As Bear Bites Harder, Opportunities that Lay Ahead June Global Market Round Up: The Global Equity markets in June, recorded a sharp rally, as the developed markets inched higher around 6.5%, while the global equity market returns for the first half of the year stood at 17%, however this return was fueled by rejuvenated…
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…
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…
Skyway Aviation Handling Company Plc has revealed plans to expand as its N1.89bn Initial Public Offering draws to a close. The firm, in a statement on Monday, said it planned to consolidate its leading position in the Nigerian aviation handling industry by expanding into other West African countries as part of efforts to ensure long-term…
The deal led by the Organisation of Petroleum Exporting Countries to cut 1.2 million barrels per day from the start of this month should bring balance back to the oil market in the first quarter of 2019, the UAE’s Energy Minister, Suhail al-Mazrouei, has said. The minister said last month that OPEC and non-OPEC producers…
The Federal Government has proposed to spend a total of N2.26tn on debt servicing in the 2019 fiscal year, this was contained in the detailed budget proposal which was obtained by our correspondent in Abuja. The proposal for debt servicing is more than 25 per cent of the N8.83tn which the Federal Government proposed for…
