CBN Policy Measures In Response To COVID-19 Outbreak And Spillovers
March 16, 2020
The Corona Virus (COVID 19) pandemic is having significant adverse consequences for both the…
CBN asks banks to restructure loan terms, cuts special interest rate to 5%
The Central Bank of Nigeria (CBN) has directed all deposit money banks in the country to restructure loan terms and…
Stocks market sees choppy gains in early trading on NSE
Barely one hour into stock trading session on Monday March 16, investors were seen snapping value stocks that are…
Zenith Bank limits int’l withdrawal amount on card
Zenith Bank has limited the monthly international withdrawal limit on its Naira cards to $1,000 per month,…
Luxury perfume makers Dior and Givenchy will produce free hand sanitizer for…
LVMH said it will use all the production facilities of its perfumes and cosmetics brands to produce large…
Dollar sells at N380 as CBN holds press conference
The foreign exchange market resumed on Monday, 16th March, with dollar selling at N380/$ in some area of Lagos.…
Ferrari suspends production over Covid-19
The Italian government ordered a nationwide lockdown last week. But supply chain problems have emerged to the…
Lagos explosion: Sanwo-Olu sets up investigative panel, N2bn relief fund
Sanwo-Olu, who visited the scene on Monday morning, also announced a N2 billion relief fund to cushion the effect…
Oil crash: Nigeria may lose $8.63bn in six months
Nigeria’s economy may slide into another recession as the sudden crash in crude oil prices is set to wipe $8.63bn…
Global central banks pull out all stops as coronavirus paralyzes economies
The coordinated response from the Fed to the European Central Bank (ECB) and the Bank of Japan (BOJ) came amid a…
Gold Climbs After Fed Cuts Interest Rates as Virus Spreads
Gold jumped in early Asian trading after the Federal Reserve cut its benchmark interest rate by a full percentage…
Ghana Closes Borders for Arrivals From Coronavirus-Hit Countries
Ghana is closing its borders to travelers from countries with more than 200 cases of the coronavirus as the West…
US Federal Reserve cuts rates to zero to support economy during coronavirus…
In a bold, emergency action to support the economy during the coronavirus pandemic, the Federal Reserve on Sunday…
The Audacity of the British Treasury… UK Property Market
Yesterday, the United Kingdom’s Chancellor, Rishi Sunak, whilst delivering the government’s budget plans announced…
Apple temporarily shuts stores outside Greater China
Apple will close all stores outside of Greater China until March 27 to help stop the spread of coronavirus, Apple…
Confusion as explosion rocks Lagos
A massive explosion which rocked Lagos on Sunday morning has led to the destruction of houses in different parts of…
Reports suggest Zenith Bank given green light to acquire Union Bank
Zenith Bank Plc has reportedly been given the green light to merge or acquire Union Bank Nigeria Plc.
Bitcoin has lost 30% of its value this week
The price of one bitcoin (XBT) fell 3% in early morning trading to about $5,600 before recovering a bit. At one…
Market unfavourable for Naira devaluation – CBN
The Central Bank of Nigeria (CBN) says market fundamentals do not support Naira devaluation this time around.…
Johannesburg Stocks Fall Most Since 1997 in ‘Panic’ Sell-Off
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Global Airlines Face the Worst Demand Decline on Record
Globalization has been a boon for the airline industry, which has flourished as nations opened up to one another…
Airlines slash flights to cut costs as coronavirus hits travel demand
The crisis engulfing the airline industry deepened on Tuesday as carriers cancelled flights, withdrew earnings…
Dow tanks 2,300 in worst day since Black Monday, S&P 500 bear market
It was a historic day on Wall Street. The Dow plunged 10% for its worst day since Black Monday in 1987. The…
Oil price collapse sours $310-million deal for failed shale producer
A court-ordered sale of one-time shale high-flyer Alta Mesa Resources Inc fell through due to a lack of financing…
Nigerian shoemakers tap national pride, nostalgia to spur local industry
Two men in grey jumpsuits brush glue onto rubber soles, while factory machines whir in the background. Elsewhere,…
Trump suspends travel from Europe – except the United Kingdom
President Donald Trump announced on Wednesday that all travel from Europe, except for the United Kingdom, will be…
Global stocks plunge after Trump announces coronavirus response package
US stock futures and markets around the world slid late Wednesday night as concerns about the economic fallout from…
One standout number in Amazon’s financial report showcases a positive shift…
Amazon Web Services has been focused on signing up more large business customers in recent years, as it continues…
US stocks surged into the close to end a volatile session on Tuesday.
Sharp mid-day fluctuations came as investors weighed the possible timing of a government stimulus package…
Oil Drop May Force Nigeria to Devalue Naira as Reserves Sink
The plunge in oil prices is piling pressure on Nigeria to devalue the naira as dwindling export revenue depletes…