1600 - Episodes
Oil Price Shows Little Change
2020-08-06
Oil prices were little changed at 5-month highs on Thursday, as investors weighed a resurgence in COVID-19 infections in some places around the globe ...
Reserve Bank Of India Leaves Repo Rates At 4%
2020-08-06
The Reserve Bank of India kept its benchmark repo rate at 4 percent during its August meeting, surprising markets that expected a 25 bps rate cut, to ...
Bank of England Maintains Interest Rate At Record Low
2020-08-06
The Bank of England voted unanimously to maintain the key bank rate at a record low of 0.1% on August 6th 2020, in line with market forecasts. The Com...
US Warns ISWAP, Al-Qaeda Taking over West Africa.
2020-08-06
The US-backed AFRICOM has warned that the Islamic State and Al-Qaida terrorist groups are gradually taking over the West African region after being di...
Japan Marks 75th Anniversary Of Hiroshima Atomic Bomb
2020-08-06
Japan on Thursday marks 75 years since the world’s first atomic bomb attack, with the coronavirus pandemic forcing a scaling back of ceremonies to com...
Facebook And Twitter Restrict Trump Accounts Over Harmful Virus Claim
2020-08-06
Facebook and Twitter have penalised Donald Trump and his campaign for posts in which the president claimed children were "almost immune" to coronavi...
Tiktok To Open $500m Data Centre In Ireland
2020-08-06
TikTok has said it plans to build a $500m (£375m) data centre in Ireland. It will store videos, messages and other data generated by European users fr...
Mozambique Declares Second Virus Emergency
2020-08-06
Mozambican President Filipe Nyusi has announced another 30 days of emergency from Friday midnight in a bid to limit the spread of coronavirus. This is...
Botswana Bans Alcohol Sales
2020-08-06
Botswana's government has banned the sale of alcohol and suspended all liquor licences. A gazette notice said the suspension was until further notice....
Gambian President Declares State Of Emergency
2020-08-06
Gambian President Adama Barrow has declared a state of emergency and introduced nationwide night curfew for 21 days as coronavirus cases keep rising. ...
MTN To Exit Middle East Over Medium-Term
Publication Date: 2020-08-06
South African mobile operator MTN Group on Thursday said it will be exiting the Middle East over the medium term, starting with the sale of its 75% st...
U.S. Imposes Sanctions On Zimbabwe Businessman
Publication Date: 2020-08-06
The United States on Wednesday imposed sanctions on Zimbabwean Kudakwashe Tagwirei, an adviser to President Emmerson Mnangagwa, accusing the prominent...
Gambia Coronavirus Cases Surge 60% In A Week
Publication Date: 2020-08-06
Health ministry data has showed that Coronavirus cases in Gambia, mainland Africa’s smallest country, have surged over 60% in the last seven days to n...
Buhari Petitioned Over Agencies Refusal To Honour Committee Invitations
Publication Date: 2020-08-06
The House of Representatives is set to petition President Muhammadu Buhari over the refusal of some agencies of government to appear before its Commit...
Nigeria Records 457 New COVID-19 Cases
Publication Date: 2020-08-06
The Nigeria Centre for Disease Control has confirmed 457 new cases of coronavirus in the country. This brings the total number of COVID-19 infections ...
Gold Price Rises Above $2,000 For First Time
Publication Date: 2020-08-05
Gold has topped $2,000 (£1,527) an ounce for the first time as traders look for havens amid the pandemic. Investors have moved cash into the precious ...
Kenya Private Sector Expands At Strongest Level In A Year
Publication Date: 2020-08-05
A survey on Wednesday showed that activity in Kenya’s private sector rose at its fastest pace in a year last month on the back of a gradual easing of ...
South African Rand Rises After Slipping To Two-Month Low
Publication Date: 2020-08-05
South Africa’s rand inched up on Wednesday after dropping to two-months lows the day before, as some risk demand returned amid concern over the global...
Morocco To Reform State Bodies In Virus Response
Publication Date: 2020-08-05
Morocco Finance Minister on Wednesday said plans to reform, merge or dissolve some state bodies to reduce their dependency on a state budget hit by th...
South Africa's Mobile Operator Cell C Defaults On Repayments On $184 Mln Bond
Publication Date: 2020-08-05
South Africa’s Blue Label Telecoms on Tuesday said that Cell C, in which it is the largest shareholder, had defaulted on the payment of capital on its...
South Africa's Sharp Economic Downturn Extends into July
Publication Date: 2020-08-05
A survey on Wednesday showed that South Africa’s economic downturn extended into last month, though businesses still reeling from the impact of the CO...
Golden Star Resources Limited Assures Employees
Publication Date: 2020-08-05
Golden Star Resources Limited says the agreement with Future Global Resources to trade off 90 percent interest in the Bogoso-Prestea Gold Mine will no...
UBA Leads $1.5bn Oil Sector Financing Deal
Publication Date: 2020-08-05
The United Bank for Africa Plc (UBA), a leading pan-African financial services group, has acted as the lead arranger of a consortium of Nigerian comme...
Senate Suspends UBA/NITEL Probe
Publication Date: 2020-08-05
The Senate Committee on Ethics, Privileges and Public Petitions has suspended the probe of the United Bank for Africa. The panel, led by the Chairman,...
Consumers Prepare to Pay More As Ex-depot price rises by N6
Publication Date: 2020-08-05
The Petroleum Products Pricing Regulatory Agency on Tuesday increased the ex-depot price of petrol by N6 to N138.62/litre for the month of August 2020...
China Becoming Apprehensive About Nigerian Loans
Publication Date: 2020-08-05
The Federal Government on Tuesday said China is becoming apprehensive about releasing loans to Nigeria following probes by the National Assembly on lo...
FG Pushes for Rapid Nationwide Adoption of Gas for Transportation
Publication Date: 2020-08-05
The federal government said it is pushing fast for Nigerians to adopt natural gas as an alternative to petrol and diesel for transportation vehicles. ...
Government Urges Post-Brexit Drug Stockpiles
Publication Date: 2020-08-04
The government has urged pharmaceutical firms to have six weeks' worth of drugs stockpiled, in readiness for the end of the Brexit transition period. ...
US Gives Conditions For Boeing 737 MAX To Fly Again
Publication Date: 2020-08-04
US aviation regulators on Monday spelled out new requirements for the Boeing 737 MAX before the grounded jet is permitted to fly again. The agency in ...
BP Cuts Dividend As Losses Increases On Poor Oil Demand
Publication Date: 2020-08-04
BP has halved its dividend and reported a record $6.7bn quarterly loss after the coronavirus pandemic hit global demand for oil. The dividend cut is a...
US Treasury Negotiates Cut Off Tiktok Deal
Publication Date: 2020-08-04
Donald Trump says the government should get a cut from the sale of TikTok's US unit if an American firm buys it. The US president said he made a deman...
South Africa's Rand Steadies As Investors Seek Fresh Recovery Signals
Publication Date: 2020-08-04
South Africa’s rand firmed slightly early on Tuesday, pausing after a five-session long steep slide as demand for U.S. dollars eased, and waited for n...
South Africa's Eskom Seeks $221 Million Damages Over Coal Deal
Publication Date: 2020-08-04
Power utility Eskom and South Africa’s Special Investigating Unit (SIU) on Monday said they had issued a court summons in an effort to recoup 3.8 bill...
SAB dumps $290 mln investment plans after South Africa alcohol ban
Publication Date: 2020-08-04
South African Breweries (SAB) on Monday said it was cancelling 5 billion rand ($290 million) of planned investments as a result of revenue losses sust...
Custodian Investment to Acquire 51% Equity Interest in UACN Property
Publication Date: 2020-08-04
Custodian Investment Plc has signed a binding agreement with UAC of Nigeria Plc to purchase a 51 per cent equity interest in UACN Property Development...
CBN Survey Shows Trade To Drive Growth In August
Publication Date: 2020-08-04
According to expectations from firms, the retail and wholesale trade sector will drive business expansion in August. The statistics department of the ...
Eni Says It Complied With Oil Prospecting License 245 Law
Publication Date: 2020-08-04
Eni, a global oil giant, with operations in Nigeria, on Monday said it complied with the law on issues pertaining to Oil Prospecting License 245. It s...
Nigeria’s Oil Projects Threatened As IOCs Suffer $27.8bn Loss
Publication Date: 2020-08-04
Several major oil and gas projects in Nigeria may suffer further delays as international oil companies operating in the country saw their financials t...
Microsoft Continues Talks To Buy Tiktok's US Operations
Publication Date: 2020-08-03
US tech giant Microsoft has confirmed that it is continuing talks to purchase the US operations of Chinese-owned video-sharing app TikTok. The tech fi...
HSBC's Profits Slump 65% Amid Coronavirus Downturn
Publication Date: 2020-08-03
HSBC's profits for the first half of this year have plunged 65% as it battles the coronavirus downturn. The UK's biggest bank posted pre-tax profits o...
Algeria Allows First Islamic Finance Products By State Banks
Publication Date: 2020-08-03
Algeria on Sunday said it had given the go-ahead to a plan aimed at offering Islamic finance services, as it seeks new funding sources to cope with fi...
South Africa's July Absa PMI Shows Slower Improvement
Publication Date: 2020-08-03
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) expanded in July, although at a slower rate compared to the previous month. T...
South Africa's Rand Falls as Virus Fears Hit Risk Appetite
Publication Date: 2020-08-03
South Africa’s rand fell to its weakest in more than three weeks on Monday, as fears about the economic fallout from rising COVID-19 cases dented inve...
Shoprite To Pull Out Of Nigeria
Publication Date: 2020-08-03
One of Africa’s biggest grocery retailer, Shoprite, has indicated plan to exit the Nigerian market 15 years after it entered the country. The company ...
FG Reiterates Pledge to Unlock Opportunities in Gas Sector
Publication Date: 2020-08-03
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said Africa, particularly Nigeria, has huge gas resources whi...
LCCI Tells Govt To Review Courier Regulation By NIPOST
Publication Date: 2020-08-03
The Chamber of Commerce and Industry has described the dual role of the Nigerian Postal Service as a regulator and operator of the courier business as...
Surveyors Tackles FIRS Over Stamp Duty On Rents
Publication Date: 2020-08-03
The Nigerian Institution of Estate Surveyors and Valuers has expressed disappointment over the imposition of stamp duties ranging from 0.78 per cent t...
Bristow Helicopters Embarks On A Strike Action
Publication Date: 2020-08-03
The National Association of Aircraft Pilots and Engineers has directed all its members engaged with Bristow Helicopters to embark on a strike action s...
FG Urged to Adhere to Transparency in Public Finance Mgt.
Publication Date: 2020-08-03
The federal government has been tasked to ensure transparency and fiscal equity in its drive to utilise public finance. The charge was given by the Ci...
Marketers Stockpile Petrol As August Price May Hit N150/Litre
Publication Date: 2020-08-03
Investigation has shown that filling station owners are currently in panic buying mood, as many of them are stockpiling products ahead of the announce...
Banks Implement New CBN Guidelines On Debt Recovery
Publication Date: 2020-08-03
Deposit Money Banks on August 1 commenced the implementation of the Central Bank of Nigeria’s Global Standing Instruction which allows them to recover...
Flipkart Buys Parent Walmart's Indian Wholesale Business
Publication Date: 2020-07-23
India’s Flipkart on Thursday said it had acquired parent Walmart Inc’s local cash-and-carry business, as the e-commerce firm strengthens its wholesale...
Vodacom Q1 Revenue Rises On Strong Data Demand During Lockdown
Publication Date: 2020-07-23
South African mobile operator Vodacom Group Ltd on Thursday reported a 7.6% rise in first-quarter group service revenue, buoyed by strong demand for v...
South Africa's Rand Up Before Central Bank's Rate Decision
Publication Date: 2020-07-23
South Africa’s rand gained early on Thursday, before a central bank decision on interest rates, as tensions between China and the United States resurf...
Sudan 2020 Budget Will Adjust Currency; Float In 2 Years
Publication Date: 2020-07-23
According to Government sources, Sudan’s amended budget for 2020 includes a currency adjustment programmme beginning in August that aims to reach a fu...
African Development Bank Approves 5 Bln Rand Loan To South Africa
Publication Date: 2020-07-23
The African Development Bank (AfDB) on Wednesday said it has approved a roughly 5 billion rand ($300 million) loan to the South African government to ...
GHIPSS Records 81% Growth In 2020 1st Half
Publication Date: 2020-07-23
Latest figures from the Ghana Interbank Payment and Settlement Systems (GhIPSS) show that patronage of electronic payment channels that go through the...
CBN Disburses N635.39bn To Commercial Farmers
Publication Date: 2020-07-23
The total amount disbursed to farmers under the Commercial Agriculture Credit Scheme from inception in 2009 rose to N635.39bn as of the end of March 2...
FG’s July Bonds Oversubscribed By N340.13bn
Publication Date: 2020-07-23
The Debt Management Office said the Federal Government Bonds for the month of July worth N130bn, which were auctioned on Wednesday, were oversubscribe...
MAN, LCCI Decry Inaccessible N50bn COVID-19 Loan
Publication Date: 2020-07-23
Micro, Small and Medium Enterprises who are members of the organised private sector have decried their inability to access the loan offered by the Cen...
Oyo Plans N100bn-Bond For Roads, Airport
Publication Date: 2020-07-23
The Oyo State Government has approved N100bn private bond tagged the Oyo Prosperity Bond to facilitate the execution of priority projects in a bid to ...
Oil Falls To $43 As US Crude Inventories Rise
Publication Date: 2020-07-23
Oil prices fell on Wednesday as the United States government data showed a surprise rise in the country’s crude inventories, and as tensions escalated...
IMF Approves $7.6 Mln Debt Relief To Burundi To Cushion Covid-19 Effects
Publication Date: 2020-07-21
The International Monetary Fund on Monday said it had approved $7.6 million debt relief to Burundi to help address the economic impact of the COVID-19...
IES Predicts Marginal Stability In Fuel Prices For 2nd Pricing Window In July
Publication Date: 2020-07-21
The Institute of Energy Security, IES, says fuel prices will be marginally stable for the second pricing window for July 2020 across various pumps in ...
COPEC Urges Gov’t To Widen Tax Net To Make Up For Oil Revenue Shortfalls In Mid-Year Budget
Publication Date: 2020-07-21
The Chamber of Petroleum Consumers Ghana, COPEC, says government would have to be more serious about broadening the tax net especially by capturing th...
ABCON Says Unified Exchange Rate Will Attract $25bn Diaspora Remittances
Publication Date: 2020-07-21
According to currency exchange operators, the Federal Government’s move to unify multiple exchange rates in the country will attract over $25bn diaspo...
Access Bank Completes Acquisition Of Kenyan Bank
Publication Date: 2020-07-21
Access Bank Plc on Monday announced the completion of the acquisition of Transnational Bank (Kenya) Plc. The bank, in a notice to the investing public...
CBN Says Healthcare Intervention N26.28bn
Publication Date: 2020-07-21
The Governor of the apex bank, Godwin Emefiele, on Monday said About 20 projects valued at N26.28bn have been funded under the N100bn Central Bank of ...
NNPC Raises August Selling Prices Of Crude Oil
Publication Date: 2020-07-21
The Nigerian National Petroleum Corporation has increased the prices at which two of the country’s major crude oil grades would be sold in August. Acc...
Forex Uncertainty Worries Businesses As CBN Retains 12.5% Interest Rate
Publication Date: 2020-07-21
The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 per cent. The Governor, CBN, Godw...
Fitch Says Nigeria’s Rating Suffers Blow From COVID-19, Oil Shock
Publication Date: 2020-07-21
Fitch Ratings said the coronavirus pandemic and the oil price shock have caused a severe impact on credit rating in Nigeria and some other sub-Saharan...
China Vows Necessary' Measures In Response To UK's Huawei Ban
Publication Date: 2020-07-16
China's Commerce Ministry on Thursday said China will take necessary measures in responses to Britain's "discriminatory" ban on Huawei Technologies ...
EU Top Court Rejects EU-U.S. Data Transfer Tool
Publication Date: 2020-07-16
Europe's top court on Thursday rejected a key EU tool used to transfer Europeans' personal data across the Atlantic for commercial use but upheld the ...
Google Latest US Tech Giant To Invest In India's Jio
Publication Date: 2020-07-16
Google has become the latest US technology giant to invest in Indian conglomerate Reliance Industries' digital business. The Alphabet-owned search eng...
Chinese Economy Bounces Back Into Growth
Publication Date: 2020-07-16
China's economy grew 3.2% in the second quarter following a record slump. The world's second biggest economy saw a sharp decline in the first three mo...
UK Payrolls Shrink By 649,000 Jobs In Lockdown
Publication Date: 2020-07-16
Official figures indicate that the number of workers on UK payrolls has fallen by 649,000 between March and June. The total was not as big as many fea...
Namibia Allows Timber Exports To Resume Under Strict Conditions
Publication Date: 2020-07-16
The Environment and Forestry ministry on Wednesday said Namibia has resumed the transport and export of timber, mostly rosewood, under strict new cond...
Fitch Says South Africa's Not Lowering Debt Could Trigger Downgrade
Publication Date: 2020-07-16
Fitch on Wednesday said a failure by South Africa to lower public debt risks triggering credit downgrades deeper into subinvestment. Debt in Africa’s ...
South Africa Commits To Source Funds For SAA Rescue
Publication Date: 2020-07-16
The public enterprises and finance ministries in a letter to the airline’s administrators seen by Reuters said South Africa’s government has committed...
Amplats Platinum Output Fell 41% In Second Quarter
Publication Date: 2020-07-16
Anglo American Platinum (Amplats)on Thursday said the production of platinum group metal (PGM) fell by 41% or 521,600 ounces in the second quarter bec...
CBN Says Net Foreign Inflow Hit $9.35bn In February
Publication Date: 2020-07-16
The nation’s economy recorded a net foreign exchange inflow of $9.35bn in February. The Central Bank of Nigeria disclosed this in its February monthly...
Transcorp Hotels Seeks Approval To List Additional Shares
Publication Date: 2020-07-16
Transcorp Hotels Plc has submitted an application to the Nigerian Stock Exchange for the approval and listing of a rights issue of 2.66 billion ordina...
eTranzact’s 4.67bn Rights Issue Opens For Subscription
Publication Date: 2020-07-16
ETranzact International Plc’s rights issue of 4.67 billion ordinary shares of N0.50 each, at N1.50 per share on the basis of 10 new ordinary shares fo...
CBN tells National Assembly To Review All Financial Penalties Upwards
Publication Date: 2020-07-16
The Central Bank of Nigeria on Wednesday asked the National Assembly to review all financial penalties and fines upwards in order to align with curren...
NNPC’s Losses Increase by 200%, Hit N30.8bn
Publication Date: 2020-07-16
Latest figures from The Nigerian National Petroleum Corporation on Wednesday showed that the oil firm lost N30.81bn in April 2020, representing over 2...
MTN Begins Trial of e-SIM In Nigeria
Publication Date: 2020-07-16
MTN Nigeria Plc has commenced the trial of embedded SIM services on its network as part of its drive to lead digital transformation, and improve custo...
FEC Approves N12.66tn 2021 Budget
Publication Date: 2020-07-16
The Federal Executive Council on Wednesday approved the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper with N12.66tn budget pro...
­Buhari Calls For Common Position On Asset Recovery
Publication Date: 2020-07-15
President Muhammadu Buhari has urged African leaders to ensure the immediate actualization of the Common African Position on Assets Recovery (CAPAR), ...
Nigeria Reports 571 New COVID-19 Cases
Publication Date: 2020-07-15
Nigeria on Sunday reported five hundred and seventy-one (571) new cases of COVID-19.  This is according to the latest figures released on Sunday night...
PBoC Injects 50 billion Into The Banking System
Publication Date: 2020-07-15
The people Bank of China (PBoC) injected CNY 50 billion into the banking system via reverse repos at an interest rate of 2.2 percent on July 13th. It ...
Oil Prices Dropped on Monday
Publication Date: 2020-07-15
Oil prices dropped on Monday, amid concerns that a record rise in COVID-19 infections could stall global recovery in fuel demand. The WHO Sunday repor...
S&P/ASX 200 Rises 0.76% To 59642
Publication Date: 2020-07-15
The ASX 200 added 45 points or 0.76% to 5964.2 on Monday. Market sentiment was optimistic after Gilead Sciences said its coronavirus treatment candida...
Hungary Bans Travel From Africa, Most Of Asia
Publication Date: 2020-07-15
Hungary’s government on Sunday said it was barring travel from Africa, most of Asia apart from China and Japan, and restricting entry from several Eur...
Libya oil company blames UAE for oil blockade
Publication Date: 2020-07-15
Libya's National Oil Company (NOC) has accused the United Arab Emirates (UAE) of instructing renegade forces to reimpose a blockade of oil exports. Th...
Sudan To Allow Drinking Alcohol For Non-Muslims
Publication Date: 2020-07-15
Sudan justice minister said the country will permit non-Muslims to consume alcohol and strengthen women’s rights, including banning female genital mut...
South Africa Re-Imposes Curfew As Infections Spike
Publication Date: 2020-07-15
South African President Cyril Ramaphosa on Sunday re-imposed a night curfew and suspended alcohol sales as coronavirus infections spiked and the healt...
Zindzi Mandela, daughter of Nelson Mandela, has died
Publication Date: 2020-07-15
The spokesman of the ruling African National Congress (ANC) on Monday said Zindzi Mandela, daughter of former South African president and liberation h...
Nigeria Set To Present Voluntary National Review Report On SDGs To UN
Publication Date: 2020-07-15
The Federal Government of Nigeria is set to present its 2nd Voluntary National Review on the implementation of the Sustainable Development Goals (SDGs...
Lagos Doctors To Begin Warning Strike On Monday
Publication Date: 2020-07-15
Doctors in Lagos State under the aegis of the Medical Guild are set to begin a three-day warning strike from Monday. The Chairman of the guild, Dr Olu...
FG Hands Over National Arts Theatre To CBN For Rehabilitation
Publication Date: 2020-07-15
The Federal Government has officially handed over the National Arts Theatre to the Central Bank of Nigeria’s Bankers’ Committee, with a robust plan to...
South Africa's Banks Consider Ways To Avoid Loan Defaults
Publication Date: 2020-07-10
Industry officials say South African banks are looking at options ranging from debt consolidation to new ways of leveraging equity to avoid defaults w...
South Africa's Rand Retreats As Global Coronavirus Surge
Publication Date: 2020-07-10
South Africa’s rand weakened early on Friday as global sentiment over chances of a quick coronavirus recovery soured, with infections continuing to su...
Africa Shows Potential Of Creating COVID-19 Vaccine
Publication Date: 2020-07-10
A University Professor heading the trials says Africa could have a COVID-19 vaccine in the first quarter of 2021 if human trials underway in South Afr...
TikTok Halts Hong Kong Access After Security Law
Publication Date: 2020-07-10
TikTok has posted on its website that it has halted operations in Hong Kong. The company flagged the move earlier this week after China imposed a new ...
Moody's Projects UK Economy Will Slump Over 10% This Year
Publication Date: 2020-07-10
Moody's rating agency has warned that Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year. In a report on Fr...
China’s Stock Fell By 1.8%
Publication Date: 2020-07-10
Shares in China fell 1.8% today from a five-year high, as state media discouraged retail investors from chasing the market higher. MSCI’s broadest ind...
Sudan Replaces Finance, Foreign And Energy Ministers In Sweeping Reshuffle
Publication Date: 2020-07-10
Sudan’s prime minister, Abdalla Hamdok, replaced the finance, foreign, energy and health ministers and three other senior cabinet post-holders on Thur...
Air Namibia Begins Temporal Operation Of Commercial Flights
Publication Date: 2020-07-10
Air Namibia says it will be allowed to temporarily operate commercial flights after a court late on Wednesday suspended the cancellation of its air li...
Zambia Copper Production Rises To 342,734 Tonnes
Publication Date: 2020-07-10
Zambia's ministry of mines says the nation’s copper production increased to 342,734 tonnes in the first five months of this year, from 330,024 tonnes ...
U.N Says Pangolins Trafficking Overtakes Illegal Ivory Trade
Publication Date: 2020-07-10
A U.N report on wildlife crime says illegal global trade in ivory has shrunk while the trafficking of pangolins has soared. The report, released on Fr...
Botswana Begins Rationing Fuel
Publication Date: 2020-07-10
Botswana has started rationing fuel after an announcement on Thursday by President Mokgweetsi. The president said the move was part of efforts to ease...
Ghana’s Medical Group Warns Of Overwhelming Heath Sector
Publication Date: 2020-07-10
National medical groups in Ghana have warned that the coronavirus epidemic risks overwhelming the country’s health sector if the government does not t...
IEA Increases 2020 Oil Demand Forecast
Publication Date: 2020-07-10
The International Energy Agency has increased its 2020 oil demand forecast on Friday. The agency however warned that the spread of COVID-19 posed a ri...
MAN Seeks Exemption For Outstanding Debts
Publication Date: 2020-07-10
The Manufacturers Association of Nigeria has appealed to the Central Bank of Nigeria to exempt outstanding credit commitments to foreign suppliers of ...
Okonjo-Iweala Optimistic Of Landing WTO DG Job
Publication Date: 2020-07-10
Nigeria's Former Finance Minister, Ngozi Okonjo-Iweala, has expressed optimism about becoming the Director-General of the World Trade Organization. O...
Nigerian Government Says No Going Back On Removal Of Petrol Subsidy
Publication Date: 2020-07-10
The Minister of State for Petroleum Resources, Timipre Sylva, says the Federal Government had reached a conclusion that it could no longer bear the bu...
Nigeria’s Agriculture Sector Grew By 2.2%
Publication Date: 2020-07-10
The latest national accounts have shown that Nigeria's agriculture sector grew by 2.2% year-on-year in Q1 2020. This is compared with 2.5% recorded in...
Nigeria's Excess Crude Account Held $72.41 Million
Publication Date: 2020-07-10
Nigeria’s finance minister, Zainab Ahmed, says the country's excess crude account held $72.41 million as of July 7. Ahmed gave the figure during a mee...
Nigerian President Suspends Acting EFFC Chairman
Publication Date: 2020-07-10
President Buhari has approved the suspension of the acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu. The Attorney-Genera...
President Buhari Signs Revised 2020 Budget Into Law
Publication Date: 2020-07-10
Nigeria’s President, Muhammadu Buhari, has signed into law the 10.8 trillion naira revised 2020 budget passed by lawmakers last month. The revised bud...
Ugandan Apex Bank Moves to Adopt Interest-Capping Policy
Publication Date: 2020-07-09
According to a letter for the governor of Uganda’s central Bank (BoU), the bank has threatened to stop the interest that commercial banks can charge b...
U.S., Kenya Formally Begin Trade Negotiation
Publication Date: 2020-07-09
Kenya and the United States formally launched negotiations on Wednesday for a bilateral trade pact that the two economies hope could serve as a model ...
Aston Martin's First SUV Rolls Off Production Line
Publication Date: 2020-07-09
Aston Martin 's first sport utility vehicle rolled off the production line on Thursday, key to hopes of a turnaround at the luxury carmaker which has ...
