Fragile Nigerian GDP Recovery Means Interest Rate Could Stay Put
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Nigeria’s central bank will…
CEE MARKETS-Crown Firms, Other FX Up As Weak Dollar Stays Weak
Central European currencies edged up on Monday, with the Czech crown testing a fresh14-month-and-a-half high against the euro, lifted by…
Pound Pinned Near $1.42, Address By BoE Quartet Awaited
Britain’s pound held in a tight range on Monday, trading just shy of $1.42 as analysts set their eyes on…
Dollar Stuck Near 3-Month Lows, Bitcoin Struggles
The dollar was pinned near three-month lows against a basket of major currencies on Monday, as bets on a robust…
Econet Founder Strive Masiyiwa Becomes Britain’s First Black Billionaire
Econet founder, Strive Masiyiwa, has been named Britain’s first black billionaire. Masiyiwa, who is based in London, is the only…
Foreign Reserves Down $790m
Nigeria’s foreign exchange reserves have depreciated by $790 million despite the rise in crude oil prices. The foreign reserves stood…
Currency Dealers Warn Against Forex Speculation
The Association of Bureau De Change Operators of Nigeria (ABCON) has attributed the pressure facing the naira at the parallel…
Crypto Recovery Stalls As Miners Eye Exits
Cryptocurrencies fought to find a footing on Monday after even weekend cheerleading from Tesla boss Elon Musk seemed unable offset…
FX Speculators Walk A Tightrope
Currency speculators, who have in the past week engaged in an aggressive ‘stocking’ of the dollar at a premium in…
Stocks, Bonds, Naira Head South
THERE are indications that last week witnessed bearish sentiments in the trio of stock, fixed income and money markets as…
Banks USSD Debts To Telcos Hit N47 Billion
The total debts owed by banks to telecommunications service providers arising from the use of Unstructured Supplementary Service Data (USSD)…
52 Million Crude Oil Barrels Lost To OPEC Cuts – NNPC
Abuja — Nigeria lost at least 52 million barrels of crude oil between May and December 2020 to COVID-19-induced compulsory…
Nigeria’s First Deep Seaport Reaches 51% Completion
Nigeria’s first deep seaport project, the Lekki Deep Sea Port, promoted by Lekki Port LFTZ Enterprise Limited, (LPLEL), will upon…
New Finnish Finance Minister Promises Continuity When She Takes Office Next Week
Annika Saarikko, the leader of Finland’s Centre Party who will take over as finance minister next week, said on Saturday…
C.Banks In Ghana, Kenya And Nigeria To Keep Rates Steady Next Week
Central banks in Ghana and Kenya will keep interest rates on hold next week to check quickening inflation while foreign…
U.K.’S Patel To Unveil Post-Brexit Overhaul Of Immigration
U.K. Home Secretary Priti Patel is set to announce a “wholesale” reform of the nation’s immigration system in the wake…
Nigeria Economic Growth Picks Up As Oil And Factory Output Rise
Nigeria’s economic growth quickened in the first quarter as oil output started to recover and manufacturing production increased for the…
Bitcoin Resumes Selloff Over Weekend, Falls Below $32,000
The bitcoin selloff continued Sunday following a roller-coaster week of trading, as authorities in China and the U.S. move to tighten regulation…
NNPC Reverses Full Deregulation, Remits Zero Revenue At April FAAC
Nigerians may heave a sigh of relief, as the impact of full deregulation of petroleum products in the country by the Nigerian…
Consolidation In FX May Be Welcome Given The Volatility Elsewhere
The reluctance of the Federal Reserve officials to signal a recalibration of policy given the booming economy, rising inflation and…
PBOC Says It Will Maintain Exchange Rate ‘Basically Stable
China’s central bank said it will maintain the exchange rate of the yuan at “basically stable” levels after recent comments…
Nigerians Kick Against NCC Plan For Phone ID Warehouse
Nigerians have in their numbers voiced opposition against the Nigerian Communications Commission’s plan to obtain the International Mobile Equipment Identity…
NBS’ Q1 Results: Rewane, Others Differ On Economic Growth
As the headline inflation for April drops by 0.5 per cent to 18.12 per cent in April, Managing Director of…
White House Makes $1.7 Trillion Infrastructure Counteroffer — But Republicans Say Sides Now Seem Further Apart
WASHINGTON — White House aides working on a bipartisan infrastructure deal made a counteroffer on Friday to Republican senators, reducing…
Stocks could be volatile in week ahead amid turbulence from cryptocurrency
The trading pattern of the past two weeks – particularly alongside cryptocurrency’s movements – suggests stocks could continue to be…
Forex Speculators To Lose N100bn As CBN Sustains Funding For BDCs
Foreign exchange speculators will lose over N100 billion in the next month as the Central Bank of Nigeria (CBN) sustains…
Wealth Fund That Quadrupled Profits Now Pivots With Bet On Europe
One of Africa’s largest sovereign wealth funds rode the wave of U.S. technology stocks to a banner 2020. Now, it’s…
Nigeria Governors Call For Full Deregulation Of Fuel Prices
Nigeria’s governors have called for a full deregulation of the country’s downstream oil sector so that pump price floats with…
African Financing Faces Mounting Challenges
International banks are increasingly reluctant to commit to African projects, although domestic banks are growing with an eye on filling…
Naira Sells For N411.31/$1 At I&E As Cryptos Recover
Despite a drop in the demand for FX at the Investors and Exporters (I&E) window of the foreign exchange market on Thursday,…