Nigeria in 1min: Economic, Business and Financial Headlines - 010221

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Monday, February 01, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: EcoGraphics


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COVID-19 Health Updates 

  • 31st of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 131,242 cases (New: 685)
  • Discharged:  104,989
  • Deaths: : 1586 (New: 8)

Source: NCDC Read More


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PROSHARE ECONOMY

Outlook 2021: Examining Global Economic Indicators - PMI - At the start of the year 2020, some advanced economies recorded PMI's above 50 indicating an expansion e.g., the United States recorded a PMI of 50.8 in January, while the UK's PMI was 50, and Canada 50.6. On the flip side, some advanced economies recorded PMI's below 50 indicating a contraction. Source Proshare Research Read More

Outlook 2021: Examining Global Economic Indicators - GDP - Most economies around the world have had the difficult task of choosing between lives and livelihood. Many nations temporarily locked their economies to prevent the spread of the virus, which had a devastating effect on businesses, corporates, individuals, and the overall economy. Source Proshare Research Read More

Proshare Report Launch: Leveraging A Crisis and Understanding the Mega Trends of a Crucial Year - Proshare on Thursday, January 28, 2021, hosted a virtual launch of its 12th edition of the annual review and outlook reports tagged 2020 Review and 2021 Outlook Reports. Source Proshare Research Read More

Ogun State: 52 Weeks of Building Our Future Together - "52 Weeks of Building Our Future Together" is a documentation, or perhaps a compendium, of what we have been able to achieve within the first year of our Administration. Source Ogun State Government Read More

 

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PROSHARE REGULATORS

Investment by CIS in Unlisted Securities Rules and Regulations in Nigeria Released by SEC - The sundry amendment on investment by collective investment schemes in unlisted securities/additional disclosure/497 in nigeria. Source SEC Nigeria Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week - 010221 - The Monetary Policy Committee (MPC), of the CBN, voted to unanimously keep the Monetary Policy Rate (MPR) at 11.5%.  It kept other parameters such as Cash Reserve Ratio (CRR), liquidity ratio, and asymmetric corridor unchanged. Source Proshare Content Read More

NCM 2020: NSEASI Closed Green in 9 Out of 12 Months in 2020 - The Nigerian Stock Market recorded an unimpressive performance in Q1 2019 with a -20.65% loss recorded. Positive market sentiment further permeated the market in subsequent quarters as investors renewed bargain hunting on the NSE bourse. The NSEASI inched up by +14.92% and +9.61% in Q2 and Q3 2020 respectively. Source Proshare Research Read More

NCM 2020: Markets Were Volatile Globally in Year 2020 as COVID-19 Pandemic Induced Uncertainty - Markets all over the world were volatile during the year as the coronavirus pandemic caused high levels of uncertainty, the emergence of new gainers, and losers in markets. Despite the effect of the coronavirus on some economies, their market performance was positive during the year. Source Proshare Research Read More

NCM 2020: NSE Market CAP Closed at US$55bn Below the Peak of US$84bn Recorded in 2013 - Analysis on the impact of Naira devaluation on the Nigerian Equities Market in the last ten (10) years reflected that the NSE Market Cap has continually dropped each time the Naira to Dollar exchange rate changes. Source Proshare Research Read More

Analysis: To the Brink and Back on Gamestop - Wall Street vs Reddit - On three hours of sleep a night and with no time to eat, one New York-based hedge fund manager overseeing billions in assets called last week the most stressful of his life. Source Reuters Read More

Goldman Sees Hedge Fund Exposures Close to Records, Ongoing Sell-Off Risk After Gamestop Swings - U.S. hedge funds last week bought and sold the most stock in more than 10 years amid wild swings in GameStop Corp shares that many had bet against, but their market exposure to stocks is still near record levels, according to an analysis by Goldman Sachs Inc. Source Reuters Read More


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PROSHARE BUSINESS

Reverse VAT Hike, Reduce Port Charges, MAN Tells FG - Nearly one year after the Federal Government increased the country's Value Added Tax rate, manufacturers want the 50 per cent hike in the VAT rate to be reversed. Source Punch Read More

FG Gets ICRC Certificate, Begins Highways Concession Procurement - The Federal Government on Friday received an Outline Business Case Certificate of Compliance and stated that it was now set to commence the procurement process for highways concession. It received the compliance certificate from the Infrastructure Concession Regulatory Commission. Source Punch Read More

NNPC, Partners Take FID on $3.6bn Petrochemical Plant - The Nigerian National Petroleum Corporation and its partners on Friday took the Final Investment Decision for the construction of a $3.6bn gas processing and methanol plant. Source Punch Read More

Lagos, UK Sign MoU to Improve Access to Energy - As part of government efforts in improving accessibility to off-grid electricity in Lagos State, Governor Babajide Sanwo-Olu has signed a memorandum of understanding (MoU) with the British Government funded Africa Clean Energy Technical Assistance Facility (ACE TAF). Source The Nation Read More 


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