Industrial Giants Seek Green Fuel From Solar Power
Publication Date: 2020-07-09
Two French industrial giants say they’ve found the right project to rapidly scale up the nascent industry as the European Union launches a new push to...
Australia Suspends Hong Kong Extradition Treaty
Publication Date: 2020-07-09
Australia has suspended its extradition treaty with Hong Kong in response to fears over a new national security law imposed by China. Prime Minister S...
South African Airways to offer training for up to 1,000 staff
Publication Date: 2020-07-09
South African Airways (SAA) will provide a year’s training for up to 1,000 employees, revisions to its restructuring plan show, in a concession to tra...
Uganda Growth To Sink As Low As 0.4% This Year
Publication Date: 2020-07-09
The World Bank said Ugandan economic growth is set to plunge to as low as 0.4% in 2020 from 5.6% last year as the coronavirus crisis batters the east ...
South Sudan's Economy Seeks Reviving Plan
Publication Date: 2020-07-09
The governor of the Bank of South Sudan has warned that the coronavirus pandemic means the country needs to find a "plan B" for making money. The gl...
Egypt's Annual Headline Inflation Rises To 5.6% In June
Publication Date: 2020-07-09
State statistics agency CAPMAS on Thursday said Egypt’s annual urban consumer price inflation increased to 5.6% in June from 4.7% in May. The agency s...
South Africa's Rand Edges Lower Ahead Of Manufacturing Data
Publication Date: 2020-07-09
South Africa’s rand backtracked early on Thursday after gaining ground in the previous session as investors opted to take profits ahead of local manuf...
Malawi Appoints Wilson Banda As New Central Bank Governor
Publication Date: 2020-07-09
A government statement on Wednesday said Malawi’s new President Lazarus Chakwera has appointed Wilson Banda, a former central bank official, as its ne...
Total Secures $15.8 Bln In Funding For Mozambique Gas Project
Publication Date: 2020-07-09
According to South African lender FirstRand’s local unit, FNB Mozambique, French oil major Total has secured $15.8 billion in funding for its massive ...
Federal Governmnt Signs MoU On Ajaokuta Port
Publication Date: 2020-07-09
The Federal Government has signed a Memorandum of Understanding with Sealink Promotional Company Limited on the use of Ajaokuta jetty landing port. It...
Naira Trades At N381/$
Publication Date: 2020-07-09
Reuters reported on Wednesday that the naira resumed trading on the official market at 381 to the dollar after no quotes for two straight sessions, as...
CBN Says Currency In Circulation Dropped To N2.29tn
Publication Date: 2020-07-09
the latest figures from the Central Bank of Nigeria on Wednesday showed that Currency in circulation dropped by N52.5bn from N2.35tn at the end of May...
CITN Seeks Tax Professionals in Government Ministries
Publication Date: 2020-07-09
The Chartered Institute of Taxation of Nigeria has said it will continue to create opportunities for its members and enlighten the government on the n...
Tesla China Sold 14,954 Model 3 Vehicles In June
Publication Date: 2020-07-08
According to the China Passenger Car Association (CPCA), U.S. electric vehicle maker Tesla Inc sold 14,954 Shanghai-made Model 3 vehicles in China in ...
Nokia Shares Fall On Concerns Over Potential Loss Of Verizon Business
Publication Date: 2020-07-08
Shares in Nokia fell up to 8% in Wednesday trade on concerns that the Finnish company was losing the business of its key client Verizon in the United ...
Angola Agrees To Comply Fully With Oil Cuts After OPEC Pressure
Publication Date: 2020-07-08
According to OPEC Sources, Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduct...
South Africa Faces Battle To Rein In Spending
Publication Date: 2020-07-08
Ratings agency Fitch on Tuesday said South Africa’s plans to rein in government spending will be hard to implement due to low economic growth, adding ...
South Sudan's Central Bank Cuts Benchmark Interest Rate To 10%
Publication Date: 2020-07-08
South Sudan’s central bank said it cut its benchmark interest rate to 10% from 13%, as part of efforts to mitigate the effects of the coronavirus outb...
Ivory Coast's 2020 Growth Sliding To 0.8% Due To Pandemic
Publication Date: 2020-07-08
Finance Minister Adama Coulibaly said Ivory Coast’s gross domestic product growth is expected to slow to 0.8% in 2020 compared to a previous forecast ...
South Africa's Rand Edges Firmer In Cautious Early Trade
Publication Date: 2020-07-08
South Africa’s rand edged firmer in tentative early trade on Wednesday, as investors weighed a surge in coronavirus infections in key global centres a...
AfDB Says Africa To Rebound From Pandemic Slump In 2021 Amidst Damage
Publication Date: 2020-07-08
The African Development Bank (AfDB) on Tuesday said Africa is expected to partially rebound next year from a pandemic-induced economic slump, but it c...
GIADEC Will Ensure Maximum Gains from Bauxite Mining
Publication Date: 2020-07-08
Ghana’s Ambassador to China, Edward Boateng, has assured that due process is being followed by the Ghana Integrated Aluminium Development Corporation,...
FIRS Extends Tax Debt Payments To August 31
Publication Date: 2020-07-08
The Federal Inland Revenue Service (FIRS) has extended the closing date of tax debt payments in the country. In a statement issued on Wednesday by FIR...
Reps Summon NNPC, NLNG Over Alleged Illegal $1.05bn Withdrawals
Publication Date: 2020-07-08
The House of Representatives has resolved to investigate the alleged illegal withdrawal of funds from the Nigerian Liquefied Natural Gas Limited amoun...
NNPC Earns N192.4bn From Petrol, Kerosene, Diesel Sale
Publication Date: 2020-07-08
The Nigerian National Petroleum Corporation on Tuesday said it posted a total revenue of N192.4bn from the sale of petrol, kerosene and diesel in the ...
AfDB Says COVID-19’ll Cost Nigeria, Togo, Others $236.7bn GDP
Publication Date: 2020-07-08
The African Development Bank on Tuesday said the outbreak of coronavirus in Africa could cost Nigeria, Togo and other countries on the continent $236....
China Reversing Nigeria’s Infrastructural Deficit
Publication Date: 2020-07-08
President Muhammadu Buhari on Tuesday praised China’s contributions towards the reversal of infrastructure deficit in Nigeria. He said such contributi...
NESG Says FG, States, LGs Should Publish Revenue Data
Publication Date: 2020-07-08
The Nigerian Economic Summit Group has asked the Federal Government, state and local governments to publish data on revenue collection annually in ord...
US Tech Giants Resist China Censors Of Hong Kong Internet,
Publication Date: 2020-07-07
China has unveiled new powers to censor Hong Kong’s internet and access user data using its feared national security law but US tech giants have put u...
Samsung Electronics Forecasts Profits Jump Despite Virus
Publication Date: 2020-07-07
Samsung Electronics forecast a 23-percent rise in second-quarter operating profit Tuesday, with strong demand for memory chips and displays overcoming...
TikTok To Exit Hong Kong Very Soon
Publication Date: 2020-07-07
TikTok has said it will quit Hong Kong after China imposed a new security law on the city. A spokesman told the BBC that due to the recent events, the...
South African Rand Slides As Coronavirus Infection Rise
Publication Date: 2020-07-07
South Africa’s rand weakened in early trade on Tuesday as worries over surges in coronavirus infections reactivated investor concerns about the econom...
South African Central Bank Reduces Bond Purchases To 5 Bln Rand In June
Publication Date: 2020-07-07
Data on Thursday showed that the South African central bank reduced its government bond purchases to 5 billion rand ($292.64 million) in June, half th...
BOST Closes Down Head Office As 46 Staff Test Positive For COVID-19
Publication Date: 2020-07-07
The Bulk Oil Storage and Transportation Company Limited (BOST), has closed down its head office at Dzorwulu after 46 employees tested positive for the...
Ghanaian Exporters Must Take Advantage Of China’s Market
Publication Date: 2020-07-07
Ghana’s Ambassador to China, Edward Boateng, has stated that various opportunities are available in China for Ghanaian Exporters to take advantage of ...
Ghana’s Aviation Ministry Says Kotoka Int’l Airport Not Sold But Seeks Partnering For Expansion
Publication Date: 2020-07-07
The Ministry of Aviation has dismissed reports that it has concluded processes to cede the management of Kotoka International Airport to a foreign com...
CBN Says $11.5bn Injected Into Forex Market In Q1
Publication Date: 2020-07-07
The Central Bank of Nigeria injected $11.5bn foreign exchange into the economy in the first three months of 2020. Latest figures from the CBN on the s...
CBN Debits Banks N122bn, Moves To Unify Exchange Rates
Publication Date: 2020-07-07
The Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency at a retail auction on Fri...
Federal Government Constitutes COVID-19 Protocols Enforcement Team
Publication Date: 2020-07-07
The Federal Government on Monday said it had positioned enforcement teams within and outside airport terminals to enforce all safety protocols against...
Federal Government Writes Off N4.2bn Debt For Radio, TV Stations
Publication Date: 2020-07-07
The Federal Government has decided to write off 60 per cent of the N7bn owed by radio and television stations in licensing and renewal fees. The gover...
Asia's Equity Valuations Hit 10-1/2-Year High In June
Publication Date: 2020-07-06
The valuation of Asian shares surged to a 10-1/2-year high in June, tracking a rally in global stocks, as upbeat U.S. and China data renewed hopes of ...
Fujitsu Announces Permanent Work-From-Home Plan
Publication Date: 2020-07-06
Technology firm Fujitsu has said it will halve its office space in Japan as it adapts to the new normal of the coronavirus pandemic. It said the Work ...
UK Government Weighs Up UK Ban Of Chinese Firm's Products
Publication Date: 2020-07-06
The government has received a report into Huawei that is likely to change its policy over the Chinese firm's role in the UK's telecoms networks. Digit...
Lloyds Boss António Horta-Osório To Step Down Next Year
Publication Date: 2020-07-06
Lloyds Banking Group chief executive António Horta-Osório will step down next year after spending a decade at the helm. Mr Horta-Osório said he had "...
Sasol Gives Up Licence To Seek Offshore Gas In Mozambique
Publication Date: 2020-07-06
South African petrochemicals giant Sasol Ltd on Sunday said it has opted to give up its licence to explore for gas off the Mozambique coast, the compa...
South Africa Rand Rise As Risk Appetite Revives
Publication Date: 2020-07-06
South Africa’s rand gained early on Monday, as the dollar was dragged down by a steady rise of coronavirus infections in the United States. At 0630 GM...
Morocco's Economy To Contract 13.8% In Q2, 4.6% In Q3
Publication Date: 2020-07-06
The state planning agency on Sunday said Morocco’s economy is expected to contract by 13.8% in the second quarter under the impact of the coronavirus ...
Kenya Airways To Lay Off Staff, Reduce Network And Assets
Publication Date: 2020-07-06
The Chief executive of Kenya Airways in an internal memo seen by Reuters said Kenya Airways will lay off an unspecified number of workers, reduce its ...
Economist Urges Bank Of Ghana To Extend COVID-19 Measures To Help Businesses
Publication Date: 2020-07-06
Economist, Adu Owusu Sakodie, has suggested that the Bank of Ghana extends its interventions introduced three months ago to support businesses in the ...
Sub-Saharan Africa’s Economy To Shrink By 3.2% In 2020
Publication Date: 2020-07-06
Data released by the International Monetary Fund, IMF, in a revised Regional Economic Outlook (REO) forecast for 2020 indicates that countries within ...
Ngige Approved N3.4bn NSITF Training Fund
Publication Date: 2020-07-06
The embattled former management of the Nigeria Social Insurance Trust Fund has said all training, contracts and rehabilitation it carried out received...
Federal Government Appoints And Redeploys NNPC Top Management Staff
Publication Date: 2020-07-06
The Federal Government has carried out some changes in the top management of the Nigerian National Petroleum Corporation. It made new appointments and...
Reps Summon Banks Over $30bn Forex Racketeering
Publication Date: 2020-07-06
The Joint House of Representatives committees on finance; banking and currency will begin an investigative hearing into an alleged forex racketeering ...
Lagos, Rivers Lead As States Domestic Debts Hit N4.1tn
Publication Date: 2020-07-06
The total domestic debts for the 36 states of federation and the Federal Capital Territory stood at N4.1tn as of the end of March, 2020, the Debt Mana...
GM's China Sales Drop 5% In Second Quarter
Publication Date: 2020-07-03
General Motors Co’s vehicle sales in China dropped 5.3% between April and June from the corresponding period last year, underperforming the industry a...
CEO Promises To Eradicate Toxic Behaviors At Ubisoft
Publication Date: 2020-07-03
The head of Ubisoft has promised a structural shift to eliminate toxic behaviour following allegations of sexual assault and harassment by managers at...
Twitter Drops Offensive Language
Publication Date: 2020-07-03
Social media platform Twitter is dropping the terms master, slave and blacklist in favour of more inclusive language. The terms are frequently used in...
U.S Treasury Re-Examine Probe On AfDB President
Publication Date: 2020-07-03
U.S. Treasury Secretary, Steven Mnuchin, has welcomed a decision by the African Development Bank to re-examine a probe into the AfDB's president that ...
Portuguese Government Takes Control Of Stake In Efacec
Publication Date: 2020-07-03
The Portuguese government has taken control of a stake held by Angolan investor Isabel dos Santos in Efacec Power Solutions SGPS SA as it tries to hel...
Fastjet Plc Suspends Commercial flights
Publication Date: 2020-07-03
Low-cost carrier Fastjet Plc says it is suspending commercial flights in South Africa and Zimbabwe due to the coronavirus pandemic, jeopardizing negot...
Pandemic Costs Africa Travel, Tourism Almost $55 Bln
Publication Date: 2020-07-03
The African Union commissioner for infrastructure and energy, Amani Abou-Zeid, on Thursday, said African countries have lost almost $55 billion in tra...
South Africa's National Treasury Says No Plan To Bailout SAA Airline
Publication Date: 2020-07-03
South Africa’s National Treasury on Friday said there was no further action planned to bailout struggling national airline SAA except to settle guaran...
South African Private Sector Shrinks
Publication Date: 2020-07-03
A survey has shown South African private sector activity shrunk much less quickly in June. Markit’s Purchasing Managers’ Index rose to 42.5 in June fr...
South African Rand Opens Stronger After Positive Data
Publication Date: 2020-07-03
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Institute for Energy Security Says Crude Price Fluctuations Reduced 2019 Oil Revenue
Publication Date: 2020-07-03
The Institute for Energy Security says the drop in Ghana’s oil revenue in 2019 could be attributed to the movement of crude prices on the world market...
Ghana’s Minister Resigns For Breaching Coronavirus Measures
Publication Date: 2020-07-03
Ghana’s deputy trade and industry minister Carlos Kingsley Ahenkorah has resigned for violating coronavirus self-isolation measures after testing posi...
IATA Says Nigerian Airlines Lost $2.09bn In Two Months
Publication Date: 2020-07-03
The International Air Transport Association said Nigerian airlines lost $2.09bn in April and June. IATA, in its report, titled, Quarantine measures th...
Petrol Imports Rise To 5.32 Billion Litres In Q1
Publication Date: 2020-07-03
The National Bureau of Statistics said the volume of petrol imported into the country in the first three months of the year rose by 9.24 per cent, com...
Central Bank of Nigeria Says Foreign Reserves Fell By $373.23m In June
Publication Date: 2020-07-03
Latest figures from the Central Bank of Nigeria on Thursday showed that the country’s foreign reserves fell by $373.23m from $36.57bn on June 1 to $36...
Nigeria’s Debt Profile Hits N28.63tn
Publication Date: 2020-07-03
The Debt Management Office on Thursday announced that the total public debt portfolio of Nigeria has risen to N28.63tn. The DMO explained that the cou...
Morocco’s Trade Deficit Narrows 12% YoY
Publication Date: 2020-07-02
Foreign exchange regulator on Wednesday said Morocco’s trade deficit shrank by 12% to 73.7 billion dirhams ($7.58 billion) in the first five months of...
US Passes Sanctions As Nations Condemn Hong Kong’s New Law
Publication Date: 2020-07-02
The US House of Representatives has approved new Hong Kong-related sanctions, after Beijing imposed a security law that was condemned by countries aro...
Lego Pulls Ads On Facebook Over Hate Speech
Publication Date: 2020-07-02
Lego has become the latest big name to join an advertising boycott on social-media platforms, saying urgent action is needed to end hate speech, discr...
Tesla Replaces Toyota As World's Most Valuable Carmaker
Publication Date: 2020-07-02
Tesla has become the world's most valuable carmaker, overtaking Japan's Toyota, after its stock hit a record high. Shares in the electric carmaker tou...
France Recovered 12 Bln Euros In Taxes Last Year
Publication Date: 2020-07-02
France Budget Minister Gerald Darmanin on Wednesday via Twitter said French tax investigators helped the state recover almost 12 billion euros in 2019...
Mauritius Investigates Alleged Round-Tripping Linked To Wirecard AG
Publication Date: 2020-07-02
Mauritius on Wednesday said Mauritius’s central bank and Financial Services Commission have started a joint investigation into alleged round-tripping ...
Big South African Insurers Face $232 Mln In Claims From 500 Virus-Hit Firms
Publication Date: 2020-07-02
The firm representing the businesses has calculated that Virus-related claims from just over 500 small South African firms battling insurers who have ...
South Africa's Current Account Balance Swings To A Surplus In Q1
Publication Date: 2020-07-02
South Africa’s central bank data on Thursday said the country’s current account balance swung to a surplus of 1.3% of gross domestic product (GDP) in ...
Additional Borrowing To Finance Expenditure Risky For Ghana’s Economy
Publication Date: 2020-07-02
An Economist, Dr. Adu Owusu Sarkodie, says the Finance Minister, Ken Ofori-Atta should be able to outline the progress made so far with the allocation...
Oando Praises NNPC Over AKK Project, Others
Publication Date: 2020-07-02
Oando Plc has commended the Nigerian National Petroleum Corporation for spearheading the Ajaokuta-Kaduna-Kano Gas Pipeline Project and others aimed at...
Chartered Institute of Bankers of Nigeria Reschedules April Exams
Publication Date: 2020-07-02
The Chartered Institute of Bankers of Nigeria says it has rescheduled its April diet examinations to hold along with the October diet examinations. A ...
OPEC Oil Production Hits 20-Year Low Amid Cuts
Publication Date: 2020-07-02
A survey by Reuters found that the Organisation of Petroleum Exporting Countries saw its oil output hit the lowest in two decades in June as Saudi Ara...
Moody Says Nigerian Banks’ Forex Shortage To Hit $5bn
Publication Date: 2020-07-02
Moody’s Investors Service on Wednesday said Nigerian banks’ foreign currency funding gap will rise to $5bn over the current low oil prices, volatile f...
Power Firms Seeks Acquisition Debts, CBN Loans Restructured
Publication Date: 2020-07-02
The core investors in the Discos are looking to restructure the loans advanced to them by banks for the acquisition of the assets. The Discos also wan...
Senate Summons Ahmed, Emefiele Over Expatriate Tax Evasion
Publication Date: 2020-07-02
The Senate on Wednesday summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Governor of the Central Bank of Nigeria,...
Federal Government Increases Fuel Pump Price To N143
Publication Date: 2020-07-02
The Federal Government has increased the pump price of Premium Motor Spirit, also known as petrol from N140.80 to N143.80 per litre. Executive Secreta...
Federal Government Announces Resumption Of Domestic Flights
Publication Date: 2020-07-02
The Federal Government has announced the resumption of domestic flights in the country. The Minister of Aviation, Hadi Sirika, announced this in a twe...
Geely's Volvo Announces Its Biggest Ever Recall Over Seat Belt Cable
Publication Date: 2020-07-01
Volvo Cars on Wednesday said it was recalling nearly 2.2 million cars built between 2006 and 2019 to address a potential issue with cables attached to...
DHL Temporarily Suspends Chinese Import Shipments To India
Publication Date: 2020-07-01
German logistics company DHL on Wednesday said it has temporarily suspended picking up import shipments from China to India, after border tensions bet...
European Central Bank Lowers Bar For Bank Mergers
Publication Date: 2020-07-01
The European Central Bank is lowering the bar for bank mergers in the euro zone, hoping to encourage an elusive wave of consolidation in a sector plag...
Adidas Human Resources Boss Quits Amid Racism Row
Publication Date: 2020-07-01
The head of human resources at sportswear giant Adidas has resigned amid a row over the firm's corporate culture and lack of diversity. Karen Parkin a...
Aviva And Intercontinental Hotels Group Pause Ads on Facebook
Publication Date: 2020-07-01
Two leading UK firms, the insurer Aviva and the Intercontinental Hotels Group (IHG) have become the latest to put a hold on advertising on Facebook. T...
Sub-Sahara African Debt Burdens Rising Faster
Publication Date: 2020-07-01
Ratings agency Fitch on Tuesday warned that Government debt burdens across sub-Saharan Africa are rising at a faster pace and to higher levels than el...
BoG Accepts Less Than 50% Of Bids In Last Dollar Auction In June
Publication Date: 2020-07-01
The Bank of Ghana in its last auction of forex in June, received 33% of the total amount of dollars dealers bid for. The total bids were also about th...
Kenya's Economic Growth Slows Down
Publication Date: 2020-07-01
Kenya’s economy grew by 4.9% in the first three months of this year slowing down from its previous growth of 5.5% same period last year. According to ...
CBN probes forex dealers for imports regulations violation
Publication Date: 2020-07-01
The Central Bank of Nigeria has said it is probing some dealers for allegedly procuring foreign currencies for the purpose of importing items, which h...
Banks’ Non-Performing Loan Ratio Drops To 6.6%
Publication Date: 2020-07-01
According to the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, the non-performing loan ratio of the Nigerian banking sector dropped to ...
Chinese Bank, Sinosure To Fund $2.6bn Ajaokuta-Kano Pipeline
Publication Date: 2020-07-01
The Federal Government on Tuesday said the Bank of China and Sinosure, a Chinese export and credit insurance corporation, are to fund the $2.6bn Ajaok...
National Assembly, Discos Ask FG To Subsidise Electricity Consumption
Publication Date: 2020-07-01
The National Assembly and electricity distribution companies have asked the Federal Government to subsidise electricity consumption. The Discos on Mon...
Nigeria, Other African Oil Exporters To Lose $34bn
Publication Date: 2020-07-01
The impact of the COVID-19 pandemic is estimated to cost Nigeria and other oil exporters in Africa a total of about $34bn in revenue. According to the...
FG May Order DSTV To Charge Per View
Publication Date: 2020-07-01
The Federal Government has disclosed plans to force the Digital Satellite Television, owned by MultiChoice, a South Africa-based cable service provide...
NCAA Says Airports Will Reopen When Safe
Publication Date: 2020-07-01
The Nigerian Civil Aviation Authority on Tuesday said the approval by the Federal Government for the resumption of domestic flights will only be given...
FIRS Says N66bn Generated As Stamp Duty Revenue Since January
Publication Date: 2020-07-01
A total of N66 billion has been generated as stamp duty revenue by the Federal Government between January and June 2020. The Chairman of the Federal I...
Lawan Says No More Hike In Electricity Tariffs Until 2021
Publication Date: 2020-06-30
The leadership of the National Assembly has convinced the Distribution Companies (DISCOs) in the country to defer the hike in electricity tariffs sche...
CBN Plans Increased Local Production In Agric Sector
Publication Date: 2020-06-30
The Central Bank of Nigeria said it is stimulating local production in the agriculture business to enhance growth and boost employment in the country....
Ajaokuta-Kano Pipeline to Be Completed In Two Years
Publication Date: 2020-06-30
The Nigerian National Petroleum Corporation targets to complete the $2.59bn Ajaokuta-Kaduna-Kano gas pipeline project in 24 months. It said the constr...
MTN Invests N247m In Fight Against Substance Abuse
Publication Date: 2020-06-30
MTN Foundation says it has invested an estimated sum of N247m in anti-substance abuse campaign and impacted 13.5 million people. The Foundation in a s...
AMCON Takes Over Polema Industries Assets
Publication Date: 2020-06-30
The Asset Management Corporation of Nigeria has taken over a factory and other assets belonging to Polema Industries Limited and its Chief Promoter, C...
IMF Says Nigeria, Ghana, Others Need $110bn
Publication Date: 2020-06-30
The International Monetary Fund on Monday said there was urgent need for international financial support to Nigeria and other Sub-Saharan countries of...
COPEC Insists on Checking Fuel Stations to Protect Consumers
Publication Date: 2020-06-30
The Chamber of Petroleum Consumers, COPEC, has justified its decision to check the amount of fuel dispensed to consumers at various fuel stations. The...
South African Court Sides With Eskom In Clawback Dispute
Publication Date: 2020-06-30
South Africa’s High Court on Monday sided with Eskom in a dispute over the amount energy regulator Nersa allowed the state utility to claw back from c...
South Africa Rand Dips Ahead of GDP Data
Publication Date: 2020-06-30
South Africa’s rand weakened in early trade on Tuesday ahead of a series of data releases, including first quarter economic growth figures, trade and ...
Egypt Discovers Gold Deposit In Southeast
Publication Date: 2020-06-30
The petroleum ministry on Tuesday said Egypt has discovered a gold deposit in the southeast of the country containing more than 1 million ounces. The ...
South Africa Credit Growth Slows To 6.35% Year On Year In May
Publication Date: 2020-06-30
Central bank data on Tuesday showed that Growth in private sector credit in South Africa in May slowed to 6.35% year on year from a revised 7.18% in A...
South Africa's MTN Allows Customers to Use Mobile Money
Publication Date: 2020-06-30
South Africa’s MTN is branching into the online shopping space by providing its customers with the option to pay for online purchases using mobile mon...
South Africa's Naspers Posts 4.5% Fall In Full-Year Profit
Publication Date: 2020-06-30
South African media and e-commerce group Naspers on Monday reported a 4.5% drop in profit for the year to March 31, mainly as a result of investments ...
China Concerned About India Banning Chinese Apps
Publication Date: 2020-06-30
China on Tuesday said it was concerned about India’s decision to ban Chinese mobile apps such as Bytedance’s TikTok and Tencent’s WeChat and was makin...
UK Economy Hit Worse Than First Estimate
Publication Date: 2020-06-30
Official figures showed that the UK economy shrank more than first thought between January and March, contracting 2.2% in the joint largest fall since...
Ban on Wirecard's UK Payments Business Lifted
Publication Date: 2020-06-30
The UK's financial watchdog has lifted restrictions on German payments company Wirecard, allowing it to resume payment activities. The Financial Condu...
Amazon India Scraps Single-Use Plastic in Packaging Across Centers
Publication Date: 2020-06-29
E-commerce giant, Amazon. Com on Monday said its Indian unit of has eliminated all single-use plastic in its packaging across fulfillment centers in t...
Merkel, Macron Meet As Germany Takes On High-Stakes EU Presidency
Publication Date: 2020-06-29
Chancellor Angela Merkel hosts French President Emmanuel Macron for talks on Monday, just days before Germany takes on the rotating presidency of the ...
EU, Britain Intensify Talks On Post-Brexit Future
Publication Date: 2020-06-29
The EU and Britain launch an intense five weeks of negotiations on a deal to define their post-Brexit relations on Monday, with London keen to wrap th...
