Tuesday, May 23, 2017

CBN injects $205m as Naira falls to N379/$

The Central Bank of Nigeria (CBN) yesterday injected $205 million into the foreign exchange market even as the naira depreciated to N379 per dollar in the parallel market.

We must produce enough fuel by 2019 or I’ll resign — Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has vowed to resign if the country fails to attain self-sufficiency in the refining of petroleum products by

Monday, May 22, 2017

CBN Signals Retention of Tight Monetary Policy, Targets Rate Convergence

As the Monetary Policy Committee commences its two-day meeting today, a Deputy Governor of the Central Bank of

Tuesday, May 16, 2017

Get ready for new Apple laptops next month

Apple is preparing three new laptops that are expected to launch next month

MORGAN STANLEY: IBM's stock could explode 40% (IBM)

Don't let Berkshire Hathaway's IBM stock selloff scare you, Morgan Stanley says.

Oil prices build on gains on expectation of extended crude supply cut

Oil prices rose on Tuesday, extending gains after a joint announcement by top producers Saudi Arabia and Russia to push for an extension of supply cuts until the

Islamic banks expand but double-digit growth is over: report

Islamic banks have continued to expand their balance sheets and capital buffers, but the era of double-digit growth rates could be coming to an end while asset quality

Capital market experts caution on equities investment

Experts in the nation’s capital market have stressed that the positive rally witnessed in the nation’s equities market last week , following the launch of the Investors’ and Exporters’ FX

Monday, May 15, 2017

Asia stocks shrug off cyber attack, North Korea threat to hit two-year high

Resilient Asian stocks edged up to a two-year high on Monday, shaking off threats from by a ransomware attack that locked some 200,000 computers in more than 150

Oil jumps as Saudi, Russia take lead and extend supply cuts to March 2018

Oil prices jumped 1.5 percent on Monday after the energy ministers of the world's two biggest producers Saudi Arabia and Russia jointly said that a crude production cut

Sunday, May 14, 2017

Nigeria’s e-commerce sector searches for new strength

Across the globe, businesses are going online. This has been championed by the Internet technology. The Internet value chain, estimated to worth $5.8t, has brought with it a lot of

Russian banks, ministries hit by viral attacks

Russia’s central bank said Saturday the country’s banking system was hit by a mass cyberattack, as several ministries and the railway system also reported attempted breaches

Thursday, May 11, 2017

Marketers accuse NNPC of nepotism as fresh controversy trails crude swap deal

A new petrol import scheme put in place by the Nigerian National Petroleum Corporation, NNPC, is enmeshed in controversy as marketers accuse the management of the state oil firm of

Bank of England's Carney likely to stress virtue of patience

Faced with Brexit unknowns, a national election and mixed economic data, Bank of England Governor Mark Carney and his colleagues will probably say on Thursday they

Wednesday, May 10, 2017

Here Is Why VW rejects calls to publish dieselgate probe findings

Volkswagen (VOWG_p.DE) on Wednesday rejected investor calls for the carmaker to publish the results of a key investigation into its diesel emissions cheating scandal,

Oil rises after U.S. inventories drop, but extra supplies weigh

Oil prices rose on Wednesday after a larger-than-expected fall in U.S. crude inventories but failed to recoup last week's losses due to concerns about rising output from the

Futures fall after FBI Chief Comey sacked

U.S. stock index futures were lower on Wednesday after President Donald Trump's firing of his FBI chief set off a political storm that could make passage of his pro-

Agip Set To Build 150,000bpd Refinery In Nigeria

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday disclosed that the Federal Government and Italian oil giant, Agip, had reached an

Nigeria gets $40m of Opera’s $100m investment in Africa

Barring any unforeseen circumstances, Opera, the developer of the most popular mobile browser, Opera Mini, is to invest $100 million (N30 billion) in Africa over the next two years

Tuesday, May 9, 2017

Uber drivers protest against 40 per cent fare reduction

“I spent N50,000 on fuel last week and UBER paid me just N80,000 when I was supposed to get double of that amount,” one of the drivers said.. The protest started with a peaceful