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Boeing Co’s shares fell more than 3 percent on Tuesday as more countries grounded the planemaker’s 737 MAX 8 aircraft amid heightened anxiety among travelers about the safety of the plane. Malaysia, Singapore and Australia became the latest nations to ground Boeing’s best-selling line of jets, one of which also crashed in Indonesia in October. […]

Foreign and domestic investors in the nation’s stock market pulled out a total of N61.67bn in January, the Nigerian Stock Exchange said on Monday. The NSE said foreign and domestic investors withdrew N39.04bn and N22.63bn respectively from the market in the month while a total of N60.42bn was injected into the market. Outflow includes sales […]

The Central Bank of Nigeria is set to conduct a primary market auction on Wednesday to roll over N89.5bn worth of Treasury bills maturing on Thursday, across the 91-day (N5bn), 182-day (N14bn) and 364-day (N70.5bn) tenors. The 91-day tenor had a last stop rate of 10.90 per cent and is expected to have a stop […]

Shares of Deutsche Bank and Commerzbank surged Monday after reports that the two have agreed to hold merger talks. Several media reports over the weekend suggested Deutsche Bank CEO Christian Sewing had dropped his opposition to the deal. Sewing was reportedly forced to reconsider his stance following investor pressure over the bank’s declining performance. The German government, which still owns […]

China and Indonesia grounded their fleets of Boeing’s 737 MAX 8 aircraft on Monday as witnesses recalled the terrifying spectacle of smoke and debris trailing from an Ethiopian Airlines plane before it crashed killing 157 people. The disaster came just months after a jet of the same model came down in Indonesia killing 189 people, […]

Crude oil prices rose marginally on Monday, driven by comments from Saudi Arabian oil minister, Khalid al-Falih, that an end to the Organisation of Petroleum Exporting Countries (OPEC)-led supply cuts was unlikely before June. U.S. West Texas Intermediate (WTI) crude oil futures stood at about $56.39 per barrel at 0323 GMT, up 32 cents, or […]

The United States cut its imports of Nigerian crude oil by 48.87 million barrels or 43 per cent in 2018, according to the latest data released by the Energy Information Administration. The US imports of Nigerian crude fell to 64.06 million barrels last year from a five-year high of 112.92 million barrels in 2017. The […]