Starbucks Suspends Social Media Ads Over Hate Speech
Publication Date: 2020-06-29
Starbucks has announced it will suspend advertising on some social media platforms in response to hate speech. The coffee giant joins global brands in...
South African Rand Shows Little Change
Publication Date: 2020-06-29
The South African rand was little changed early on Monday, despite health officials recording a steeper rise in coronavirus infections over the weeken...
BoG Governor Says Low Interest Rates Will Empower Local Banks to Fund Cocoa Purchasing
Publication Date: 2020-06-29
The Governor of the Bank of Ghana, Dr. Ernest Addison, has said reduced domestic interest rates will empower local banks to participate in the cocoa s...
COCOBOD CEO assures Child Labour Eradiction In Cocoa Sector
Publication Date: 2020-06-29
The Chief Executive Officer of Ghana COCOBOD, Joseph Boahen Aidoo, says government has been able to erase the misconception that Ghanaian cocoa farmer...
Private Sector Raises N29bn To Fight COVID-19
Publication Date: 2020-06-29
The private sector Coalition against COVID-19 has raised about N29bn in its fight against the coronavirus pandemic. The Central Bank Governor, Godwin ...
Lagos Pays N93m Death Insurance Claims
Publication Date: 2020-06-29
Lagos State Government said it paid insurance benefits worth N93m to relatives of deceased civil servants in three months. This was disclosed in its r...
PPPRA Insists No Going Back On Petrol Price Control
Publication Date: 2020-06-29
The Petroleum Products Pricing Regulatory Agency on Sunday insisted that it would continue fixing price bands for petrol despite opposition by oil mar...
Nigerians, Americans Banned from Entering into Europe’
Publication Date: 2020-06-29
Nigeria has been excluded from the list of countries whose travelers could be received into Europe when the borders reopen on July 1. Schengenvisainfo...
NIMASA Says 13 Vessels Coming from Five COVID-19 Endemic Nations
Publication Date: 2020-06-29
The Nigerian Maritime Administration and Safety Agency has warned stakeholders about 13 vessels bound for Nigeria from five countries heavily affected...
Onyema Seeks Bailout, Says New Charges Will Raise Airfares
Publication Date: 2020-06-29
The Chief Executive Officer of Air Peace, Allen Onyema, has joined several stakeholders in the aviation sector to seek palliatives to keep airlines af...
Buhari to Inaugurates Ajaokuta-Kano Pipeline Construction
Publication Date: 2020-06-29
President Muhammadu Buhari is set to inaugurate the construction of the Ajaokuta-Kaduna-Kano gas pipeline in Kogi State and in Rigachikun, Kaduna Stat...
Virgin Australia Begins Operation With New US Owner Bain Capital
Publication Date: 2020-06-26
Virgin Australia has been bought by US private equity group Bain Capital after falling into administration due to coronavirus travel restrictions. The...
US Phone Giant Verizon Joins Facebook Ad Boycott
Publication Date: 2020-06-26
US telecoms operator Verizon has become the latest major company to pull advertising from Facebook platforms. The company joins Ben and Jerry's and a ...
Kenya Airways Estimates Coronavirus Revenue Loss at $100 Mln
Publication Date: 2020-06-26
CEO Allan Kilavuka told reporters on Friday that Kenya Airways has lost an estimated $100 million in revenue as a result of the coronavirus pandemic a...
Moody's Says South Africa Unlikely To Stabilise Debt By 2023
Publication Date: 2020-06-26
Ratings agency Moody’s on Thursday said The South African government target to stabilise its ballooning debt by 2023 will be very difficult to achieve...
Djibouti Sets Up Sovereign Wealth Fund, Targets $1.5 Bln In 10 Years
Publication Date: 2020-06-26
Djibouti Government on Thursday said it is setting up a sovereign wealth fund for domestic and regional investment, aiming to fund it to the tune of $...
Zambia Sees 2020 Expenditure Up $1.1 Bln As Kwacha Falls
Publication Date: 2020-06-26
President Edgar Lungu on Thursday said Zambia’s expenditure is expected to rise by approximately 20 billion kwacha ($1.11 billion) this year as the lo...
South Africa's Rand Shows Little Change
Publication Date: 2020-06-26
South Africa’s rand was little changed early on Friday amid surging global coronavirus infections, despite the currency’s staging a recovering after a...
Minister Gives Steel Firms 1-Week To Deal With Environmental Pollution
Publication Date: 2020-06-26
The Minister of Environment, Science, Technology and Innovation, Professor Frimpong Boateng, has given a one-week ultimatum to some steel manufacturin...
BoG Governor Says Setting Prices Of Goods And Services Against The Exchange Rate Illegal
Publication Date: 2020-06-26
The Governor of the Bank of Ghana, BoG, Dr. Ernest Addison, has reiterated that it is illegal to price goods and services in foreign currencies such a...
Federal Government Says Highway Development, Management Will Generate N160bn
Publication Date: 2020-06-26
The Federal Government on Thursday engaged stakeholders from various sectors of the economy for the implementation of its Highway Development and Mana...
HP Pledges To Reduce Plastic Packaging By 75%
Publication Date: 2020-06-26
HP Inc. has announced its commitment to eliminating 75 per cent of single-use plastic packaging by 2025 as part of efforts to reduce its environmental...
Federal Government To Announce Flight Resumption Date Next Week
Publication Date: 2020-06-26
The Federal Government on Thursday said it would announce the date for the reopening of Nigeria’s airspace to commercial flight operations next week. ...
Air Peace Operates 25 Empty Planes to Abuja
Publication Date: 2020-06-26
Air Peace on Thursday announced that it flew all 25 aircraft in its fleet on June 24 to different parts of the country in readiness for the resumption...
Nigeria’s Exports To China, India, Others Hit N1.87tn
Publication Date: 2020-06-26
The National Bureau of Statistics said Commodity exports from Nigeria to China, India, Spain, Netherlands and South Africa in the first quarter of thi...
CBN Says Business Operators Lack Trust In Economy
Publication Date: 2020-06-26
A new report by the Central Bank of Nigeria on Thursday showed Business operators in different sectors showed a lack of trust in the economy in June. ...
Google Introduces Auto-Deleting Data For New Users
Publication Date: 2020-06-25
CEO Sundar Pichai announced that Google has begun auto-deleting new users’ search data and location history on a rolling 18-month basis, as the tech g...
Huawei Loses 5G Bid In Singapore To Nokia, Ericsson
Publication Date: 2020-06-25
Telecom operators said Nokia and Ericsson have been chosen as Singapore’s main 5G network providers, leaving Huawei with only a minor role as the Chin...
Huawei Accused of Been Backed by Chinese Military
Publication Date: 2020-06-25
The US Defense Department has determined that 20 top Chinese firms, including Huawei, are either owned by or backed by the Chinese military. The list,...
Qantas To Cut 6,000 Jobs Due to Pandemic
Publication Date: 2020-06-25
Qantas Airline said it will axe 6,000 jobs as part of its plans to survive the coronavirus pandemic. The cuts equate to about a fifth of the airline's...
Chilean Investment Firm To Buy 50% Stake In South Africa's Sun International
Publication Date: 2020-06-25
Chile’s Nueva Inversiones Pacifico Sur (IPS) said it has made a proposal to Sun International to buy 50.1% of the South African hotel and casino opera...
MTN To Launch 5G Network in South Africa Next Week
Publication Date: 2020-06-25
Mobile operator MTN Group will launch its 5G commercial network in South Africa next week, joining Vodacom Group and Rain in the race to expand fifth-...
South Africa's Rand Weaker After Gloomy Budget
Publication Date: 2020-06-25
South Africa’s rand edged lower in early trade on Thursday, pressured by a budget speech that forecast ballooning debt and a higher government deficit...
South Africa's Harmony Raises $200 Million In Share Sale
Publication Date: 2020-06-25
Harmony Gold on Thursday said it has raised $200 million after issuing more than 60 million new ordinary shares to partly fund its purchase of rival A...
SMEs In Tourism Sector To Benefit From $9m Grant Scheme
Publication Date: 2020-06-25
The Ministry of Tourism, Arts and Culture, has launched a $ 9 million dollar Grant Scheme for Small and Medium Sized Enterprises in the tourism sector...
Bank of Ghana Partners with State Agencies on Prosecutions
Publication Date: 2020-06-25
The Governor of the Bank of Ghana, Dr. Ernest Addison, has expressed some reservations about the processes being used in the prosecution of officials ...
Federal Government Divides NIPOST, Creates Three Subsidiaries
Publication Date: 2020-06-25
The Bureau of Public Enterprises on Wednesday said the Federal Government is dividing the Nigerian Postal Service into three subsidiary companies whic...
Workers Kick Against Salary Cut At NAMA
Publication Date: 2020-06-25
Aviation unions have expressed their displeasure with the Nigerian Airspace Management Agency’s decision to slash the salary of workers in the month o...
­­­­­­­Federal Executive Council Approves N2.3tn Stimulus Plan
Publication Date: 2020-06-25
The Federal Executive Council on Wednesday approved the N2.3tn stimulus plan proposed in the Nigeria Economic Sustainability Plan designed to support ...
NNPC Posts N9.53bn Operational Loss For March
Publication Date: 2020-06-25
The Nigerian National Petroleum Corporation announced a trading deficit of N9.53bn for March 2020, which stood out as the oil firm’s first operational...
Tension At NNPC As PENGASSAN Threatens Strike
Publication Date: 2020-06-25
There was tension at the Nigerian National Petroleum Corporation on Wednesday, prompting the Petroleum and Natural Gas Senior Staff Association of Nig...
IMF Cuts Nigeria’s GDP Forecast
Publication Date: 2020-06-25
The International Monetary Fund has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 per cent. The IMF had in April ...
Ben & Jerry's Joins Facebook Ad Boycott
Publication Date: 2020-06-24
Ben and Jerry's have joined a growing list of firms pulling advertising from Facebook platforms throughout July. It's part of the Stop Hate for Profit...
South Africa's Rand Moves Firmer
Publication Date: 2020-06-24
South Africa’s rand moves firmer early on Wednesday ahead of a much-awaited COVID-19 budget speech by Finance Minister Tito Mboweni, with a return of ...
Sudan Hopes Hangs On Berlin Donor Meeting As Economy Nears Collapse
Publication Date: 2020-06-24
Sudan government is pinning its hopes on a conference of potential donors in Berlin this week with the country’s economy at risk of freefall, hammered...
Zambia's Bondholders Form Group for Debt Talks
Publication Date: 2020-06-24
Ten of Zambia’s international bondholders on Tuesday said they have formed a creditor group ahead of what is expected to be a complex restructuring of...
Zimbabwe Fuel Prices More Than Double
Publication Date: 2020-06-24
Zimbabwe’s energy regulator said the fuel prices will go up by as much as 152% after the government removed a fixed exchange rate in place since March...
South Africa Inflation Rate Near 15 Year Low
Publication Date: 2020-06-24
The annual inflation rate in South Africa fell to 3% in April of 2020 from 4.1% in March and slightly below market expectations of 3.1%, thus remainin...
African Bank Falls To H1 Loss After Taking Charge
Publication Date: 2020-06-24
South African lender African Bank swung to a half-year loss on Wednesday after taking a 550 million-rand ($31.89 million) charge for bad debts. Contro...
South Africa Investors Putting Billions Into Infrastructure Drive
Publication Date: 2020-06-24
A senior official on Tuesday said Investors have made firm commitments to put tens of billions of rand into projects that South Africa’s government ho...
World Bank Lends Morocco $500 Mln To Improve Access To Online Finance
Publication Date: 2020-06-24
The World Bank on Tuesday said it has approved a $500 million loan to help Morocco improve access to online finance and government services for busine...
PIAC Urges Parliament To Restrict GNPC’s Spending On CSR
Publication Date: 2020-06-24
The Public Interest Accountability Committee, PIAC, has reiterated its call on Parliament to put some restrictions on the Ghana National Petroleum Cor...
Buhari Backed by Experts Over ECOWAS Single Currency
Publication Date: 2020-06-24
President Muhammadu Buhari on Tuesday raised concerns over the planned single currency for the Economic Community of West African States. He said the ...
Federal Government To Review Domestic Gas Pricing Framework
Publication Date: 2020-06-24
The Federal Government plans to review the prices of gas consumed across the country. The Minister of State for Petroleum Resources, Timipre Sylva, sa...
IMF Says Nigeria’s Fiscal Crisis Due to Low Revenue
Publication Date: 2020-06-24
The International Monetary Fund said Nigeria’s major fiscal challenge has a very low revenue and not so much of its debt profile. The low revenue, it ...
Reps. Summon Industry Minister Over SON Six-Year Unaudited Accounts
Publication Date: 2020-06-24
The House of Representatives has summoned the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, and the management of the Standards ...
Ford Ranger, Tesla Models Ride High in American-Made Car Index
Publication Date: 2020-06-23
Ford Motor Co.’s new Ranger truck topped a ranking of vehicles that contribute most to the U.S. economy, while three Tesla Inc. models placed in the t...
China launches final satellite in challenge to GPS
Publication Date: 2020-06-23
China has successfully put into orbit the final satellite in its BeiDou-3 navigation system, further advancing the country as a major power in space. ...
Rwanda’s Economy Expected To Grow 2% In 2020, 6.3% In 2021
Publication Date: 2020-06-23
The finance minister of Rwanda on Monday said the country’s economy is expected to grow 2% in 2020, 6.3% in 2021 and 8% in 2022, as he presented the b...
South Africa's Aspen Says It Has Capacity To Meet Demand For Dexamethasone
Publication Date: 2020-06-23
South Africa’s pharmaceutical giant Aspen Pharmacare Holdings Ltd on Monday said the company had sufficient local capacity to produce injections to me...
South Africa's Budget Deficit To Widen Sharply
Publication Date: 2020-06-23
A Reuters poll found that South Africa’s consolidated budget deficit is expected to widen markedly this year, with its National Treasury struggling to...
South African Rand Steady After Brief Sino-U.S. Trade Scare
Publication Date: 2020-06-23
South African rand edged up on Tuesday amid a global recovery of risk-sensitive currencies after U.S. President Donald Trump said the U.S.-China trade...
South Africa's City Lodge to Raise 1.2 Bln Rand Via Rights Issue
Publication Date: 2020-06-23
South Africa’s City Lodge Hotels Ltd on Monday said the hotel chain aimed to raise up to 1.2 billion rand ($69.3 million) via a rights issue to stave ...
Majority of Edcon Creditors Approve Rescue Plan
Publication Date: 2020-06-23
South Africa’s Edcon on Monday said that more that 75% of its creditors have approved a proposed rescue plan that will see the retailer sold in parts ...
COPEC Warns Fuel Prices May Go Up If Exchange Rate Is Not Stabilized
Publication Date: 2020-06-23
The Chamber of Petroleum Consumers, COPEC, has warned that fuel prices at the pumps may go above five Ghana cedis in a few days if measures are not pu...
IES Says Manage Expectations from Oil Proceeds in Mid-Year Budget
Publication Date: 2020-06-23
The Institute of Energy Security, IES, has advised government to benchmark expected revenue from petroleum receipts around 35 dollars per barrel. The ...
Securities Tribunal Canvasses Training For Litigants, Counsel
Publication Date: 2020-06-23
The Investment and Securities Tribunal has called for the development of the capacities of litigants and counsel to effectively address capital market...
Discos Should Be Audited Before Siemens Deal
Publication Date: 2020-06-23
The National Economic Council has said there is an urgent need for technical and financial audits of the electricity distribution companies in the cou...
Virgin Atlantic Resumes Flights From Lagos August 24
Publication Date: 2020-06-23
Virgin Atlantic has announced its intention to resume flights from Lagos to London Heathrow from August 24, 2020. According to a statement by the airl...
Flight Simulation Holds Saturday
Publication Date: 2020-06-23
The Federal Government on Monday said it would carry out a simulation trial of domestic flight operations at the Murtala Muhammed Airport in Lagos on ...
European Stocks Turns Positive.
Publication Date: 2020-06-22
European stocks moved into positive territory after a negative start on Monday, as investors focus on prospects of a quick economic recovery despite a...
Dollar’s Fall from 2 weeks high
Publication Date: 2020-06-22
The dollar index depreciated to 97.3 on Monday from a two-week high of 97.6 on Friday as investors try to shrug off fears of a second wave of coronavi...
Current Outlook of the African Financial Market and the Post Pandemic Expectations - Bola Onadele, CEO FMDQ Group
Publication Date: 2020-06-22
At the just concluded Zimvest Economy Conversation, looking at The Economic Landscape and Investor Preferences in Post-pandemic Africa, The Keynote sp...
Lufthansa shares down as investor battles bailout terms
Publication Date: 2020-06-22
Lufthansa shares slumped 5.7% on Monday morning after CEO Carsten Spohr said the company would seek to avoid a grounding and insolvency in a battle wi...
US China Cold War Bigger Global Threat Than Virus
Publication Date: 2020-06-22
According to influential economist Jeffrey Sachs, the deepening cold war between the US and China will be a bigger worry for the world than coronaviru...
Wirecard Says Missing €1.9bn May Not Exist
Publication Date: 2020-06-22
Scandal-hit payments firm Wirecard has said the €1.9bn (£1.7bn) missing from its accounts simply may not exist. Wirecard's chief executive quit on Fri...
IMF Approves $148 Million Emergency Credit for Guinea
Publication Date: 2020-06-22
The International Monetary Fund (IMF) in a stament said it has approved $148 million in emergency credit to Guinea to bolster the West African country...
New Development Bank Provides South Africa with $1 Bln COVID-19 Loan
Publication Date: 2020-06-22
The National Treasury on Saturday said the New Development Bank established by the BRICS group of emerging nations has approved a $1 billion COVID-19 ...
South Africa Rand Weaker as Budget Risk Raises Second Wave COVID-19 Fears
Publication Date: 2020-06-22
South Africa’s rand weakened early on Monday, reflecting the gloom in global markets as fears of a second wave of coronavirus infections around the wo...
South Africa To Oppose SA Airlink's Bid to Halt SAA Creditors Meeting
Publication Date: 2020-06-22
The South African government on Monday said it planned to oppose an application by regional airline SA Airlink to put South African Airways (SAA) into...
South Africa's Telkom Suspends Dividend for Three Years After Profit Slide
Publication Date: 2020-06-22
South African telecoms provider Telkom suspended dividends for three years on Monday after a 66% slump in full-year earnings it attributed to the coro...
BoG Clean Up Responsible For Banks’ Resilience To COVID-19 Shocks
Publication Date: 2020-06-22
A banking consultant, Nana Otuo Acheampong has said the financial sector cleanup carried out by the Bank of Ghana, is responsible for the resilience o...
Discos Blame Federal Government For Low Customer Metering
Publication Date: 2020-06-22
Power distribution companies on Sunday blamed the high import duty on meters imposed by the Federal Government for the low metering of power users acr...
Nigeria Loses 44,000bpd Of Crude
Publication Date: 2020-06-22
Nigeria has been losing about 44,000 barrels of crude oil daily since Saturday following the shutdown of the Odidi and Batan oil flow stations by prot...
ABCON Says Speculators will Lose Billions On Forex Sales Resumption
Publication Date: 2020-06-22
The Association of Bureau De Change Operators of Nigeria has said that currency speculators will lose huge funds as the Central Bank of Nigeria plans ...
Petrol Scarcity Looms As PENGASSAN, NUPENG Threaten Strike
Publication Date: 2020-06-22
Nigeria may face petrol scarcity as oil workers threatens to withdraw their services nationwide should the Federal Government insist on registering em...
Brent Trades Above $42.5
Publication Date: 2020-06-19
Brent crude jumped more than 2.5% to above $42.5 on Friday, its highest level since March 6th and heading for an over 9% gain in the latest week. Pric...
UK Debt Now Larger Than Size Of Whole Economy
Publication Date: 2020-06-19
The UK's debt is now worth more than its economy after the government borrowed a record amount in May. The £55.2bn figure was nine times higher than i...
Colgate Reviews China's Darlie Brand Amid Race Debate
Publication Date: 2020-06-19
Colgate-Palmolive is reviewing Chinese toothpaste brand Darlie as firms reassess race stereotypes in products. The popular Chinese brand features a ca...
South African Rand Recovers After Sell-Off
Publication Date: 2020-06-19
South Africa’s rand firmed against the U.S. dollar early on Friday, recovering from the previous session’s tumble as global risk sentiment was dented ...
Barrick Gold Debunks Fake News on Sold Lumwana Mine
Publication Date: 2020-06-19
Barrick Gold on Thursday said there is absolutely no truth in a news release circulated on social media in Zambia claiming the gold miner sold its Lum...
South Africa Unions Reject SAA Rescue Plan Over Job Cuts
Publication Date: 2020-06-19
Two South African unions on Friday rejected job cuts proposed to rescue South African Airways, which has cost the government more than a billion dolla...
Liberty Securities & First Atlantic Brokerage Ltd Expelled from GSE Membership
Publication Date: 2020-06-19
The Ghana Stock Exchange has expelled Liberty Securities Limited and First Atlantic Brokerage Limited from the membership of the Exchange. According t...
UNIPASS Rakes In GHS490m In 17 Days
Publication Date: 2020-06-19
The Ghana Revenue Authority, GRA, has reassured freight forwarders that technical challenges that have disrupted the Integrated Customs Management, IC...
Fasola Says 22 Highways To Be Completed In 2020, 2021
Publication Date: 2020-06-19
The Minister of Works and Housing, Babatunde Fashola, on Thursday said the Federal Government will complete 22 major roads in 2020 and 2021. Fashola a...
Federal Government Designates Seven Minerals To Boost Economy
Publication Date: 2020-06-19
The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, says the Federal Government has designated seven of the country’s strategic miner...
MAN Says Reduce Income Tax, Deepen Productivity
Publication Date: 2020-06-19
Experts have called on the government to reduce the personal income tax of Nigerians in order to increase their purchasing power. The acting Director-...
AMCON Seizes Doggi Group’s Assets Over N440m Debt
Publication Date: 2020-06-19
The Asset Management Corporation of Nigeria has taken over assets belonging to the Chief Promoter of Doggi Group Limited, Alhaji Umaru Abdullahi, over...
South Africa's Rand Steady, Stocks Open Lower
Publication Date: 2020-06-18
South Africa’s rand held steady against the U.S. dollar early on Thursday, after President Cyril Ramaphosa announced further easing of the coronavirus...
Qantas Cancels Most Overseas Flights Until October
Publication Date: 2020-06-18
Qantas has cancelled all international flights until late October except for those to New Zealand. The news comes as the Australian government said it...
Tunisia's Economy Could Shrink By As Much As 7% This Year
Publication Date: 2020-06-18
Tunisia’s investment minister on Wednesday said the country’s economy could shrink by up to 7% this year because of the effects of the COVID-19 pandem...
South African Retailer TFG Looks to Raise $229 Mln Via Rights Issue
Publication Date: 2020-06-18
South African retailer TFG on Thursday said it plans to raise 3.95 billion rand ($229.66 million) through a right offer to lower debt and protect its ...
Sasol Revamp To Cut Jobs
Publication Date: 2020-06-18
South Africa’s Sasol Ltd on Thursday said it palns to cut jobs and end West African oil operations as part of a business revamp, adding it had also ag...
South Africa Non-Performing Bank Loans Could Hit 10% On COVID
Publication Date: 2020-06-18
The banking association’s managing director Bongiwe Kunene said on a conference call on Thursday that Non-performing loans could hit 10% in South Afri...
South Africa's Amplats Targets Mines At 75-80% Capacity By End-Year
Publication Date: 2020-06-18
CEO Natascha Viljoen on Thursday said Anglo American Platinum expects to bring its mining production back up to 75% to 80% of capacity by the end of t...
Zambia Mining Revenues Drop 30% Due To COVID-19
Publication Date: 2020-06-18
The Chamber of Mines on Thursday said Mining companies in Zambia, Africa’s No.2 copper producer, have suffered a 30% drop in revenue over the three mo...
Chamber of Mines Adopts Innovative Ways To Sustain Gold Production
Publication Date: 2020-06-18
The Ghana Chamber of Mines says it is adopting innovative approaches to sustain gold production to rake in more revenue from export. Gold prices saw a...
Lagos Pledges N5bn Bailout For SMEs
Publication Date: 2020-06-18
The Governor of Lagos State, Babajide Sanwo-Olu, said that the state is introducing measures to absorb the shocking effects of the COVID-19 pandemic o...
Nigeria, Others Expect Oil Market To Recover In H2
Publication Date: 2020-06-18
Nigeria and other members of the Organisation of Petroleum Exporting Countries have said the global oil market will recover in the second half of this...
Inflation Climbed Higher In May, Hit 12.40%
Publication Date: 2020-06-18
Nigeria’s rate of inflation, which is measured by the Consumer Price Index, rose to 12.40 per cent in the month of May, the highest ever recorded in t...
Federal Government Unveils Fresh Plans on Concession Of 10 Highways
Publication Date: 2020-06-18
The Federal Government has perfected a plan to concession 10 major highways in the country. The Minister of Works, Babatunde Fashola, stated this on W...
Fuel Consumption, Smuggling Gulp 54 Million Litres Per Day
Publication Date: 2020-06-18
The Nigerian National Petroleum Corporation said Nigerians and neighbouring countries that benefit from smuggling consume 54 million litres of petrol....
Naira Slumps To 452
Publication Date: 2020-06-18
The dollar exchanged for N452 at the parallel market on Wednesday over speculations by operators in the market and the effect of the country’s rising ...
China's JD.Com Raises Almost $4bn In Hong Kong Share Sale
Publication Date: 2020-06-18
China's second largest online retailer JD.com has raised almost $4bn (£3.2bn) after making its Hong Kong Stock Exchange debut on Thursday. Its shares ...
US-China Trade War Takes Toll On Their Global Competitiveness
Publication Date: 2020-06-17
The world's two biggest economies have become less competitive due to their ongoing trade war, which seems to have no short-term resolution in sight. ...
Facebook To Let Users Turn Off Political Adverts
Publication Date: 2020-06-17
Facebook boss Mark Zuckerberg says users will be able to turn off political adverts on the social network in the run-up to the 2020 US election. In a ...
U.S. Bank Profits Plunge 70% On Coronavirus Loss
Publication Date: 2020-06-17
According to data from a banking regulator, U.S. bank profits fell by 69.6% to $18.5 billion in the first quarter of 2020 from the year prior as banks...
South Africa's Rand Firms But Gains Limited By Virus Surge
Publication Date: 2020-06-17
South Africa’s rand firmed against the dollar early on Wednesday, but traders said gains could be limited as concerns about a resurgence of global cor...
South Africa's Tongaat To Sell eswatini Sugarcane Farm For $21 Mln
Publication Date: 2020-06-17
South African indebted sugar producer Tongaat Hulett on Wednesday said it would sell a sugarcane farm in eSwatini to the country’s public pension fund...
EgyptAir Seeking $185 Mln From State Banks To Scale Crisis
Publication Date: 2020-06-17
The chairman of the state holding company that owns the airline on Tuesday said Egypt’s national carrier EgyptAir is seeking a 3 billion Egyptian poun...
South African Airways Rescue Plan To Be Costly
Publication Date: 2020-06-17
According to a long-delayed rescue plan, the South African government would need to find at least 10 billion rand ($580 million) in new bailout funds ...
