Take position in cheap assets, analysts’ advise equity investors
Adesola Afolabi
January 15, 2019
With outlook for the equities market remaining bearish till stability is regained after the 2019 general elections, capital market analysts are advising investors, particularly long term investors to position in cheap assets that have sound fundamentals so as to take advantage of the anticipated post-election rally. Stocks have continued to receive a battering amidst the […]
Tbills, bonds drive 49% Fixed income & currency market turnover in 2018
Adesola AfolabiJanuary 15, 2019
In anticipation of the uncertainty of the elections, 2018 saw investors were more committed to short-term interest yielding instrument, increasing by N5.85 trillion to drive a 49 percent year-on-year turnover in the Fixed Income and Currency (FIC) market as at year end December 31, 2018. However, investment in the FIC market recorded a 9.09 percent […]
Minimum wage: FG tasks Rewane’s technical committee to suggest additional revenue sources
Businessam StaffJanuary 14, 2019
The Technical Committee on the Implementation of a new Minimum Wage inaugurated last Wednesday by President Muhammadu Buhari has been asked to look for additional sources of revenue to pay the minimum wage and the consequential salary adjustment that will follow. The Minister of Budget and National Planning, Senator Udoma Udo Udoma, during an interactive […]
Stock futures snap four-day rally as trade talks, retailers disappoint
Businessam StaffJanuary 10, 2019
U.S. stock index futures dipped on Thursday, after a solid four-day rally, as lack of details on U.S.-China trade talks gave investors pause, while retailers came under pressure after a couple of disappointing holiday-season reports. Beijing said the talks with Washington were extensive and helped establish a foundation for the resolution, but gave no […]
After resigning, World Bank chief joins Nigerian business man in private business
Businessam StaffJanuary 9, 2019
World Bank President, Jim Yong Kim, who announced his resignation from the international bank, has revealed he is going into private business practice with Nigerian born businessman, Bayo Ogunlesi. Financial Times reports that Jim Yong Kim would join Ogunesi’s Global Infrastructure Partners, a New York-based private equity fund, in a position, where he would be […]
Onyema, NSE CEO to review 2018 market performance, provide 2019 prognosis
Adesola AfolabiJanuary 8, 2019
Oscar Onyema, the chief executive officer of the Nigerian Stock Exchange (NSE) will next week Monday address the capital market community in a forum to review the performance of the market in the preceding year and give prognosis for the market for the New Year, 2019. The forum scheduled for January 14, 2019, at the […]
Jim Kim, World Bank president dumps position for investment firm
Adesola AfolabiJanuary 8, 2019
Jim Yong Kim World Bank President has announced plans to resign from the World Bank on Feb. 1 to join a firm focused on infrastructure investments, the Breton wood institution announced Monday. Kim is leaving the bank nearly three years before his term is set to expire in 2022, to focus on increasing infrastructure investments […]
Nigeria opens 2019 borrowings with 2, 3 year -savings bonds offer at 12.12%, 13.12%, closes Friday
Nse Anthony-UkoJanuary 7, 2019
The federal government has commenced its borrowing activities for year 2019 with savings bonds sales by offering for subscription two-year savings bond at 12.12 per cent and three-year savings bond at 13.12 per cent, the Debt Management Office (DMO) has said. According to the offer circular obtained from the DMO website on Monday, the two-year […]
JPMorgan says payments to Libya oil-fund fixer weren’t bribes
Businessam StaffJanuary 7, 2019
JPMorgan Chase & Co. acknowledged that Bear Stearns made millions of dollars of payments to a friend of the son of Libyan dictator Moammar Al Qaddafi around the time it raised $200 million for the country’s wealth fund. But the bank is refuting the Libyan Investment Authority’s central allegation in a London lawsuit that the […]
Wall Street sinks 2 percent on weak factory data, Apple shock
Businessam StaffJanuary 3, 2019
Wall Street sank 2 percent on Thursday as weak U.S. factory data and the fallout of a rare sales warning from Apple Inc fanned fears of slowing growth and spurred the latest leg of a selloff that has sent indexes to their lowest since mid 2017. Apple’s shares slumped 9.2 percent after the company slashed […]