Bitcoin extends losses, slips below $15,000, 25% from all-time high
Businessam Staff
December 22, 2017
The price of bitcoin is down more than 25 percent from an all-time high of nearly $20,000 reached this past weekend, market data show on Friday. Prices fell to as low as $14,502 to start today’s trading session, according to CoinDesk’s Bitcoin Price Index (BPI), about 27 percent from the all-time high of $19,783 reported […]
Nigerian equities maintain upward trend as Index climbs above 38,000pts
Jerome UshakangDecember 21, 2017
Equities trading on the floor of the Nigerian Stock Exchange (NSE) consolidated its gaining streak with the All-Share Index (ASI) appreciating by 1.10 percent to close at 38,350.64 basis points in contrast to 0.40 growth the previous day. Similarly, the market capitalization inches up 1.10 percent to close at N13.7trillion. Market turnover also ended positive […]
Mass delisting at the Nigerian bourse imminent as companies fail to meet post-listing obligations
Jerome UshakangDecember 21, 2017
Mass delisting from the Nigerian Stock Exchange (NSE) is imminent as more and more companies quoted on the exchange are hard put to meet post-listing requirements due to the current harsh economic situation. Businessamlive learnt that in the past year there has been more of voluntary delisting, which has raised concerns from the investing public, […]
OECD approves 2017 model tax convention updates to curtail tax avoidance by multinationals
Businessam StaffDecember 21, 2017
The Organisation for Economic Cooperation and Development (OECD) on 18 December 2017 published the condensed version of the 2017 edition of the OECD Model Tax Convention on income and capital (MTC 2017) used by many nations when negotiating bilateral tax treaties. Among other revisions, the latest version of the treaty incorporates changes agreed to by […]
Nigerian equities reverse 2-day downtrend as buy interest in large caps push index 0.4% higher
Businessam StaffDecember 20, 2017
The Nigerian equities market reversed a 2-day downtrend at the close of trade Wednesday as the bourse all-share index (ASI) rose 0.4 percent to 37,933.86 points while year-to-date gain expanded to 41.2 percent. To this end, market capitalization increased by N53.4 billion to settle at N13.5 trillion. The day’s positive performance could be traced to […]
Nigeria ranks 115 in Forbes best countries for business in 2018 on poor trade freedom, tax burden
Businessam StaffDecember 20, 2017
Nigeria, sub-Saharan Africa’s largest economy, which relies heavily on oil as its main source of foreign exchange earnings and government revenues, has ranked 115 out of 153 in Forbes’ 12th annual survey of the Best Countries for Business. The rankings, which were based on 15 different factors including property rights, innovation, taxes, technology, corruption, freedom […]
Eni, Shell to stand trial in Milan over alleged $1bn bribery case in Nigeria
Businessam StaffDecember 20, 2017
Italian giant Eni SpA, Royal Dutch Shell Plc, and senior executives will face trial over a $1.1 billion bribery scandal in the 2011 purchase of an offshore oil block in Nigeria, an Italian judge ruled on Wednesday. The trial will start on March 5 in Milan, judge Giusy Barbara said, according to Bloomberg’s report. The […]
Nigerian banks’ lending pattern pointing to financial exclusion of SMEs
Businessam StaffDecember 20, 2017
A recent analysis of Nigeria’s credit allocation, based upon official data, showed that 83 percent of total lending was above N1billion, which according to FBNQuest Capital, the research arm of FBN Holdings, points towards limited financial inclusion. Analysts at the research firm in their Good Morning Nigeria note Wednesday indicated that Nigerian banks are still […]
Agriculture seen number 1 sector for investment consideration in Nigeria
Businessam StaffDecember 20, 2017
The agricultural sector has been recommended as the best sector for investment consideration in the Nigerian economy. FBNQuestResearch in a tweet “Our 1st sector to invest in the Nigerian economy to Grow Your Money” Wednesday, indicated that since 2014, there has been steady growth in the agriculture sector, and that given the substantial growth rate, […]
Nigerian stocks close 0.46% lower as gale of losses hit Dangote Sugar, ETI, Dangote Cement
Businessam StaffDecember 19, 2017
The Nigerian equities market closed Tuesday negative as the All-Share Index shed 0.46 percent to settle at 37,783.76 points while year-to-date (YTD) gain retreated to 40.6 percent from 41.2 percent previously. Accordingly, market capitalization lost N70.1 billion to settle at N13.4 trillion from the N13.5 trillion it stood Monday. The day’s negative performance is attributable […]