South African Rand Weakens Against Strong Dollar.
South Africa's rand was weaker in early trade on Monday, as the dollar hit a new five-week high after more Federal…
Gas Crisis Sends Euro Back Below Parity Against Dollar.
The euro briefly fell back below parity against a robust dollar on Monday and was languishing at five-week lows;…
Apple Expands Self-Repair Support To MacBooks.
Apple Inc (AAPL. O) said it would offer customers tools and know-how to repair and service their MacBook…
China To Forgive 23 Interest-Free Loans To 17 African Countries.
China has stated that it will forgive 23 interest-free loans to 17 African countries; and will also provide food…
Uganda To Refund Kenya 60mw Of Electricity Supplied.
Uganda will pay back Kenya in kind the electricity that Kenya Power supplied; following power disruption in one of…
Toyota Sells Stake In Kenya IT Firm After Row With State.
A unit of Japanese multinational Toyota has sold its stake in Kenyan information technology firm Seven Seas…
Food Prices Rose In July 2022 – NBS.
The National Bureau of Statistics says prices of selected food items increased in July. It made the declaration in…
Anxiety In Banks As Loans To Power Sector Hit Over N800bn.
There appears to be no end sight to the woes of the power sector with economic experts expressing concerns over a…
Aggregate FX Inflow Down 17.3% to $6.58bn On Decrease In Non-Oil Components.
The aggregate foreign exchange inflow into the Nigerian economy dropped by 17.3% to $6.58 billion in April 2022;…
$20 Billion Indian Investments In Nigeria – Foreign Minister.
Indian Minister of State for External Affairs Shri Vellamvelly Muraleedharan has disclosed that Indian investments…
Nigerian Stock Market Starts The Week Shedding N14 billion.
The Nigerian stock market started the first trading session of the week bearish, shedding approximately N14…
Saudi Says Oil Price Plunge Ignores Extremely Tight Global Crude Supply.
OPEC’s leading oil producer, Saudi Arabia, says the recent oil price decline is by poor futures market liquidity;…
HSBC Ups Price Targets On Greek Banks, With Eurobank, Piraeus Top Picks.
HSBC raised its price targets on shares of Greece's four largest lenders after they posted strong performances in…
OPEC+ Missed Output Targets By 2.9 Million Barrels Per Day In July.
OPEC+ produced 2.892 million barrels per day (bpd) below their targets in July, two sources from the producer…
BoG Rolls Out Urgent Measures To Fight Inflation, Cedi Depreciation.
The Bank of Ghana (BOG) has raised the policy rate by 300 basis points (bp) to 22% in a historic move; meant to…
FTX Reportedly Grew Its Revenue By Over 1,000% In 2021.
FTX, one of the largest cryptocurrency exchanges by transaction volume, has seen its revenue grow by 1,046% in…
Nigeria FG Records N643.09bn Fiscal Deficit In One Month.
The Federal Government’s fiscal deficit rose from N491.28bn in March to N643.09bn in April, according to the…
Oil Snaps 3-day Winning Streak On Strong Dollar, China’s Sluggish Demand.
After three days of gains, oil prices dropped considerably due to concerns that aggressive interest rate…
5G: New Operator Won’t Launch In August.
Mafab Communications Limited is set to miss the Nigerian Communications Commission 5G rollout commencement date of…
Why Nigeria Exports Electricity To Niger, Benin, Togo — TCN.
As Nigerians continued to worry about the continued exportation of electricity to neghbouring countries amid…
Ethereum Drops Below $1,600, Posts Weekly Loss Of Over 20%.
The majority of popular digital assets declined during the course of the week, and by the weekend, market leaders;…
Bitcoin Up From Mid-August Lows Amid Growing Economic Uncertainty.
As investors continued to mull over the most recent inflation figures and lingering macroeconomic uncertainties;…
Undisbursed Loans Raise Nigeria’s World Bank Debt To $21.15bn.
Undisbursed loans may drive Nigeria’s debt to the World Bank from $12.72bn to $21.15bn, the PUNCH has learnt.
…
Nigeria FG Concludes Takeover Of Four DisCos.
The Federal Government has completed the takeover of four electricity distribution companies; and constituted the…
Power Production Was Reduced By Striking Workers To 43 MW-FG.
The recent one-day strike by workers of the Transmission Company of Nigeria crashed Nigeria’s power generation…
FG To End Petrol Subsidy In June 2023.
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to…
Vodafone To Sell Hungarian Business For $1.8 Billion.
Britain's Vodafone (VOD.L) will sell its Hungarian business for 715 billion forints ($1.8 billion) in…
ENaira Records 200,000 Users, N4bn Transactions Value – Emefiele
The Central Bank of Nigeria (CBN), digital currency, eNaira has recorded 200,000 volumes; and four billion Naira…
FG Spends N18.397bn On Petrol Subsidy Daily –Minister
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to…
Bitcoin Drops For Fourth Straight Day On US Fed’s Hawkish Stance.
Bitcoin and many crypto assets fell for a fourth straight day as investors continued to be perplexed by recently…