New WTO Director-General, Ngozi Okonjo-Iweala Resumes Work, Says ‘Ready To Go’
Dr Ngozi Okonjo-Iweala has officially resumed as Director-General of the World Trade Organisation (WTO). As she took up the new role on Monday, the former Nigerian finance and foreign minister said she was eager to get straight to work as the first woman and first African to lead the beleaguered World Trade Organization. “I am […]
NNPC Denies Increasing Fuel Price In March 2021
The Nigerian National Petroleum Corporation (NNPC) has denied reports of any increment in the price of Premium Motor Spirit (petrol) in the country in March 2021. The NNPC disclosed this in a statement signed on Sunday by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru. Obateru stated that the Corporation was not […]
Self-Made South Korean Billionaires Promise To Give Half Away
Two self-made South Korean billionaires have pledged in as many weeks to give away half their fortunes –- a rarity in a country where the business is dominated by family-controlled conglomerates and charity often begins and ends at home. Kim Beom-su, the founder of South Korea’s biggest messaging app KakaoTalk, announced this month he will […]
China’s Huawei Plans Foray Into Electric Vehicles
China’s Huawei plans to make electric vehicles under its own brand and could launch some models this year, four sources said, as the world’s largest telecommunications equipment maker, battered by US sanctions, explores a strategic shift. Huawei Technologies Co Ltd is in talks with state-owned Changan Automobile and other automakers to use their car plants […]
CBN Governor: Restricting Cryptocurrency Trading In Nigerians’ Best Interest
Central Bank of Nigeria Governor, Mr. Godwin Emefiele, has said that the CBN acted in the nation’s best interest by ordering banks, non-banking and other financial institutions not to facilitate trading and dealings in cryptocurrencies. Emefiele, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes, and Capital Market, […]
With Rising Poverty And Unemployment, Nigeria Sitting On Time Bomb, Report Says
The Financial Derivatives Company Limited (FDC) has stressed that Nigeria’s high unemployment (27.1%), its large youth population, as well as its poverty rates, mean that the country is effectively seating on a massive keg of gun powder. The Lagos-based research and investment company stated this in its latest economic bulletin. Nigeria now has an estimated […]
FG Poised To Do Much More Through ESP – Presidency
The Presidency has said that Nigeria’s prompt exit from recession is a key indicator of the success of the ongoing Economic Sustainability Plan approved by the Federal Government. This indication was given over the weekend by Mr. Laolu Akande, Senior Special Assistant to the President on Media and Publicity in the Office of the Vice […]
Bitcoin Hits A Fresh High of $56,000
Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier. The world’s most popular cryptocurrency rose to record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year. Bitcoin’s gains have been fuelled by evidence. […]
Shell Rattled By Bank Accounts Restrictions, As Aiteo Seeks $4bn For ‘16 Million Barrels Of Crude Diverted
There are strong indications that Tuesday’s injunction of a Federal High Court, Lagos, barring Royal Dutch Shell’s Nigerian subsidiary from withdrawing money at 20 local banks until it ring-fences potential damages in a lawsuit brought against the oil major by Aiteo Eastern E&P is already rattling the oil firm. The interim Mareva injunction is aimed […]
Bitcoin Is ‘Economic Side Show’ And Poor Hedge Against Stocks, JP Morgan Says
Bitcoin is an “economic side show” and a poor hedge against a decline in equity prices, analysts at JP Morgan said in a sobering assessment that could undercut the cryptocurrency’s rise to record highs. Current prices are well above JP Morgan’s estimates of fair value and the mainstream adoption of bitcoin increases its correlation with […]
