CBN FX Policies Discouraging Foreign Investors—Muda Yusuf
The immediate past director-general (DG) of the Lagos Chamber of Commerce Industry (LCCI), Mr Muda Yusuf, has blamed the Central…
Category: Market
ABCON Keeps Mum On CBN’s Sanction
Alhaji Aminu Gwadabe, the President of the Association of Bureaux de Change Operators of Nigeria (ABCON), has refused to comment…
External Reserves Gain $280m In Two Weeks
The country’s external reserves have returned to a growth path with a gain of $280m in two weeks, the latest…
Apapa, Tin Can Ports Independent Marketers Send SOS Over Customs’ Activities
Independent marketers at the Apapa and Tin Can Island seaports in Lagos have sent a distress call to the Federal…
Canada GDP: Economy Shrank In May But Picked Up In June With Reopening
Statistics Canada says real gross domestic product (GDP) contracted 0.3 per cent in May during lockdowns, after a 0.5 per cent…
Russia’s Oil, Condensate Output Rises Amid Higher OPEC+ Quotas
Russia increased oil production in July for the first time in three months, after more generous quotas were extended to…
The Restriction Of Forex To BDC Operators
In a major policy shift, the Central Bank of Nigeria (CBN) last week halted the sale of foreign exchange (forex)…
NNPC Continues FAAC Deductions, To Withhold N174.4bn In August
The Nigerian National Petroleum Corporation (NNPC) is continuing its regime of deduction from the federation account as it set to…
Foreign Investors Exit Takes Toll As Stock Market Decline By N973.2bn In Seven Months
Profit-taking on price appreciation of stocks recorded last year and foreign investors exit Impacted the Nigerian equities market negatively in…
Airtel Money Secures New investment From Qatar’s Sovereign Wealth Fund
Airtel Africa Plc has announced that it has secured a $200m investment for its mobile money arm from Qatar Holding…
FUGAZ Stocks Investors Lose N50.45 Billion During The Week
The market capitalization of the top five banks, referred to as the Tier-1 banks decreased to N2.46 trillion at the…
Seven African Exchanges Inch Towards Shared Trading
Cross-border trading is set for a lift as the African Securities Exchanges Association (ASEA) has signed a contract to roll…
Asian Shares Try To Stabilise, China Growth A Worry
Asian shares were seeking a modicum of stability on Monday as a run of stellar U.S. corporate earnings put a…
France’s Axa Rebounds From Pandemic With A 180% Spike In Net Income
French insurer Axa posted on Monday a 180% surge in net income in the first half as the company rebounded…
AON’S Looking At Up To $1.4 Bln In Costs Over Scrapped Willis Deal
Insurance broker Aon Plc (AON.N) said on Friday it could have to expend up to $400 million in additional costs tied to…
HSBC Profit More Than Doubles As Economies Rebound, Loan-Loss Fears Ebb
HSBC Holdings (HSBA.L) on Monday reported forecast-beating first-half pretax profit that more than doubled from a weak performance last year when it…
Federal Government Of Nigeria Cuts Gas-To-Power Price To $2.18/Mmbtu
The Federal Government, on Thursday said it has reviewed downward the price of gas-to-power from $2.50/mmbtu to $2.18/mmbtu for domestic supply…
NGX Key Indicators Drop Further By 0.79% On Profit-Taking
Trading at the nation’s bourse extended a losing streak on Thursday, with key market indicators nosediving by 0.79 per cent…
Investors Bought Chinese Stocks In The Last Week, Despite Regulatory Concerns
Investors bought into Chinese stocks in the last week, despite mounting concerns about harsh regulation, according to fund research firm…
Amazon Sales Growth Slows In Tame Start To Jassy’s Tenure As CEO
Amazon.com Inc (AMZN.O) on Thursday said sales growth would slow in the next few quarters as customers venture more outside the home,…
Robinhood Closes At $34.82 In Grim Stock Market Debut
Robinhood Markets Inc’s shares (HOOD.O) closed more than 8% lower at $34.82 per share on their first day of trading, as many…
Nigeria To Refund Deposits To Exchange Bureaux Applicants After FX Sale Ban
Nigeria’s central bank will refund exchange bureaux that have paid deposits and licence fees which have yet to be approved,…
Central Bank Chief Says Canadians Should Not ‘Overreact’ To Temporary Inflation
Bank of Canada Governor Tiff Macklem, writing in a column for the Financial Post newspaper on Thursday, said Canadians can…
Canadian Dollar Hits 2-Week High As Fed Stance Bolsters Sentiment
The Canadian dollar touched a two-week high against its broadly weaker U.S. counterpart on Thursday, as the Federal Reserve remained…
NYSE-Owner ICE’s Second-Quarter Profit More Than Doubles
Intercontinental Exchange Inc (ICE.N), the owner of the New York Stock Exchange, on Thursday reported that its second-quarter profit more than…
Analysis: As Fed Tiptoes Around Tapering, Investors Look To Jackson Hole Meeting For Clarity
Investors looking for clear guidelines on when the Federal Reserve will begin tapering its massive bond purchases were left waiting…
S&P 500, Dow Set To Rise As Economic Growth Heats Up
The S&P 500 and the Dow indexes were set to rise on Thursday as a slate of strong corporate earnings…
Mastercard Profit Beats Estimates On Overall Spending Boost
Mastercard Inc (MA.N) reported a 36% rise in second-quarter profit on Thursday that comfortably beat estimates, underpinned by a recovery in global…
Canadian Pipeline Operator TC Energy To Switch To Green Power To Run North American Energy Pipelines
Canadian pipeline operator TC Energy Corp (TRP.TO) could spend billions of dollars on its plans to lower emissions by…