Yen Libor Death Knell Sounds As Traders Close In On Replacement
The hunt for a benchmark to replace yen Libor is gaining ground, with Japan’s traders leaning toward the Tokyo Overnight…
Category: Market
Zainab Ahmed: Nigeria Imported 400,000 Vehicles In 5 Years
Ahmed said this during a sensitisation programme on the national vehicle registry (VREG) platform in Kano on Tuesday. She said…
Cargo Haulage Cost Falls By 70% In 1 Month Over Low Import
The cost of cargo haulage from the Lagos ports has dropped by about 70 percent in the last one months,…
CBN Sets N1m As Application Fee For Payment Service Holding Company Licence
Musa Jimoh, CBN’s director of payments system management department, announced this in a circular on Tuesday. The guideline requires companies…
BDC’s Damage To Nigeria’s Economy Colossal – Finance Expert
International finance expert and CEO, FB Services Group, Canada Dr. Akin Oladeji John Brown has decried what he described as…
Wall Street Set To Pull Back After S&P Hits Record High
Wall Street’s main indexes were set to open lower on Wednesday following a record close for the S&P 500, while…
Factbox: China’s Key Commodities Targeted By Beijing’s Recent Measures
As a key producer, importer and consumer of most of the world’s major commodities, China is uniquely sensitive to sharp…
Tyson Foods, Microsoft Mandate Vaccinations, U.S. Automakers Mask Up
Tyson Foods Inc (TSN.N), Microsoft Corp (MSFT.O) and Detroit’s Big Three automakers joined a growing list of U.S. companies that are changing their…
Toyota, Honda Beat Profit Estimates But Warn Of Extended Chip Crunch
Toyota Motor Corp (7203.T) posted record quarterly earnings and Honda Motor Co (7267.T) raised its annual profit forecast on Wednesday as post-lockdown sales surge,…
Janet Yellen, United State Treasury secretary Says Enacting Biden’s Agenda Key To Keeping America As ‘World’s Pre-Eminent Economic Power’
Treasury Secretary Janet Yellen will warn Wednesday that enacting President Joe Biden’s economic agenda is critical to maintaining America’s status as the…
Indian Shares Hit Record Highs As Investors Focus On Earnings And Interest Rate Decision
Indian shares hit a record high on Wednesday as investors remained upbeat in the middle of corporate earnings season and…
After $75b Investments In 20 Years, Telecoms Service Still Struggling
Twenty years after the Nigerian Communications Commission (NCC) licensed the first two Mobile Network Operators (MNOs) that birthed the revolution…
Kiwi Dollar, Aussie Jump On Central Bank Talk
The New Zealand and Australian dollar were the biggest gainers among major currencies on Tuesday, helped by talk from their…
Oil Falls A Second Day With Delta’s Spread Threatening Demand
Oil fell for a second day as the spread of the delta coronavirus variant, including in the key market of…
UK Inflation Forecast To Hit 3.9% In Early 2022
UK consumer price inflation has been forecast to hit 3.9% next year, a think tank said on Monday. The National…
SolarEdge Shares Surge After Quarterly Earnings Top Estimates
Shares of SolarEdge jumped nearly 12% during premarket trading on Tuesday after the company topped expectations during the second quarter…
Stock Investors Reap N30bn As 18 Firms Gain
Equities listed on the Nigerian Exchange Limited gained N30.03bn at the end of trading on Monday, even as the number…
Anxiety Over Earnings Pushes Indices Up By N327 Billion In July
Anticipation of improved half-year (H1) earnings and accompanied dividend declarations triggered bargain-hunting on the equities sector of the Nigerian Exchange…
Crypto Sector Sees Outflows For 4th Week In A Row, CoinShares Data Shows
Cryptocurrency investment products and funds posted outflows for a fourth consecutive week, the bulk of which came from bitcoin products,…
SSE Makes $1.7 Bln Scotia Gas Exit In Low-Carbon Push
Britain’s SSE (SSE.L) on Monday agreed to sell its entire 33.3% stake in Scotia Gas Networks (SGN) for 1.225 billion pounds ($1.70…
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…
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…