Ecobank pledges digital products customisation for SMEs development
Businessam Staff
January 17, 2019
Ecobank Nigeria Plc has pledged its commitment to building a strong small and medium enterprises (SMEs) sector by ensuring that ts digital products accommodate and transform the entire value chain of SMEs in the country. Towards this goal, the bank is deploying digital products like Omnilite which is an online internet banking platform that provides access […]
Trading operations stung banks in fourth quarter but dovish Fed fuels hope
Businessam StaffJanuary 17, 2019
Big trading operations were a thorn in the side of the top U.S. banks in the fourth quarter as fears about global growth sent credit markets into a tailspin, but a “dovish” turn from the Federal Reserve may mean the drama is over for now. Citigroup Inc, JPMorgan Chase & Co, Goldman Sachs Group Inc […]
Bank of Japan to cut inflation forecast due to sharp fall in oil prices
Businessam StaffJanuary 16, 2019
The Bank of Japan is almost certain to cut its inflation forecast for the fiscal year starting in April given the sharp fall in oil prices, according to sources familiar with the matter. The government’s decision to make preschool education free adds to the case for the downgrade, which will be delivered at the end […]
China central bank’s record $83 billion injection heightens worries over ailing economy
Businessam StaffJanuary 16, 2019
China’s central bank injected a record $83 billion into the country’s financial system on Wednesday, seeking to avoid a cash crunch that would put further pressure on the weakening economy. China’s policymakers are pledging to step up stimulus measures this year and do more to protect jobs as economic growth cools to 28-year lows. But […]
Capital market expert wants Osinbajo to lead CAMMIC
Adesola AfolabiJanuary 15, 2019
Uche Uwaleke of Nasarawa State University Keffi, is advocating for the leadership of Capital Market Master Plan Implementation Council (CAMMIC) to rest on Yemi Osinbajo, the country’s vice president, and head of the country’s economic team. This advocacy, according to Uwaleke, who is also Nigeria’s first professor of capital market and the president of the […]
Top three sectors that boosted Nigeria’s VAT collection in 2018
Adesola AfolabiJanuary 15, 2019
Nigerians applauded a historical feat achieved by the apex tax collecting agency of the federal government of Nigeria when it boasted of its highest collection amounting to N5.3 trillion last week. While VAT charges constitute a significant portion of revenue generated in the country, a perusal of major contributors to this income boost revealed that […]
Take position in cheap assets, analysts’ advise equity investors
Adesola AfolabiJanuary 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 […]