Banks Withstand COVID-19 Shocks
Publication Date: 2020-06-17
A new report by the Bank of Ghana has established that even though banks have been resilient to shocks amidst the Covid-19 pandemic, the same cannot b...
GCAA Loses 95% Revenue Due To Airport Closure
Publication Date: 2020-06-17
The Ghana Civil Aviation Authority has told Citi Business News that it has lost almost 95% of its revenue due to the coronavirus induced ban on intern...
Nigeria’s Aviation Industry Lost $700m
Publication Date: 2020-06-17
The Africa Regional Director of the International Air Transport Association, Funke Adeyemi, on Tuesday said Nigeria’s aviation sector has suffered a l...
IMF Estimate Federal Government Needs $100bn Investment In Roads
Publication Date: 2020-06-17
The International Monetary Fund has said Nigeria needs to invest $100bn in its road network to improve accessibility to all regions. The IMF stated th...
IMF To Back Government’s Anti-Corruption Fight
Publication Date: 2020-06-17
The International Monetary Fund has pledged to support governments in adopting measures to fight corruption. It vowed to do so by publishing procureme...
Foreign Reserves Fall By $129.83m In One Week
Publication Date: 2020-06-17
The latest data from the Central Bank of Nigeria have shown that the country’s foreign reserves have commenced a downward trend, dropping by $129.83m ...
Power Minister Says New Electricity Tariffs Effective from July
Publication Date: 2020-06-17
The Minister of Power, Sale Mamman, has insisted that the new increment on electricity tariff would take off in July. He stated this on Tuesday at the...
Ride-Hailing Firm Grab Cuts Staff To Cope With Virus Impact
Publication Date: 2020-06-16
Southeast Asian ride-hailing and payments firm Grab on Tuesday said it would lay off more than 300 employees due to the impact of novel coronavirus, i...
Dollar Weakens as Fed Boosts Risk Sentiment
Publication Date: 2020-06-16
The dollar sold off in early European trade Tuesday, as the Federal Reserve’s move to start purchasing U.S. corporate bonds boosted sentiment at the e...
Indonesia Says U.S. Not Investigating VAT On Digital Services
Publication Date: 2020-06-16
Indonesia's finance minister Sri Mulyani Indrawati on Tuesday said Indonesia's plan to impose 10% value-added tax (VAT) on digital services offered by...
Apple Claims Half A Trillion Dollars App Store Economy
Publication Date: 2020-06-16
Apple has said that its App Store ecosystem facilitated half a trillion dollars of trade in 2019. The firm said more than 85% of that figure occurred ...
Instagram Set To Overtake Twitter As A News Source
Publication Date: 2020-06-16
Research suggests that Photo-sharing app Instagram is set to overtake Twitter as a news source. The 2020 Reuters Institute Digital News report found t...
EU Imposes Tariffs on Chinese Makers Of Glass Fibre Fabric In China And Egypt
Publication Date: 2020-06-16
The European Union imposed tariffs on Chinese producers of glass fibre fabric in China and Egypt after finding they had benefited from unfair subsidie...
Zimbabwe Inflation At 785.55% Y/Y In May
Publication Date: 2020-06-16
Zimstat on Tuesday said Zimbabwe’s inflation rose to 785.55% year-on-year in May from 765.57% the previous month, as citizens grapple with rising pric...
Chartered Institute Of Marketing Ghana Bill Passed After Nearly 2 Decades
Publication Date: 2020-06-16
The Chartered Institute of Marketing Ghana Bill 2019, has been passed by Parliament after nearly two decades of anticipation by marketers. It was pass...
Refineries Earn N3.45bn, NAPIMS Makes N1.02tn
Publication Date: 2020-06-16
Nigerian National Petroleum Corporation said the nation’s refineries generated a total revenue of N3.45bn in 2018 but their salary expenses and other ...
Nigeria Loses $29bn Annually To Power Sector Failure
Publication Date: 2020-06-16
The President of the Senate, Ahmad Lawan, on Monday said Nigeria was losing an average of $29bn to power sector failure. Lawan stated this in Abuja wh...
Finance Minister Lays Down Plan to Rescue Power Sector
Publication Date: 2020-06-16
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Monday, reeled out the recovery plan of the Federal Government to save the...
IMF Says Nigeria needs to spend 18% GDP on infrastructure
Publication Date: 2020-06-16
The International Monetary Fund has estimated additional spending of 18 percentage points of Gross Domestic Product by 2030 for Nigeria to achieve Sus...
Power Minister Sacks NBET Boss
Publication Date: 2020-06-16
The Federal Government has sacked Marilyn Amobi from office as the Managing Director of the Nigerian Bulk Electricity Trading Plc. Amobi, who was repl...
EasyJet Says A Full Plane is 100% Safe
Publication Date: 2020-06-15
Still on the aviation industry, the boss of EasyJet says he would feel "100% safe" flying on full planes as the airline resumed a limited number of ...
China To Launch New Airline Despite Travel Downturn
Publication Date: 2020-06-15
China's second-biggest airline is to launch a new carrier despite a severe global downturn in passengers caused by the coronavirus pandemic. China Eas...
BP Takes Hit Of Up To $17.5bn As It Forecasts Cheaper Oil
Publication Date: 2020-06-15
BP has forecast lower oil prices for decades to come as governments speed up plans to cut carbon emissions in the wake of the coronavirus pandemic. Th...
U.S. Stocks Fell Amidst Tension Of Second Wave Of Pandemic
Publication Date: 2020-06-15
U.S. equity futures fell and Treasuries advanced on signs that a second wave of the pandemic is emerging. European stocks pared losses, while the doll...
Zambia Asks Paris Club for Suspension Of Debt Payments Until December
Publication Date: 2020-06-15
Zambia has asked the Paris Club of creditor nations to let it suspend principal and interest payments on debts to all its official creditors from May ...
IMF cuts Senegal's 2020 GDP forecast to 1.1%
Publication Date: 2020-06-15
The International Monetary Fund has cut Senegal’s 2020 economic growth forecast to 1.1% from a 3% estimate in April due to the effects of the coronavi...
Congo's Gold Being Smuggled Out By The Tonne
Publication Date: 2020-06-15
A United Nations report has found that gold production in Democratic Republic of Congo continues to be systematically underreported while tonnes of th...
South Africa Consults With Industry On Nuclear Power Plans
Publication Date: 2020-06-15
South Africa’s energy ministry has began consultations with industry on preparations for a proposed 2,500 megawatt nuclear power plant building progra...
South African Rand Weaker As Second Wave Fears Hurt Markets
Publication Date: 2020-06-15
South Africa’s rand opened weaker on Monday as investors sold riskier currencies on fears of a second wave of the coronavirus in China. At 0652 GMT, t...
Orange Eyes Nigeria, South Africa As Possible New Markets
Publication Date: 2020-06-15
Orange, France’s largest telecom operator, believes it would benefit from having a wider footprint in Africa and will give itself a few months to make...
Department Petroleum Resources Releases Oil Sector Survival Strategic Plan
Publication Date: 2020-06-15
Nigeria's Department of Petroleum Resources has outlined some strategic plans that would guarantee the survival of Nigeria’s oil industry post COVID-1...
Power Generation Falls To 2,943MW As 10 Plants Remain Idle
Publication Date: 2020-06-15
Data from the Nigerian Electricity System Operation has shown total power generation in the country fell to 2,943.4 MegaWatts as of 6am on Sunday from...
Nigeria's COVID-19 Case Surpasses 16,000
Publication Date: 2020-06-15
Meanwhile, Nigeria’s COVID-19 cases surpassed 16,000 on Sunday as Gombe State, with 73 cases, had the highest number of infections for the day. In a l...
Resident Doctors Embark On Indefinite Strike
Publication Date: 2020-06-15
Members of Nigeria's National Association of Resident Doctors have embarked on an indefinite nationwide strike. President of the association, Dr Aliyu...
Nigerian Stock Closes On A Negative Note
Publication Date: 2020-06-15
Equities at the Nigerian Stock Exchange ended on a negative note on Monday as the benchmark index fell 0.91 percent. After 4,808 deals, the All Share ...
UK Backtracks on Full EU Border Checks Amid Coronavirus Crisis
Publication Date: 2020-06-12
UK’s government is expected to apply much less rigorous EU border checks on imports than it initially had planned, after the Brexit transition period ...
Twitter Removes More Than 170,000 Pro-China Accounts
Publication Date: 2020-06-12
Twitter has removed more than 170,000 accounts it says were tied to an operation to spread pro-China messages. The social media platform has announced...
UK Economy Shrinks Record 20.4% In April Due To Lockdown
Publication Date: 2020-06-12
The UK's economy shrank by 20.4% in April - the largest monthly contraction on record - as the country spent its first full month in lockdown. The Off...
South African Activists Warn Energy Minister Over Nuclear Plan
Publication Date: 2020-06-12
South African activists who blocked a massive nuclear power project under former president Jacob Zuma have written to the energy minister to warn him ...
South Africa's Rand Bounces Back After Sell-Off
Publication Date: 2020-06-12
South Africa’s rand gained in early trade on Friday, after tumbling more than 3% in the previous session on growing doubts over a quick recovery from ...
Africa Free Trade Zone Could Launch On Jan 1
Publication Date: 2020-06-12
The official charged with overseeing the bloc’s establishment on Thursday said the African Continental Free Trade Area (AfCFTA) could begin operating ...
Kenya Hits Tech Giants With 1.5% Digital Tax
Publication Date: 2020-06-12
Kenya will impose a 1.5% digital tax on tech companies in an effort to squeeze more from online firms that do business and earn profits in the country...
Kenya's Centum Investment Says Full-Year Pretax Profit Jumps 85%
Publication Date: 2020-06-12
Kenya’s Centum Investment Company on Friday said its full-year pretax profit jumped 85% to 8.2 billion shillings ($77.10 million), boosted by rising i...
Africa's Multichoice Looks To Netflix And Amazon In Strategy Shift
Publication Date: 2020-06-12
Africa’s biggest pay-TV group MultiChoice on Thursday said adding streaming services will give it a head start when online viewing takes off on the co...
IMF Approves Additional $111.06 Mln To Rwanda To Address COVID-19 Pandemic
Publication Date: 2020-06-12
The International Monetary Fund on Thursday said it had approved an additional $111.06 million disbursement to Rwanda to address the effects of the CO...
Accra Chamber Of Commerce Launches Website To Promote Businesses
Publication Date: 2020-06-12
The Greater Accra Regional branch of the Ghana National Chamber of Commerce and Industry, has launched a new website to showcase and promote the busin...
PenCom Waives Requirements, Orders PFAs To Pay Retirees
Publication Date: 2020-06-12
The National Pension Commission has ordered Pension Fund Administrators to temporarily waive the National Identity Number that was a mandatory require...
Deadline Extended For Nigeria's Marginal Oilfield Bid Round
Publication Date: 2020-06-12
The Department of Petroleum Resources on Thursday said the deadline to register to bid for Nigeria’s marginal oilfields has been extended by a week. T...
Reps Amend Revised Budget, Raise Estimates By N5bn
Publication Date: 2020-06-12
The House of Representatives on Thursday passed amended the revised 2020 Appropriation Bill and further raised its estimated by about N5bn, from the N...
FG Says 39.4 Million May Be Jobless Before Year End
Publication Date: 2020-06-12
The Federal Government has raised the fear that except something urgent is done, about 39.4 million Nigerians may be jobless by the end of the year as...
Tesla Wins China Approval To Build Model 3 Vehicles With LFP Batteries
Publication Date: 2020-06-11
A document on Ministry of Industry and Information Technology website showed that Tesla Inc has received government approval to build Model 3 vehicles...
Amazon Bans Police Use of Facial Recognition Tech
Publication Date: 2020-06-11
Technology giant Amazon has banned the police from using its controversial facial recognition software for a year. It comes after civil rights advocat...
South Africa's Business Confidence Hits Record Low
Publication Date: 2020-06-11
According to a survey showed on Wednesday, South Africa’s business confidence hit a record low in the second quarter as a coronavirus-led lockdown sta...
South Africa's Rand Falls After Gloomy Fed Outlook
Publication Date: 2020-06-11
South Africa’s rand slipped on Thursday, tracking emerging markets as bleak economic projections from the U.S. Federal Reserve rattled investors. At 0...
AfDB Vice-President, Resigns
Publication Date: 2020-06-11
The Vice President for Agriculture, Human and Social Development at the African Development Bank, Dr Jennifer Blanke, has resigned her position. The A...
GCB MD Boast Of G-Money Stands in The Market
Publication Date: 2020-06-11
A comparative analysis of rates between G-Money and the three other mobile money service providers in Ghana show that G-Money currently stands tall wi...
Nigeria To Reach OPEC+ Compliance by Mid-July
Publication Date: 2020-06-11
The head of the Nigerian National Petroleum Corporation Mele Kyari on Wednesday said Nigeria did not fully comply with a pact by oil producers to rein...
House of Representative Pass 10.8 Trillion Naira Budget to Senate
Publication Date: 2020-06-11
House of Representatives on Wednesday passed a revised 10.8 trillion-naira ($30 billion) budget based on oil prices at $28 per barrel. The budget is 3...
Federal Government Procures Boeing 737-NG Flight Simulator
Publication Date: 2020-06-11
The Federal Government has said a modern Boeing 737-NG Full Flight Simulator has arrived in the country and is currently at the seaport undergoing Cus...
Department Petroleum Resources Shuts Down Errant Filling Stations
Publication Date: 2020-06-11
The Department of Petroleum Resources is enforcing the new price range of N121.5 to N123.5/litre for petrol at filling stations across the country and...
UN Says 13 Million Jobs In Nigeria Threatening Covid-19
Publication Date: 2020-06-11
The World Food Programme of the United Nations on Wednesday said the COVID-19 pandemic may lead to the loss of 13 million jobs in Nigeria. According t...
NIPOST tackles FIRS, moves for Finance Act amendment
Publication Date: 2020-06-11
The Nigerian Postal Service has sent a request for an amendment to the Finance Act 2019 to the National Assembly as it seeks to be empowered to earn r...
NNPC Warns Nigerian Operators Producing Oil At $93/Barrel.
Publication Date: 2020-06-11
The Nigerian National Petroleum Corporation said some of its partners are producing a barrel of crude oil in the country at $93, a development it desc...
CrossFit founder steps down as CEO after criticism over Floyd tweet
Publication Date: 2020-06-10
CrossFit Inc founder Greg Glassman stepped down as chief executive on Tuesday, days after he apologized for his tweet on the killing of an unarmed bla...
Singapore Approves Anti-Viral Drug For COVID-19 Patients
Publication Date: 2020-06-10
Authorities on Wednesday said Singapore has approved the use of the anti-viral drug remdesivir to treat seriously ill coronavirus patients, becoming t...
Zara owner sees online sales surge 95% in April
Publication Date: 2020-06-10
Inditex, the owner of Zara, said online sales surged 95% in April as its stores were closed during the coronavirus lockdown in much of Europe. The com...
Mike Pompeo Criticises HSBC For Backing Hong Kong Security Law
Publication Date: 2020-06-10
US Secretary of State Mike Pompeo has criticised banking giant HSBC for supporting China's move to impose new security legislation in Hong Kong. Mr. P...
Arcelormittal South Africa Fined Over Hydrogen Sulfide Emissions
Publication Date: 2020-06-10
ArcelorMittal South Africa on Wednesday said it will pay a fine of 3.64 million rand ($219,658) relating to charges of exceeding hydrogen sulfide mini...
Egypt's headline inflation slowed to 4.7% in May
Publication Date: 2020-06-10
According to the official statistics agency CAPMAS on Wednesday Egypt’s annual urban consumer price inflation rate slowed to 4.7% in May from 5.9% in ...
Guinea signs Simandou iron deal with SMB-Winning consortium
Publication Date: 2020-06-10
Guinea on Tuesday signed an agreement with a consortium for the development of its giant Simandou iron ore reserve, another step towards the realisati...
SEC Gives Validation of Ongoing Payment Fund Management to Customers
Publication Date: 2020-06-10
The Securities and Exchange Commission (SEC) says it hopes to, in the near future, begin payment of outstanding validated claims of clients of some of...
Customers Gives SEC Conditions to Reinstating Fund Managers
Publication Date: 2020-06-10
The Coalition of Aggrieved Customers of Collapsed Fund Management Companies is calling on the Securities and Exchange Commission to ensure that any co...
BoG Declares No Dividend For 2019 Despite GH¢1.8bn Profit
Publication Date: 2020-06-10
The Bank of Ghana posted a profit of 1.8 billion cedis for 2019 which was about twice the operating loss of 793 million cedis it recorded in 2018. Thi...
Federal Government Says Indigenous Oil Marine Vessels Now 40%
Publication Date: 2020-06-10
The Federal Government on Tuesday said Nigerian-owned marine vessels for oil and gas sector operations have increased from three per cent to over 40 p...
Federal Government suffers N1.01tn revenue shortfall
Publication Date: 2020-06-10
The negative impact of the Coronavirus pandemic has resulted in the Federal Government recording a revenue shortfall of about N1.01tn in the first qua...
Federal Government to Auction N150bn Bonds
Publication Date: 2020-06-10
The Debt Management Office has said the Federal Government will auction N150bn worth of bonds by subscription on June 17. A circular by the DMO on Tue...
What Can We Harness to The Betterment of Nigerian Economy Post Covid-19?
Publication Date: 2020-06-10
This is the time to build Nigeria’s healthcare system but while we’re in isolation, let’s engage in productive work. Will be speaking on what creators...
UK To Start Post-Brexit Trade Talks with Japan
Publication Date: 2020-06-09
The UK and Japan are set to begin talks on Tuesday aimed at reaching agreement on a post-Brexit trade deal. The negotiations come as London and Tokyo ...
Hong Kong Government To Lead $5 Billion Rescue Package For Cathay Pacific
Publication Date: 2020-06-09
Cathay Pacific Airways Ltd revealed on Tuesday that the Hong Kong government will lead a recapitalisation plan worth HK$39 billion ($5 billion) to hel...
Austrian Airlines To Get €600m Rescue Package
Publication Date: 2020-06-09
Australian government on Monday said Agreement has been reached on a rescue package for Austrian Airlines to the tune of 600 million euros ($677 milli...
Production Resumes At Libya's Second Oil Field
Publication Date: 2020-06-09
Libya’s National Oil Company on Monday said it had restarted production at Al-Fil oil field, closed since January by the forces of eastern military st...
South Africa's Rand Falls.
Publication Date: 2020-06-09
South Africa’s rand weakened against the U.S. dollar early on Tuesday, giving back earlier gains as traders booked profits ahead of the U.S. Federal R...
World Bank Expects Tanzania's Economic Growth To Fall To 2.5% In 2020
Publication Date: 2020-06-09
The World Bank on Monday said Tanzania’s economic growth is expected to drop to 2.5% in 2020 from 6.9% last year, citing the impact of the coronavirus...
Kenya Central Bank to Hold Its Rate-Setting Meeting On June 30
Publication Date: 2020-06-09
The Kenyan central bank’s on Tuesday said its Monetary Policy Committee will hold its next rate-setting meeting on June 30. Policymakers left the bank...
Administrators Propose Sales Plan for South Africa's Edcon.
Publication Date: 2020-06-09
Administrators in charge of South Africa’s Edcon have proposed a sales process that may lead to job redundancies in significant numbers, after the ret...
Speaker of Ethiopia's upper House resigns after polls postponed
Publication Date: 2020-06-09
Ethiopia’s upper house speaker resigned on Monday in apparent protest at the postponement of planned elections in the Horn of Africa country over the ...
Sudan Calls for Renewed Talks On Blue Nile Dam
Publication Date: 2020-06-09
Sudan has called for the resumption of talks with Egypt and Ethiopia on the giant Blue Nile hydropower dam after the failure of a U.S-led mediation ef...
Impact Investor, I&P to Support More SMEs In Ghana
Publication Date: 2020-06-09
International impact investor, Investisseurs & Partenaires (I&P), says it is looking forward to supporting more Small and Medium Scale Enterprises (SM...
Industry Watchers of Ghana Caution Gov’t to Tread Cautiously
Publication Date: 2020-06-09
Some industry watchers of Ghana’s telecommunication space have asked government to tread cautiously with its plans to implement some policies to limit...
CBN Says COVID-19 Loans Will Be Disbursed 48 Hours After Approval
Publication Date: 2020-06-09
The Central Bank of Nigeria has said all successful applicants that have submitted their account details for the COVID-19 Targeted Credit Facility sho...
Electricity consumers to pay more for prepaid meters
Publication Date: 2020-06-09
Power consumers are going to start paying more for prepaid meters as the Nigerian Electricity Regulatory Commission has hiked the cost of the commodit...
UK Post-Brexit Drug Stockpiles at Risk Amid Virus
Publication Date: 2020-06-08
The UK has been warned by the pharmaceutical industry that stockpiles of medical supplies have been used up entirely by the coronavirus pandemic. A me...
Ryanair Against New UK Travel Quarantine Rules.
Publication Date: 2020-06-08
New rules requiring all people arriving in the UK to self-isolate for 14 days have come into effect. Those arriving by plane, ferry or train - includi...
Samsung Leader Appears in Court.
Publication Date: 2020-06-08
Samsung Group’s leader, Jay Y. Lee, appeared before a South Korean court on Monday, awaiting a ruling on whether new allegations including accounting ...
Egypt Shares Jump After IMF Agreement Announced
Publication Date: 2020-06-08
Egyptian shares jumped on Sunday after the International Monetary Fund (IMF) announced on Friday it had reached a staff-level agreement with Egypt for...
Gulf Stocks Rise On Oil Pact
Publication Date: 2020-06-08
Most bourses in the Gulf ended higher on Sunday, a day after the OPEC+ group of oil producers agreed to extend record production cuts until the end of...
South Africa's Rand Boosted by Improved Sentiment
Publication Date: 2020-06-08
South Africa’s rand rose against the U.S. dollar early on Monday as global risk sentiment improved, although poor trade data from China, the country’s...
Sudan Talks with IMF On Non-Funded Programme
Publication Date: 2020-06-08
Finance Minister Ibrahim Elbadawi on Sunday said Sudan began talks this week with the International Monetary Fund (IMF) on a non-funded programme that...
South African Airways Administrators Ask to Delay Rescue Plan Until June 15
Publication Date: 2020-06-08
Administrators at state-owned South African Airways asked creditors on Monday to approve another delay until June 15 for the publication of a business...
Banks Defy BoG’s Directives On Customer Complaints, Data Protection
Publication Date: 2020-06-08
A market survey by the Bank of Ghana (BoG) has shown that some banks are breaching its Consumer Recourse Mechanism Guidelines for Financial Service Pr...
Nigeria’s Oil Revenue to Drop by N140bn Due OPEC Cut
Publication Date: 2020-06-08
The revenue accruable to the Federal Government from the sale of crude oil is estimated to drop by a cumulative sum of about N140bn in May and June th...
Gencos Kicks Against Reversing Privatisation, Allege N1tn Debt
Publication Date: 2020-06-08
Electricity generation companies on Sunday kicked against calls by the Senate for a reversal of the privatisation of the power sector. The Gencos also...
Contributory Pension Assets Rose By N359bn In Four Months
Publication Date: 2020-06-08
According to latest statistics from the National Pension Commission on Friday the total pension assets under the Contributory Pension Scheme rose by ...
Beverage Companies Envisage Job Losses As Production Drops
Publication Date: 2020-06-08
Operators and workers have said massive job losses in food and beverage companies are expected in the coming weeks. A lot of factors such as access to...
Federal Government Say Marketers Can’t Fix Petrol Price
Publication Date: 2020-06-08
The Federal Government has said oil marketers are not free to fix the price of petrol. A statement in Abuja on Sunday by the Petroleum Products Pricin...
Luxury Carmaker, Bentley To Cut Up To 1,000 Jobs
Publication Date: 2020-06-05
Luxury carmaker Bentley is to cut 1,000 jobs in the UK, about a quarter of its workforce. The company, which makes its cars in Crewe, is expected to o...
Retailer Gap Posts Near-$1bn Loss Due to Coronavirus
Publication Date: 2020-06-05
Clothing retailer Gap has reported a loss close to $1bn due to store closures because of the coronavirus pandemic. The company was $932m (£740m) in th...
Facebook To Apply State Media Labels On Russian and Chinese Outlets
Publication Date: 2020-06-05
Facebook Inc on Thursday said it will start labeling Russian, Chinese and other state-controlled media organizations, and later this summer will block...
Bank of Japan To Keep Economic Recovery View Despite Pandemic
Publication Date: 2020-06-05
Sources said the Bank of Japan is likely to maintain this month its projection that the economy will gradually recover from the damage wrought by the ...
Goldman Sachs Executive's Email Making Plea For Racial Equality Goes Viral At Firm
Publication Date: 2020-06-05
An email by a Goldman Sachs Group Inc employee about his experiences of racial injustice and criticizing managers at the Wall Street bank for not supp...
Philippines' Duterte Renews Drug War Threat
Publication Date: 2020-06-05
President Rodrigo Duterte renewed on Friday a threat to kill drug dealers after the Philippines seized 756kg (1,667lbs) of crystal methamphetamine jus...
Guinea Approves SMB-Winning Deal For Simandou Iron Mine Project
Publication Date: 2020-06-05
The mines minister told Reuters that Guinea’s government approved on Thursday a basic agreement for the development of its giant Simandou iron ore pro...
Zambia Reviews 2020 Budget After COVID-19 Hits Revenue
Publication Date: 2020-06-05
Secretary to the Treasury Fredson Yamba on Thursday said Zambia is reviewing its 2020 budget after a reduction in revenue as a result of the COVID-19 ...
South African Miners Seek Return Of Foreign Mineworkers
Publication Date: 2020-06-05
The Minerals Council on Thursday said South Africa’s mining industry is in talks with the government about allowing foreign miners to return to work, ...
South Africa's Net Foreign Reserves Edge Up To $45.5 Bln In May
Publication Date: 2020-06-05
South Africa’s net foreign reserves increased to $45.531 billion in May from $45.470 billion in April, Reserve Bank data showed on Friday. Gross reser...
South Africa's Rand Gains As New ECB Stimulus Lifts Risk Demand
Publication Date: 2020-06-05
South Africa’s rand re-ignited its rally early on Friday, spurred on by the European Central Bank’s larger-than-expected increases of its stimulus pro...
African Development Bank Board Stands By Embattled Chief
Publication Date: 2020-06-05
The African Development Bank’s (AfDB) board on Thursday said it stood by an internal investigation that had cleared its president of improper conduct,...
Lagos-Ibadan Expressway To Be Completed In 2022
Publication Date: 2020-06-05
Minister of Works, Babatunde Fashola, on Thursday said the Lagos-Ibadan Expressway will now be completed in the first quarter of 2022. The road projec...
Buhari Nominates Okonjo-Iweala To Head WTO
Publication Date: 2020-06-05
President Muhammadu Buhari has approved the nomination of a former Coordinating Minister for the Economy, Ngozi Okonjo-Iweala, for the position of dir...
Federal Government Bars Debtors From Bidding For Oil Fields
Publication Date: 2020-06-05
The Department of Petroleum Resources has said companies, including their promoters, indebted to the Federal Government will not be allowed to partici...
