UK pushes to increase regulation of Bitcoin, to apply anti-money-laundering rules on digital currencies

Britain wants to increase regulation of Bitcoin and other digital currencies by expanding the reach of European Union anti-money-laundering rules that force traders to disclose their identities and report suspicious activity, according to Reuters’ report. With demand for Bitcoin surging, fuelling a 1,000 percent rally in its value so far this year, the British finance […]

2018 budget lacks capacity to grow the economy, analysts say

President Buhari presents 2018 budget

Despite commendations for the timely presentation of the N8.6 trillion 2018 National Budget to the National Assembly by President Muhammadu Buhari, analyst say the budget lacks the capacity to grow the economy. The analysts who identified varying flaws of the budget specifically noted that the budget does not seem to be expansionary and that Nigeria […]

Oil prices fall after U.S. shale drillers add more rigs

Oil fell Monday after U.S. shale drillers added more rigs last week, but prices held not far off their highest since mid-2015, supported by an extension of output cuts agreed last week by OPEC and other producers. Drillers in the United States added two oil rigs in the week to Dec. 1, bringing the total […]

Ageing population ‘poses risks to global economy’

An ageing global population could be putting the brakes on economic growth, resulting in an almost permanent squeeze on living standards, a leading investment bank has warned. Older workers are typically less dynamic than younger participants in the labour market, economists believe, while pensioners spend their investments rather than making new ones. Slower growth in […]

Nigeria equities’ week-to-date gain in 3-month high as market capitalization exceeds N13trn

Nigerian stocks sustained positive run Thursday, up 0.62 percent against the backdrop of buying interest in bellwether industrial goods and banking stocks – DANGCEM (+1.7%), WAPCO (+1.6%) and GUARANTY (+1.1%) and ZENITH (+0.6%). The performance thus closed the week largely bullish as large, mid, and small cap stocks rallied. To this end benchmark index appreciated […]

OPEC, Russia to extend oil production cuts until end of 2018

Emmanuel Kachikwu, Nigeria's petroleum minister said in a Bloomberg television interview

OPEC and Russia are ready to extend their oil production cuts until the end of next year to ensure global stockpiles keep falling and prices maintain recent gains, according to Bloomberg report. All OPEC members and Russia, the biggest producer outside the group to join the deal, agree the cuts should last until the end […]