Euro At Parity And Talks Of A 100 Bps U.S. Rate Hike
A look at the day ahead in markets from Dhara Ranasinghe. After staring parity against the dollar in the face for…
Bears Maintain Dominance As Stock Market Valuation Dips By N90 Billion.
The Nigerian Exchange Group closed negative amidst buy-interests and sell-offs as bears dominated proceedings.…
Crypto Lender Celsius Files For Bankruptcy
U.S. crypto lender Celsius Network said it has filed for bankruptcy; becoming the latest victim in the…
Court Grants N10 Million Bail To Forex Trader Charged With N20 Million Exchange…
Justice Oluwatoyin Taiwo of the Ikeja Special Offences Court has granted bail in the sum of N10 million to one…
Building Collapses In Lagos Nigeria.
A building collapsed in the early hours of Wednesday, July 2022 in Onipanu area of Lagos State.
The affected…
Kadmos, a salary payments platform for migrant workers, raises $29.5M
Companies from across the industrial spectrum often rely on a migrant workforce employment. But being away from…
Russia’s Sberbank Executes First Digital Asset Issue On Its Platform.
Russia's dominant lender Sberbank (SBER.MM) said it had carried out the first digital financial asset transaction…
Forex Flow To Nigeria Rise By $10.75bn.
Nigeria has recorded $10.75bn foreign exchange inflow in two months, figures obtained from the Central Bank of…
Zambia Plans To Cancel Over $2 Billion Projects To Rein In Debt.
Zambia is cancelling more than $2 billion worth of projects financed by commercial loans. To reduce the risk of…
Japan’s Machinery Orders Fall For First Time In 3 Months.
Japan's core machinery orders slipped for the first time in three months in May. Hurting hopes that a pickup in…
Danske Cuts Profit Outlook Due To Challenging Financial Market Conditions.
Danske Bank (DANSKE.CO) reduced its full-year net profit outlook, hurt by rapidly rising interest rates and…
Asian Firms May Struggle To Refinance Dollar Debt, Ratio Suggests
Asian companies are likely to find it harder to refinance dollar-denominated debt. The decline in a key metric…
Chinese Property Developer Ronshine Misses Interest Payments On Two Bonds.
Chinese property developer Ronshine China Holdings Ltd (3301.HK) has not made interest payments on its June 2023…
Shell Invests $38 Million In Carbon Credit Projects In Brazil.
Shell (SHEL.L) said it has invested 200 million reais ($38.07 million) into a Brazilian preservation-focused…
Oil Companies Oppose FG- Nigeria.
Oil and gas companies have committed to gas flare reduction in Nigeria. Some of them opposed the enforcement of…
China Industry Body Cuts 2022 Auto Sales Growth Forecast To 3%
China's automobile industry association downgraded its 27022 sales forecast; as anti-pandemic measures weighed on…
Bank Of Korea To Hike Rates By Historic 50 Bps
South Korea's central bank will deliver its first-ever 50 basis point rate rise to 2.25%; turning up the heat on a…
Twitter Hires Law Firm Wachtell To Sue Musk After Pulling Out Of $44 Billion Deal
Twitter Inc has hired U.S. law firm Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk; and…
Brazil’s Itau To Buy 35% Stake In Broker Avenue For $92 Mln, Eyes Control…
Brazil's largest private lender Itau Unibanco Holding SA (ITUB4.SA) has agreed to acquire control of Avenue; a…
Essity Buys 80% Of Canada’s Knix Wear For $313 Million
Sweden's Essity on Friday said it had agreed to buy 80% of Canadian company Knix Wear. A maker of leakproof…
Nigeria’s Capital Importation Loses $6.92bn, As Inflows Dip In Four Consecutive…
For the period of Q1 2022, NBS disclosed that capital importation, which consists of financial and…
CBN Releases Guidelines For Digital Financial Service Awareness
The Central Bank of Nigeria has issued an exposure draft for the digital financial services awareness…
Euro At The Verge Of Breaching Parity, Stocks Slide Again
The euro has been particularly vulnerable given the impact of an ongoing spike in natural gas prices on the…
Infrastructure: FG Eyes 70% Capital Stock, $150Bn Annually
The Federal Government is targeting 70 per cent capital stock and $150bn yearly to close Nigeria’s yawning…
External Reserves Gain $679.12M In One Month
NIGERIA’S external reserves returned to a growth path after gaining $679.12m. However, Figures obtained from the…
NatWest Hands Staff Pay Rise To Ease Impact Of Soaring Inflation
British bank NatWest has joined rivals in handing out an unscheduled pay boost; to staff to help shield them from…
Half Of Britons Buy Less Food As Prices Surge
Almost half of British people have cut back on food purchases as prices surge; while others are having to spend…
Nigerian Banks Loan N3 Trillion To The Private Sector In 6 Months
Banks’ credit to the private sector hit its highest level in May 2022, reaching N38.19 trillion from N35.19…
DeFi Ecosystem Lost $156 Billion In Total Value Locked In Q2 2022
Currently, the cryptocurrency space has lost a great deal; especially with Bitcoin posting its worst quarterly…
Airtel Reduces Debt To Parent Company By $450 Million
Airtel Africa announced that it has redeemed up to $450 million out of the $1 billion loan it owes to its…