Exchange rate, inflation, hindering attainment of ECOWAS 2020 single currency goal- analyst
Adesola Afolabi
January 28, 2019
Marcel Okeke former chief economist/group head, research & economic intelligence group, at Zenith Bank Plc, has said the plan by Economic Community of West African States (ECOWAS) to achieve single currency for the region by 2020 is no longer realistic, due to challenges and criteria that many of the member countries will not be able […]
NSE announces GNI’s final delisting
Adesola AfolabiJanuary 28, 2019
The Nigerian Stock Exchange (NSE) has announced the final delisting of the entire share capital of Great Nigeria Insurance Plc from its trading platform. The company had last year started the process of voluntary delisting its shares so as to shield it from any enforcement of action that the Exchange may take in light of […]
ECB’s Draghi warns of weaker growth ahead
Businessam StaffJanuary 24, 2019
European Central Bank President Mario Draghi acknowledged on Thursday that economic growth in the euro zone was likely to be weaker than earlier expected due to the fall-out from factors ranging from China’s slowdown to Brexit The region’s economy is already suffering its biggest slowdown in half a decade, raising questions over whether the ECB […]
SEC, NIPC to boost activities on commodities exchange
Oyindamola AlamuJanuary 24, 2019
By Oyindamola Alamu The Securities and Exchange Commission (SEC) and the Nigerian Investment Promotion Commission (NIPC) have unveiled plans to increase activities on commodity exchanges. SEC said that the partnership with the NIPC was designed to attract more investors to the capital market by reviving the commodities exchange market, among other initiatives. Mary Uduk, acting […]
Nobel winner Robert Shiller says there’s still a risk of a full-blown bear market
Businessam StaffJanuary 23, 2019
U.S. stock markets may have recovered slightly from sharp falls at the end of last year, but there’s still a risk of a significant downward trend, Robert Shiller, a professor of economics at Yale University and a Nobel laureate, told CNBC Wednesday. “I’m not confident of my ability to predict, but I think there’s a […]
House of Reps hopeful in Jos proposes open contracting system
Hope IkweJanuary 23, 2019
By Hope Ikwe, Jos A candidate who is vying for the position of lawmaker representing Jo’s North Bassa Constituency in the House of Representative, Vitalis Lanshima, has proposed open contract system and transparency in governance. The aspirant who just completed a 10 year term in the United States as a council man said he intends […]
Banking stocks rally, as stock market rises by 0.5%
Adesola AfolabiJanuary 23, 2019
Nigeria’s stock market rose by 0.5 percent Wednesday as All Share Index settled at 30,878.56 points following gains in banking stocks such as Guaranty Trust Bank (+2.8%), Zenith (+0.9%) and Fidelity (+9.6%). The market’s year-to-date losses thus improved to -1.8 percent while market capitalization increased by N52.8 billion to settle at N11.5 trillion. Activity level […]
Deutsche Bank shares slip on reports of Fed investigation over Danske Bank scandal
Businessam StaffJanuary 23, 2019
Shares of Deutsche Bank slid more than 1 percent in early trading on reports that the U.S. Federal Reserve is investigating the German lender’s role in a money laundering scheme. A report published in Bloomberg, citing sources, said the Fed probe is in very early stages as it examines whether Deutsche Bank’s U.S. arm was involved in moving […]
Merkel calls for global cooperation to reach ‘win-win outcomes
Businessam StaffJanuary 23, 2019
German Chancellor Angela Merkel delivered a robust defense of the post-war multilateral order on Wednesday, lauding compromise as a virtue in international relations in a veiled criticism of U.S. President Donald Trump. In an address to global political and business leaders in Davos, Merkel urged Western powers to think beyond their narrow national interests and […]
Wall Street bounces back on strong corporate earnings
Chris IkosaJanuary 23, 2019
U.S. stocks rose on Wednesday, as strong earnings from IBM, United Technologies and Procter & Gamble led a rebound for Wall Street from its second biggest decline in 2019. International Business Machines Corp jumped 8.78 percent and led the gains on the Dow Jones Industrial Average after the technology services company projected 2019 profit above expectations. […]