Trade war between the world’s two largest economic powers already is inflicting collateral damage and threatens to do yet more harm to the global economy, the World Bank warned Tuesday. And the global slowdown is beginning as government and corporate debt rise, especially among the poorest countries, while mounting interest rates increase borrowing costs, the […]
Business
Nigeria central bank injects $210 million into currency market
Nigeria’s central bank said on Tuesday it had injected $210 million into the interbank foreign exchange market, as it seeks to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar […]
Crude oil futures gain on optimism over extended US-China trade talk
Crude oil futures ticked higher during mid-morning trade in Asia on Wednesday, underpinned by optimism over US-China trade talks that extended into a third day. At 10:32 am Singapore time (0232 GMT), ICE March Brent crude futures were up 60 cents/b (1.02%) from Tuesday’s settle to $59.32/b, while the NYMEX February light sweet crude contract […]
‘Nigeria lost $2.8bn in revenue in 2018’
Recent report by the United Nations shows that Nigeria lost an estimated 2.8 billion dollars in revenues in 2018, mainly due to oil-related crimes. The report emanated from the Secretary-General on the activities of the United Nations Office for West Africa and the Sahel (UNOWAS)’ on Monday in New York. The document, which covered from […]
4 DisCos exceed 50% metering of consumers in Q2, 2018 — NERC Business
The Nigerian Electricity Regulatory Commission (NERC), says only four out 11 Electricity Distribution Companies (DisCos) in the country have metered up to 50 per cent of customers under their franchise areas. Fashola, electric meter NERC in its 2018 second quarter report published on its website also revealed that only about 45 per cent out of […]
World Bank Group President, Kim, to step down February 1
World Bank Group President Jim Yong Kim yesterday announced that he will be stepping down from his position after more than six years in which the institution’s shareholders provided strong support to multiple initiatives to ensure that the Bank Group retains strong leadership in the world of global development. “It has been a great honor […]
FG Hits N5.320 tn Tax Revenue Target in 2018
The Executive Chairman, Federal Inland Revenue Services (FIRS), Mr. Babatunde Fowler, has disclosed that the agency recorded its highest tax collection of N5.320 trillion in 2018. Fowler had disclosed that FIRS generated N5 trillion in the second week of December 2018 with a target to hit N5.3 trillion revenue at the end of last year. […]
Crude oil futures move up ahead of the US-China trade talk
Crude oil futures continued to trade higher during mid-morning trade in Asia Monday, continuing on their upward rally seen from last Friday as markets await fresh leads from the resumption of trade talks between US and China. At 10:20 am Singapore time (0220 GMT), ICE March Brent crude futures were up 64 cents/b (1.12%) from […]
New Abuja airport terminal opens for business
The new terminal at the Nnamdi Azikiwe International Airport, Abuja, is now being used, with Asky Airlines leading the way. Asky Airlines’ B737-700 aircraft with flight number ET-AVP, which landed at the airport at 3:30 p.m from Lome in Togo, had 91 persons on board comprising 85 passengers and six crew members. Commenting on the […]
Business Owners Happy with N5, 000 March 31st business registration extension by CAC
By Foster Obi More Nigerian Traders and potential business owners have expressed happiness on the extension of the 50percent slash registration fee till March 31 2019 by the Corporate Affairs Commission CAC). A cross section of traders and business men that spoke to economywatchng.com said the extension was in their interests. “Some us could not […]