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Markets

Ghana to Buy Oil With Gold Instead of US Dollars

Ghana has announced it will buy oil using gold rather than U.S. dollars as the West African country grapples with the worst economic crisis...

Yuan, Commodity Currencies Slide as China Covid Protests Continue in Major Cities

The yuan slumped, the Australian dollar led commodity currencies lower and the greenback strengthened against most major peers as protests in China against Covid...

We’re recruiting, Twitter 2.0 – The Everything App: Elon Musk shares Slides of Twitter Company Talk

The world’s richest billionaire and the new Twitter owner Elon Musk has announced a slew of changes to the microblogging site in just a month of...

Rising Interest Rates Will Quickly Put Pressure on These Firms

The Central Bank of Nigeria (CBN)  elected to raise the benchmark interest rate by 100 basis points to 16.65 percent last week (November 22). However,...

Banks’ N1.0 trillion AMCON Charge Worry Shareholders

Shareholders are worried that the mandatory regulatory levies imposed on banks by the Asset Management Corporation of Nigeria (AMCON) has become a nuisance as...

FX Demand by Nigerians Studying in UK, U.S Pressures Naira

Surging Foreign Exchange (FX) demand by Nigerian students studying abroad in places like the United Kingdom (UK) is adding to pressure on the Naira. The...

CBN Receives Zero Dollars From Nigeria’s Crude Oil Sales – Emefiele

Official foreign exchange receipt from crude oil sales into Nigeria’s official reserves has dried up steadily from above US$3.0 billion monthly in 2014 to an absolute...

Nigeria’s Biggest Firms Post N1.71 trillion Profit as Recession Looms

Nigeria's biggest listed firms, members of the NGX-30 index posted N1.71 trillion in cumulative profit, even as analyst warn that a profit recession looms. Eight...

Chevron to Resume Venezuela Oil Output as US Eases Sanctions

The Biden administration granted Chevron Corp. a license to resume oil production in Venezuela after US sanctions halted all drilling activities almost three years...

Elon Musk Says he Will Create his Own Smartphone if Apple and Google Drop Twitter App

New Twitter boss Elon Musk said he’s not opposed to the idea of creating his own smartphone if Apple and Google remove the app...

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