Snapchat Removes Trump Account from Curated Promotional Section
Publication Date: 2020-06-04
Snap Inc said it would no longer promote U.S. President Donald Trump’s account in Snapchat’s Discover section, saying his incendiary comments last wee...
Ford's China Ventures Increase May Sales as Market Rebounds
Publication Date: 2020-06-04
Ford Motor’s China ventures have reported year-on-year sales growth for May in a sign of how the world’s biggest auto market is continuing its recover...
Senators to Announce Sanctions Bill on Russia's Nord Stream 2 Gas Pipeline
Publication Date: 2020-06-04
Senate aides said U.S. senators will announce a bill this week expanding sanctions on Russia’s Gazprom-led Nord Stream 2 project, targeting a pipeline...
U.S. Airlines Gain Final Approval to Drop Services To 75 Domestic Airports
Publication Date: 2020-06-04
Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has bee...
Mali's Industrial Gold Production Expected To Slump In 2020
Publication Date: 2020-06-04
Mali’s mines and petroleum ministry on Wednesday said Industrial gold production in Mali is expected to fall by 8.3% year on year to 59.77 tonnes this...
South Africa's Rand Slips From 11-Week High
Publication Date: 2020-06-04
South Africa’s rand eased against the U.S. dollar in early trade on Thursday, after a strong rally in the previous session that was fuelled by hopes o...
Exxonmobil's Delayed FID on Mozambique Project Postponed to Next Year
Publication Date: 2020-06-04
The chairman of its National Petroleum Institute (INP) on Wednesday said Exxon Mobil Corp’s final investment decision (FID) on a blockbuster $30 billi...
Kenya Private Sector Up Slightly in May
Publication Date: 2020-06-04
A survey on Thursday showed Kenya’s private sector activity inched up in May after falling sharply a month earlier because of restrictions to curb the...
Minority Calls for Withdrawal Of 100% Increment In BOST Margin
Publication Date: 2020-06-04
The Ranking Member of the Mines and Energy Committee of Parliament, Adam Mutawakilu, has asked the government to immediately withdraw the increment in...
Ghanaian Gov’t Urged to Waive Interest Payment on Deferred Taxes
Publication Date: 2020-06-04
According to Tax Analyst, Dr. Abdallah Ali Nakyea, Businesses that have been struggling as a result of the impact of the novel Coronavirus can appeal ...
Senate Queries CBN Over $3.3bn Unremitted Foreign Tax
Publication Date: 2020-06-04
The Senate has queried the Central Bank of Nigeria over alleged unremitted $3.3bn from the $21.3bn collected by the Federal Inland Revenue Service as ...
Federal Governmnet May Generate N3.17bn From Oilfield Bid Fees
Publication Date: 2020-06-04
Data obtained from the Department of Petroleum Resources have shown that the Federal Government may generate at least N3.17bn from the payment of fees...
Geely's Polestar To Open 20 Showrooms In China To Compete With Tesla
Publication Date: 2020-06-04
Polestar, the premium electric vehicle maker owned by China’s Geely, plans to open 20 showrooms in the mainland, as it prepares for delivery of its Po...
Renault Finalises 5-Billion-Euro State-Backed Loan
Publication Date: 2020-06-03
Renault finalised on Wednesday a 5 billion-euro ($5.60 billion) loan from with the French government, strengthening the carmaker’s finances in the wak...
China Drives Global Oil Demand Recovery Out Of Coronavirus Collapse
Publication Date: 2020-06-03
China’s oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust reb...
U.S. senator Cotton cautions Britain over Huawei cooperation
Publication Date: 2020-06-03
U.S. Republican Senator Tom Cotton cautioned Britain on Wednesday on a decision to allow China’s Huawei a role in 5G networks could hurt military coop...
U.S Challenges Unfair Tech Taxes In The UK And EU
Publication Date: 2020-06-03
The US has launched a formal investigation into new digital taxes over concerns they unfairly target American tech giants like Facebook. The inquiry w...
UK Factory Still Under Threat From No-Deal Brexit
Publication Date: 2020-06-03
UK's largest car manufacturing plant said it is unsustainable if the UK leaves the European Union without a trade deal. The Japanese company's global ...
Australia Set For First Recession In Three Decades
Publication Date: 2020-06-03
Australia is set for its first recession in 29 years as the country feels the impact of the virus pandemic. Official figures show that the economy shr...
Google In $5bn Lawsuit For Tracking In Private Mode
Publication Date: 2020-06-03
Google has been sued in the U.S over claims it illegally invades the privacy of users by tracking people even when they are browsing in private mode. ...
Govt. Declares Zambia's Copperbelt Energy Corporation Infrastructure Common Carrier
Publication Date: 2020-06-03
Zambia’s Copperbelt Energy Corporation (CEC) on Tuesday said that the country’s minister of energy, Mathew Nkhuwa, had issued a statutory instrument d...
South Africa's Rand Strengthens To 11-Week High
Publication Date: 2020-06-03
South Africa’s rand traded at its strongest in 11 weeks against the U.S. dollar in early trade on Wednesday, as investor appetite for riskier assets i...
South Africa's Factory Activity Contracts Further Under Lockdown
Publication Date: 2020-06-03
A survey on Wednesday showed that South African private sector activity contracted again in May, reaching a record low, as output and new sales collap...
Senate Approves President's Request For $5.5 Bln In External Borrowing
Publication Date: 2020-06-03
The Senate on Tuesday approved President Muhammadu Buhari’s request for $5.51 billion in external borrowing from international lenders. The borrowing ...
Buhari Assures AfDB President Adesina Of His Support.
Publication Date: 2020-06-03
President Muhammadu Buhari has assured Dr. Akinwumi Adesina of Nigeria’s support in his bid to seek a second term in office as the President of the Af...
Vodacom Switches on Africa’s First Live 5G Mobile Network in Three Cities
Publication Date: 2020-05-05
South African mobile operator, Vodacom Group, said on Monday it has switched on Africa’s first live 5G mobile network in three cities, with further...
South Africa's Famous Brands Reports Marginal Revenue
Publication Date: 2020-05-05
South Africa’s Famous Brands Ltd, owner of restaurant chains including Steers and Wimpy, on Monday reported negligible revenue for a period of five...
South African Airways Could Shed Staff From May 12
Publication Date: 2020-05-05
Administrators of South African Airways say the airline could start shedding its 5,000 staff from May 12 if unions and workers do not accept a prop...
South African Banks' Relief For Virus-Hit Borrowers Nears $800 Million
Publication Date: 2020-05-05
South Africa's Absa bank says it has agreed hundreds of millions of dollars in temporary repayment relief for its borrowers, after the industry said 1...
Algeria Cuts Budget, Increases Minimum Wage
Publication Date: 2020-05-05
Algerian government has decided to reduce the state budget by half due to a financial crisis caused by the global collapse in oil prices and worldw...
Insurers Assures Sacked Workers Of Monthly Salaries For Insured Jobs.
Publication Date: 2020-05-05
Insurance operators have assured workers, who took job loss insurance covers before the commencement of COVID-19 pandemic, of getting insurance com...
FG Raises MDAs Operating Surplus To N916.87bn
Publication Date: 2020-05-05
The Federal Government has raised the target set for Ministries, Departments and Agencies through the payment of operating surplus from 849.97 billion...
CBN, Bankers’ Committee Suspend Lay-Offs In Banks
Publication Date: 2020-05-05
The Central Bank of Nigeria and the Bankers’ Committee have jointly agreed to SUSPEND sacking of workers in the banks during the COVID-19 pandemic....
Federal Government Retains N125/Litre Petrol Price Despite Crude Oil Crash
Publication Date: 2020-05-05
The Federal Government has maintained the pump price of petrol at 123 naira, 50kobo for the month of May, despite continued crash of crude oil price.
National Bureau Statistics Says 40% Of Nigerians Live Below Poverty Line
Publication Date: 2020-05-05
Latest figures from the National Bureau of Statistics shows forty percent of people in Nigeria live in poverty. The figures published on Monday hig...
South Africa's Absa PMI Crashes To All-Time Low
Publication Date: 2020-05-04
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) contracted to its lowest ever in April with manufacturing activity forced ...
IMF Approves $91 Mln Loan To Malawi For COVID-19 Trade Balance
Publication Date: 2020-05-04
The International Monetary Fund has approved a 91-million-dollar loan for Malawi to help fund a balance of payments deficit exacerbated by the COVI...
Spot Gold Rises 12%
Publication Date: 2020-05-04
Spot gold traded around 1,698 dollars and 61 cents per ounce on Monday, an almost 12 percent increase year to date. This comes as analysts from UBS...
O2 And Virgin Media In Talks To Merge
Publication Date: 2020-05-04
Mobile operator O2 may be set to merge with broadband giant Virgin Media to create one of the country's largest entertainment and telecoms firms.
Norwegian Air Shareholders Back $1 Billion Rescue Plan
Publication Date: 2020-05-04
Shareholders of Norwegian Air have backed its financial survival plan on Monday, with more than 95 percent of votes cast supporting the conversion ...
U.S Government Debt Price Rises Due To U.S-China Tension
Publication Date: 2020-05-04
U.S. government debt prices were higher Monday morning as Washington ramped up its criticism of China over the origin of the coronavirus pandemic. ...
Ryanair To Cut 3,000 Jobs.
Publication Date: 2020-05-01
Ryanair is set to cut 3,000 jobs, or about 15% of its workforce, as it restructures to cope with the coronavirus crisis. The airline says the 3,000...
India Extend Lockdown For Another 2 Weeks
Publication Date: 2020-05-01
The national coronavirus lockdown in India has been extended beyond 4 May for another two weeks. New guidelines, outlined on Friday, update the cou...
Gold Gains on Dismal US Data
Publication Date: 2020-05-01
Gold rose on Friday as dismal data from the United States underscored the deep economic impact of the coronavirus. However, moves by some countries...
Canada Stocks Falls Amidst Tension
Publication Date: 2020-05-01
The Toronto Stock Exchange's S&P/TSX composite index opened lower on Friday, extending previous session’s losses amid renewed tensions between ...
Exxon Mobile Records Loss In 1Q
Publication Date: 2020-05-01
Meanwhile, Exxon Mobil reported a loss in the first quarter as oil prices dropped to historic lows. The oil giant lost 610 million dollars in the f...
Brent Oli Falls More Than 1%
Publication Date: 2020-05-01
The price of Brent rose more than 1% to trade around 26 dollars, 8 cents a barrel on Friday, as major oil producers began output cuts aiming to sta...
World Equity Pulls Back on Trumps Threat
Publication Date: 2020-05-01
World stocks pulled back further on Friday on grim U.S. economic data, mixed company results and President Donald Trump’s threat to impose new tari...
US Manufacturing Index For April Falls To 41.5 Points
Publication Date: 2020-05-01
The U.S. manufacturing slump intensified in April, but not by as much as economists feared. The ISM Manufacturing Index fell to 41.5, better...
Tanzania Opposition Party Instructs MPs To Self-Isolate
Publication Date: 2020-05-01
Tanzania’s main opposition party, Chadema, has told its MPs to self-isolate for at least a fortnight and stay away from parliamentary buildings in ...
South African Treasury Predicts 3- 7 Million Job Lose
Publication Date: 2020-05-01
South Africa's Treasury has warned that the economic cost of the coronavirus pandemic, saying between three and seven million people in the country...
Rwanda Will Start To Ease Coronavirus Lockdown From Monday
Publication Date: 2020-05-01
The Rwandan government will allow limited movement of people and allow restricted openings of businesses including restaurants and hotels from next...
Kenya President Responds to Critics About Flower Deliver.
Publication Date: 2020-05-01
Kenya's President Uhuru Kenyatta has responded to criticism after the country sent flowers to the UK's National Health Service workers. The preside...
BoG Issues First Dedicated Electronic Money Issuer License To Zeepay
Publication Date: 2020-05-01
The Bank of Ghana has authorized its first Dedicated Electronic Money Issuer license to a local Financial Technology company, Zeepay Ghana Ltd. The...
Nigerian Shippers Council commends Shipping Companies for Compliance
Publication Date: 2020-05-01
The Nigerian Shippers’ Council has commended shipping companies for their cooperation in complying with the suspension of demurrage on cargo that l...
Maritime Workers Reject Pay Cut
Publication Date: 2020-05-01
The Maritime Workers Union of Nigeria says its members will not accept pay cut from the management of any maritime company. President-General of th...
Afdb Approves Additional 12.33m Euro For Abidjan-Lagos Highway Project
Publication Date: 2020-05-01
The African Development Bank, AfDB, has approved additional funding of 12.33 million euro for the Abidjan-Lagos Highway corridor project. Th...
Lagos State Government Approves 1.030bln For Pensioners
Publication Date: 2020-05-01
Lagos State government has approved the release of 1.030 billion naira for the payment of the accrued pension rights of 213 public service retirees...
Presidency Arrests Person Suspected Of Leaking Buhari’s Draft Speech
Publication Date: 2020-05-01
The Nigerian presidency says it has arrested an individual suspected of leaking the draft speech of President Muhammadu Buhari's COVID-19 broadcast...
Nigeria Releases Guidelines For Easing Lockdown
Publication Date: 2020-05-01
The Federal Government has released new guidelines for the new phase of containment of COVID-19 from May 4 to May 17, 2020. Part the guidelines, si...
Shell Cuts Dividend For First Time Since the 2nd World War
Publication Date: 2020-04-30
David Barclay, senior investment manager at Brewin Dolphin, said Royal Dutch Shell's decision to cut its dividend for the first time since World Wa...
US Blacklists Five Amazon Foreign Websites
Publication Date: 2020-04-30
Five of online retail giant Amazon’s foreign websites have been placed on a blacklist by the Trump administration. Its e-commerce platforms ...
Tesla Boss Calls For End To Lockdown
Publication Date: 2020-04-30
Tesla boss Elon Musk, who has been opposed to the lockdown measures, told investors in earnings call on Wednesday that he considers it forcibly imp...
South African Rand Holds Firmer On Improved Risk Appetite
Publication Date: 2020-04-30
South Africa’s rand gained against the U.S. dollar early on Thursday, as improved risk appetite overshadowed the imminent exclusion of the country’...
Zimbabwe Central Bank To Cut Main Lending Rate To 15% From May 1
Publication Date: 2020-04-30
Zimbabwe’s central bank said on Wednesday it would cut its main lending rate to 15% from 25% effective May 1 as part of measures to help the econom...
Glencore Cuts Output Guidance.
Publication Date: 2020-04-30
Glencore cut its 2020 capital expenditure and output targets on Thursday to reflect the impact of the coronavirus on its operations, saying the bel...
S&P Downgrades South Africa Credit Rate
Publication Date: 2020-04-30
S&P Global Ratings has downgraded South Africa’s credit rating further into non-investment grade territory, saying COVID-19-related pressures w...
TUC, Employers Association Call for Stimulus Support for Big Businesses
Publication Date: 2020-04-30
The Trades Union Congress (TUC) and the Ghana Employers Association, have called on government to extend its stimulus support to cover big business...
Supreme Court Dismisses Application Challenging the Merger Of Dannex
Publication Date: 2020-04-30
The Supreme Court has unanimously dismissed an application to quash an order of the High Court, which confirmed the merger of Dannex Limited, Ayrto...
AFPOP Demands For Better Protection For Financial Consumers
Publication Date: 2020-04-30
The Alliance for Financial Consumer Protection (AFCOP), has called on the Bank of Ghana to be proactive in protecting financial consumers in the wa...
Tripartite Committee’s Communiqué criticized for signing 10- point communiqué
Publication Date: 2020-04-30
The Deputy Secretary-General of the Ghana Federation of Labour, Kenneth Koomson, has criticized the Tripartite Committee for failing to consider th...
Nigeria Cuts Oil Exports to Meet OPEC Deal
Publication Date: 2020-04-30
Nigeria has revised down its crude oil export programme for May and June to align itself with a global production cut deal led by the Organisation ...
N43.4bn World Bank Grant disbursed to 24 States.
Publication Date: 2020-04-30
The Federal Government has disbursed N43.41bn ($120.6m) to 24 states under the performance-based grant component of the World Bank-Assisted States ...
NNPC Records N9.6bn Loss In Refineries In January
Publication Date: 2020-04-30
Nigeria’s refineries started their 2020 financial year with losses as they posted a cumulative operational deficit of N9.6bn in January. The...
Manufacturers And Governors In Talks To Reopen Factories
Publication Date: 2020-04-30
The Manufacturers Association of Nigeria is currently holding talks with state governors on the need to loosen up more industries across the countr...
Federal Government Decontaminates 2 Out Of 123 Aircraft
Publication Date: 2020-04-30
The Federal Government has said that it plans to decontaminate 123 aircraft nationwide to curtail the spread of COVID-19 but has so far disinfected...
US Crude Future Up 15%
Publication Date: 2020-04-29
U.S. crude futures is up about 15 percent to 14 dollars, 12 cents a barrel, paring a 27 percent plunge over the first two days of this week. Brent ...
Digital Payment Takes Over From Cash Use
Publication Date: 2020-04-29
Experts say the coronavirus will hasten the decline in the use of cash as people make a long-term switch to digital payments. Experts in the UK say...
World Shares Rally Over Economy Opening
Publication Date: 2020-04-29
World shares eked out slim gains on Wednesday, with optimism over economies easing coronavirus lockdowns and oil prices clawing back ground leavene...
Turkey Extends Closure Of Schools Until The End Of May.
Publication Date: 2020-04-29
Turkey has extended the closure of schools until the end of May as part of its measures to combat the spread of the coronavirus. Turkey's Minister ...
Barclays Boss Says Big Offices May Be A Thing Of The Past
Publication Date: 2020-04-29
Meanwhile, the CEO of Barclays, Jes Staley, says the coronavirus pandemic could permanently change how many bankers make the daily trudge into tigh...
Barclays Warns Pandemic Could Cost It £2.1bn
Publication Date: 2020-04-29
Barclays has warned that the coronavirus pandemic could cost the bank about £2.1 billion, largely due to customers being unable to repay their loan...
South Africa Union Urges Mineworkers To Resist Harmony Gold Mine Restart
Publication Date: 2020-04-29
The National Union of Metalworkers of South Africa has told members not to go back to work at Harmony Gold’s Target mine on Friday. The unio...
Kenya's Safaricom Lifts Annual Earnings By 13%
Publication Date: 2020-04-29
Safaricom, Kenya’s biggest telecoms operator, has posted a 13.3 percent jump in annual earnings before interest and tax to 101.5 billion shillings....
Kenya's GDP Growth To Plunge To 1.5% In 2020 Due To Coronavirus
Publication Date: 2020-04-29
The World Bank says Kenya’s economic growth is expected to drop to 1.5% this year, and contract 1% in the worst-case scenario under the impact of t...
Kenya Exhaust COVID-19 Testing Kits And Supplies
Publication Date: 2020-04-29
The Kenya Medical Research Institute, Kemri, has depleted its supplies of coronavirus screening and testing kits. The institute's director, Yeri Ko...
WHO Discloses Rising Cases Of COVID-19 In African Region.
Publication Date: 2020-04-29
The World Health Organisation says the number of reported COVID-19 cases in the W.H.O. African Region has increased from 33,000 to over 34,000 in t...
D-8 Pledged To Help Nigeria Mitigate Impact Of COVID-19 Pandemic
Publication Date: 2020-04-29
The Developing-8 Organisation for Economic Cooperation has pledged to help Nigeria mitigate the health and social impacts of the COVID-19 pandemic....
APM Terminals Employee Test Positive for COVID-19
Publication Date: 2020-04-29
An employee of APM Terminals Apapa has tested positive for COVID-19. The company's General Manager of External Relations, Daniel Odibe, made the di...
FMDQ Approves Commercial Paper Notes
Publication Date: 2020-04-29
FMDQ Exchange has announced the approval and admission of the United Capital Plc and Sterling Bank Plc Commercial Paper notes to its trading platfo...
Nigeria re-appraises borrowing plans
Publication Date: 2020-04-29
The Debt Management Office says the Federal Government has reappraised its Borrowing Plans and decided to raise the 850 billion naira earlier appro...
INEC deploys 39 vehicles to support COVID-19 contact tracing
Publication Date: 2020-04-29
The Independent National Electoral Commission has deployed 39 additional vehicles to support the Presidential Task Force on COVlD-19 in contact tra...
France To Reveal How COVID-19 Lockdown Will Be Eased
Publication Date: 2020-04-28
France will on Tuesday reveal how it plans on May 11 to lift its six-week-old lockdown to combat the coronavirus, with cafes set to stay shut but s...
Nissan Slashes Full-Year Results Forecast.
Publication Date: 2020-04-28
Nissan Motor Co on Tuesday said it expected to post its first annual operating loss in 11 years as the Japanese automaker struggles to recover from...
BP Profits Dive 66% As Coronavirus Hits Oil Demand
Publication Date: 2020-04-28
BP's first quarter profit has dived by two thirds after the global coronavirus crisis hit demand for oil. The oil giant warned it was facing...
HSBC Profits Halved by Pandemic Fallout
Publication Date: 2020-04-28
HSBC says its first quarter profits have almost halved due to the impact of the coronavirus pandemic. Pre-tax profit for the first three mon...
UN Cautions Firms to Ensure Workers Safety As Lockdowns Ease
Publication Date: 2020-04-28
The United Nation on Tuesday said as some countries begin to ease their lockdown restrictions, governments and employers must prepare workplaces an...
US Oil Falls Below $11 Per Barrel
Publication Date: 2020-04-28
US oil plunged below $11 a barrel on Tuesday after a major exchange-traded fund started selling its short-term contracts of the commodity, and stor...
Virtually All Equatorial Guinea Oil Business On Hold
Publication Date: 2020-04-28
Equatorial Guinea hydrocarbons minister on Monday said Virtually all oil and gas projects and licensing rounds are on hold in Equa...
Kenya's Economic Growth Slowed To 5.4% In 2019
Publication Date: 2020-04-28
Kenya’s finance minister Ukur Yatani said on Tuesday that the country’s economy grew by 5.4% in 2019, down from 6.3% the previous year, partly beca...
South African Rand Weaker On Rescue Package Funding
Publication Date: 2020-04-28
South Africa’s rand was weaker early on Tuesday, reflecting worries over how the country will fund a 500 billion-rand ($26.5 billion) rescue packag...
Freight Forwarders Threaten Demo Against Shipping Lines Over ‘Illegal’ Charges
Publication Date: 2020-04-28
The Concerned Freight Forwarders and Traders Association (COFT), has threatened to embark on a massive demonstration at the Tema Port to protest ag...
Investment increases Banks’ Assets Despite Slow Growth In February
Publication Date: 2020-04-28
A new report released by the Bank of Ghana (BoG) on the country’s banking sector performance shows that the largest component of assets of banks, t...
Moody’s Revises Nigeria Banking Outlook To Negative
Publication Date: 2020-04-28
Moody’s Investors Service has changed from stable to negative the banking system outlook for South Africa, Nigeria and Morocco in the light of the ...
CBN Lifts Suspension on Cheques’ Clearing
Publication Date: 2020-04-28
The Central Bank of Nigeria has lifted suspension on cheque clearing by the Deposit Money Banks. It stated this in a circular to all the DMB...
Fayemi To Slash Salaries By 50%
Publication Date: 2020-04-28
Ekiti State Governor, Kayode Fayemi, has directed that salaries of all political appointees in the state be slashed by 50 per cent with immediate e...
PPPRA Warns Of Price Hike Pay For Fuel
Publication Date: 2020-04-28
The Petroleum Products Pricing Regulatory Agency announced on Monday that Nigerians should be ready to pay high or low prices for petrol following ...
IMF's Approval of Nigeria’s $3.4bn Loan seems expectant
Publication Date: 2020-04-28
There are indications that the Executive Board of the International Monetary Fund may approve the $3.4bn loan sought by Nigeria on Tuesday. ...
Two Million Australians Download Coronavirus Tracker App
Publication Date: 2020-04-27
Australia Government said nearly two million Australians rushed to download a new smartphone app designed to make coronavirus contact tracing easie...
South Korea Cautions On Kim Jong Un Rumours
Publication Date: 2020-04-27
Officials in South Korea are calling for caution amid reports that North Korean leader Kim Jong Un may be ill, emphasizing that they have detected ...
EU To Offer Banks Capital Relief To Help Virus-Hit Companies
Publication Date: 2020-04-27
Banks in the European Union are to get more capital relief to help companies struggling in the coronavirus pandemic and avoid crippling provisions ...
U.S. House Speaker Nancy Pelosi Endorses Joe Biden For President
Publication Date: 2020-04-27
U.S. House Of Representatives Speaker Nancy Pelosi has endorsed Joe Biden for president, according to a video statement released by her on Monday.
Burundi Vote Campaign Begins despite Violence And COVID-19
Publication Date: 2020-04-27
Burundi’s political parties started campaigning for next month’s presidential elections on Monday despite opposition accusations of intimidation an...
Shares Gain as Investors Look to Lockdown Easing
Publication Date: 2020-04-27
Stock markets rallied on Monday as the Bank of Japan added more stimulus to cushion the impact of the coronavirus and investors cheered news more c...
Kenyan Shilling Stable, Seen Easing on End Month Demand
Publication Date: 2020-04-27
The Kenyan shilling held steady on Monday but was seen easing against end month dollar demand from the energy and manufacturing sector. At 0...
U.S. Avoids Phased Approach in Trade Talks with Kenya
Publication Date: 2020-04-27
The U.S. Chamber of Commerce said in a document viewed by Reuters that the United States should work to achieve a single, comprehensive agreement w...
Gridco And Sunon Asogli Build $5.4m Auto Transformer to Boost Power Supply
Publication Date: 2020-04-27
The Energy Minister of Ghana, John Peter Amewu, has commissioned a 330/161 KV interconnecting Auto Transformer at Sunon Asogli Power Plant in Tema ...
Egypt State Banks Collect Over $6 Bln From High-Yield Certificates
Publication Date: 2020-04-27
Officials from National bank of Egypt and Banque Misr said the banks have collected almost 100 billion Egyptian pounds ($6.37 billion) from a new h...
Algeria Says Proven Oil Reserves At 10 Billion Barrels
Publication Date: 2020-04-27
Algeria’s Energy Minister Mohamed Arkab said OPEC member Algeria’s proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels.
Algeria Scraps Customs Duties, VAT on Pharmaceutical Products
Publication Date: 2020-04-27
The government of Algeria has temporarily scrapped customs duties and value added tax (VAT) on imports of pharmaceutical products and medical equip...
Economic and Financial Crimes Commission To Probe N5.4bn NDDC PPE Contract.
Publication Date: 2020-04-27
The Niger Delta Rights Advocate, has called on the Economic and Financial Crimes Commission to investigate over N5.4bn personal protection equipmen...
U.S. Congress Heads To Partisan Battle On Coronavirus Aid For States
Publication Date: 2020-04-24
The U.S. Congress is headed back to its normal state of conflict, with leading Republicans lining up against aid for cities and states that Democra...
U.S. Oil Firm Continental Resources Halts Shale Output.
Publication Date: 2020-04-24
Shale oil in North Dakota has halted most of its production in the U.S. state and notified some customers it would not supply crude after prices di...
