Nigeria in 1min: Economic, Business & Financial Headlines - 140714

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Monday July 14, 2014 7.00 AM / Proshare News

NIGERIAN ECONOMY
External Reserves Stage Recovery, Rises by $1.030b in One Month - Nigeria’s beleaguered foreign reserves seems to be gradually regaining its upswing as it rose by $1.030 billion in the last one month to close at $38.136 billion at the weekend. Source Thisday Read More


FG, seven states raise N255.5b from capital market - The federal government and seven states in the country have sourced a total of N255.5 billion through bonds from the capital market between 2013 and this year to shore up their revenue bases and developmental  needs Of this amount, the federal government accounted for  a total of N85 billion or 33 per cent , while the balance went to the states. Source Daily Independent Read More
 

Traders Threaten to Shutdown Ikeja Computer Village for Three Days - Following the raid on alleged fake phone dealers at the Ikeja Computer Village in Lagos by the Standards Organisation of Nigeria (SON), the Phone and Allied Product Dealers Association of Nigeria (PAPDAN) has threatened to close down the market for three consecutive days, beginning from today Monday, in protest of the raid. Source Thisday Read More
 

Nigeria ranks behind Togo, Mali, others on free-visa access to countries - Africa’s largest economy, Nigeria, has become the first on the continent to completely embrace digitised visa acquisition procedures with e-visas. The announcement made last week raised the hope that the development will likely increase the number of business tourists and other visitors to the country. Source BUSINESSDAY Read More


Economic Outlook: Inflation Forecast for June 2014 - The headline inflation for June 2014 is expected to be released by the National Bureau of Statistics on the 17th of July, 2014. Headline inflation for May 2014 came in at 8.00%, representing an increase from 7.90% recorded in April 2014 (fig. 1). On a m/m basis, prices increased by 0.78% in May 2014 lower than 0.62% in the previous month. Source Proshare Read More





CAPITAL MARKET
Sentiment Analysis Report – W/E July 11, 2014 - Analysis of the market activity in the week ended July 11, 2014 technically revealed a significant divergence between market optimism and the key benchmark indices. This could be attributed to the consistent losses booked in the week by Dangote Cement Plc, the market leader by capitalisation. Source Proshare Read More


NSEASI extends loses as speculators hit big CAPs harder - The equities market closed today on negative note, as NSE ASI depreciated by -0.40% to close at 42,832.85 basis points, compared with the -0.08% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +3.64%. Source Proshare Read More


Investment Guide: Equities Market halts bullish run …as NSEASI dipped 0.46% - The Nigerian stock market’s WoW positive run was halted this week, as the index depreciated by 0.46%to end on 42,832.85Pts. With this, YtD return settles at 3.64%. Volume and value traded for the week increased by 16.25% and 18.93% respectively, while market capitalization dipped by 0.46%. Source Proshare Read More


So what is new? Foreign Equity Portfolio Participation is 62.89% - The flow of capital from one sovereign nation to another in terms of foreign investments has been shown to be a significantly indicator of confidence and the economic stature of the destination economy. Source Proshare Read More
 


 

UNLISTED STOCKS
OTC creates an alternative to Dematerialization - Dematerialisation is the process of converting a physical certificate into a digital account balance at the Central Securities Clearing System [“CSCS”] – much like the conversion of a physical cash note to a bank account balance.   Source Proshare Read More


NASD completes FIRST year of Market Operations - The NASD OTC market launched for operations in July 2013 bringing to an end a very long gestation period. The anniversary of commencing operations coincided with NASD's 1st post launch Annual General Meeting in June 2014. Source Proshare Read More 


41 Public securities that beat the SEC deadline - In compliance with Section 54 (1) of the Investments and Securities Act No. 27, 2007 and Rule 279 (1) (a) of the SEC Rules and Regulations , several companies completed their registration of their securities with the apex regulator.  This means that they are now eligible to trade on the NASD OTC market. Source Proshare Read More
 




POLICY / REGULATIONS
NDIC Denies Seeking Power To Liquidate Insurance Firms - The Nigeria Deposit Insurance Corporation (NDIC) has denied newspaper reports last week that it is seeking powers to liquidate insurance companies and terminate the insurance companies’ licences. Source Leadership Read More


BOND MARKET

The Nigeria Bond Watch - Review and Outlook @071414 - In line with our expectations, the direction of the market during the review week was dictated by the treasury & OMO bills auctions and the release of the July 2014 FGN bonds auction offer circular by the Debt Management Office (DMO). Source Proshare Read More


$300m Diaspora bond attracts investors as DMO advances on issuance - Investor interest is building up on Nigeria’s $300 million bond set to debut before the end of the year, just as the Debt Management Office (DMO) advances preparations for the issue. . Source BUSINESSDAY Read More
 

CORPORATE EARNINGS
Corporate Earnings for the Week Ending July 11, 2014 - Source Proshare Read More





