Wall Street stocks fall after US kills Iran general
Businessam StaffJanuary 3, 2020
Wall Street stocks retreated from records early on Friday after a US strike killed a top Iranian commander, prompting threats of reprisal by Tehran. About 20 minutes into trading, the Dow Jones Industrial Average stood at 28,661.44, down 0.7 per cent. The broad-based S&P 500 also shed 0.7 percent to 3,236.58, while the tech-rich Nasdaq […]
Oil prices soar following US killing of Iran’s top general
Businessam StaffJanuary 3, 2020
Oil prices soared early on Friday morning after US forces in Iraq assassinated Iran’s most powerful and visible military leader, Qassem Soleimani. The United States killed the Iranian general in an airstrike early on Friday morning according to Pentagon reports. Influential Iraqi militia commander and advisor to Soleimani, Abu Mahdi al-Muhandis, was also killed in […]
NECA calls for synergy between fiscal, monetary policies in 2020
Businessam StaffJanuary 3, 2020
As part of its expectations for 2020, the Nigeria Employers’ Consultative Association (NECA) has called for synergy between the fiscal and monetary policies of the Federal Government. Its Director-General, Timothy Olawale, made the call in an interview in Lagos on Thursday. It has been reported that NECA is the umbrella organisation of employers in the […]
Boko Haram, herdsmen undermining agric sector, says World Bank
Businessam StaffJanuary 3, 2020
The Boko Haram insurgency and herdsmen attacks in parts of the country undermined the growth of Nigeria’s agricultural sector, according to a report released by the World Bank. The Federal Government’s Economic Recovery and Growth Plan targets agriculture as a key sector to support economic diversification and promote import substitution. The strategy aims to achieve […]
2020: NSE reviews stock market indices
Omobayo AzeezJanuary 2, 2020
By Omobayo Azeez
Equities extend uptrend to open year with 0.1% uptick
Businessam StaffJanuary 2, 2020
By Omobayo Azeez The Nigerian equity market extended the gaining streak with which it ended 2019 to open activities in the new year, 2020, as benchmark index rose by 0.1 per cent. Despite the average decline of 0.59 per cent for the month of December 2019 and full year return of -14.60 per cent for […]
Aliko Dangote became $4.3bn richer in 2019 – Bloomberg
Businessman StaffJanuary 2, 2020
Africa’s richest man, Aliko Dangote, became $4.3 billion richer in 2019 as his fortune continued to grow on the back of investments in cement, flour and sugar. The 62-year-old Nigerian businessman and Africa’s most prominent industrialist ended the decade with a net worth of almost $15 billion, making him the 96th wealthiest man in the […]
Customers lament banks’ non-compliance with CBN’s guidelines on ATM charges
Businessam StaffJanuary 2, 2020
Some bank customers have frowned at their banks for not complying with the new guidelines for charges on automated teller machine, released by the Central Bank of Nigeria. Some of the customers who spoke in Abuja, regretted that banks had now devised a means of deducting ATM charges without sending the alert to their customers. CBN […]
Nigerians want further cut as new bank charges commence
Businessam StaffJanuary 2, 2020
Bank customers across Nigerians yesterday enjoyed the new cut in bank charges for cash withdrawals and electronic transfers, investigations have revealed. The CBN had on December 20, 2019 slashed bank charges across several platforms. “This new Guide to Charges by Banks and Other Financial Institutions issued in 2017, takes effect from January 1, 2020, and […]
Africa’s free trade area worth $3.3trn, says AFDB
Businessam StaffJanuary 2, 2020
Akinwumi Adesina, president of the African Development Bank, Akinwumi Adesina, has said that the biggest thing to happen to Africa is the African Continental Free Trade Area (AfCFTA), saying the free trade area itself is worth over 3.3 trillion dollars. Adesina, who stated this when he addressed State House correspondents in Abuja on Tuesday, expressed […]