
South Korea Hikes Interest Rates, The First Developed Economy To Do So In Pandemic Erah Korea hikes interest rates, the first developed economy to do so in pandemic era
South Korea’s central bank raised interest rates on Thursday in a decision that was expected as financial risks heat up despite the…
S&P 500, Nasdaq Notch All-Time Closing Highs Ahead Of Jackson Hole
Wall Street gained ground again on Wednesday, with chipmakers and financials helping to push the S&P 500 and the Nasdaq…
South Africa Rebases GDP, Revises Economic Growth Figures
South Africa has rebased its gross domestic product (GDP) survey, with the new data showing the economy was 11% bigger…
FX: Customers To Return Unutilized PTA/BTA Within 2 Weeks
Customers who approached commercial banks for the purchase of foreign exchange (FX) at cheaper rates especially for personal travel allowance/business…
Gold Eases On Steady Dollar, Focus On Jackson Hole
Gold retreated below $1,800 on Wednesday as the dollar halted its slide while investors sought cues on the timeline of…
Turkish Lira Rises In Muted FX Trade As Focus Turns To Jackson Hole
The Turkish lira rose on Wednesday while other emerging market currencies were muted as investors turned to an annual U.S.…
Ghana’s Currency Heads For Weakest-Ever Close Vs Dollar
The biggest injection of dollars yet by Ghana’s central bank failed to stem the cedi’s slide on Wednesday amid a…
Oil Steadies Near $71 After Two-Day Rally
Oil prices steadied near $71 a barrel, taking a breather after a strong rally in recent days as Mexico was…
Sterling Steady, Currency Markets Lack Momentum Ahead Of Jackson Hole
Sterling was little changed on Wednesday, lacking direction as investors waited for the Federal Reserve’s annual economic symposium on Friday…
Dollar Perks Up To Trade Above One-Week Low On Delta Variant Fears
The safe-haven dollar gained on Wednesday to trade above a one-week low versus major peers amid concerns that the highly…
Global Corporate Profits To Fall 8% In Q3 After Record Q2 – Data
Global corporate profits in the third quarter are likely to fall for the first time in 18 months after record…