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Tuesday, August 4,
2020 / 6:00 AM / By
News Aggregator / Header Image Credit: Ecographics
COVID-19 Health Updates
Source: NCDC Read More
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PROSHARE ECONOMY
PMI Reading No 88: Weaker Yet Above Water - Our manufacturing Purchasing Managers' Index (PMI), the first of its genre in Nigeria, declined gently from 53.9 to 52.8 in July. Our partner, NOI Polls, has compiled the data. Source FBNQuest Research Read More
Nigeria's Gross External Reserves: An Historical Perspective - The major objectives of external reserve management in Nigeria are ensuring the preservation of Capital, providing adequate liquidity to meet unforeseen needs and ensure that the reserves are readily available to finance day-to-day official transactions, as well as earning returns within the set tolerable risk limits. Source PFI Capital Read More
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PROSHARE MARKETS
Unity Bank H1 2020 Results: A Profit in Rebound, Despite Negative Shareholder Funds - Unity Bank Plc pulled off a strange feat in H1 2020, despite operating on the equivalent of petrol fumes as represented by its negative shareholder funds, the bank was able to muster a half year profit before tax of N1.12bn which was +6.46% higher than its bottom line profit in the contemporary period of 2019. Source The Analyst Read More
Investors Gain N37.76bn as NSEASI Inches Up by 0.29% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.29% to close at 24,766.12 basis points as against +0.18% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -7.73%. Source Proshare Markets Read More
BUACEMENT Declares N34.8bn
PAT in Q2 2020 Results, (SP:N40.20k) - BUA Cement Plc released
its Q2 2020 unaudited results for the period ended June 3oth, 2020. Revenue
grew by 12.7% to N101bn from N90bn in the previous quarter. Profit before tax
grew by 9.8% to N39.2bn. Source NSE Read
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BUACEMENT Plc Posts Impressive H1 2020 Results, Revenue Increases by 12.7% - One of Africa's largest cement producers, BUA Cement, has announced an impressive 2020 half-year results declaring revenues of N101.3billion and a Profit After Tax of N34.82billion representing an increase of 12.7% and 13.74% respectively from the corresponding period in 2019. Source BUA Cement Plc Read More
Buy And Sell Transaction Charges On The NSE as @Aug 03, 2020 - The recent increase in one of the fees can be seen in VAT occasioned by the new VAT rate of 7.5% announced by the Federal Government earlier this year. This represents a 50% increment from the previous 5% VAT Rate. Source Proshare Research Read More
Afrinvest Stock Recommendation for the Week 030820 - Last week, the domestic equities market closed positive as the NSE All-Share Index appreciated 1.1% w/w to settle at 24,693.73 points, losing only on 1 of 3 trading sessions. Consequently, market capitalisation rose N138.8bn w/w to close at N12.9tn while YTD loss moderated to -8.0%. Source Afrinvest Research Read More
MTN Nigeria Plc Q2'20 Results - N3.50 Interim Dividend is Justified by Robust Cashflow - MTN Nigeria Plc (MTNN: TP - N149.36: BUY) reported a 13.8% YoY contraction in profit after tax to N43.7 billion in its Q2'20 results. This result and the strong first-quarter performance translate to a 4.7% contraction in earnings to N94.9 billion over the first six months of the year. Source CardinalStone Research Read More
Ardova Plc
Q2'20 Unaudited Results - Cost Efficiency Results in Operating Profit in Q2'20 - Ardova Plc (ARDOVA : TP - N14.42) has reported a 75.8% YoY
decline in profit after tax to N514.9 million in its Q2'20 unaudited results. Source CardinalStone Research
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PROSHARE BUSINESS
Nigeria's Top Ten Income Earning Executives - Moolman was the highest-paid CEO in 2019. He earned
an annual remuneration of N585.94m in 2019. His annual remuneration grew
slightly by +2.61% in 2019, it increased from N571m in 2018 to N585.94m. Source
Proshare Research Read
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Shoprite Discontinues Nigerian Operations, to Initiate a Formal Process - Following approaches from various potential investors, and in line with our re-evaluation of the Group's operating model in Nigeria, the Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited. Source Shoprite Holdings Ltd Read More
FIRS Grants One Week Extension for Companies
to File Returns - The Executive Chairman, Federal Inland Revenue
Service (FIRS), Mr. Muhammad Nami, has announced a further one-week extension
to the July 31 deadline for companies with December accounting year end to file
their 2020 annual income tax returns. Source THISDAYLIVE Read
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WACT to Deepen Investment in Nigeria, celebrates
20th Anniversary - NIGERIA's leading container terminal, the West
Africa Container Terminal (WACT), has restated its commitment to deepen its
investment in Nigeria, particularly in increasing container handling capacities
at the Onne Port. Source Vanguard Read
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PROSHARE TECHNOLOGY
Firstbank Hosts FINTECH Summit 4.0, Promotes the Growth and Reinvention of Banking Technology - First Bank of Nigeria Limited, Nigeria's leading financial inclusion services provider, has announced that the 2020 edition of its annual FinTech Summit is scheduled to hold on Thursday, 6 August 2020 by 12.00 noon. The event will be virtually held via Zoom Meetings. Source FirstBank Read More
Google Owner Alphabet Issues Record $10
Billion Bond at Lowest-Ever Price - Alphabet Inc (GOOGL.O) borrowed $10 billion
in the investment-grade corporate debt market on Monday, the Google parent's
largest ever bond issue, which it secured at its lowest-ever cost of financing.
Source Reuters Read
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PROSHARE FINANCE
Protecting Us Through
Insurance of Public Buildings - Public buildings are what we know them to
be - places that are open for public use. However, many of us are unaware of
the law that requires the owners of public places like office blocks, hotels,
schools, hospitals, markets and tourist centres, to take up insurances that
will compensate us in the event of any injuries or deaths that occur to us
while there. Source Ekerete Ola Gam-Ikon Read
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