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FG Working To Retain Petrol At N145 Says kachikwu

FG Working To Retain Petrol At N145 Says kachikwu

Dr. Ibe Kachikwu, the Minister of State for Petroleum Resources, has said a number of steps have been taken to maintain the pump price of Premium Motor Spirit (petrol) at N145 per litre despite significant challenges in the downstream sector. Kachikwu stated this in Lagos on Wednesday in a keynote address at the Rainoil 20th […]

Post-Brexit Vote: UK Stocks May Reach Its Limit As Sterling Jumps

Britain’s benchmark stock index has soared by over a fifth since the post-Brexit referendum low it reached in late June, yet some believe the stunning momentum is soon set to fade. The rally has been largely driven by the plummeting British pound since the Brexit vote which had fallen by as much as 19 percent against the U.S. dollar by […]

Oil Prices Fall, Gains After Slumping Amid Growing Dc Turmoil

Oil futures retraced losses on Thursday after a deepening political crisis in Washington accelerated an early morning decline in prices. Brent crude rose 21 cents at $52.42 a barrel by 10:36 a.m. ET (1436 GMT). U.S. crude oil was up 18 cents at $49.25. Investors became increasingly cautious following the latest reports of links between Russia and the […]

Bitcoin’s Blockbuster Week In Charts

Bitcoin’s Blockbuster Week In Charts

Bitcoin broke through $1,800 to a fresh record high on Thursday, and has gained more than $200 this week alone, driven by a huge jump in demand from around the world. The digital currency started off the week at around $1,555 per coin, then breached $1,700 for the first time on Tuesday before carrying on […]

Nigeria Identified Among Top Global Investment Destinations For 2018

Nigeria Identified Among Top Global Investment Destinations For 2018

Nigeria has been identified as one of the top five countries for 2018 growth acceleration. Other countries in the group include Kuwait, Oman, Kazakhstan and Tunisia. The Global Chief Economist at Renaissance Capital, Charles Robertson, who made this forecast in a report titled: “Africa 2017,” urged investors to take advantage of the opportunities in these […]

States’ IGR Hits N802bn, Rises By 17% – NBS

States’ IGR Hits N802bn, Rises By 17% – NBS

The National Bureau of Statistics (NBS) on Thursday released the Internally Generated Revenue figures for 35 states for the 2016 fiscal period with the total IGR rising by 17 per cent. Specifically, the IGR increased by N119.28bn from N682.67bn in 2015 to N801.95bn The bureau in the report, a copy of which was made available […]

Pound To Dollar Recovers After Data Shows Dip In US Inflation

Pound To Dollar Recovers After Data Shows Dip In US Inflation

The Pound Sterling to Dollar recovered on Friday after the release of US Inflation and Retail Sales data undershot expectations and raised questions about the strength of the US recovery. Whilst headline inflation came out in line with expectations, the arguably more important, Core inflation increased by a lower-than-expected 0.1% in April and 1.9% on […]

Naira Firms As CBN Settles Forex Demand For Airlines, Fuel

Naira Firms As CBN Settles Forex Demand For Airlines, Fuel

The Nigerian Naira firmed against the US currency at the investors and export window as well as inter-bank spot market after the Central Bank of Nigeria was said had planned to auction an undisclosed amount of dollars on Wednesday through book building to settle a backlog of demand for airlines, fuel and raw material imports. […]

Nigeria Stock Rise To Over 6-month High

Nigeria Stock Rise To Over 6-month High

Nigeria stocks rose to more than six-month high on Wednesday, as news circulates of the imminent return of foreign portfolio investors (FPIs) who fled the market about two years ago, over concerns around the country’s foreign exchange policy. Foreign portfolio managers who fled Nigeria are beginning to test the waters again, using the platform of the […]

Bank Of England Lowers 2017 Growth Forecast, Leaves Rates Unchanged

Bank Of England Lowers 2017 Growth Forecast, Leaves Rates Unchanged

The Bank of England held interest rates steady at 0.25 percent, as expected, on Thursday while implementing some widely anticipated modifications to its growth and inflation assumptions over the three-year forecast horizon. Meantime, the Bank maintained stock levels of government bonds and corporate bonds at £435 billion and £10 billion, respectively, also as expected. Governor […]

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