OPEC And Allies Failed To Agree On Production Levels For February
Members of the Organization of Petroleum Exporting Countries (OPEC) and their allies, including Russia, on Monday failed to reach an agreement on production levels for February, with talks expected to continue today. The cartel had agreed after its last summit, held from November 30 to December 3, to raise production levels by half a million […]
Asian Shares To Finish 2020 At Record High
Asian shares edged up on Thursday and were set to end a tumultuous 2020 at record highs, while growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies. MSCI’s gauge of Asia-Pacific shares excluding Japan rose 0.1% to its latest peak, having explored fresh territory repeatedly late […]
Bitcoin Hits Fresh Record High
Bitcoin topped $28,500 for the first time ever on December 30th of 2020 and is up around 47% so far in December, on track for its biggest monthly gain since May of 2019. The crypto currency has almost quadrupled in value this year, driven by institutional buying and its appeal as a hedge against potential […]
Bloomberg Names Nigeria’s Stock Market As Best-performing Globally In 2020
The Nigerian Stock Exchange (NSE) has been named the best-performing stock market among the 93 equity indexes being tracked by Bloomberg across the world. The all-share index which opened at 38,800.01 inched higher by 310.16 points or 0.80 per cent to cross the 39,000 mark and close at 39,110.17 on Tuesday. Also, the market capitalization […]
Chinese Economy To Overtake US By 2028 Due To Covid
China will overtake the US to become the world’s largest economy by 2028, five years earlier than previously forecast, a report says. The UK-based Centre for Economics and Business Research (CEBR) said China’s “skilful” management of Covid-19 would boost its relative growth compared to the US and Europe in coming years. Meanwhile India is tipped […]
Tech Giant, Alibaba Faces Antitrust Probe In China
China has launched an antitrust investigation into Alibaba Group and will summon the technology giant’s Ant Group affiliate to meet in the coming days, regulators said on Thursday, in the latest blow for Jack Ma’s e-commerce and financial technology empire. The probe is part of an accelerating crackdown on monopolistic behaviour in China’s booming internet […]
Nigerian Stock Exchange Capitalization Hits Historic $51bn On Sustained Rally
The market capitalisation of the Nigerian Stock Nigerian (NSE), which is the total value of all listed equities, hit a historic peak of N20.281 trillion (about $51bn) on Wednesday, as investors increased demand for stocks to reposition for year-end seasonal trends and the much expected economic recovery in 2021.This is the highest the market would […]
Nigeria’s BUA Signs Pact With China’s CBMI To Build Cement Plants Worth $1.05bn
Nigeria-headquartered BUA Cement Plc has signed an agreement with Sinoma CBMI of China for the construction of three new cement plants of three million tonnes each per annum in Edo, Sokoto and Adamawa States. The nine-million tonnes combined capacity expansion project, estimated to cost about $1.05billion, is slated to be completed by the end of […]
European Stocks Tumble At Open
European stocks slumped at the open Monday and the pound crashed as a new highly infectious strain of coronavirus found in Britain sent traders running for cover. London’s benchmark FTSE 100 index slid more than 1.0 percent, while eurozone indices dived over 2.0 percent — with trade impacted also by Britain and the EU failing […]
WTO Laments Absence Of Substantive DG, US Makes Weird Proposal To Restart Elective Process
The World Trade Organisation on Friday stated that the absence of a substantive director general is hurting its operations and would not describe 2020 as a very successful year. The WTO made this statement during a press briefing, adding that a special general council early in the New Year is needed to make a decision […]