UAW Says Virus Makes Early May Restart Of U.S. Auto Plants 'Too Risky'
Publication Date: 2020-04-24
The head of the United Auto Workers union on Thursday said it was early and risky to reopen auto plants and Michigan’s economy in early May, citing...
Amazon's £250,000 For Bookshops Fund Stuns Trade
Publication Date: 2020-04-24
Online retailer Amazon who was accused of killing off bricks-and-mortar book sales, has stunned the industry by donating £250,000 to a fund in aid ...
Congress Passes $484bn Economic Relief Bill
Publication Date: 2020-04-24
The US Congress has passed a new Covid-19 relief package totaling $484bn (£391bn), the fourth aid bill to clear Congress in response to the pandemi...
Qatar Presses On With World Cup Projects Despite Covid-19
Publication Date: 2020-04-24
AFP correspondents on Thursday noticed on going work on Qatar’s World Cup stadiums and mega-projects linked to the tournament despite tough social ...
Land Bank Debt Default Draws Attention To South African State Firms' Finances
Publication Date: 2020-04-24
A South African state-owned bank which lends to the agricultural sector said on Friday it had defaulted on payments on two bond programmes worth a ...
West African Economic and Monetary Union's $1.4 Billion Covid-19 Bonds Begins Today
Publication Date: 2020-04-24
The lead manager of UMOA-Titres said the members of the West African monetary union UEMOA plan to raise 846 billion CFA francs ($1.40 billion) on t...
South Africa's Rand Weakens As Virus Dents Risk Appetite
Publication Date: 2020-04-24
South Africa’s rand weakened early on Friday as concerns over the economic damage cause by the COVID-19 pandemic knocked risk appetite, outweighing...
Tension As CBN Increases Exchange Rate For Cargo Imports
Publication Date: 2020-04-24
The Nigeria Customs Service has effected an increase in duty payable on cargoes imported through the ports which led to an unrest in the seaports o...
FRC Issues Fresh Guidelines On Financial Reporting
Publication Date: 2020-04-24
The Financial Reporting Council of Nigeria has released guidelines on the impact of COVID-19 on financial reporting. The FRC said on its web...
Stock Market Extends Decline, Loses N162bn
Publication Date: 2020-04-24
Activities on the Nigerian Stock Exchange on Thursday closed southwards, extending previous negative sentiment to three consecutive trading session...
UNCTAD Seeks $3.4tn Debt Write-Off For Nigeria and Other African Countries
Publication Date: 2020-04-24
The United Nations Conference on Trade and Development is calling for urgent measures to address the debt burden estimated at $3.4tn in Nigeria and...
US SEC Ends Probe Into Shell, Eni
Publication Date: 2020-04-24
The US Securities and Exchange Commission has ended its investigation into the acquisition of a Nigerian offshore oil block by Royal Dutch Shell an...
India’s Refiner Shuns Nigeria’s Crude Oil In Q1
Publication Date: 2020-04-24
India’s Reliance Industries, owner of the world’s biggest refining complex, saw its imports of Nigerian crude oil slump to zero in the first quarte...
N50bn CBN Loans To SMEs, Others End 2024
Publication Date: 2020-04-24
The Central Bank of Nigeria has set December 31, 2024 exit date for its intervention loans to the Small and Medium Enterprises and households aimed...
Trump, Qatar's Emir Talk Amid Taliban Attacks Across Afghanistan
Publication Date: 2020-04-23
The white house said US President Donald Trump and Qatari leader Emir Sheikh Tamim bin Hamad Al Thani have agreed in a phone call on the importance...
Zoom To Launch New Version Of App
Publication Date: 2020-04-23
Zoom is set to release an improved version of its hugely popular video conferencing app this week. This comes after issues with the company'...
Vietnam Eases Restrictions as Cases Plateau
Publication Date: 2020-04-23
Vietnam eased social distancing measures Thursday, with experts pointing to a decisive response involving mass quarantines and expansive contact tr...
China To Give WHO Extra $30m Following US Freezing Of Funds
Publication Date: 2020-04-23
China announced on Thursday that it will donate another $30 million to the World Health Organization to help the global fight against the coronavir...
South Africa's Rand Gains Higher
Publication Date: 2020-04-23
More in south Africa, Rand gained against the dollar early on Thursday, before President Cyril Ramaphosa speaks later on the phased reopening of th...
SA's Biggest Oil Firm Cuts Executives Pay to Protect Balance Sheet
Publication Date: 2020-04-23
South Africa, Sasol oil said on Thursday that it expects a loss on its Lake Charles Chemicals Project (LCCP) this year and will cut the pay of its ...
Gold Fields' South Deep Output Cut By 32,000 Ounces
Publication Date: 2020-04-23
Gold Fields on Thursday said it expects to lose 32,000 ounces of production at its South African South Deep mine due to a nationwide lockdown. ...
South Africa's Amplats Aims For $211 Million Cost Cutting
Publication Date: 2020-04-23
South Africa’s Anglo-American Platinum (Amplats) said on Thursday it aims to save around 4 billion rand ($211 million) through cost cutting and cap...
Services Sector Drives Ghanaian Economy to a Record High
Publication Date: 2020-04-23
According to the Ghana Statistical Service, Ghana’s economy grew by an estimated 6.5% for 2019 which is the second-highest figure recorded after th...
IMF Approves $363 Mln To Help Congo Fight Coronavirus
Publication Date: 2020-04-23
The International Monetary Fund’s (IMF) Executive Board has approved a disbursement of $363 million under its Rapid Credit Facility to help Democra...
SCA to hear Jacob Zuma’s challenge to funding ruling
Publication Date: 2020-04-23
As Former president Jacob Zuma prepares to finally face the state’s 15-year-old corruption prosecution against him, the Supreme Court of Appeal (SC...
NCDMB Establishes Fresh Palliatives.
Publication Date: 2020-04-23
The Nigerian Content Development and Monitoring Board has established some fresh palliatives for beneficiaries of loans under the Nigerian Content ...
Telcos Battle Congestion, Suspend Porting.
Publication Date: 2020-04-23
Telecommunication operators are struggling to keep up with the rise in voice and data traffic that has led to congestion on all the networks.
FAAC Allocation Rises By N199.36bn To N780bn
Publication Date: 2020-04-23
The allocation to the three tiers of government rose by N199.36bn from N581.56bn shared in February to N780.92bn in March despite the drop in crude...
NNPC Warns Oil Crash May Warrant Production Halt
Publication Date: 2020-04-23
The Nigerian National Petroleum Corporation has declared that Nigeria has not stopped producing crude oil however a persistent crash in oil prices ...
World Bank Projects 20% Decline In 2020 Global Remittances
Publication Date: 2020-04-23
Global payments are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdo...
Facebook Agreed To Censor Posts After Vietnam Slowed Traffic
Publication Date: 2020-04-22
Still on Facebook, the company’s local servers in Vietnam were taken offline early this year, slowing local traffic to a crawl until it agreed to s...
Facebook's Invest $5.7bn On Reliance Jio.
Publication Date: 2020-04-22
Facebook has said it is investing $5.7bn (£4.6bn) in cut-price Indian mobile internet company Reliance Jio, which is owned by the country's richest...
Chinese E-Commerce Giants Alibaba, JD Offer Bookings For COVID-19 Tests
Publication Date: 2020-04-22
Chinese e-commerce giants Alibaba Group and JD.com have announced that they have each launched booking services for COVID-19 tests...
Germany Authorises Clinical Test Of Coronavirus Vaccine.
Publication Date: 2020-04-22
Germany has authorised its first clinical test of a vaccine for the novel coronavirus. This is according to the country’s regulatory body. In a sta...
OPEC Daily Basket Price Stands At $14.63 Per Barrel
Publication Date: 2020-04-22
The daily basket price of oil by the Organisation of the Petroleum Exporting Countries, OPEC, stood at 14.63 U.S. dollars a barrel early Wednesday,...
Toyotas Unit Drops To 20% In South Africa
Publication Date: 2020-04-22
The South African unit of Toyota could see its production drop by around 15-20% in 2020. This is according to the carmaker's president and CEO Andr...
South Africa’s Consumer Price Inflation Slowed To 4.1% Year-On-Year In March
Publication Date: 2020-04-22
South Africa’s headline consumer price inflation slowed to 4.1% year-on-year in March, from 4.6% in February. This is according to data released on...
Rand Firms As South Africa Announces COVID-19 Rescue Package
Publication Date: 2020-04-22
South Africa’s rand firmed against the dollar early on Wednesday after President Cyril Ramaphosa announced a 500 billion-rand rescue package on Tue...
Chamber Of Miners Solicit For Government Intervention.
Publication Date: 2020-04-22
The Zambia Chamber of Mines has urged the government to urgently engage with the sector and agree relief measures to address the issues facing mini...
Egypt To Cut Spending On Fuel Subsidies By 47%
Publication Date: 2020-04-22
A draft of Egypt's 2020/21 budget shows the country plans to cut spending on fuel subsidies by 47% to 28.193 billion Egyptian pounds. The draft bud...
Shippers’ Council Deploys Staff To Terminals, Shipping Firms
Publication Date: 2020-04-22
Nigerian Shippers’ Council, NSC, has assigned some officials to terminal operators and shipping companies in a bid to ensure compliance to health s...
CBN’s Commences N50bn COVID-19 Fund Disbursement
Publication Date: 2020-04-22
The Central Bank of Nigeria is expected to begin disbursement of its 50-billion-naira targeted credit facility on Thursday. The fund, which ...
Federal Government Employs Digital Mode For Palliative Distribution
Publication Date: 2020-04-22
The Federal Government is set to expand the social register for palliative distribution by employing digital models including the use of Bank Verif...
Naira’s 1-yr Currency Forward Posts Biggest Fall in Over 10 Years
Publication Date: 2020-04-22
Nigeria's one-year currency forward posted its biggest fall in more than 10 years on Monday and stocks fell to an eight-year low after the central ...
Nigeria Worried Over Rising Cases of COVID-19 in Kano State
Publication Date: 2020-04-22
The Nigerian Government has expressed concerns over the rising cases of COVID-19 in Kano State.The Minister of State for Health, Dr Olorunnibe Mamo...
­­­­­­­­­­­­­­Ferrari rolls out coronavirus testing to get staff ready for work
Publication Date: 2020-04-21
Workers at Ferrari are signing up in masse for voluntary coronavirus screening so they can return to work as soon as possible in an ambitious schem...
WeWork Directors Defend Right to Represent Shareholders against SoftBank
Publication Date: 2020-04-21
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the...
Huawei Grows Q1 Profit Amid U.S. ban.
Publication Date: 2020-04-21
Huawei Technologies’ revenue growth slowed sharply in the first quarter but the world’s top telecoms equipment supplier labeled the performance as ...
US Regulator Penalizes Utility Company Over 2017/2018 Wildfires
Publication Date: 2020-04-21
A California regulator has asked PG&E Corp (PCG.N) for governance and oversight changes...
Apple Abandoned Snobbish attitude, Now Eyeing African Market
Publication Date: 2020-04-21
Apple Inc on Tuesday said it would expand its App Store, Apple Music and other services to dozens of new markets in Africa, the Middle East and bey...
Facebook bans events that violate social distancing orders
Publication Date: 2020-04-21
Facebook has banned event listings that violate government social distancing policies. On Monday, the social media giant removed the listing...
Trump Shuts off America from the Rest of The World, Suspending Immigration
Publication Date: 2020-04-21
US President Donald Trump said he will sign an executive order to temporarily suspend immigration into the United States, saying he needs to protec...
Prophets of Doom See South African Economy Shrinking in 2020.
Publication Date: 2020-04-21
A Reuters poll on Monday said South Africa’s economy will contract sharply this year as activity is hit by the coronavirus outbreak, despite expect...
Ghana SMEs Agency Asks For Clarity on Accessing GHS600m SME Loan
Publication Date: 2020-04-21
The National Board for Small Scale Industries, NBSSI, has urged the government to quickly come out with modalities required for the disbursement of...
Ghanaian Oil Agency Prepares to shore-up More Reserves
Publication Date: 2020-04-21
The Chamber of Petroleum Consumers, Ghana, (COPEC) is calling on government to help the Bulk Oil Storage and Transport (BOST), get an open credit s...
Nigeria’s Power generation Falls Amidst COVID-19
Publication Date: 2020-04-21
Nigeria’s hydropower plants have seen their output levels tumble in the past few days, causing total power generation to drop below 4,000 megawatts...
Nigerian-based Chinese Firm Nabbed for fraud
Publication Date: 2020-04-21
The African Development Bank Group says it has debarred a civil engineering company registered in Nigeria, China Zhonghao Nigeria Limited, for 18 m...
Nigeria's annual inflation on the Rise Again
Publication Date: 2020-04-21
Nigeria’s annual inflation in March rose for a seventh straight month, the statistics office said on Tuesday, as border closures pushed prices high...
Desperate and Cash Strapped Sellers Dragged Oil Market to the Mud
Publication Date: 2020-04-21
The international oil benchmark, Brent crude, fell to $26 per barrel on Monday, as the demand collapse triggered by the COVID-19 pandemic has cause...
Walt Disney Unable to Pay its Staffs
Publication Date: 2020-04-20
Entertainment giant, Walt Disney, will stop paying more than 100,000 employees from this week as it struggles with coronavirus closures. The world'...
Gunman kills 16 in Canada, Disguising as Police
Publication Date: 2020-04-20
A gunman disguised as a policeman has killed at least 16 people, including a female police officer, in what is believed to be Canada's worst mass s...
New Zealand Eases COVID-19 Induced Restrictions
Publication Date: 2020-04-20
The Prime Minister of New Zealand, Jacinda Ardern, has thanked people for "stopping an uncontrolled explosion of Covid-19", as she announced an e...
Crude Oil Down to 21 Year Low
Publication Date: 2020-04-20
The price of US oil has fallen to a level not seen since 1999, as demand dries up and storage runs out. The price of a barrel of West Texas Interme...
Japan Revises Economic Stimulus Package
Publication Date: 2020-04-20
Japan’s economic stimulus package will be revised to 117.1 trillion yen from 108.2 trillion yen, boosted by the expansion of a cash payout scheme a...
Richard Branson Asks Government for 500 Million Pounds in Financial aid
Publication Date: 2020-04-20
Virgin Group boss, Richard Branson, has written an open letter to the company's employees warning that Virgin Atlantic will collapse unless it rece...
Spain Begs EU for 1.5 Trillion
Publication Date: 2020-04-20
The Spanish government plans to propose to its EU partners that the bloc create a 1.5 trillion euro fund to aid recovery in countries worst-hit by ...
South African Gold Miner Resumes Operations Amidst COVID-19 Outbreak
Publication Date: 2020-04-20
South Africa’s Harmony Gold, on Monday, says it will resume operations by up to 50 percent capacity after the government relaxed regulations on min...
Zambia Engages IMF on Economic Impacts of COVID-19
Publication Date: 2020-04-20
Zambia will hold talks with the International Monetary Fund on the southern Africa’s country request for an economic programme. The country's finan...
Facemask Mandated For Hotel Guest in Nigeria
Publication Date: 2020-04-20
Rivers State chapter of the Federation of Tourism Associations of Nigeria has mandated hotel guests in the state to wear facemasks before they can ...
Kenya’s Safaricom Owns M-Pesa Might Lose 7% of Revenue to COVID-19
Publication Date: 2020-04-20
Kenya’s Safaricom expects a 5.5 billion shilling hit to its revenue from M-Pesa in the three months from mid-march. This is after it adjusted price...
Nigerian Oil Union Suspends Strike Action
Publication Date: 2020-04-20
Rivers State governor, Nyesom Wike, on Friday, had said the Exxon Mobil workers were arrested after entering the state from neighboring Akwa Ibom S...
Doctors Without Borders Looses Worker to COVID-19 in Nigeria
Publication Date: 2020-04-20
Humanitarian agency, Medicins Sans Frontieres, also known as Doctors without Borders, says one of its workers in Borno State has died after contrac...
86 New COVID-19 Cases in Nigeria, Totaling 627 Infections
Publication Date: 2020-04-20
Eighty-six new cases of COVID-19 have been confirmed by the Nigeria Centre for Disease Control, taking the country’s total infections to 627. The N...
Apple CEO Talks Covid-19 Crisis, Return to Work
Publication Date: 2020-04-17
Apple Inc. Chief Executive Officer Tim Cook led a companywide virtual meeting on Thursday to address concerns about the impact of Covid-19 and disc...
Cathay Pacific to close U.S. cabin crew bases, laying off 286 staff
Publication Date: 2020-04-17
Hong Kong’s Cathay Pacific Airways Ltd said on Friday that it will close its three cabin crew bases in the United States, laying off 286 staff as t...
Amazon France CEO hopes can reopen warehouses soon
Publication Date: 2020-04-17
The head of its French business said on Friday that Amazon do not know when its warehouses in France might reopen but hopes it can be soon. ...
Millions unemployed as coronavirus ravages U.S. economy
Publication Date: 2020-04-17
A record of 22 million Americans have sought unemployment benefits over the past month, with millions more filing claims last week, almost wiping o...
Trump Lays Out Guidelines to Reopen America's Economy
Publication Date: 2020-04-17
U.S. President Donald Trump laid out new guidelines on Thursday for states to emerge from a coronavirus shutdown in a staggered, three-stage approa...
EU helps protect weak firms from foreign takeovers
Publication Date: 2020-04-17
The EU plans to help block foreign takeovers of European companies struggling with the virus downturn. It wants to allow governments to inve...
China's virus-hit economy shrinks for first time in decades
Publication Date: 2020-04-17
China's economy shrank for the first time in decades in the first quarter of the year, as the virus forced factories and businesses to close.
Portugal's BCP pursues Mozambique in latest case over $2 bln debt scandal
Publication Date: 2020-04-17
Banco Comercial Portugues (BCP) has taken legal action against Mozambique, becoming the latest bank to pursue the heavily indebted East African sta...
South Africa to allow mines to operate at 50% capacity during lockdown
Publication Date: 2020-04-17
Government regulators on Thursday announced that South Africa will allow mines to operate at 50% capacity during a nationwide lockdown to curb the ...
GSA partners FDA to ensure production of standardized PPE locally
Publication Date: 2020-04-17
The Ghana Standards Authority, GSA, says it is collaborating with the Food and Drugs Authority, FDA, to ensure that all Personal Protective Equipme...
Halt demurrage and rent charges at the ports
Publication Date: 2020-04-17
The Ghana Union of Traders’ Associations, is calling on government to refrain from claiming ‘demurrage and rent charges’ at the country’s ports dur...
South African rand stronger at end of torrid week
Publication Date: 2020-04-17
South Africa’s rand was stronger on Friday, reflecting optimism over signs of success in a COVID-19 treatment drug trial and early plans to reopen ...
Chevron debunks rumors of employee contracting COVID-19
Publication Date: 2020-04-17
Chevron Nigeria Limited has debunked reports that it quarantined some of its workers suspected of contracting coronavirus in a hotel in Warri, Delt...
Gencos, Discos deny knowledge of N200bn payment
Publication Date: 2020-04-17
Power generation and distribution companies have denied knowledge of 200 billion naira being paid to the power sector by the Federal Government. Th...
Independent National Electoral Commission headquarters in Nigeria gutted by fire
Publication Date: 2020-04-17
A section of the headquarters of the Independent National Electoral Commission has been gutted by fire. The National Commissioner in charge of Info...
South Africa's rand falls as deep recession fears weigh
Publication Date: 2020-04-16
South Africa’s rand fell early on Thursday, as concerns of a deep economic downturn due to the COVID-19 pandemic rattled already shaky risk appetit...
Nigeria, South Africa, others lose $4.2bn, says IMF
Publication Date: 2020-04-16
The International Monetary Fund disclosed in its latest Regional Economic Outlook for sub-Saharan Africa that the COVID-19 pandemic has resulted in...
MTN top executives donate part of salaries towards staff relief package
Publication Date: 2020-04-16
Top executives at South Africa’s MTN Group have pledged nearly a third of their salaries and fees for the next three months to finance a 40 million...
Deloitte appoints Daniel Kwadwo Owusu as new Country Managing Partner
Publication Date: 2020-04-16
Deloitte Ghana has appointed Daniel Kwadwo Owusu as its new Country Managing Partner. A press statement issued by the firm, stated that, Dan...
CUTS Ghana demands for reduced Electricity tariffs
Publication Date: 2020-04-16
Research and Public Policy Think Tank, CUTS Ghana, which has petitioned the Public Utilities Regulatory Commission,(PURC) to reduc...
Stock market sustains uptrend, investors gain N344bn
Publication Date: 2020-04-16
The Nigerian Stock Exchange on Wednesday maintained its uptrend of gains, extending positive sentiment to five consecutive trading sessions, with a...
IMF head calls for Brexit trade talk extension
Publication Date: 2020-04-16
The IMF has suggested the UK and the EU should "not to add to uncertainty" from coronavirus by refusing to extend the period to negotiate a post-...
Amazon shuts French warehouses after court ruling
Publication Date: 2020-04-16
Amazon is going to temporarily close its six warehouses in France after a court ordered it to stop all but essential deliveries. An internal...
Google to slow hiring for rest of 2020.
Publication Date: 2020-04-16
Chief Executive Officer Sundar Pichai told the company’s staff in a memo on Wednesday said Alphabet Inc’s (
Brent erases tentative gains, WTI ticks up after U.S. stockpile surge
Publication Date: 2020-04-16
Oil prices were broadly stable on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in U.S. inventorie...
Oil Giant Shell Vows to Become Carbon Neutral By 2050
Publication Date: 2020-04-16
Anglo-Dutch oil giant Royal Dutch Shell pledged to become carbon neutral by 2050, matching a commitment by rival BP as climate change looms large o...
European Equities Rebound at market Opening
Publication Date: 2020-04-16
Europe’s stock markets rallied in opening deals on Thursday, despite losses elsewhere, as investors focused on plans to ease coronavirus lockdown r...
Apple's new budget iPhone unlikely to make splash in China
Publication Date: 2020-04-16
Apple Inc’s new iPhone SE for the budget-conscious is unlikely to be a major driver of sales in China, with analysts noting it lacks the 5G capabil...
Federal Government of Nigeria pays N200bn to offset Gencos’ gas bill
Publication Date: 2020-04-16
The Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari disclosed that the Federal Government has paid over N200bn for pow...
IMF says Nigeria’s economy will contract by 3.4%
Publication Date: 2020-04-16
The International Monetary Fund said the recession caused by the COVID-19 pandemic would be the worst economic downturn witnessed since the Great D...
The Federal Government of Nigeria sacks contractors over delay in cash disbursements
Publication Date: 2020-04-16
The Federal Government has ordered the termination of contracts of two Payment Service Providers for their failure to begin the Conditional Cash Tr...
Tunisia govt seeks loan guarantee to issue bonds to revive tourism
Publication Date: 2020-04-16
An official document released shows the Tunisia government seeks a loan guarantee from bilateral partners to issue sovereign bonds this year.
80,000 apply for CBN’s N50bn COVID-19 intervention fund
Publication Date: 2020-04-16
The Managing Director, NIRSAL Microfinance Bank, Mr. Abubakar Kure, confirmed that over 80,000 applications have been received from businesses and ...
First National Bank cuts interest rate by 2% to alleviate impact of COVID-19
Publication Date: 2020-04-16
First National Bank Ghana Limited has announced a 2% interest rate cut on loans to all existing customers from 01 April 2020 for the length of time...
Coronavirus 'Great Lockdown' will shrink global economy by 3% in 2020
Publication Date: 2020-04-16
The International Monetary Fund said the global economy is expected to shrink by 3.0% during 2020 in a stunning coronavirus-driven collapse of acti...
Shares in South Africa's Nedbank fall over 9% as it withdraws 2020 guidance
Publication Date: 2020-04-16
Shares in South African lender Nedbank fell over 9% at market open on Wednesday, a day after the lender withdrew its financial guidance for 2020 an...
Oil Prices Slump as IEA Foresees Hefty Demand Drop
Publication Date: 2020-04-16
The International Energy Agency on Wednesday said Global oil demand is likely to drop by a record 9.3 million barrels per day in 2020 as the Covid-...
Amazon boss Jeff Bezos adds $24bn to fortune
Publication Date: 2020-04-16
The founder and boss of Amazon wealth swell by $24bn (£19bn) after soaring demand for online shopping sent the firm's share price to a new high.
US airlines to receive $25bn rescue package
Publication Date: 2020-04-16
The US has agreed a roughly $25bn (£19.8bn) rescue package for 10 of the country's biggest airlines as travel plunges due to the coronavirus.
IMF board approves emergency support for Burkina Faso, Niger
Publication Date: 2020-04-16
The International Monetary Fund’s (IMF) Executive Board has approved support for Burkina Faso and Niger under its Rapid Credit Facility to help the...
SoftBank record loss estimate renews asset sale focus
Publication Date: 2020-04-14
SoftBank Group Corp’s estimate it will post a record $13 billion full-year loss, dragged down by its spluttering $100 billion Vision Fund, has rene...
Food companies sued over restaurant prices amid pandemic
Publication Date: 2020-04-14
GrubHub, DoorDash, Postmates and Uber Eats were sued on Monday for allegedly exploiting their dominance in restaurant meal deliveries to impose fee...
Amazon fires two employees criticizing working conditions
Publication Date: 2020-04-14
Amazon.com Inc (AMZN.O) said on Tuesday it terminated two employees, who criticized the wo...
Apple shipped 2.5 million iPhones in China in March
Publication Date: 2020-04-14
Apple Inc (AAPL.O) shipped roughly 2.5 million iPhones in China in March, a slight rebound...
Exxon raises $9.5 billion to load up on cash
Publication Date: 2020-04-14
Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to boost its finances while debt markets rem...
IMF approves $1 bln in emergency aid for Ghana, $442 mln for Senegal
Publication Date: 2020-04-14
The International Monetary Fund on Monday said its executive board had approved $1 billion in emergency funding for Ghana and $442 million for Sene...
President Ramaphosa Appoints Okonjo-Iweala As Special Envoy Of African Union
Publication Date: 2020-04-14
The Chairperson of the African Union, President of the Republic of South Africa His Excellency Cyril Ramaphosa has appointed Dr Ngozi Okonjo-Iweala...
South African central bank announces surprise rate cut
Publication Date: 2020-04-14
South Africa’s central bank reduced its main lending rate by another 100 basis points on Tuesday, to a record-low 4.25%, after moving forward its m...
IMF Approves Debt Relief For 25 Poor Countries
Publication Date: 2020-04-14
The International Monetary Fund on Monday announced immediate debt relief for 25 poor countries to help them free up funds to fight the coronavirus...
South Africa's rand firms as Chinese trade data lifts riskier currencies
Publication Date: 2020-04-14
South Africa’s rand firmed against the dollar early on Tuesday, in line with a rally in riskier currencies as China’s trade data painted a less glo...
Nigeria to earn $10.61bn in eight months from crude oil cut
Publication Date: 2020-04-14
Analyst has shown that Nigeria may earn about $10.61bn from crude oil sales between May and December this year following latest decision by members...
