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World Bank Approves $961m Support For Nigeria

World Bank Approves $961m Support For Nigeria

The World Bank, in alignment with the Economic Recovery and Growth Plan of the Federal Government of Nigeria for 2017–2020, has approved two Programme-for-Results operations totalling $961m to support Nigeria’s federal and state governments in their effort to foster inclusion and revive growth. The Better Education Service Delivery for All Programme-for-Results is a $611m credit […]

Don’t Underestimate Inflation: Bank Of England’s Forbes Warns

The increase in headline inflation isn’t just a temporary effect of the exchange rate that’s going to go away Bank of England policy maker Kristin Forbes has a message for her colleagues as her term ends: don’t leave it too late to rein in consumer prices. “For a period now, we have been underestimating the inflationary […]

Dollar Rises To 3-week High Against Yen

Dollar Rises To 3-week High Against Yen

The U.S. currency rose to a three-week high against the yen as Asian investors carried on from their North-American peers in buying the greenback as Federal Reserve speakers pointed to strength in the U.S. economy. The dollar gained for a second day versus Japan’s after New York Fed President William Dudley said he was confident the […]

Experts Warn Against Trouble For The Stock Market

Experts Warn Against Trouble For The Stock Market

There may be trouble ahead for the U.S. stock market, two experts warned on Monday. Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said there is a little enthusiasm and a bit of chasing going on right now in the market. “Valuations are stretched. There’s plenty of headwinds in the second half […]

The Sterling Hits Higher Before UK Wages Data

The Sterling Hits Higher Before UK Wages Data

The UK Pound Sterling strengthened against the dollar on Wednesday as investors awaited UK labour market data for signs of a pick-up in wages that could add to arguments for an eventual rise in record low Bank of England interest rates. The Bank of England (BoE) has highlighted stubbornly low wage growth since the 2008 […]

The Global Economy Is Rebounding, But Here’s One Big Problem

The Global Economy Is Rebounding, But Here’s One Big Problem

China and other developing nations are accumulating wealth, but failing to create sophisticated local markets that feature their own risk-free instruments. There’s a dark cloud building behind the world’s best period of synchronous growth among developed and emerging economies this decade — one that in time could rain down volatility in global markets. The problem, […]

Euro Dips As ECB Holds Rates, Dollar Sturdy

Euro Dips As ECB Holds Rates, Dollar Sturdy

The euro droped against the US dollar on Thursday after the European Central Bank kept interest rates on hold, while the greenback strengthened against a basket of currencies as U.S. Senate testimony by former FBI Director James Comey got underway. The ECB dropped a reference to further interest rate cuts, while repeating it expects rates […]

Why Are Customers Losing Money In Philippines Bank, BPI?

Why Are Customers Losing Money In Philippines Bank, BPI?

This is not a hack, this is an internal issue, BPI chief executive Cezar Consing The Bank of the Philippines Islands (BPI) says a major system glitch led to customers being hit by unauthorised money withdrawals and deposits. The problematic transactions reached up to thousands of pesos. Some users claimed on social media that their accounts […]

Bitcoin Now More Valued Than Gold

Bitcoin Now More Valued Than Gold

As of Monday of the penultimate week, one bitcoin traded at $2,157, at a time when gold was trading at $1,250 an ounce. Believe it or not, bitcoin, the Internet (digital) currency, is now worth a lot more than an ounce of gold. That is, at least for now. The price of gold reached an all-time […]

China’s Daily Yuan Fix Makes Biggest Leap In 5Months

China’s Daily Yuan Fix Makes Biggest Leap In 5Months

It was the yuan’s highest level since Nov. 10 China’s central bank guided the yuan to its biggest one-day jump in roughly five months Thursday, the latest sign that authorities are seeking to bolster the yuan in the wake of the downgrade of the country’s sovereign debt by Moody’s Investors Service last week. The yuan fix […]

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