Nigeria in 1min: Economic, Business and Financial Headlines – 071218

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Friday December 07, 2018 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

Oil Prices Slide as OPEC is Seen Cutting Output Less Than Expected-OPEC is meeting at its headquarters in Vienna, Austria, with the aim of reaching an accord over production levels for the next six months. Source Proshare Read More 

FG, Oil Marketers Agree On Fuel Subsidy Payment - The Federal Government and petroleum marketers on Thursday agreed on how the outstanding fuel subsidy claims would be settled by the government.  Source Punch Read More 

Global Export Near $19.6tr In 2018 Amid Slow Economic Recovery - Although Nigerian non-oil exporters express optimism of recovery in 2019, latest data from the United Nations Conference on Trade and Development (UNCTAD), has shown that global merchandise exports could grow by 10.4 per cent this year, hitting almost $19.6 trillion. Source Guardian Read More 

FG Issues N100bn Sovereign Sukuk At 15.7% - Abuja – The Federal Government has begun the sale of its second tranche 7-year N100 billion sovereign sukuk, the Debt Management Office (DMO), said on Thursday. Source Vanguard Read More 

 U.S. Becomes a Net Oil Exporter For The First Time In 75 Years - America turned into a net oil exporter last week, breaking almost 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what U.S. President Donald Trump has branded as "energy independence. Source Bloomberg Read More

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PROSHARE REGULATORS

SEC: E-Dividend Registration’ll Boost Liquidity - The Securities and Exchange Commission (SEC) has enjoined more Nigerians to take advantage of the on-going e-dividend registration in a bid to reduce the unclaimed dividends profile as well as increase liquidity in the capital market and the economy. Source TheNation Read More 

 

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PROSHARE MARKETS

FCMB Group Q3 2018 Results Review: Stellar YoY Earnings Growth Driven By FX Gains-FCMB’s Group’s (FCMB) Q3 2018 pre-tax earnings came in well ahead of our forecast. The positive surprise was driven by revaluation gains which boosted the non-interest income line. Source Proshare Read More 

US-China Trade War Direct Impact via Supply Chains Limited-The impact of the US-China trade war on other major economies through supply-chain linkages will be highest in Korea and Japan and reflects their sales of intermediate products to China that are ultimately bound for the US market. Source Proshare Read More 

Afromedia Plc Applies For Extension of Time to File The AFS For The Period Ended Sep 30 2018-Afromedia PLC ("the Company") hereby notifies its shareholders, capital market participants, and The Nigerian Stock Exchange (“The NSE”) that the Company will regrettably be unable to meet the statutory deadline for filing its Audited Financial Statement (AFS) for the year ended 30 September 2018 (2018 AFS) within the due date of 31 December 2018 as prescribed by The Exchange's Rules on Filing of Accounts and Treatment of Default Filing (“Default Filing Rules”). Source Proshare Read More

Investors Lose N121.42bn as Market Sentiment Turns Negative; NSEASI Sheds -1.07%-Equities market closed today on a negative note, as NSEASI depreciated by -1.07% to close at 30,819.10 basis points as against +0.47% appreciation recorded previously. Source Proshare Read More

 

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PROSHARE BUSINESS 

UAC Announces the Retirement of Mr. Abdul Akhor Bello as Group CEO-UAC of Nigeria has announced the retirement of CEO, Abdul Bello, effective 1 January 2019 (see attached). Source Proshare Read More

 

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PROSHARE TECHNOLOGY

2018 Accion Nigeria Seminar Explores Digitization As a Tool for Deepening Financial Inclusion - The Accion Microfinance Bank as part of its commitment to creating value in the Nigerian financial service industry, hosted the 2018 edition of its annual financial inclusion seminar in Lagos. Source Proshre Read More

 Top Cfos Are Being Targeted By a Sophisticated Email Scam - A group of hackers based in Nigeria is trying to trick thousands of top executives across the globe into sending them company funds. Source CNN Read More


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