Oil hovers around $31 despite OPEC+ cut deal
Publication Date: 2020-04-14
The international oil benchmark, Brent crude, was shaken on Monday, despite the historic oil production cut deal sealed by the Organisation of Petr...
CBN set criteria’s on accessing the N50bn COVID-19 intervention fund
Publication Date: 2020-04-14
The Central Bank of Nigeria says interested stakeholders must meet its set criteria to access its N50bn intervention loans for small and medium sca...
Shell lifts force majeure on Nigeria’s Forcados oil exports
Publication Date: 2020-04-14
Shell has lifted the force majeure on exports of Nigeria’s Forcados crude oil, one of the nation’s largest crude oil grades, following the reopenin...
Brent Oil benchmark drops 2% despite output cut
Publication Date: 2020-04-13
Oil prices turned negative on Monday, erasing gains made after major producers agreed record global output cuts, pressured by concerns that the cut...
World Bank says South Asia faces worst economic performance in 40 years.
Publication Date: 2020-04-13
The World Bank has said South Asia faces its worst economic performance in 40 years because of the coronavirus. According to the bank, the effects ...
Asian equity fell with doubt over oil prices
Publication Date: 2020-04-13
Asia markets fell Monday with investors cautious on news of an international deal to shore up oil prices. Tokyo closed 2.3 percent lower on ...
ADB to support member nations’ fight against coronavirus with $20bn dollar package
Publication Date: 2020-04-13
The Asian Development Bank, on Monday, said it will roll out a 20 billion dollar package to help developing member nations weather the economic fal...
Sudan's health minister wants $120m to fight coronavirus
Publication Date: 2020-04-13
Sudan's health minister, Akram Ali Altom, says the country urgently needs 120 million dollars to fight the coronavirus. The minister's comments com...
Sibanye-Stillwater to restart mining at South Africa.
Publication Date: 2020-04-13
Mining company, Sibanye-Stillwater, says it could restart limited mining at its South African operations after a nationwide lockdown to stem the sp...
African Union appoints ex-Credit Suisse boss as envoy for virus support
Publication Date: 2020-04-13
The African Union has appointed former Credit Suisse boss Tidjane Thiam and several other dignitaries as a special envoy to solicit international s...
Melinda Gates warns of devastating effects of coronavirus on Africa
Publication Date: 2020-04-13
Melinda Gates, wife of billionaire Bill Gates, has warned that if the world does not act fast enough, then there will be dead bodies all over the s...
Morocco arrests 4,300 people for violating emergency rules
Publication Date: 2020-04-13
More than 4,300 people were arrested over the weekend in Morocco for breaching emergency rules in place to combat the novel coronavirus. According ...
Bond prices to rise further as N253bn inflow boosts interbank liquidity
Publication Date: 2020-04-13
The two weeks upward trend in bond prices is expected to persist this week even as inflow of 253 billion naira boosts liquidity in the interbank mo...
Petrol price could further drop by N8 litre
Publication Date: 2020-04-13
Operators in the downstream oil sector have said the pump price of petrol could drop further by between 5 and 8 naira per litre. According t...
Diaspora remittances in Nigeria forecasted to drop by 20%
Publication Date: 2020-04-13
Nigeria could see a slowdown in diaspora remittances for the first time in over a decade amid global economic crisis fuelled by coronavirus outbrea...
Nigeria begins digitization of Conditional Cash Transfer programme
Publication Date: 2020-04-13
The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, says Nigeria has started the digitisation of ...
Amazon set to build personal Coronavirus testing lab
Publication Date: 2020-04-10
Retail giant Amazon says it will build its own coronavirus testing lab to monitor the health of its staff. This comes as the company said it had as...
US stocks records high gain
Publication Date: 2020-04-10
US stocks have just recorded their biggest weekly gain since 1974 despite the bleak economic outlook. Markets were lifted by comments from Anthony ...
EU finance ministers agreed 500-bln-euro rescue package for COVID-19 hit countries
Publication Date: 2020-04-10
EU finance ministers have agreed a 500-billion-euro rescue package for European countries hit hard by the coronavirus pandemic. The chairman of the...
Singapore suspends use of Zoom
Publication Date: 2020-04-10
Singapore has suspended the use of video-conferencing tool Zoom by its teachers, after a "very serious incident" during a home-based lesson. ...
Air Zimbabwe sends staff on unpaid leave
Publication Date: 2020-04-10
Zimbabwe's embattled national airline is to send some of its staff on indefinite unpaid leave later this month following a drop in revenue caused b...
South Africa’s Standard Bank to pay 2019 dividend of 540 cents per share
Publication Date: 2020-04-10
South Africa’s Standard Bank says it would pay its 2019 dividend of 540 cents per share. This comes after the central bank clarified that guidance ...
Absa Bank Kenya ordered to stop foreign exchange dealing
Publication Date: 2020-04-10
Meanwhile, Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe an...
Kenya central bank to hold rate-setting meeting on April 27
Publication Date: 2020-04-10
The Kenyan central bank’s Monetary Policy Committee. on Friday, says it will hold its next rate-setting meeting on April 27. At its last mee...
Bank of Ghana offers $25 million to forex dealers
Publication Date: 2020-04-10
The Bank of Ghana in its latest auction of forex, accepted $25 million in bids. This represents 31.74% of the total amount of $78.75 million...
Health personnel provided life insurance
Publication Date: 2020-04-10
The National Insurance Commission has commended insurance companies for their initiative to voluntarily support the fight against COVID-19 pandemic...
Shell declares force majeure on exports of Nigerian Forcados crude oil
Publication Date: 2020-04-10
Shell has declared a force majeure on exports of Nigerian Forcados crude oil after a shutdown by the pipeline’s operator. A spokesperson for Shell ...
COVID-19 case rise to 288 in Nigeria
Publication Date: 2020-04-10
The Nigeria Centre for Disease Control has confirmed 14 new cases of coronavirus in the country. This brings the total number of COVID-19 infection...
Lagos state government set to review 2020 budget
Publication Date: 2020-04-10
Meanwhile, the Lagos State Government has disclosed plans to review the 2020 budget of 1.168 trillion naira following the current economic challeng...
President Buhari calls for hope in Easter message
Publication Date: 2020-04-10
President Muhammadu Buhari has urged Nigerians to remain faithful and hopeful as the nation fights the curb the spread of coronavirus in the countr...
Lagos denies relaxing lockdown over Easter celebration
Publication Date: 2020-04-10
Lagos has denied relaxing the lockdown in the state as the Easter celebration starts this weekend. The State Commissioner for Information and Strat...
Sovereign Wealth Fund to drops to $201m after $150m withdrawal’
Publication Date: 2020-04-10
The Nigeria Sovereign Investment Authority says the plan by the Federal Government to withdraw 150 million dollars from the Sovereign Wealth Fund w...
Hungarian Forint Leads Central Europe FX Gains
Publication Date: 2020-04-09
The Hungarian forint hit a two-week high on Thursday, leading Central European currency gains, boosted by the central bank saying it could raise th...
Prague aims to get a grip on Airbnb with coronavirus crisis laws
Publication Date: 2020-04-09
Officials in Prague are using the coronavirus crisis to get a firmer grip on short-term rentals like Airbnb, which they say have squeezed locals ou...
Google to pay French news and publishing firms for plagiarism
Publication Date: 2020-04-09
France's competition authority issued a ruling on Thursday that Google (NASDAQ:GOOGL)...
U.S. Senate tells members to avoid Zoom over data security concerns
Publication Date: 2020-04-09
The U.S. Senate has told its members to not use Zoom's video conferencing app due to data security concerns, the Financial Times reported on Thursd...
European companies ditch dividends to save cash
Publication Date: 2020-04-09
European companies are ditching dividends to maintain cash and comply with regulations in response to the financial havoc caused by the spread of t...
UBS and Credit Suisse to regulator pressure on dividends
Publication Date: 2020-04-09
Swiss banks UBS (UBSG.S) and Credit Suisse (
Tesla's China sales hit record high in March
Publication Date: 2020-04-09
Tesla Inc sold 10,160 vehicles in China in March, its highest ever monthly sales in the world’s largest auto market, the China Passenger Car Associ...
South Africa's Standard Bank reaffirms payment of 2019 dividend
Publication Date: 2020-04-09
South Africa’s Standard Bank said on Thursday it would pay its 2019 dividend of 540 cents per share, after the central bank clarified that guidance...
Regulator penalises Absa Bank Kenya over anti-money-laundering
Publication Date: 2020-04-09
Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti-money-la...
Discos offer Nigerians two-month free electricity
Publication Date: 2020-04-09
Power distribution companies on Wednesday announced that they were in support of the proposal by the National Assembly and the Federal Executive ar...
Stock market extends gain by N77bn
Publication Date: 2020-04-09
Nigerian stocks on Wednesday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by...
NUPENG request for refineries to be fixed before petrol subsidy removal
Publication Date: 2020-04-09
The National Union of Petroleum and Natural Gas Workers has said any deregulation in the petroleum sector that is still dependent on importation of...
Global stocks turn negative as virus death toll mounts
Publication Date: 2020-04-08
World stocks turned negative on Wednesday as the coronavirus death toll mounted and euro zone finance minister failed to agree a rescue package to ...
Zoom sued for not disclosing privacy and security flaws
Publication Date: 2020-04-08
Zoom Video Communications Inc is being sued by one of its shareholders accusing the video-conferencing app of overstating its privacy standards and...
81% of the global workforce out of work
Publication Date: 2020-04-08
A total of 81 percent of the global workforce of 3.3 billion people have had their workplace fully or partly closed. This is according to the Inter...
GUTA commends Gov’t on GHS600m loan support scheme for SMEs
Publication Date: 2020-04-08
The Ghana Union of Traders, GUTA, says it is looking forward to clarity from government on the modalities for the disbursement of the GHS600 millio...
Kenya's national growth slows by 3%
Publication Date: 2020-04-08
Kenya’s finance minister, Ukur Yatani, says the nation's economic growth will slow to 3 percent or less this year from an earlier forecast of 6.1 p...
South Africa's rand weakens as virus worries dent rally
Publication Date: 2020-04-08
South Africa’s rand weakened early on Wednesday, ending a recent rally with risk sentiment souring as hopes that the coronavirus crisis in Europe a...
South Africa's Sasol cuts production, sales target
Publication Date: 2020-04-08
South African petrochemicals giant, Sasol Ltd, has said on Wednesday that it will cut its guidance for synthetic fuel production and liquid fuel sa...
Ethiopia declares state of emergency
Publication Date: 2020-04-08
Ethiopia’s prime minister, Abiy Ahmed, has declared a state of emergency in the country to help curb the spread of the new coronavirus, his office ...
Nigeria's request for 3.4 billion to be considered by IMF
Publication Date: 2020-04-08
Meanwhile, the International Monetary Fund says it is considering Nigeria’s request for 3.4 billion dollars in emergency financing to combat the im...
World Bank supports Nigeria with N31.2bn
Publication Date: 2020-04-08
The World Bank has announced a 31.2 billion naira support for Nigeria’s fight against the COVID-19 pandemic. In a statement, the bank said i...
Naira to experience more pressure
Publication Date: 2020-04-08
A report has shown that the naira will experience more pressure due to slump in the crude oil prices, and as the economy grapples with challenges f...
Nigeria's Treasury house on fire
Publication Date: 2020-04-08
The Treasury House at the Federal Capital Territory, Abuja, is on fire. Presently, efforts were being made to put out the flames. It ...
Crude oil demand drops by 6.8 million barrel in Nigeria
Publication Date: 2020-04-08
The Nigerian National Petroleum Corporation says demand for Nigeria’s crude oil in March dropped by 6.8 million barrels due to the COVID-19 pandemi...
Death-toll from COVID-19 in Nigeria rises to 7
Publication Date: 2020-04-08
Nigeria has recorded another death from the deadly COVID-19 virus. This puts the total death-toll from the virus at seven. The Lagos State Commissi...
US car insurers refund drivers stuck at home
Publication Date: 2020-04-07
A major car insurer in the US is refunding millions of dollars to customers stuck at home during coronavirus lockdowns. Allstate, the countr...
Japan set to announce coronavirus emergency
Publication Date: 2020-04-07
Japanese Prime Minister Shinzo Abe is set to announce a state of emergency on Tuesday for the capital Tokyo and six other prefectures to stem a wor...
Exxon cuts spending by 30%
Publication Date: 2020-04-07
Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree in shale, LNG and deep water oil production and will cut planned capital s...
South African bank stocks fall over 4%
Publication Date: 2020-04-07
South Africa’s banking index opened 4.3% lower on Tuesday, a day after the country’s central bank said it had advised lenders not to pay dividends ...
South Africa’s Standard Bank considering central bank guidance on dividends
Publication Date: 2020-04-07
Africa’s biggest lender by assets Standard Bank said on Tuesday it would consider guidance from South Africa’s central bank asking lenders not to p...
South African Banks Urged to Withhold Future Dividends.
Publication Date: 2020-04-07
South Africa is urging its banks to withhold ordinary dividends and executive bonuses for 2020 to preserve capital as the economic fallout from the...
VW plans to partially reopen plant in Spain's Navarra on April 20
Publication Date: 2020-04-07
German carmaker Volkswagen hopes to partially reopen its plant in Spain’s Navarra region on April 20 after its closure in mid-March due to the coro...
Samsung Defies Depressed Global Economy, Beats Q1 Earnings' Expectation
Publication Date: 2020-04-07
Samsung Electronics said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip s...
Nigeria asks multilateral lenders to fund coronavirus fight
Publication Date: 2020-04-07
The finance minister, Zainab Ahmed said Nigeria has requested a total of $6.9 billion from the International Monetary Fund (IMF), World Bank and Af...
Jack Ma donates 500 ventilators to Nigeria, other African countries
Publication Date: 2020-04-07
Nigeria and fifty-three other African countries would receive 500 ventilators donated by Ali Baba Foundation to African Union Member States.
WHO Warns Against Using Africa as an Experimental Ground For Vaccine
Publication Date: 2020-04-07
The World Health Organisation (WHO) chief, Tedros Ghebreyesus has dismissed as “racist” a suggestion by some scientists that the coronavirus vaccin...
NNPC says Petrol subsidy has been scrapped forever.
Publication Date: 2020-04-07
The Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, on Monday said that he era of subsidy on petrol is gone forever,
Oil falls to $32 as OPEC+ postpones meeting
Publication Date: 2020-04-07
The international oil benchmark, Brent crude, fell on Monday after Saudi Arabia and Russia postponed a meeting to discuss output cuts that could he...
Japan to declare state of emergency to stop coronavirus.
Publication Date: 2020-04-06
Japan will declare a state of emergency as early as Tuesday in a bid to stop the coronavirus. This comes as the government is preparing a stimulus ...
South African regulator ICASA release broadband spectrum
Publication Date: 2020-04-06
South African telecoms regulator, ICASA, has announced an emergency release of broadband spectrum to meet a spike in internet usage due to the COVI...
South African Rand at a Record Low Against the Greenback
Publication Date: 2020-04-06
South Africa’s rand weakened early on Monday, sliding to a record low, after ratings agency Fitch cut the country’s credit rating on Friday. The So...
SARB says South Africa’s economy could shrink by as much as 4% in 2020
Publication Date: 2020-04-06
South Africa’s central bank slashed its growth forecasts on Monday, predicting the economy could shrink by as much as 4% in 2020. This is due to th...
AU study says about 20 million jobs are at risk in Africa
Publication Date: 2020-04-06
A study by the Africa Union has shown that about 20 million jobs are at risk in Africa as the continent’s economies are projected to shrink this ye...
Top Malawi officials to give 10% of salary to tackle COVID-19
Publication Date: 2020-04-06
Malawi’s president and cabinet will take a 10 percent salary cut and redirect the money towards the fight against coronavirus. President Peter Muth...
Egypt's non-oil private sector activity indicates faster rate in March
Publication Date: 2020-04-06
A survey has shown that Egypt’s non-oil private sector activity contracted at a far faster rate in March than in February as the coronavirus-induce...
Egypt postpones launch of mega-project
Publication Date: 2020-04-06
Egypt has postponed the launch of mega-projects including the grand Egyptian Museum. President Abdel Fattah al-Sisi made the announcement over the ...
Tunisia’s annual inflation rate rises to 6.2%
Publication Date: 2020-04-06
Tunisia’s annual inflation rate rose to 6.2 percent in March. This is according to official data released on Sunday. It is the first rise in six mo...
Funke Akindele and husband pleads guilty
Publication Date: 2020-04-06
Nollywood Actress, Funke Akindele and her husband, AbdulRasheed Bello popularly known as JJC Skillz, have pleaded guilty to one-count of hosting a ...
Nigeria Governor Forum Urges Federal Government to Cancel All Fund Deduction
Publication Date: 2020-04-06
Members of the Nigeria Governors Forum have urged the Federal Government to cancel all funds deductions from states. The governors also asked the C...
Banks in Nigeria earn 212.66bn from investments in technology in 2019
Publication Date: 2020-04-06
Nigerian banks earned 212.66 billion naira in 2019 via increased investment in technology and introduction of new online payment channels. An analy...
Nigeria and UN launch One COVID-19 Basket Fund
Publication Date: 2020-04-06
Nigeria and the United Nations, on Monday, launched the COVID-19 Basket Fund to harmonise investments for the National Pandemic Response Plan. The ...
Central Bank to suspend all state deductions and restructure debt service payments
Publication Date: 2020-04-03
The Nigerian Governors' Forum has called on the Central Bank to suspend all funds deductions from states and restructure their debt repayments. The...
Google Allocates $6.5m To Tackle Fake News On COVID-19
Publication Date: 2020-04-03
Google says it is pumping 6.5 million dollars into fact-checkers and nonprofits as it ramps up the battle against coronavirus misinformation.
Nigerian airlines lose 760 million to COVID-19 pandemic
Publication Date: 2020-04-03
The International Air Transport Association says Nigerian airlines have airlifted 3.5 million fewer passengers resulting in a 760-million-dollar re...
OPEC-Plus contemplate cutting global supply
Publication Date: 2020-04-03
The OPEC-Plus crude oil exporter group is debating cutting global supply by 10 million barrels per day as further cuts must include producers from ...
United Nations negotiate with South Africa on free food flow to African countries
Publication Date: 2020-04-03
The United Nations food agency has negotiated a humanitarian corridor to keep food aid flowing in southern Africa after many countries shut their b...
Ethiopia signs 800 million dollars power purchase agreement
Publication Date: 2020-04-03
Ethiopia has signed a power purchase agreement worth 800 million dollars with the developers of a 150 MegaWatt geothermal plant. In a tweet,...
South African private sector activity falls to record low in March
Publication Date: 2020-04-03
A business survey has shown the South African private sector activity fell to a record low in March, as the global coronavirus pandemic led to the ...
Rwanda secures $109 million IMF loan to tackle coronavirus
Publication Date: 2020-04-03
Rwanda has secured a $109.4 million in emergency coronavirus funding from the International Monetary Fund, the first African country to do so. ...
IMF says Zimbabwe needs urgent aid
Publication Date: 2020-04-03
The International Monetary Fund has warned that Zimbabwe needs urgent aid as the coronavirus exacerbates the impact a food shortage following the w...
Nigerian Custom intercepts goods worth 200 million naira in katsina state
Publication Date: 2020-04-03
Ten different items with a Duty Paid Value of over 200 million naira have been intercepted in Katsina state by the state Customs Area Command. The ...
Ebonyi Governor Signs COVID-19 Bill into Law
Publication Date: 2020-04-03
Ebonyi State Governor, Dave Umahi, has signed the State COVID-19 and other Dangerous Infectious Diseases and Related Matters bill into law. ...
Akwa ibom state Governor Announces 14 Days Total Lockdown
Publication Date: 2020-04-03
Following the recent confirmed case of COVID- 19 in the state, Akwa-Ibom State Governor, Udom Emmanuel has announced a total lockdown of the state ...
Nigeria’s COVID-19 Cases Rise To 190
Publication Date: 2020-04-03
Nigeria has recorded six new COVID-19 infections as the total cases have risen to 190. The Nigeria Centre for Disease Control (NCDC) confirm...
Twitter removes accounts linked to Egypt, Saudi Arabia, other countries
Publication Date: 2020-04-02
Twitter took down thousands of accounts linked to Egypt, Honduras, Indonesia, Saudi Arabia and Serbia on Thursday for either taking directions from...
Israel Health Minister Contracts COVID-19, Netanyahu Re-enters Quarantine
Publication Date: 2020-04-02
Israeli Health Minister Yaakov Litzman, a leading member of the ultra-Orthodox Jewish community, has tested positive for COVID-19, forcing Prime Mi...
Emirates to resume limited passenger flights
Publication Date: 2020-04-02
Emirates Airline on Thursday said it is to resume a limited number of outbound passenger flights from April 6, less than two weeks after its corona...
SpaceX bans video-conferencing app Zoom over privacy concerns
Publication Date: 2020-04-02
Elon Musk's rocket company SpaceX has banned its employees from using video-conferencing app Zoom, citing significant privacy and security concerns...
AfDB to Support Agri-Business Against COVID-19 Pandemic
Publication Date: 2020-04-02
The Managing Director of AfDB Bank, Dr. John Kofi Mensah, has announced that the bank by the end of this week will announce a support package for a...
Togo Declares State Of Emergency Over COVID-19
Publication Date: 2020-04-02
President Faure Gnassingbe of Togo has declared a three-month “state of emergency” and curfew aimed at stopping the spread of coronavirus. T...
African governments team up with tech giants to fight Coronavirus rumors
Publication Date: 2020-04-02
Governments across Africa are teaming up with technology giants including Facebook and WhatsApp to fight misinformation about coronavirus on social...
Danjuma Inaugurates Task Force For Victim Support Fund (VSF)
Publication Date: 2020-04-02
The Chairman of the Victims Support Fund, General Theophilus Yakubu Danjuma (rtd) has inaugurated the Victim Support Fund (VSF) Task Force on COVID...
FG asks US billionaire for ventilators on Twitter
Publication Date: 2020-04-02
The Federal Government has come under attack for going on social media to plead with United States billionaire, Elon Musk, for ventilators to tackl...
Kenya airline seeks financial aid from government
Publication Date: 2020-04-01
Kenya Airways has sought an undisclosed amount of cash from the government to help it cover critical costs such as payment of staff salaries. Chair...
Samancor Chrome declares force majeure
Publication Date: 2020-04-01
Samancor Chrome, one of the world’s biggest ferrochrome producers, has declared force majeure because of South Africa’s 21-day coronavirus lockdown...
South Africa advised to seek fund from IMF
Publication Date: 2020-04-01
The Institute of International Finance has advised South Africa to seek funding from the International Monetary Fund given its high debt levels, la...
Nigeria delays planned increase in electricity tariff
Publication Date: 2020-04-01
Nigeria's Power Minister, Sale Mamman, says the country will postpone, by at least three months, planned electricity tariff increases as its citize...
Taraba state Government orders closure of markets and worship center
Publication Date: 2020-04-01
Taraba State government has ordered the closure of all markets, shops and worship centres in the state to prevent the spread of COVID-19. The shutd...
NNPC seeks smooth movement of petroleum tankers
Publication Date: 2020-04-01
Meanwhile, the Nigerian National Petroleum Corporation has appealed to law enforcement agencies across the country to allow free movement of petrol...
Federal Government of Nigeria reduces petrol price to N123.5 per liter
Publication Date: 2020-04-01
The Federal Government has reduced the price of petrol from 125 naira per litre to 123 naira, 50 kobo per litre. This is a 1 naira 50 kobo reductio...
Coronavirus cases in Nigeria rises to 151
Publication Date: 2020-04-01
The Nigeria Centre for Disease Control has confirmed 12 new cases of COVID-19, raising the total number of cases to 151. The agency says nine of th...
Videoconferencing App popularity soars
Publication Date: 2020-04-01
The videoconferencing app, Zoom, has come under a fresh high-level scrutiny as its popularity soars during the coronavirus pandemic. New York's att...
Stock Market suffers historical loss
Publication Date: 2020-04-01
Stock markets around the world suffered historic losses in the first three months of the year amid a massive sell-off tied to the coronavirus. ...
Britain’s banking sector scraps billions of dollars in shareholder dividends.
Publication Date: 2020-04-01
Britain’s banking sector has scrapped billions of dollars in shareholder dividends and share buybacks after the Bank of England requested the move ...
Paris Club agrees to restructure Somalia’s debt
Publication Date: 2020-04-01
The Paris Club of creditor nations has agreed to restructure Somalia’s debt, including immediately canceling 1.4 billion dollars owed by the countr...
Zambia in need of financial advisers to stable economy
Publication Date: 2020-04-01
Zambia's finance minister, Chileshe Kandeta, says the country is looking for financial advisors to help ensure the sustainability of its debt and m...
Naira plunges further, dollar sells for N412
Publication Date: 2020-03-31
The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market. This followed a temporary suspension of sale of forex...
Microsoft clarifies Teams usage surged 775% in Italy
Publication Date: 2020-03-31
Microsoft Corp (MSFT.O) said it has seen a 775% jump in a month for Teams calling and meet...
Huawei's revenue tops $223 billion
Publication Date: 2020-03-31
Huawei Technologies reported a dramatic slowdown in the second half of 2019 on Tuesday, weighed down by U.S. restrictions on the Chinese telecom gi...
#Covid19LockDown: Global M&A Crashes to a Record Low
Publication Date: 2020-03-31
Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the...
American Airlines Seeks $12bn in Aid
Publication Date: 2020-03-31
American Airlines has confirmed it will seek $12bn (£9.7bn) of financial support from the US government because of the impact of coronavirus.
Ford, GE to produce 50,000 ventilators in 100 days
Publication Date: 2020-03-31
Ford Motor Co said on Monday it will produce 50,000 ventilators over the next 100 days at a plant in Michigan in cooperation with General Electric’...
South Africa's Standard Bank withdraws guidance over coronavirus
Publication Date: 2020-03-31
Standard Bank on Tuesday withdrew its financial guidance citing uncertainty caused by the coronavirus which has forced South Africa into a 21-day l...
Deadline for payment service providers extended by 6-months
Publication Date: 2020-03-31
The Bank of Ghana has officially extended by 6 months, the deadline for meeting the new minimum capital requirements by all existing Payment Servic...
South Africa's Harmony Gold expects less gold production during lockdown
Publication Date: 2020-03-31
Harmony Gold Mining Company said on Tuesday that it expects limited gold production during the 21-day lockdown in South Africa in the wake of the f...
Oil price plunges to $22, lowest in 18 years
Publication Date: 2020-03-31
The international oil benchmark, Brent crude, plunged to its cheapest in 18 years on Monday as it traded around $22 per barrel. This comes a...
Uber and Deliveroo offer NHS free trips and food
Publication Date: 2020-03-30
Ride hailing giant Uber and takeaway firm Deliveroo are offering hundreds of thousands of free trips and meals to NHS staff fighting the coronaviru...
Tokyo Olympics to open July 23, 2021
Publication Date: 2020-03-30
The postponed Tokyo 2020 Olympics will open on July 23, 2021, organisers said Monday, announcing the new date after the Games were delayed because ...
FTSE 100 slips as oil hits 17-year-low
Publication Date: 2020-03-30
European stock markets opened broadly lower on Monday and the price of oil dropped sharply, as investors continued to focus on the novel coronaviru...
