ECONOMY Consumer Price Index Rise To 11.44% Consumer price Index for the month of December, 2018 increased by 11.44% on year on year basis, which represent a 1.4% increase compared to the previous month of November, 2018 Inflation index of 11.28%, while monthly inflation index reflect, an appreciation of 0.74% when compared to November, 2018…
Equities Market At the close of today’s trading session, the Nigerian equities Bourse Inched higher by 0.58% as measured by NSE ASI and Market capitalization, as they both closed at 30,137.53 points and N11,238.56tr respectively. Year-to-Date ASI is at a negative of 3.00%. Volume, Value of trades and No of trades all increased by 126.67%,…
The European Central Bank will need to move cautiously when it eventually starts raising interest rates, according to Governing Council member Ewald Nowotny. While the ECB’s guidance suggests rates could rise after the summer, investors don’t see a hike until 2020 because of the slowing economy. Asked in an interview with Der Standard newspaper whether…
China’s government is turning increasingly to tax cuts as the first line of defense against a slowing economy, in a departure from the wasteful infrastructure binges of the past. Further evidence of the shift emerged Tuesday, as senior policy officials pledged that tax reductions on a “larger scale” are in the pipeline, amid worsening economic…
Equities Market At the close of today’s trading session, which was extended by one hour due to the earlier technology glitch, the Nigerian equities Bourse Inched higher by 0.45% as measured by NSE ASI and Market capitalization, as they both closed at 29,964.79 points and N11,174.14tr respectively. Year-to-Date ASI is at a negative of 3.56%.…
ECOMOMY Value Added Tax (Q2 & Q3 2018) recorded 9.16% Year on Year Growth: Given the Sectoral Value Added Tax Distribution report for Q2 & Q3, 2018, which indicated a quarter on quarter growth of 2.54%, from N266.73BN to N273.50bn, Year on Year Growth was 9.16%. The sectorial performance are as follows: Manufacturing Sectors was…
Federal Reserve Chairman Jerome Powell on Thursday stressed again that the U.S. central bank can be patient in approving any further rate increases as officials gauge whether the U.S. economy will slow this year, as some in financial markets worry, or continue motoring ahead as the Fed itself expects. With no sign of excessive inflation…
MRS Oil Nigeria Plc says its board of directors has reviewed and approved the resignation of Mr Andrew Gbodume as its Managing Director/Chief Executive Officer with immediate effect. In a statement made available to the Nigerian Stock Exchange on Thursday, the firm said the approval was given in a written resolution of the board dated…
The Abraaj Group has said it will convert its $10m loan to C & I Leasing Plc to equity. According to a statement made available to the Nigerian Stock Exchange on Tuesday, the conversion is following the 2018 maturity of the $10m unsecured, coupon redeemable, convertible loan stock in C & I Leasing Plc. The…
China plans to set a lower economic growth target of 6-6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand. The proposed target, to be unveiled at the annual parliamentary session in March, was…