Pound Spikes As Inflation Surge Ups Pressure On BoE To Hike Rates
The pound rallied on Wednesday morning as official data showed UK inflation continues to soar.
Figures from the…
Analysis: Digital Rivals? Central Bank E-Cash Plans Prompt Lenders To Wade In
As central banks dabble with digital currencies, commercial lenders are ramping up efforts to influence policy and…
Apple, Goldman Plan ‘Buy Now, Pay Later’ Service To Rival Affirm
Apple Inc. is working on a new service that will let consumers pay for any Apple Pay purchase in installments over…
‘UK Generated £1.9bn From Export To Nigeria In 2020’
The British Deputy High Commissioner to Nigeria, Ben Llewellyn-Jones has revealed that British firms operating in…
DMO To Auction N150bn FGN Bonds In July
In a circular issued on Monday, DMO said the bonds will be in three tranches, comprising N50 billion each.
The…
Unstable Sugar Price In Nigeria Caused By Increase In Foreign Exchange –…
The National Sugar Development Council (NSDC) has revealed that sudden change or increase in sugar prices in the…
Nigeria Hires Money Managers For $37 Billion Infrastructure Fund
Nigeria has picked four asset managers to run a $37 billion fund set up to drive investment in roads, railways and…
PBOC Reiterates Monetary Policy Unchanged Despite Surprise RRR Cut
The recent cut in the amount of money banks must keep in reserve doesn’t mean a change in the China’s monetary…
Petrol Subsidy Ends After Buhari Signs PIB – Minister
The assent of the Petroleum Industry Bill by the President, Major General Muhammadu Buhari (retd.), will put an end…
Forex Shortages Force Nigerian Corporates To Turn To Parallel Market
Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to source this resource on the…
ABCON Advocates Reforms To Curb Govt Spending, Public Debt
Association of Bureaux De Change Operators of Nigeria (ABCON) has advocated for reforms that will reduce government…
Dollar Tiptoes Toward Inflation, Powell Testimony
Currency markets were on edge and the dollar a few ticks lower on Tuesday, ahead of U.S. inflation data which…
Stocks Simmer Near Record Highs Ahead Of U.S. Inflation Data
Global shares hung near record highs on Tuesday, buoyed by better than expected Chinese export data as markets…
Exclusive-European Efforts To Assess Russia’s Sputnik V Vaccine Stymied By Data…
The developers of Russia’s Sputnik V coronavirus vaccine have repeatedly failed to provide data that regulators…
U.S. Consumer Prices Post Largest Gain In 13 years; Inflation Has Likely Peaked
U.S. consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in…
U.S. Senate Democrats Agree To $3.5 Trln For Budget Reconciliation Bill
U.S. President Joe Biden's drive for big new infrastructure investment got a boost on Tuesday when leading Senate…
Japan’s Q3 Growth Forecast Cut As New Pandemic Curbs Hit
Japan's economy will grow at a slower pace than initially expected in the third quarter, as fresh coronavirus…
BOJ Aimed To Work With Govt In Regional Bank Scheme, Minutes Show
The Bank of Japan's scheme to incentivise consolidation among regional banks was meant to show it was working…
Musk Defends Timing Of Tesla’s $2.6 Bln Deal For SolarCity
Elon Musk told a judge on Tuesday Tesla Inc (TSLA.O) had to buy SolarCity in 2016 because the failing solar panel…
FCMB Announces Appointment Of Mrs Yemisi Edun As The New Managing Director And…
The Board of Directors of FCMB Group Plc have announced the appointment of Yemisi Edun as the Managing Director of…
Africa’s Single Currency Realisable, Says AfCFTA Scribe
The Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Mr. Wamkele Mene,…
Oil Not Going Away Soon – Nigerian Government
Minister of State Petroleum Resources Mr Timipre Sylva, on Monday, reiterated that crude oil was not going away…
African Currencies Week Ahead: Kenyan, Tanzania Units To Remain Steady,…
KENYA - The Kenyan shilling is expected to remain steady due to subdued demand for dollars amid a slow market,…
Bitcoin ‘Crash’ Risks Taking Its Price Down To $10,000, Minerd Says
There’s no reason for investors to buy Bitcoin at the moment, according to Guggenheim Investments Chairman Scott…
Russian Central Bank Says Inflationary Pressure Remains High, But Is Easing
EMBARGO 1730 GMTInflationary pressure remains high in Russia, the central bank said in a report on Monday, but…
One Of The Priciest Rough Diamonds Ever Fetches $40 Million
Petra Diamonds Ltd. sold a 39.3-carat blue gem for more than $40 million, making it one of the most expensive rough…
EFCC Arraigns Four For N900 Million POS Fraud
The anti-graft agency says the prime suspect connived with some staff members of First Bank to defraud customers…
Dollar Edges Higher Amid Pandemic Concerns, U.S. Inflation In Focus
The dollar edged higher across the board on Monday as concerns about the pandemic encouraged investors to seek a…
Nigeria’s Lagos State Faces “Potential Third Wave” Of COVID-19
He warned of fines or even imprisonment for those who break rules to contain the virus and said Lagos state would…
Nigeria To Become Oil Bunkering Hub In Africa – DPR
The Department of Petroleum Resources (DPR) has said that Nigeria has moved to become the Marine Petroleum Products…