South Africa Rand plunges to a low
Publication Date: 2020-03-30
South Africa’s currency plunged to an all-time low on Monday, falling below 18 rand to a dollar after Moody’s cut the country’s last investment gra...
Suicide Bomber injuries Senior Officials in Somalia
Publication Date: 2020-03-30
A suicide bomber has seriously wounded a senior official in the autonomous Somali region of Puntland. Reports say the governor of Nugal province, A...
China unexpectedly cuts reverse repo rate
Publication Date: 2020-03-30
China’s central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as ...
Aircraft Conveying Coronavirus Medical Supply Crashes
Publication Date: 2020-03-30
A plane believed to be conveying coronavirus medical supplies has crashed during takeoff. The aircraft, bound for Haneda, Japan, crashed at Manila ...
Oil plunges to 2002 lows.
Publication Date: 2020-03-30
Oil took another 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months.
$28 Monthly Stipend For South African Workers - National Treasury
Publication Date: 2020-03-30
South Africa’s National Treasury said on Sunday it was introducing a new tax subsidy of 500 rand ($28) per month for each worker to employers for t...
UBA donates N5bn to fight COVID-19 across Africa
Publication Date: 2020-03-30
United Bank for Africa Plc, UBA, announced a donation of over N5 billion, through the UBA Foundation, to help contain the COVID-19 pandemic in 20 A...
Anambra state Governor request for relief funds
Publication Date: 2020-03-30
Governor Willie Obiano of Anambra State says he needs 1 billion naira to secure the state against the spread of COVID-19. Governor Obiano stated th...
Nigerian Financial Sector services continues despite lockdown
Publication Date: 2020-03-30
The Federal Government has assured that Nigeria's financial sector will continue to offer skeletal services during the lockdown. The assurance was ...
Nigerian Senators Struggle To Impress With 50% Salary Cut
Publication Date: 2020-03-30
Nigerian senators have agreed to contribute 50 percent of their salaries in efforts to curb the spread and treatment of coronavirus in the country....
Nigerians should expect more Confirmed Cases of Coronavirus
Publication Date: 2020-03-30
The Nigeria Centre for Disease Control (NCDC) says it expects the number of confirmed cases of coronavirus (COVID-19) cases in the country to keep ...
G20 leaders pledge to inject 5 trillion into the global economy
Publication Date: 2020-03-27
Leaders of the Group of 20 major economies have pledged to inject over 5 trillion dollars into the global economy to limit job and income losses fr...
China offers help to US against Coronavirus
Publication Date: 2020-03-27
Meanwhile, Chinese President Xi Jinping told U.S. President Donald Trump during a phone call on Friday that he would have China’s support in fighti...
United State surpass China and Italy with new cases of Coronavirus
Publication Date: 2020-03-27
The United States now has more confirmed cases of coronavirus than any other country, with more than 85,500 positive tests. According to the latest...
Toyota Motor Corporation in Asia seeks credits line
Publication Date: 2020-03-27
Still in Asia, Toyota Motor Corporation has sought a credit line totaling 1 trillion yen, or about 9.23 billion dollars, from Sumitomo Mitsui Banki...
Asian shares continues stock rally
Publication Date: 2020-03-27
In Asia, shares have continued a global stock market rally on hopes global authorities will do more to combat the impact of the coronavirus.
European shares falls to 1.8%
Publication Date: 2020-03-27
European shares tumbled in early trading on Friday after a stunning three-day rally. The pan-European STOXX 600 index was down 1.8 percent in early...
UK Prime Minister tests positive for COVID0-19.
Publication Date: 2020-03-27
UK Prime Minister, Boris Johnson has tested positive for coronavirus. The Prime Minister made the announcement in a tweet, over the last 24 ...
Africa Development Bank seeks record 3-billion-dollar debt issue to fight coronavirus;
Publication Date: 2020-03-27
The African Development Bank has sold a record 3-billion-dollar debt issue as part of efforts to raise financing to help combat the fallout from th...
National bank of Ethiopia makes plan to inject 15 billion birr into private banks
Publication Date: 2020-03-27
The National Bank of Ethiopia plans to inject 15 billion Ethiopian birr or about 456 million US dollars as liquidity for private banks. This is par...
South Africa records more than 1,000 cases of COVID-19
Publication Date: 2020-03-27
More than 1,000 cases of coronavirus have now been recorded in South Africa. The nation's health ministry disclosed this on Friday while also repor...
Lagos state begins disinfection of markets
Publication Date: 2020-03-27
Lagos state government has begun the disinfection of markets in the state in a bid to curb further spread of the COVID-19 pandemic. The state gover...
14 new confirmed cases of COVID-19 in Nigeria
Publication Date: 2020-03-27
Fourteen new cases of COVID-19 have been confirmed in Nigeria, bringing the total number of cases to 65. The Nigeria Centre for Disease Control in ...
Federal Government allows vessels at sea for 14 days into Nigerian ports
Publication Date: 2020-03-27
The Federal Government has directed that only cargo vessels that have been at sea for more than 14 days should be allowed to dock in Nigeria's port...
President Mohammadu Buhari approves 15 billion naira to tackle coronavirus
Publication Date: 2020-03-27
President Muhammadu Buhari has approved the immediate release of 15 billion naira to Lagos State and the Nigeria Centre for Disease Control to tack...
Nigeria naira eases to new low on spot market
Publication Date: 2020-03-27
Meanwhile, the naira eased to a new low of 385 naira, 39 cents per dollar on the over-the-counter spot market on Friday. This comes as importers sc...
Bureau De Change operators get 2-week market holiday
Publication Date: 2020-03-27
The Central Bank of Nigeria has granted a two-week market holiday to the Bureau De Change operators. In a statement, President of the Association o...
French business confidence loses 10 points in March due to coronavirus
Publication Date: 2020-03-26
French business confidence plunged at a record pace in March as shutdowns to contain the coronavirus have left the economy running at 65% of normal...
Singapore's economy shrinks, virus-driven recession expected
Publication Date: 2020-03-26
Singapore has delivered a second stimulus package of about 33 billion US dollars in a bid to fight the coronavirus outbreak, The country drew on na...
India outlines $22-bln economic stimulus to help poor hit by lockdown
Publication Date: 2020-03-26
India has announced a 22 billion dollar bailout for the country’s poor to help counter the economic effects of the Covid-19 outbreak. India'...
Stock poised to open lower as jobless claims surge to record 3.3 million
Publication Date: 2020-03-26
Figures from the US labour department has shown more than three million people in the US applied for unemployment benefit last week. The figure bre...
IMF Prophecies Hardship For African
Publication Date: 2020-03-26
The International Monetary Fund says the spread of coronavirus into sub-Saharan Africa will hit the region’s economic growth hard. The Fund, in a b...
South African Airways creditors authorise extension of deadline.
Publication Date: 2020-03-26
Administrators of South African Airways say the airline's creditors have authorised an extension of the deadline for a business rescue plan. The pl...
South Africa rand weak at 0.4%
Publication Date: 2020-03-26
South Africa’s rand was weaker early on Thursday. At 0630 GMT, the South African currency was 0.4% weaker at 17 rand, 40 cents per dollar, s...
GREDA appeals to banks to renegotiate interest on loans.
Publication Date: 2020-03-26
The Ghana Real Estate Developers Association is appealing to government to impress on banks to renegotiate loan agreements with its members due to ...
Nigerian Army ready to forcibly transfer infected persons
Publication Date: 2020-03-26
Reuters news agency says the Nigerian Army is preparing to forcibly transfer the sick to hospital and enforce restrictions on movement in a bid to ...
Nigeria’s terms of trade up 0.81% in Q4’19
Publication Date: 2020-03-26
The All-commodity Terms of Trade index for Nigeria increased marginally by 0.81 percent in the fourth quarter of 2019 due to increases in the price...
Central Bank of Nigeria to remain operation despite virus outbreak
Publication Date: 2020-03-26
The Central Bank of Nigeria says it will remain operational during the COVID-19 period. In a statement, the CBN Director of Corporate Communication...
National Assembly Deliberate On Incentives To Support Organised Private Sector
Publication Date: 2020-03-26
The Speaker of the House of Representatives, Femi Gbajabiamila, has urged the Federal Government to think creatively and come up with ways to stabi...
Six people recover from Coronavirus in Lagos state
Publication Date: 2020-03-26
Meanwhile, Lagos state government says six more people have recovered from coronavirus in Nigeria. The State Commissioner for Health, Professor Aki...
Confirmed Cases of COVID-19 in Nigeria rises to 51
Publication Date: 2020-03-26
The number of confirmed COVID-19 cases in Nigeria has risen to 51 after five new cases were confirmed late Wednesday. The Nigeria Centre for Diseas...
Nigeria to ban inter-state travel to curtail spread of COVID-19;
Publication Date: 2020-03-26
The Federal Government has announced plans to ban inter-state travel and possibly close down all motor parks. The Minister of Information, Lai Moha...
US stocks fluctuates after best rally
Publication Date: 2020-03-25
U.S. stocks fluctuated after the best rally in over a decade, as investors awaited details on the unprecedented government spending packages aimed ...
China to resume U.S. LPG imports as Beijing waives trade-war tariff
Publication Date: 2020-03-25
China has begun buying U.S. liquefied petroleum gas again after a hiatus of nearly 20 months as Beijing waived punitive tariffs to boost imports of...
Namibia closes all airport
Publication Date: 2020-03-25
Namibia has joined other African countries in closing airports and imposing a partial lockdown on the capital, Windhoek. The lockdown aims to try a...
United Nation predicts Africa falling into recession
Publication Date: 2020-03-25
The United Nations says Africa could fall into recession this year if multilateral lenders and investors don’t help the continent waive debt-servicing...
South Africa central bank buys bonds to inject emergency cash
Publication Date: 2020-03-25
South Africa’s Reserve Bank on Wednesday says it would begin buying an unspecified amount of government bonds. This is part of additional emergency...
South Africa Airways suspend all flight
Publication Date: 2020-03-25
South African Airways says it will suspend all its domestic flights from Friday until April 16 in support of a national lockdown to curb the spread...
Nigerian Stock Exchange Extends Financial Statements’ Filling Deadline
Publication Date: 2020-03-25
The Nigerian Stock Exchange has granted listed companies a 60-day grace period for the submission of their audited financial statements for the yea...
African Export import bank create billion dollar facility
Publication Date: 2020-03-25
The African Export Import Bank is creating a 3 billion dollar credit facility to help African countries overcome the effects of the coronavirus pan...
Reps propose duty waivers, new tax regime.
Publication Date: 2020-03-25
The House of Representatives has passed the Emergency Economic Stimulus Bill, 2020. The bill aims to provide temporary relief to companies and indi...
Manufacturing Index Records Slow Growth in March
Publication Date: 2020-03-25
The Central Bank of Nigeria’s Manufacturing Purchasing Managers Index (PMI) stood at 51.1 index points in March, indicating expansion in the manufa...
Lagos state Government urges banks to prioritise online service
Publication Date: 2020-03-25
Lagos State Government has urged banks to prioritise online service following the coronavirus outbreak. Governor Babajide Sanwo-Olu of Lagos State ...
US tech giants team up to tackle coronavirus
Publication Date: 2020-03-24
Amazon is teaming up with researchers funded by Microsoft co-founder Bill Gates to pick up and deliver coronavirus test kits. The Seattle Coronavir...
Dow Jones Recorded Highest One-Day Gains Since 1933 as Asian shares Rally Along
Publication Date: 2020-03-24
U.S. index futures and European stocks have rallied alongside Asian shares on Tuesday as investors rediscovered a measure of risk appetite as globa...
Africa Needs $100 Billion Stimulus to Combat Virus
Publication Date: 2020-03-24
The United Nations Economic Commission for Africa says the continent needs an immediate emergency economic stimulus of 100 billion dollars to comba...
Ethopia seek funds from African countries
Publication Date: 2020-03-24
Ethiopia is seeking debt relief and emergency budgetary support for African countries to boost their response to the coronavirus outbreak. In its t...
Kenyan shilling inches down against dollar.
Publication Date: 2020-03-24
In Kenya, traders said the shilling edged down against the dollar on Tuesday and the spread between offers and bids continued to widen due to extre...
South African foreign direct investment drops in 2019
Publication Date: 2020-03-24
South African foreign direct investment in 2019, dipped compared to the previous year. This is according to figures released on Tuesday by the Sout...
Fidelity Bank Plc records gross earnings of 215.5 billion naira
Publication Date: 2020-03-24
Fidelity Bank Plc has recorded gross earnings of 215.5 billion naira for the financial year ended December 31, 2019, indicating an increase of 14 p...
With Gold Trading Above $1600/Ounce, Nigeria Builds First Commercial Goldmine
Publication Date: 2020-03-24
The construction of Nigeria’s only large-scale commercial gold mine has begun in Osun State and the facility will start producing gold in 2021. The...
NSE shuts down trading floor on coronavirus spread
Publication Date: 2020-03-24
The benchmark index of the Nigerian Stock Exchange has rebounded on Tuesday as the local bourse prepares to close its trading floors on Wednesday a...
FAAC Shares N581.566bn To FG, States, LGAs For February
Publication Date: 2020-03-24
The Federation Account Allocation Committee has shared 581.56 billion naira to the three tiers of government for the month of February. The ...
Federal Government orders civil servants to stay at home.
Publication Date: 2020-03-24
The federal government has ordered civil servants to observe a compulsory stay at home as it continues to find ways to rid the country of the deadl...
Nigerians asked to prepare for tough measures
Publication Date: 2020-03-24
Still on covid-19, the Nigerian Government has asked the public to prepare for tough measures. The Minister of Information and Culture, Lai ...
Nigeria's President chief of staff test positive to Coronavirus.
Publication Date: 2020-03-24
Reports say President Muhammadu Buhari's chief of staff has tested positive for coronavirus. A source with direct knowledge disclosed this to Reute...
Nigeria confirms 2 more cases of Coronavirus.
Publication Date: 2020-03-24
The Nigeria Centre for Disease Control has announced two additional cases of coronavirus in the country, taking the total number of confirmed cases...
Facebook Enlists Developers on a Coronavirus Rescue Mission
Publication Date: 2020-03-23
Facebook has begun enlisting outside developers to create ways its Messenger service can help health organizations battling the novel coronavirus. ...
The OECDs Worries About The Crumbling Global Economy
Publication Date: 2020-03-23
The Organisation for Economic Co-operation and Development has warned that the world will take years to recover from the coronavirus pandemic. ...
Global stocks fall again despite virus rescue efforts
Publication Date: 2020-03-23
European stock markets have taken further hits over fears of the economic impact from the coronavirus pandemic. London's FTSE 100 index sank...
World Bank moving forward on first $1.7 bn in pandemic aid projects
Publication Date: 2020-03-23
The World Bank’s executive board is expected to consider later this week the first fast-track funds to help Afghanistan and Ethiopia respond to the...
NDIC call on banks to restructure credit administration
Publication Date: 2020-03-23
The Nigeria Deposit Insurance Corporation has called on banks to re-organise their credit administration in a way that enhances access to credit an...
Department of Petroleum Resources, Warri Zonal office warns petroleum marketers against hoarding
Publication Date: 2020-03-23
The Warri Zonal Office of the Department of Petroleum Resources has warned petroleum marketers against hoarding products. DPR's Operations Controll...
Shell cuts costs, slashes spending on virus turmoil
Publication Date: 2020-03-23
Royal Dutch Shell says it will slash costs and capital expenditure by billions of dollars due to the worsening coronavirus pandemic, which has spar...
Confirmed cases of Covid-19 in Nigeria rises to 35
Publication Date: 2020-03-23
Meanwhile, the number of confirmed cases of the deadly COVID-19 virus in Nigeria has risen to 35. This is according to an announcement on Monday by...
Biggest source of risk facing Nigeria are people returning to Nigeria, said Nigeria Centre Disease Control's Director-General
Publication Date: 2020-03-23
The Nigeria Centre for Disease Control says the biggest source of risk faced by the nation is people returning to Nigeria. NCDC's Director-General,...
Nigeria records first death from covid-19;
Publication Date: 2020-03-23
Nigeria has recorded the first death due to the COVID-19 pandemic. The Nigeria Centre for Disease Control made the announcement on Monday in...
Share Index opens week on a negative note with 2.24% decline;
Publication Date: 2020-03-23
The All Share Index has opened the week on a negative note, falling 2.24 percent. After 5,883 deals, the main benchmark index closed at 21,700.98 p...
Naira’s 1-year forward records biggest fall in over 10 years
Publication Date: 2020-03-23
Nigeria one-year currency forward, on Monday, recorded its biggest fall in more than 10-years after the official naira exchange rate was devalued o...
International Monetary Fund cuts Italy’s growth estimate to minus 0.6% for 2020
Publication Date: 2020-03-20
Meanwhile, the International Monetary Fund has cut its growth estimate for Italy from 0.4 per cent of gross domestic product to minus 0.6 per cent ...
Italy records higher death rate than China
Publication Date: 2020-03-20
Figures have shown that coronavirus has killed more people in Italy than in any other country, after 427 deaths were recorded in a day. The ...
Uganda requests loan from World bank
Publication Date: 2020-03-20
Uganda's finance minister says the country will request for a 190 million dollar loan from the World Bank to help cushion its economy from the impa...
South Africa suspends all flight
Publication Date: 2020-03-20
South African Airways said on Friday that it would immediately suspend all intercontinental flights until May 31. This is in response to a governme...
South Africa Apex Bank Injects liquidity to Support Economy
Publication Date: 2020-03-20
The South African Reserve Bank has announced emergency liquidity measures in a bid to ease the stress on banks caused by the coronavirus outbreak. ...
Californians ordered to stay home
Publication Date: 2020-03-20
California has ordered its 40 million residents to stay home indefinitely and venture outside only for essential jobs, errands and some exercise, b...
NAFDAC Approves Production Of Chloroquine For Clinical Trial
Publication Date: 2020-03-20
The National Agency for Food and Drug Administration and Control (NAFDAC) has approved the production of Chloroquine for clinical trials in the sea...
El-Rufai Orders Suspension Of Juma’at Prayers, Church Services
Publication Date: 2020-03-20
The Kaduna State Government has advised Imams not to hold Juma’at services as part of efforts to restrict religious services and all large gatherin...
Federal Government Adds Austria and Sweden To List Of High Risk Countries
Publication Date: 2020-03-20
The Federal Government has added two more countries to the list of high-risk countries following the outbreak of coronavirus. The countries ...
Global COVID-19 death toll tops 10,000
Publication Date: 2020-03-20
The number of people who have died as a result of the coronavirus pandemic now exceeds 10,000, according to an AFP tally based on official data.
Asian shares fell sharply as coronavirus cases rise worldwide.
Publication Date: 2020-03-19
Shares in Asian markets fell sharply on Thursday following another rout on Wall Street as the number of coronavirus infections continued to rise wo...
Qatar Airways lays off staff as coronavirus hits travel
Publication Date: 2020-03-19
Challenges in the airline industry deepened on Thursday as Qantas Airways told most of its 30,000 staff to take leave and Lufthansa said the indust...
Saudi Arabia to reduce its spending in 2020
Publication Date: 2020-03-19
Saudi Arabia says it would decrease its planned spending in 2020 by around five per cent. The Minister of Finance, Mohammed al-Jadaan, disclosed th...
International Labour Congress predicts about 25 million jobs lost worldwide due to COVID-19 pandemic;
Publication Date: 2020-03-19
The International Labour Congress says almost 25 million jobs could be lost worldwide as a result of the COVID-19 pandemic. ILO Director-General, G...
World Health Organisation gives update on Coronavirus
Publication Date: 2020-03-19
The World Health Organisation says no fewer than 200,000 cases of Coronavirus have now been reported to WHO and 8,000 people have lost their lives....
Trade Union Congress calls for tax holidays to cushion Coronavirus outbreak;
Publication Date: 2020-03-19
The Trade Union Congress has called on the Federal Government to grant tax holidays to business owners in the country to enable them cushion the ec...
Nigerian Employers Consultative Association commends federal government for reducing price of petrol
Publication Date: 2020-03-19
The Nigeria Employers Consultative Association has commended the Federal Government for reducing the price of petrol. This follows federal governme...
Senate Suspends Public Hearing, Shuts Gallery
Publication Date: 2020-03-19
Nigerian Senate has suspended all public hearings from next week Tuesday as a precautionary measure to check the spread of Coronavirus. Pres...
Ondo state confirms new case of Coronavirus
Publication Date: 2020-03-19
Ondo State Government says there is a suspected case of coronavirus in Akure, the state capital. The suspect, named David, came into Nigeria...
Buhari Launches National Broadband Plan, Emergency Call Centre
Publication Date: 2020-03-19
The plan, essentially, is intended to deepen internet penetration in the country, according to the Minister of Communications and Digital Economy, ...
South African Airways cancels all flight
Publication Date: 2020-03-18
South African Airways says it has cancelled 162 international and regional flights until the end of this month due to low demand and restrictions l...
103 years old Iranian woman recovers from Coronavirus
Publication Date: 2020-03-18
A 103-year-old woman in Iran has recovered after being infected with the new coronavirus, despite overwhelming evidence the elderly are most at ris...
Kenya banks allows extended loans
Publication Date: 2020-03-18
Kenyan banks will allow personal borrowers who get into difficulties due to the new coronavirus pandemic to extend their loans for up to a year.
Presidential Advisory Council warns against economic consequences in Nigeria
Publication Date: 2020-03-18
The Presidential Advisory Council has warned about dire economic consequences for Nigeria if the coronavirus is not contained as quickly as possibl...
Katsina State announces first suspected coronavirus case
Publication Date: 2020-03-18
Katsina State has recorded its first suspected case of Coronavirus. The permanent secretary in the state ministry of health, Dr. Kabir Muspt...
Federal Government issues travel ban on 13 countries
Publication Date: 2020-03-18
The Federal Government has issued a travel ban on 13 countries over the COVID-19 pandemic. The Secretary to the Government of the Federation Boss M...
Nigeria confirms five new cases of coronavirus
Publication Date: 2020-03-18
The Federal Government has confirmed five new cases of coronavirus in Nigeria. This brings the total number of confirmed cases in the countr...
Amazon Staff told to work overtime.
Publication Date: 2020-03-17
Workers at Amazon's UK warehouses are being told to work overtime to tackle huge demand due to the coronavirus pandemic, despite government calls t...
UK to unveil new financial measures to support economy
Publication Date: 2020-03-17
The government will unveil more financial plans to help the economy during the coronavirus outbreak, after the prime minister announced unprecedent...
Stock markets continue to slide
Publication Date: 2020-03-17
European shares have fallen further as fears over the economic impact of the coronavirus pandemic continues to grip the world's financial markets.
Malaysia records first death from coronavirus.
Publication Date: 2020-03-17
The World Health Organization (WHO) has described the coronavirus pandemic as the "defining global health crisis of our time", and urged countrie...
Cabinet Secreatary orders security officials to ensure no congestion in Matatus.
Publication Date: 2020-03-17
Traffic police and the National Transport and Safety Authority (NTSA) have been tasked, to ensure compliance with safety precautions in Public Serv...
Gold falls ; investors favour cash
Publication Date: 2020-03-17
Gold prices fell nearly 1.5% on Tuesday, extending losses from the previous session’s meltdown, as investors continued to sell assets to keep their...
Ghana Civil Aviation Authority projects 20% drop in revenue.
Publication Date: 2020-03-17
The Ghana Civil Aviation Authority is anticipating a twenty percent drop in revenue following a drop in the number of flights permitted into the co...
Julius Berger Posts Profit and Declares Dividend
Publication Date: 2020-03-17
Shareholders of Julius Berger Nigeria Plc are to receive dividend and bonus shares for the financial year ended December 31, 2019 following improve...
Redstar Express Raises fund to Boost Operations
Publication Date: 2020-03-17
Red Star Express Plc has successfully raised N1.347 billion from existing shareholders through the rights issue of 336,855,291 shares of 50 kobo ea...
Nigerian Government Extends Travel Caution to 3 new countries.
Publication Date: 2020-03-17
The federal government yesterday added three new countries- Germany, France and Spain- to the list of five high-risk countries with widespread comm...
The Federal Government of Nigeria Postpones National Sports Festival
Publication Date: 2020-03-17
The 20th National Sports Festival scheduled to begin on March 22 in Benin City, Edo State has been postponed. The Sports Minister, Sunday Da...
Pakistan's spike raises quarantine concerns
Publication Date: 2020-03-16
Pakistan has recorded its biggest single-day spike in coronavirus infections, taking the tally to 107, amid reports of ineffective quarantine proce...
Trump's Near Zero Rates Failed to Pacify Equity Market
Publication Date: 2020-03-16
Global stocks were slammed on Monday and the United States dollar was battered after emergency rate cuts in the US and New Zealand and a series of ...
Australia and New Zealand's central banks join coronavirus fight
Publication Date: 2020-03-16
Australia, New Zealand and South Korea on Monday were the latest countries to see their central banks taking measures to help their economies fight...
Coronavirus kills Iranian Muslim leader
Publication Date: 2020-03-16
COVID-19 has killed a member of the clerical body that appoints the supreme leader, according to Iranian state media, the latest official in the co...
Germany closes borders
Publication Date: 2020-03-16
Germany has become the latest country to close borders as European nations try to stem the spread of the coronavirus. Its borders with Franc...
Ghana closes schools, bans gatherings over Coronavirus
Publication Date: 2020-03-16
Ghana closed all schools and universities and suspended public events to stop the spread of coronavirus as a string of African nations imposed tigh...
Lagos state Governor pledges 2 billion to victims of Abule-Ado explosion
Publication Date: 2020-03-16
Lagos State government has announced a 2-billion-naira relief fund for the victims of Abule-Ado explosion in Amuwo Odofin Local Government Area.
All Share Index opens week with 0.12%loss
Publication Date: 2020-03-16
Trading at the Nigerian Stock Exchange ended on a negative note on Monday, over-turning marginal gains recorded on Friday. After 6,981 deals, the A...
Cambodia to host war games with China amid coronavirus outbreak
Publication Date: 2020-03-13
Cambodia is set to kick off its annual joint military exercise with China on Saturday, with thousands of soldiers expected to join despite events b...
Europe Unhappy With Donald Trump
Publication Date: 2020-03-13
Leaders in the European Union have expressed their displeasure at President Donald Trump's decision to bar visitors from 26 Schengen countries from...
Coronavirus Case at United Nations Headquarters
Publication Date: 2020-03-13
A Philippine diplomat in New York has tested positive for the new coronavirus in the first recorded case at United Nations headquarters in the city...
2020 Africa Hr summit suspended
Publication Date: 2020-03-13
In the wake of the coronavirus outbreak across the globe, the Africa hr. summit have suspended the mercer 2020 Africa HR summit until further notic...
Fostering Uganda and Europe Business alliance
Publication Date: 2020-03-13
The European Union in Uganda together with all the EU members states and the Private Sector Foundation Uganda- (PSFU) recently held the first ever ...
Coronavirus will strengthen Ghana’s drug production.
Publication Date: 2020-03-13
Ghana’s President, Nana Akufo-Addo, says the country will be taking advantage of the Coronavirus pandemic to strengthen the domestic production of ...