WEF raises concerns over economic impact of new tech in 2018
Businessam Staff
January 17, 2018
The World Economic Forum (WEF) has raised concerns over what it says is the economic impact of new technologies in a report on global risks released Wednesday. In a review article on the 2018 WEF Global Risks Report, Alison Martin, group chief risk officer, Zurich Insurance Group, said the report also reflected concerns over new […]
Nigerian stocks index appreciates yet again as year-to-date gain climbs 17.37%
Andy NssienJanuary 17, 2018
The Nigerian equities market closed positive Wednesday as benchmark index expanded 1.89 percent to settle at 44,885.24 basis points as against +2.17 percent appreciation recorded previously. Consequently, the bourse’s year-to-date gain climbed to 17.37 percent with market capitalisation standing at N15.61 trillion. Investor sentiment on the day measured by market breadth closed positive as CCNN […]
Improvements in Nigeria, others contribute a third of global growth in 2017 – UN
Businessam StaffJanuary 17, 2018
The United Nations has said that cyclical improvements in Nigeria, Argentina, Brazil and the Russian Federation contributed roughly a third of the rise in the rate of global growth between 2016 and 2017. In its World Economic Situation and Prospects 2018 report seen by businessamalive, the UN indicated that though the recent acceleration in world […]
Nigeria’s exchange traded fund, ETF NGE, pulls 34.13% return in 2017 on equities rally
Businessam StaffJanuary 17, 2018
The Global X MSCI Nigeria ETF (NGE), which invests in among the largest and most liquid companies in Nigeria, made an annual return of 34.13 percent in 2017, according to data gleaned by businesamlive. The impressive run of the fund in 2017 has been largely attributed to the rally in the Nigerian equities market, […]
Oil prices slip as analysts warn correction after 13% gain in past month
Businessam StaffJanuary 17, 2018
Oil prices slipped slightly Wednesday but remained firm underpinned by tightening supply and strong global demand. This is just as analysts are warning of a near correction after 13 percent gain in the past month. Tighter fundamentals have lifted both crude futures benchmarks about 13 percent above levels in early December, helped by production curbs […]
Nigeria to raise $700m to complete its $3.5bn external borrowing plan for 2017
Businessam StaffJanuary 17, 2018
The Nigerian government said it would raise $700 million from external creditors to complete its $3.5 billion external borrowing plan as contained in the 2017 budget. The country’s Debt Management Office (DMO) said in a statement Tuesday that in line with its statutory mandate of funding government budgets, it raised a total of N1.254 trillion […]
Equities market waxes stronger, NSE ASI up 2.2%
Andy NssienJanuary 16, 2018
The equities market sustained its positive close Tuesday as The Nigerian Stock Exchange All-Share- Index inched 2.2% higher to 44,054.72 while year-to-date (YTD) return improved to 15.2%. Consequently, Investors gained N335.2bn as market capitalisation settled at N15.8 trillion. Today’s positive performance was largely driven by sustained buying interest in market bellwethers- DANGCEM (+2.0%), ZENITH (+4.7%) […]
Nigeria equities’ turnover rises 121%, grosses N1.3trn in 2017
Andy NssienJanuary 16, 2018
Nigerian equities’ turnover rose sporadically in 2017 by 121 percent from N0.58 trillion to gross N1.3 trillion, according to the Nigerian Stock Exchange (NSE). Oscar Onyema, the chief executive officer of the NSE, who briefed stockbroking community, analysts, media and other stakeholders Tuesday, attributed the turnover growth partly to the Central Bank of Nigeria (CBN’s) […]
Nigeria inflation rate moderates to 15.37% year-on-year despite energy price pressure
Businessam StaffJanuary 16, 2018
Nigeria’s statistical authority, the National Bureau of Statistics (NBS), Tuesday said inflation rate for the month of December moderated further to 15.37 percent, representing an 11th consecutive monthly decline year-on-year. The report, specifically indicated that headline inflation moderated 53 basis points (bps) from 15.9 percent in November 2017 to a 20-month low of 15.37 percent […]
NNPC pledges enforcing N133.28 per litre ex-depot price of petrol to marketers
Businessam StaffJanuary 16, 2018
Nigeria’s state-owned oil company, NNPC, on Monday said it has deployed more of its depots and other throughput facilities to enforce the N133.28 per litre Ex-Depot price of Premium Motor Spirit, otherwise known as petrol, to marketers directly. This was said in a press statement signed by Ndu Ughamadu, the group general manager, Public affairs […]