Robinhood Shares Tumble After PayPal News, SEC Scrutiny Of Key Revenue Stream
Shares of Robinhood Markets Inc (HOOD.O), a popular gateway for trading meme stocks, tumbled nearly 7% on Monday on news that…
Category: Market
Dollar Scarcity Drives Naira Further Down At Black Market
Naira weakened significantly against the U.S. dollar at the black market on Monday, as it touched an all-time low of 527.…
Nigeria: CBN States Transfer Limits As E-Naira Begins Oct 1
The Central Bank of Nigeria has announced the formal engagement of the global Fintech Company, Bitt Inc., as the Technical…
CBN Selects Bitt Inc Digital Currency As Technical Partner For Digital Currency Project
The Central Bank of Nigeria (CBN) has engaged Bitt Inc., a global Fintech company, as the Technical Partner for its…
Foreign Portfolio Investments Drop On Forex Crisis
Foreign portfolio investments (FPIs) in Nigeria have dropped to their lowest level in more than eight years as foreign exchange…
Banks To Promote Adoption Of ENaira As CBN Mulls October 1 Pilot
Nigerian deposit money banks (DMBs) are set to market and promote the adoption of eNaira as a digital version of…
Slumping Asian Currencies Face More Risk From Slowdown In China
Hong Kong’s shopping districts are dotted with money changers advertising their remittance services and conversion rates. There are 1,891 licensed money operators in the city, Hong Kong customs data show.
Emirates Extends Suspension Of Flights From Nigeria Till September 5
Emirates Airlines has extended the suspension of flights from Lagos State and Abuja airports to Dubai till September 5, 2021.…
Dangote’s $2bn Petrochemical Plant To Produce 77 Grades Of Polypropylene
Dangote’s $2 billion Petrochemical Plant located in Ibeju-Lekki, Lagos State, is designed to produce 77 different high-performance grades of polypropylene…
European Markets Trade Higher, Reflecting Buoyant Global Sentiment
European stocks were trading slightly higher on Monday, reflecting broadly positive trade in global markets overnight. The pan-European Stoxx 600…
Australian Miner Fortescue’s Shares Soar After Reporting Record Profit
Shares of Australian miner Fortescue soared over 6% on Monday, as the mining giant reported full-year profits that hit another record…
Atedo Peterside Doubts Nigeria’s NNPC N287bn Profit, Challenges Corporation
Founder of IBTC Stanbic Bank, Atedo Peterside, has challenged the Nigerian National Petroleum Corporation to clarify allegations that it dipped…
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…
Turnover In FMDQ Exchange Drops 56% YoY As Investors Pull N29trn In T-Bills
Investment activities in the Fixed Income and Currencies (FIC) markets suffered a setback to the tune of about N26.97 trillion…
New IMF Allocation’ll Boost Nigeria, Others’ Reserves – AfDB
The President of the African Development Bank, Akinwumi Adesina, has said the International Monetary Fund’s Special Drawing Rights allocation of…
Why Fed’s Powell Still Thinks High Inflation Is ‘Temporary’
Federal Reserve Chair Jerome Powell on Friday pushed back against concerns that swiftly rising prices could become an enduring feature…
CBN Drafts Guidelines To Nigerian Banks On E-Naira
The CBN recently sent a presentation to Nigerian banks about the eNaira project, revealing more details about its design and…
Diaspora Remittances Hit $34bn As Nigerian Migrant Workers Top List
The Naira4Dollar policy of the Central Bank of Nigeria (CBN) may have begun to yield dividends as remittances from Nigerians…
Zero-Commission Fight Reaches Canada As National Bank Ends Fees
The move to commission-free trading that’s swept through U.S. discount brokerages over the past two years may finally be making…
FG Yet To Recover N5.15tn Debt, Says Minister
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, indicated on Friday that the Federal Government had not…
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…
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…