Nigeria’s inflation to ease in Q2 ’24, say analysts at Cowry Asset
Post AMUGE
April 23, 2024
ONOME AMUGE & JOY AGWUNOBI IN LAGOS, NIGERIA The first quarter of 2024 will be remembered as a turbulent period in Nigeria’s economic history, as the nation endured the wrath of inflationary turmoil. The headline inflation rate soared to 33.20 percent in March 2024, reaching its highest level since March 1996, a grim milestone that […]
CBN tells HoR Remita got e-collection on merit
Post AMUGEMarch 29, 2024
Justifies Remita’s role in improving payment efficiency for MDAs The Central Bank of Nigeria (CBN) has clarified its decision to select Remita, a leading Nigerian fintech company, as the platform for electronic payments from Ministries, Departments, and Agencies (MDAs), to beneficiary accounts across commercial banks, noting that it was based on merit, following queries regarding […]
AMCON reduces operational loss by 90%, unveils bullish outlook on recovery
Businessam StaffJune 4, 2018
The Asset Management Corporation of Nigeria (AMCON), the public institution set up to buy bad debts from banks, said losses for the full year ended December 2017 narrowed to N16.4 billion from N164.9 billion in 2016 on improving macroeconomic conditions in the country as the economy rebounded from its worst contraction in more than two […]
DMO sees N1.25trn local debt raising achievable in 2017
Kelvin EgerueJune 23, 2017
With N850 billion gross collection from its 2017 bond issuance, Nigeria’s Debt Management Office (DMO) now sees its N1.25 trillion projection for the domestic financing of the 2017 budget as within reach. Although Wednesday’s reaping of N99 billion, about $320 million, from its bond issuance was a margin below its projection of N140 billion, the […]
U.S. home prices rose 6% in 1st qtr as supply tightened
Businessam StaffMay 24, 2017
Home prices in the U.S. increased 6 percent in the first quarter from a year earlier as competition heated up for a scarcity of listings. Prices rose 1.4 percent on a seasonally adjusted basis from the previous three months, the Federal Housing Finance Agency said in a statement Wednesday. In March, prices climbed 0.6 percent […]
Hong Kong car park sells for record $3 bln (Video)
Businessam StaffMay 23, 2017
A prized commercial property site in Hong Kong, currently being used as a public car park, has been sold to Henderson Land Development for a record HK$23.3 billion ($3 billion). As Sonia Legg reports, it outbid eight other developers including local giants Cheung Kong Property Holdings and Sun Hung Kai Properties to take ownership of […]
Spain calls for deeper euro zone integration, pooled debt
Businessam StaffMay 17, 2017
Spain’s conservative government has added its voice to calls for deeper integration in the euro zone, suggesting to Brussels in a paper that members of the bloc should pool some aspects of their debt management and share a budget to fight crisis shocks. German Chancellor Angela Merkel and France’s new President Emmanuel Macron agreed on […]