NSE: Nigerian Breweries, GTB, Dangote Sugar lead losers as market reverses previous gain

The Nigerian Stock Exchange (NSE) ended Friday’s trade on a negative note amidst, with sell pressure on bellwether stocks like Nigerian Breweries and GTB while Dangote Sugar drove the reversal of Thursday’s gain, setting in motion a 0.08% loss this week. A 0.81% slide in bank stocks, causing the Banking Index, the day’s worst performer … Continue reading NSE: Nigerian Breweries, GTB, Dangote Sugar lead losers as market reverses previous gain

42% of Nigerians lost their jobs during coronavirus lockdown says World Bank

The World Bank Thursday revealed that around 42% of the Nigeria’s workforce lost their jobs between March and June following the shutdown of the economy in the aftermath of the coronavirus outbreak. Ahmed Rostom, Senior Financial Sector Specialist, World Bank, made the disclosure at the Development Bank of Nigeria (DBN) Webinar Series’ virtual knowledge sharing series … Continue reading 42% of Nigerians lost their jobs during coronavirus lockdown says World Bank

Dangote Group world’s biggest fertiliser plant to begin production in February

Dangote Group’s fertiliser plant, previously timed to start operation in May, will now tee off production next February, Bloomberg said on Thursday, quoting Saipem SpA, the builders. The plant situated in Lekki Lagos has an installed capacity of 3 million tons a year of urea and ammonia, making it the largest in the world. Its … Continue reading Dangote Group world’s biggest fertiliser plant to begin production in February

Equities tumble in Asia as Trump revives trade war fears

Hong Kong (AFP) Asian markets suffered steep losses Monday, tracking a selloff in New York after Donald Trump sparked fears of a renewed trade war with China over its role in the coronavirus pandemic. Claims by the US president and Secretary of State Mike Pompeo that the disease started in a lab in Wuhan, and … Continue reading Equities tumble in Asia as Trump revives trade war fears

Stock markets rattled by Trump’s China virus claims

New York (AFP) London and New York stocks sank on Friday after US President Donald Trump lashed out at China over the coronavirus crisis, bringing back bad memories of a damaging standoff between both countries over trade. The eurozone's key equity markets were shut for a public holiday as were several exchanges in Asia. Clouds … Continue reading Stock markets rattled by Trump’s China virus claims

Mexican stock exchange and peso crash amidst coronavirus, oil fears

Mexico City (AFP) Mexico's stock exchange on Monday suffered its largest single-day crash since 2008 as the peso dropped to its lowest exchange rate compared to the US dollar in three years. The falls come amidst global fears over the new coronavirus and plummeting oil prices. The stock exchange plunged 6.42 percent to close at … Continue reading Mexican stock exchange and peso crash amidst coronavirus, oil fears

Asian markets collapse as virus spreads, oil prices crash

Hong Kong (AFP) Equity markets collapsed Monday as the rapidly spreading coronavirus fans fears over the global economy, while a crash in oil prices added to the panic with energy firms taking a hammering. As the deadly disease claims more lives around the world, dealers are fleeing out of riskier assets and into safe havens, … Continue reading Asian markets collapse as virus spreads, oil prices crash

Scotch whisky facing £100m losses on US tariffs: industry body

Edinburgh (AFP) Scotland's whisky industry is facing a £100 million fall in exports as a 25-percent tariff on imports of single malt Scotch into the United States starts to "hit hard", according to an industry body. The tariff came into effect on October 18 after Washington retaliated with trade tariffs on the European Union over … Continue reading Scotch whisky facing £100m losses on US tariffs: industry body

Lebanon caps dollar exchange rate

Beirut (AFP) Money changers in protests-hit Lebanon agreed Tuesday to cap the dollar exchange rate at 2,000 pounds as part of efforts to curb the local currency's devaluation on the parallel market. The Lebanese pound is officially pegged to the greenback at a rate of 1,500 to the dollar but the country's sharp economic downturn … Continue reading Lebanon caps dollar exchange rate

SoftBank offers to invest US$40b in Indonesia’s new capital

JAKARTA: SoftBank Group Corp. offered to invest $30 billion to $40 billion toward the development of a new Indonesian capital, a senior member of President Joko Widodo’s cabinet said on Friday. SoftBank Chief Executive Officer and founder Masayoshi Son met Jokowi, as the head of state is popularly known, in Jakarta last week and expressed … Continue reading SoftBank offers to invest US$40b in Indonesia’s new capital

Spotify can now produce playlists for your pooch

Spotify's newest playlist creation tool is designed for your pet and its unique personality. To keep listeners listening, Spotify is always curating playlists with specially selected content unique to each individual. Spotify releases a playlist curation tool for pets. — AFP In addition to automatically created albums like Discover Weekly and Release Radar, the platform … Continue reading Spotify can now produce playlists for your pooch

Amazon publishes French taxes after accusations of underpayment

PARIS (AFP) - Amazon on Wednesday (Dec 18) published its French tax returns, showing it paid 250 million euros (S$376 million) last year, after accusations that the US e-commerce giant was not paying enough into the public coffers. Amazon has said it plans to pass on the costs of the new tax to the businesses … Continue reading Amazon publishes French taxes after accusations of underpayment