PRODUCTS & SERVICES
TheAnalyst to Launch  Real-Time Stock Quotes for Retail Investors
  - TheANALYST, Proshare’s dedicated data, research, analysis, and tools website is very excited to announce that real-time data/quotes on Nigerian Capital Market Securities will now be available for its subscribers, having complied with the NSE data usage requirement(s) to ensure it operates the service under proper governance and best practice principles. Source Proshare Read More


The Nigerian Stock Exchange Re-Launches New Website - The Nigerian Stock Exchange (NSE) has announced today, the completion of the upgrade and re-launch of its website Source Proshare Read More


UBA unveils salary advance credit card for workers - UNITED Bank for Africa Plc (UBA), has announced the introduction of a new product “U-Advance Card,” a payment card that allows workers who operate a salary account with the to get a credit advance ahead of pay-day. Source Guardian Read More 


3line partners FCMB on agency banking services - TO further serve the unbanked and under-served in the country, 3line Card Management, a key provider of financial inclusion solutions and FCMB Nigeria Plc have partnered to provide agency-banking services to the segment of the market. Source Guardian Read More


Ecobank launches premier banking service in Nigeria - ECOBANK Nigeria has unveiled its dedicated banking service delivery, targeted at high net worth customers of the bank. Source Guardian Read More 
 

Sterling Bank flags-off Pan Nigeria ATM activation - Sterling Bank has commenced a four-week pan Nigeria Automated Teller Machines (ATMs) activation at selected Sterling Bank ATM locations in the country. Source Daily Trust  Read More


Access Bank launches ‘W Initiative’ to empower women  - Access Bank, in its effort to reduce unemployment and expand Small and Medium Enterprises (SMEs) in the country, has launched an on-line networking platform for women, the W Initiative, designed to inspire, connect and empower women from around the world. Source Daily Trust  Read More

 
GTBank win Euromoney’s “Best Bank in Africa” award - Guaranty Trust Bank plc was recognised as the ‘Best Bank in Nigeria’ and ‘Best Bank in Africa’ at the 2014 Euromoney Awards ceremony held recently in London. Source Daily Trust  Read More
 

Union Bank Cards Now Accepted on Paypal - Union Bank of Nigeria Plc has announced that its electronic cards – Visa and MasterCard, are now accepted on the PayPal platform.PayPal is an international e-commerce platform that facilitates online payments and money transfers to over 190 countries. It is one of the fastest and safest ways of paying and getting paid online. Source Thisday  Read More



POLITICS
The Nigerian Military and the Fangs of Boko Haram - Since the commencement of Boko Haram’s insurgency, a fundamental concern of many Nigerians has been about the capacity of the Nigerian armed forces to contain the terrorists in good time. Source Proshare Read More
 

Impeachment: Panel indicts Nyako - There were indications last night that the panel raised by the Adamawa State House of Assembly to probe the allegations of misappropriation of funds had indicted the state governor, Murtala Nyako. Also, the panel might have cleared his deputy, Bala James Ngilari. The panel is expected to submit its report to the state House of Assembly today. Source Vanguard Read More
 

Boko Haram Bombs Bridge Linking Borno To Gombe - A highway bridge along the Maiduguri-Biu-Gombe road linking Borno to Gombe State was blown up Sunday morning by Boko Haram insurgents, thus dashing the hope of. Source: TheWILL Read More...


Boko Haram Leader Claims Blast In Nigeria’s Lagos – AFP: Boko Haram leader Abubakar Shekau has claimed responsibility for two explosions on June 25 at a fuel depot in Lagos, Nigeria's commercial hub, AFP reported on Sunday, which, if true, would be the first recorded. Source: TheWILL
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COMMODITIES
Nigeria to Grow Crude Oil Reserves to 40bn Barrels - The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, yesterday disclosed that Nigeria was working to accumulate 40 billion barrels of crude oil reserves and produce four million barrels per day. Source Thisday  Read More


Nigeria lost N376bn to pipeline vandalism in five years - Nigeria has lost over N376 billion between 2008 and 2013 as a result of continued vandalism of the country’s crude oil pipelines, Managing Director, Pipelines and Products Marketing Company (PPMC) Mr. Haruna Momoh, has said. Source Daily Trust Read More
 

GLOBAL MARKETS
Asia Stocks Rise First Time in 5 Days, Led by Health Care - Asian stocks rose, with the regional benchmark gauge on course for its first gain in five days, as telecommunications firms and health-care shares advanced. Source Bloomberg Read More


European Factors to Watch-Shares to edge higher from near 2-month lows - European stocks were seen opening slightly higher on Monday, kicking off the week on a positive foot after a key index posted its biggest weekly loss in four months to leave it near its lowest since May. Source Reuters Read More


No way to treat a criminal - WHAT is the appropriate penalty for a firm that abets genocide? Roughly a year’s profit and the sacking of a dozen employees, the American authorities concluded this week. Source The Economist Read More


Cynk Technology shares suspended after surging 23,000% - The US Securities and Exchanges Commission (SEC) has suspended trading in Cynk Technology after shares in the little-known social networking firm surged more than 23,000% in the past month. Source BBC Read More

 

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