Category: Economy
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MTN Nigeria lifts NSE market indices further by 0.38%
Transactions maintained upward trend on Thursday with the market indicators appreciating further by 0.38 per cent, amid MTN Nigeria gains. Specifically, the All- Share Index rose by 95.49 points or 0.38 per cent to close at 25,236.97 compared with 25,141.48 posted on Wednesday. In the same vein, the market capitalisation rose by N50 billion or…
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Oil prices rise, head for weekly gain amid cautious hopes for fuel demand recovery
Oil prices advanced on Friday and were heading for the second week of gains amid growing confidence that demand for fuel is starting to pick up. This is in spite of the coronavirus pandemic that has slammed economies worldwide. Brent crude was up 14 cents, or 0.3 per cent at $45.10 by 0043 GMT, heading…
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British economy plunges into recession after record second-quarter fall
The British economy is in recession after contracting a record 20.4 per cent in the second quarter as the coronavirus crisis took hold, the Office for National Statistics (ONS) said on Wednesday. The quarterly contraction in the April-to-June period was the largest since 1955 when the agency began to keep quarterly records. Gross domestic product…
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Oil prices bolstered by bigger-than-expected drop in U.S. crude stocks
Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts had expected. This bolsters hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. Brent crude was up 15 cents, or 0.3 per cent, at $44.65 a barrel by 0206 GMT,…
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Dollar holds firm as U.S. bond yields jump
The dollar inched ahead on Wednesday, as a jump in U.S. yields pushed it higher against the Japanese yen, while the kiwi briefly hit a one-month low after the central bank extended its bond-buying programme. The yield on 10-year U.S. debt, which rises when bond prices fall, made its steepest gain in two months on…
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Access Bank rewards 9,000 for digital platforms transactions
Access Bank Plc says over 9,000 customers have been rewarded for saving and transacting on the bank’s digital platforms in the DiamondXtra campaign tagged, XtraWins. Mrs Adaeze Umeh, Head, Consumer Banking of the bank disclosed in a statement made available to the News Agency of Nigeria (NAN) on Tuesday in Lagos. Umeh said that it…
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NSE market indices drop further 0.58%
The domestic bourse sustained losses on Tuesday with key market indices declining further by 0.58 per cent. Specifically, the All-Share Index which opened at 25,027.61 dropped 143.91 points or 0.58 per cent to close at 24,883.70. Consequently, the Month-to-Date gain moderated to +0.8 per cent while the Year-to-Date loss increased to -7.3 per cent. Market…
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Nigeria stock market opens week with N8bn loss
The nation’s bourse opened trading for the week on Monday with a loss of N8 billion, the first decline in seven consecutive trading sessions. Speficially, the market capitalisation which opened at N13.063 trillion dipped N8 billion or 0.06 per cent to close at N13.055 trillion. Also, the All-Share Index (ASI) lost 14.28 points or 0.06…
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774,000 FG/NDE Jobs are only for unskilled, semi-skilled youths – Committee Chairman
Chief Nweke Gbazueagu, Chairman, Enugu State Selection Committee for the 774,000 Federal Government/National Directorate of Employment (NDE) Guaranteed Jobs, says the job space is meant for unskilled and semi-skilled youths. Gbazueagu made this known on Monday in Enugu while inaugurating 85-member of Enugu State Local Government Supervising and Monitoring Sub-Committee. The committee comprises five members…