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Monday, May 20,
2019 / 06:40 AM / By
News Aggregator / Header Image Credit: @AVONHMO
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PROSHARE ECONOMY
The Price of 50kg of Tomatoes Moved Up By 70% to
N13,000 - Domestic food prices are trending upwards after months of relative
stability. In particular, tomatoes (50kg) have jumped by over 70% to N13,000
and a 50kg bag of rice is up 21% to N17,000. Source FDC Read More
From Recession to Growth: The Story Of Nigeria’s
Recovery From The 2016 Economic Recession - Being a
Paper presented by Godwin I. Emefiele, Governor, Central Bank of Nigeria at the
Special Convocation of the University of Nigeria, Nsukka, on Friday, May 17,
2019 at the Princess Alexandra Auditorium, University of Nigeria, Nsukka, Enugu
State. Source CBN Read More
Weekly Economic and Financial Commentary – WE 17th
May, 2019 - This week, the National Bureau of Statistics
(NBS) released inflation data for the month of April earlier than scheduled. In
a twist from the downtrend observed from the start of the year, inflation for
the month of April ticked up by 11.37% YoY, far from 11.25% YoY recorded in the
prior month. Source ARM Read More
Middle East Tensions Put Oil Markets On Edge – OIR 170519 - Oil rose on Friday morning on supply outages and Middle East tensions before trade war fears dragged prices down again. Sentiment continues to swing between fears of weak demand in the wake of the U.S.-China trade war and fears of supply outages due to conflict in the Middle East. Source Oilprice Read More
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PROSHARE REGULATORS
SEC Announces
Guidelines For Cross-Border Securities Issuance - The Securities and
Exchange Commission says the West African Securities Regulatory Authorities has
drawn up draft guidelines on cross-border issuance of fixed incomes and a
mutual recognition agreement for the region. Source Punch Read
More
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PROSHARE
MARKETS
Forte Oil Plc - Business Repositioning Signals New Dawn - After the recent sale of the power and upstream businesses in Nigeria as well as the downstream operation in Ghana, Forte Oil Plc (FO) is well positioned for growth through an expansion of its retail footprint in the Nigerian downstream oil and gas space. Source Cardinal Stone Read More
Bullish Post Listing Market Reaction on MTNN Stock - It was all yellow at the Nigeria Stock Exchange yesterday as one of the most anticipated transactions was consummated with the listing of 100% of the issued and paid up ordinary shares of MTN Nigeria Communication by way of introduction. Source Anchoria AM Read More
NSEASI Inches Up By 0.08% WoW As Market Closes The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by 1.53% to close at 28,871.93 points as against 0.54% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -8.14%. Source Proshare Read More
Market Review and Round-Up of Corporate News Announced During The Week Ending 170519 - The equities market recorded mixed performance – the listed equities market recorded +0.08% gain WoW while the NASD OTC also recorded -0.59% loss WoW. Source Proshare Read More
NASD OTC Market CAP Decreased By -0.59% WoW To Close At N546.27bn - As at close of trade week on 17 May 2019, market Capitalisation decreased to ₦546.27 billion from last week's previous ₦549.50 billion, which shows a 0.59% decrease in Capitalisation. Also the USI for the week ending 17 May 2019 recorded an decrease from 764.86 points to 760.36 points. Source NASD Plc Read More
MTN Nigeria Signs N200bn Medium Term Loan Facility - Leading Information and Communications Technology (ICT) company, MTN Nigeria Communications Plc (“MTN”), today announced the signing of a 7-year N200 billion. Source NSE Read More
What To Expect From The Markets This Week - 200519 - The CBN held off conducting an OMO auction today. Despite this, market liquidity moderated to ₦99 billion, however, the Interbank rate declined 129bps to settle at 4.57%. Source Proshare Read More
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PROSHARE BUSINESS
AMCON,
AMPs and Debt Recovery Turnaround – First Glance - The
Asset Management Company of Nigeria (AMCON) and its debt recovery partners
(AMPs) are in a bind as the debt recovery process has so far proven to be long
and arduous. Source Proshare Read More
PoS
Transactions Hit 117,131 In Four Months — NIBSS - Nigeria recorded 117,131
transactions on Point of Sales terminals from January to April, a report from
the Nigerian Interbank Settlement System has indicated. The report, obtained by
the News Agency of Nigeria on Sunday, showed an increase of 42,817 when
compared to the 74,314 transactions that were recorded in the corresponding
period of 2018. Source Punch Read
More
What Will Define My Second Term As CBN Governor
– Emefiele - Mr. Emefiele who spoke to journalists at the weekend in Nsukka
shortly after he delivered a special convocation lecture at the University of
Nigeria (UNN) Nsukka, Enugu state, said he would focus on policies that would
drive down inflation, improve price stability and drive economic growth. Source
Dailytrust Read
More
Dangote Rated 11th Of 50 World Greatest Leaders
- The rating carried out by Fortune Magazine, an American multinational
business magazine headquartered in New York City, United States was released
recently and focused mainly on the businesses run by the men and how they have
used them to impact their society positively. Source Vanguard Read
More
US-China Trade War: Nigeria Faces More Pain Than Gain
- Nigeria, Africa’s top oil producer, like many other economies, is not immune
to the impact of the escalating trade battle between the US and China, with
both countries levying tariffs on each other’s imports. Source Punch
Google Suspends Some Business With Huawei After Trump Blacklist
- Alphabet Inc’s Google has suspended business with Huawei that requires the
transfer of hardware, software and technical services except those publicly
available via open source licensing, a source familiar with the matter told
Reuters on Sunday, in a blow to the Chinese technology company that the U.S.
government has sought to blacklist around the world. Source Reuters Read
More
Oil Jumps as OPEC Signals Continued Cuts and U.S. Threatens Iran
- Oil started the week strongly after Saudi Arabia and other OPEC+ members
signaled intentions to keep supplies constrained for the rest of the year,
while U.S. tensions with Iran ratcheted up as President Donald Trump threatened
the country in a tweet. Source Bloomberg Read
More
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Business
PROSHARE TECHNOLOGY
South
Africa Works On Policy As Fintech Gives Rise To Innovation - South
Africa’s complex financial technology (fintech) domain is in flux and morphing
into never-seen-before services across every aspect of the financial sector,
with regulators and policymakers working on a coordinated approach to
policymaking that will leverage fintech innovation in a way that meets the
needs of the local market. Source Read More
Paving
the Way for Fintech - Fintech can support economic growth and
poverty reduction, by strengthening financial development, inclusion and
efficiency. Yet they may also pose risks to financial stability and integrity,
as well as to consumer and investor protection. Source IMF Read
More
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