Turkey’s lira takes another dive as central bank scares investors over interest rate plans
Businessam Staff
April 25, 2019
Turkey’s troubled lira fell to its lowest level since October on Thursday after its central bank scrapped a pledge to raise interest rates if needed. The monetary tightening pause, now in its seventh month, is repelling investors already worried about double-digit inflation, unorthodox policy, political influence over the central bank’s independence, and dramatic yet unexplained […]
AfDB Invests $258m On Rehabilitation Of Damaged Infrastructural Facilities In N/East ― Adesina
Businessam StaffApril 24, 2019
THE African Development Bank (AfDB) has so far invested $258 million towards the rehabilitation of damaged infrastructural facilities in the Northeast region of the country. Akinwunmi Adesina, the President of AfDB, disclosed this when at the end of a visit to president Moahammadu Buhari in Abuja. He said the affected areas of the intervention included […]
20 customers win N30m in UBA’s Wise Savers Promo
Businessam StaffApril 24, 2019
Twenty lucky customers have won a total of N30 million in the April and second quarterly draw of United Bank for Africa (UBA) Wise Savers Promo. Each of the winners won N1.5 million and it brought the total amount won by 40 customers so far to N60 million. The electronic raffle draw, held at UBA […]
UBA shareholders applaud 2018 performance, request higher dividend payout
Businessam StaffApril 23, 2019
Shareholders of United Bank for Africa (UBA) Plc on Tuesday hailed the board and management of the bank for the impressive performance recorded in 2018 however asked the bank to increase dividend payout. The shareholders gave the commendation at the 57th annual general meeting in Lagos. UBA posted profit after tax (PAT) of N78.6 billion […]
SEC partners Pencom to deepen financial literacy
Adesola AfolabiApril 23, 2019
The Securities and Exchange Commission, SEC, and the National Pensions Commission, Pencom have pledged to work together to ensure more Nigerians are brought into the financial literacy net. This was disclosed in a statement by the SEC as part of the resolutions at a meeting between the |”Technical Committee” on Financial Literacy (FLTC) and Pencom […]
Dollar broadly higher in thin post-holiday trade; euro, Aussie dip
Businessam StaffApril 23, 2019
The dollar edged up against a basket of key rivals on Tuesday, while the Canadian dollar was supported by rising crude oil prices due to U.S. plans to tighten a clampdown on Iranian oil exports from next month. Financial markets in Australia and New Zealand reopened after the long Easter holiday and were set to […]
Cultural group to set up business forum to promote entrepreneurship
Hope IkweApril 22, 2019
By Hope Ikwe, Jos The Ngas Development Association (NDA) has proposed a business forum as it lines up of activities to celebrate its yearly festival known as Pusdung. Gonen Gofwen, president of the association, who addressed journalists said a “Business Round-Table Meeting” has been introduced to the festival which has been celebrated since 1988 to […]
Investors are worried about European bank earnings — here is all you need to know
Businessam StaffApril 18, 2019
Big European banks are set to report their first-quarter earnings starting next week and some investors fear that poor report cards could lead to further volatility in the stock markets. Several analysts have raised concerns over earnings this quarter due to external risks such as low economic growth, uncertainty over U.S.-China trade deal, Brexit and […]
Nigerian govt begins restructuring, recapitalisation of Bank of Agriculture
Busineessam StaffApril 17, 2019
The Nigerian government says it has begun the process of restructuring and recapitalising the Bank of Agriculture. Audu Ogbeh, the minister of agriculture and rural development, led other key players in the sector to the Kick-off meeting of the Financial Advisory Service for Restructuring and Capitalisation Project of the Bank of Agriculture (BOA). The meeting […]
Bank of Italy sees 2020 budget deficit at 3.4% without VAT hike
Businessam StaffApril 16, 2019
The chief economist at the Bank of Italy said the country’s budget deficit could widen to 3.4 percent in 2020 if the government doesn’t increase value-added tax, a red line for the populist coalition in Rome. The higher deficit figure would be in breach of a European Union limit, setting the stage for a new […]