The world’s biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic. The range of views illustrates deep uncertainty among top industry players over the outlook, given the re-imposition of…
U.S. wholesale inventories rose slightly more than initially thought in August. The Commerce Department said on Wednesday wholesale inventories rose 1.0 percent instead of the 0.8 percent initially reported last month. Stocks at wholesalers in July rose 0.6 percent. Inventories rose 5.3 percent year-over-year as of August. The component of wholesale inventories that goes into…
Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the International Monetary Fund said on Wednesday. The IMF, whose autumn meetings with the World Bank get under way on the Indonesian resort island of Bali…
AS 12 banks record marginal growth of 0.02 percent to N920.4 billion from N920.2 billion in H1’17, stakeholders and operators in the capital market have frowned at the low interest income recorded by leading banks in the first half of 2018 (HI’18). But the banks have, however, reduced their bad debts (impairment losses) by 26.1…
The International Monetary Fund has said Nigeria needs to be cautious about the use of its foreign exchange reserves, saying oil prices could decline at any time. The nation’s external reserves have been declining in recent months, falling fell to $44.30bn on September 28 from $45.83bn at the end of August. The reserves dropped further…
THE Nigerian Stock Exchange, NSE, has commenced move towards introducing electronic-Initial Public Offering, e-IPO, in the Nigerian capital market, just as stock broking firms were charged to adopt technology in their services to clients to boost market participation. Speaking at the 22ND Chartered Institute of Stockbrokers, CIS, Conference in Lagos, with the theme: ‘‘Evolution of…
The Asset Management Corporation of Nigeria has said it wants a quick sale of Polaris Bank, the lender created to take over the assets and liabilities of the failed Skye Bank Plc. The Chief Executive Officer, AMCON, Ahmed Kuru, in an interview with Bloomberg in Lagos, said the divestment would be quick as the agency…
Equities Market The Nigerian equities market closed the day trade on a decline at the end of the day’s trading activity, as both NSE ASI and market capitalization decreased by 0.11% respectively, as they both closed at 32,382.58points and N11,822.14tr respectively. Year-to-Date ASI is at a negative of 15.37%. Volume of trades and No of…
an upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next.With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP…
International Finance Corporation (IFC), a member of the World Bank Group, has issued its inaugural Indonesian Rupiah Komodo green bond, attracting strong investor demand and raising 2 trillion IDR—the equivalent of $134 million in U.S. currency—to combat climate change, according to a statement from the Bank on Monday, in Bali, Indonesia. This is the first…
