Market index rises by N18 Billion, Here’s Why

Following improved earning performances recorded by some bluechip stocks, the equities market halted its losing streak to reopen in an upbeat at the end of yesterday’s transactions on the floor of the Nigerian Stock Exchange (NSE), causing market capitalisation to inch up by N18 billion. At the close of transactions, the All Share Index (ASI)[...]

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Debt stock rises to N25.7 trillion – Nigeria

The nation’s debt profile rose from N24.95 trillion to N25.7 trillion in the last three months. One year ago, it was N22.38 trillion. The development showed that between April and June, the country’s obligations rose by N750 billion, and increased by N3.32 trillion when compared with the debt figures as of June 30, 2018. Government[...]

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IMF warns against mistakes that would spell doom for fragile Nigerian Economy

The International Monetary Fund (IMF) says Nigeria cannot afford to make any errors in policy formulation because economic growth is fragile. The Bretton Wood institution made this known in its October 2019 World Economic Outlook report. “Growth in low-income developing countries remains robust, though growth performance is more heterogenous within this group. Robust growth is[...]

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How to invest and make 3million dollars by age 20

Three million dollars sounds like a lot of money. And for the 22% of Americans who say they have less than $5,000 set aside for retirement, saving that much may seem like an impossible goal to work toward. But what if you could retire with $3 million by the time you were 67? The good[...]

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CBN intervenes with over $300million to insure Forex Stability

The Central Bank of Nigeria (CBN) on made an intervention of 311.5million dollar in the retail Secondary Market Intervention Sales (SMIS) and 15 million Chinese Yuan in the spot and short-tenored forwards segment of the inter-bank foreign market. The Director, Corporate Communications Department at the CBN, Mr Isaac Okorafor, confirmed the latest injection in a[...]

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Upcoming Global Recession, Main Concern of UN now

Weaker growth in both advanced and developing countries means the possibility of a global recession in 2020 is a clear and present danger, the UN has warned. In a flagship report, the UN’s trade and development body, Unctad, said 2019 will endure the weakest expansion in a decade and there was a risk of the[...]

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The future of stock Exchange is Bitcoin- New York Exchange

Intercontinental Exchange, the owner of the New York Stock Exchange, launched its bitcoin futures contracts late Sunday, in a move aimed at enticing investors who have hesitated about trading the cryptocurrency. The first trade in the new contracts was executed on ICE’s futures exchange at 8:02 p.m. ET at a price of $10,115, Bakkt, the[...]

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$3BN Uber Buyout puts Careem on a High!

Given the Middle East’s longtime focus on the oil industry, it may be unsurprising that it was not until 2016 that the region produced its first “unicorn” — a tech group valued at $1bn or more. By tapping into the region’s youthful, tech-savvy populations, Careem, a Dubai-based ride-hailing group, has become the poster child for[...]

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Global recession seems to be on the Horizon- Experts

The risk of a global recession is at its highest since August 2009, according to a survey of fund managers, as slowing growth, trade and political uncertainty takes its toll on investor sentiment. Some 38% of investors polled in the Bank of America Merrill Lynch Fund Manager Survey for September, released Tuesday, expect a recession[...]

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The Gold and Silver market surge amidst oil crisis

Gold and silver prices jumped more than 1% on Monday as investors fled to safe-haven assets after an attack on Saudi oil facilities raised concerns over global energy supply and ratcheted tensions in the Middle East. Spot gold jumped 1.27% to $1,507.40 per ounce while U.S. gold futures rose 0.83% to $1,512.1. The gold-backed SPDR[...]

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Agriculture in Africa is about to receive a 25billion AfDB Contribution

The African Development Bank (AfDB), says it is currently investing 25 billion dollars to help make agriculture and agribusiness Africa’s biggest industry. The statement by the bank’s Communication and External Relations Department on Thursday, said the AfDB’s president, Dr. Akinwumi Adesina made the disclosure at the ongoing Tokyo International Conference of African Development (TICAD) in[...]

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Why you still need to buy Bitcoin

Bitcoin (BTC) has been absolutely hammered over the past two days. In fact, some 36 hours ago, it was trading at $10,200; now, the cryptocurrency is sitting snug at $9,500. This dramatic sell-off, which comes after the cryptocurrency traded in the low-$10,000s for a good two weeks, has inflicted investors across the board with a[...]

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Business survey reveals trends going into business for the Final Quarter

The August 2019 Business Expectations Survey (BES) has identified insufficient power supply (65.9 points), high interest rate (56.5 points), financial problems (53.7 points) and unfavourable economic climate (53.5 points), as major factors constrained businesses in the month under review. It also identified unclear economic laws (50.8 points), unfavourable political climate (47 points), insufficient demand (46[...]

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Facebook’s dream of a global cryptocurrency raises political stakes

Facebook introduced its vision for a global cryptocurrency called Libra two months ago, and since then, regulators have piled criticism onto the project. They may have their own reasons. Global privacy regulators, central bankers and finance ministers have voiced concerns with the proposed Libra cryptocurrency because it could, at least in theory, drastically change or[...]

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The African Finance Corporation loans 9mobile $230m to Expand

Africa Finance Corporation (AFC) has announced the approval of a $230 million loan facility for 9mobile to help it attain its long-term growth plans. The new Board and Management of Emerging Markets Telecommunication Services Limited (EMTS), trading as 9mobile, in a statement yesterday, signed by its Executive Director, Regulatory and Corporate Affairs, Abdulrahman Ado, said[...]

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Experts seek varsity for enterprise development

Entrepreneurship is the the activity of setting up a business or businesses and taking up the associated financial risks in the hope of a profit. It’s sometimes driven by pursuit of individual intuitiveness, talent and deliberate efforts in learning. But mostly, it is started small and nursed through stages, to become Small and Medium Enterprise,[...]

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