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…
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…
The Managing Director/Chief Executive, Bank of Industry (BoI), Mr. Olukayode Pitan yesterday disclosed that the sum of N2.8 billion had been disbursed to entrepreneurs in Kaduna State. He said over 280 small and medium scale enterprises (SMEs) and 20,550 MSMEs benefited from the intervention in the state. Speaking at the 20th edition of National Micro,…
The Federal Government realised N3.9tn in tax revenue between January and September this year and this is N1tn higher than the N2.9tn realised in the corresponding period of 2017. The Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, disclosed this in a presentation made at the meeting of the African Union High Level Panel on…
J.P. Morgan is getting less optimistic about the trade conflict between the U.S. and China. The firm lowered its rating for Chinese equities to neutral from overweight, predicting the escalating trade war between the countries will affect China’s economy next year. As analyst, anticipate a negative 1 percentage point impact on China’s GDP growth from…
The pension sector no doubt, is one of the fast growing sectors of the economy since the introduction of the funded Contributory Pension Scheme (CPS) Indeed, with the quantum of assets accumulated by the sector, Nigeria has no doubt recorded significant success in the reformation of its pension sub. Aside the quantum of assets accumulated…
Though production level continued to grow as well as new orders, rising inventory as indicated by the Manufacturers Association of Nigeria (MAN), may be responsible for the slower movement of the nation’s Purchasing Managers’ Index (PMI) last month. According to the latest Central Bank of Nigeria (CBN’s) Manufacturing Purchasing Managers’ Index (PMI) report, September Manufacturing…
