Equities Market Opens Week With 0.85% Decline

Equities Market Opens Week With 0.85% Decline

The Nigerian equities market opened the week, yesterday on a bearish note with a decline of 0.85 per cent. In summary, the All Share Index (ASI) shed 378.27 absolute points, representing a decline of 0.85 per cent to close at 44,261.72 points. Similarly, the market capitalisation shed N135 billion, to close at N15.884 trillion. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Forte Oil, Julius…

Read More

Experts predict more investment inflow in 2018

Experts predict more investment inflow in 2018

Investment inflow into the country, which doubled to $4.2 billion in third quarter of 2017 from the previous quarter’s level, is expected to continue in 2018. This is because Nigeria’s business environment remains more attractive and competitive to investors amid expectations of meaningful structural reforms, analysts at Codros Capital Limited have said. Reviewing the 2017 economic performance and predicting the outlook of Nigeria’s macro economic environment for 2018, the Head, Research and Strategy of Codros…

Read More

NSE pricing methodology has provided liquidity for inactive stocks – Experts

NSE pricing methodology has provided liquidity for inactive stocks – Experts

Nigeria Stock Exchange, Lagos Some financial experts on Monday said that the Nigerian Stock Exchange (NSE) amended par-value and pricing methodology has provided liquidity for inactive stocks in the market.Dr Uche Uwaleke, Head of the Banking and Finance Department at the Nasarawa State University in Keffi, said that the amended par-value and pricing methodology had improved the liquidity of stocks that could not be sold below 50k before now. “Since Jan. 29, when it became…

Read More

CBN Mops Up N2.2trn Through OMO In Jan 2018

CBN Mops Up N2.2trn Through OMO In Jan 2018

Liquidity at the Nigerian money market remained tight with the Central Bank of Nigeria (CBN) mop up of N2.185 trillion from the system through Open Market Operations (OMO) auctions which it held all through the month of January 2018. This is 41.7 per cent higher than N1.542 trillion it mopped up through OMO auctions in December 2017. In January it held OMO auctions almost every day taking out N344.47 billion and N553.17 billion in the…

Read More

Marketers Want Full Deregulation Of Petroleum Downstream Sector

Marketers Want Full Deregulation Of Petroleum Downstream Sector

Two key stakeholders in the Nigerian oil and gas sector, Major Oil Marketers Association of Nigeria (MOMAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have called for total deregulation of the petroleum downstream. The executive secretary of MOMAN, Obafemi Olawore, emphasised the need for federal government to consider total deregulation of downstream oil sector, just as the national president of IPMAN, Chinedu Okoronkwo, said his association is set to commence work on its…

Read More

GenCos Foresee Shut Down Of Thermal Plants Over N600bn Debt

GenCos Foresee Shut Down Of Thermal Plants Over N600bn Debt

Electricity generation in the country is facing fresh threat as Generating Companies (GenCos) have foreseen a gradual shut down of thermal plants that are powered by gas. The Gencos raised the alarm as a result of their inability to sustain operations in the light of the over N600 billion debt owed them by the Nigerian Electricity Bulk Trading Company (NBET), an agency of the Federal Ministry of Power. The GenCos lamented that they are now…

Read More

Billionaire Samsung heir Lee Jae-yong jailed for five years

Billionaire Samsung heir Lee Jae-yong jailed for five years

The billionaire heir to the Samsung empire has been sentenced to five years in prison after being convicted of offering bribes to South Korea’s former president. Lee Jae-yong was also found guilty by a panel of three judges of embezzlement, hiding assets overseas, concealing profits from criminal acts and perjury. The court in Seoul found Lee hoped that bribes to then-president Park Geun-hye and a close friend would secure support for a merger that strengthened…

Read More

Trump business council disbands as criticism over Charlottesville reaction grows

Trump business council disbands as criticism over Charlottesville reaction grows

Donald Trump has been forced to disband two White House business councils after the high profile resignations of five chief executives over his Charlottesville comments. The US President has been heavily criticised after he said there was blame on “many sides” for clashes between white supremacists and counter protesters on Saturday. On Wednesday night, hundreds of people gathered on the University of Virginia campus in Charlottesville for a peaceful candlelight vigil.  Hundreds took part in…

Read More

Apple boss Tim Cook joins Donald Trump condemnation

Apple boss Tim Cook joins Donald Trump condemnation

Apple chief executive Tim Cook has become the latest boss to criticise President Donald Trump over his response to the white nationalist rallies in Virginia. Mr Cook said he did not agree there was a “moral equivalence” between white supremacists and “those who oppose them”. Mr Trump has disbanded two business councils after top bosses resigned. Mr Cook said Apple will also make donations to human rights charities. In an email to staff obtained by…

Read More

Amazon to create 1,000 jobs at new UK centre

Amazon to create 1,000 jobs at new UK centre

Amazon is continuing its investment in the UK with the online retail giant unveiling plans for a new distribution centre near Bristol which will create 1,000 new permanent jobs. The Seattle-based company plans to start recruiting engineers, operations managers, HR and IT specialists ahead of the facility’s opening in 2018. It already has 13 such centres in the UK, and is on track to open further new warehouses in Doncaster, Warrington and Tilbury later this…

Read More
1 2 3 4 5 32