Nigeria in 1min: Economic, Business and Financial Headlines - 040821

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Wednesday, August 4, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates

  • 3rd of August 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 175,264 cases (New: 505)
  • Discharged: 165,122
  • Deaths: : 2,163 (New: 3)

Source: NCDC Read More


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PROSHARE ECONOMY

Price Level: High Base Effect to Sustain Disinflationary Trend - In H2-2021, the direction for inflation is expected to take an interesting turn with several factors shaping aggregate price level direction. Some inflationary drivers include food supply shortages and resumption of total deregulation of the downstream oil and gas sector. Source by United Capital Research Read More

FX Policy Deja Vu - Last week, in a surprise announcement, the CBN governor halted the sale of the apex bank's FX to Bureau De Change (BDC) operators. The statement, and reasons given for the action, gave us a feeling of deja vu - the CBN did this in 2016. Source by Coronation Research Read More

IMF Governors Approve a Historic US$650bn SDR Allocation of Special Drawing Rights - The Board of Governors of the IMF has approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion (about SDR 456 billion) on August 2, 2021, to boost global liquidity. Source by IMF Read More 

 

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PROSHARE MARKETS

Investors Gain N163.22bn as NSEASI Inches Up Further by 0.81%, Maintains Positive Posture - Equities market closed today on a positive note, as NSEASI appreciated by +0.81% to close at 38,917.99 basis points as against +0.15% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.36%. Source by Proshare MARKETS Read More

June 2021 Domestic and FPI Report: Activity Level Rebounds as Retail Investors Spur Performance - In the recently released NGX Domestic & Foreign Portfolio Investment Report for June, total value traded grew 3.7% m/m to N100.8bn (US$244.9m) in June from N97.2bn (US$236.3m) in May 2021. Source by CSL Research Read More

Ecobank Nigeria Assures Customers Of Smooth Forex Transaction - Ecobank Nigeria has assured customers that the bank has put in place every arrangement for the implementation of the foreign exchange (fx) policy issued by the Central Bank of Nigeria (CBN). Source by Ecobank Read More

A Stable Policy Environment Would Attract More Private Capital into Nigeria - A stable and predictable policy and regulatory environment will attract private capital into Nigeria, unlocking more opportunities and improving socio-economic activities. Source by Ottoabasi Abasiekong for WebTV Read More

Brewery Sector Update: Resilience at a Snapping Point? - The resilience of players in the Nigerian brewery industry was further tested in 2020, as the spill-over effect of the pandemic amplified the impacts of structural challenges besetting the industry's operating environment. Source by  Afrinvest Research Read More 

 

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PROSHARE BUSINESS

CEO Remuneration 2021 Report: Top 10 CEOs - How the Top Half Get Compensated - The size of CEO pay packs often generates concerns among different stakeholders, of course for a variety of reasons deriving from their equally diverse interests. While members of staff would be interested in assessing how much of the organization's revenue that is shelled out by the corporation to remunerate directors. Source Proshare Research Read More

6 Features on the i-invest App you Should Know - Whenever Forbes releases a list of 'Africa's Richest People', the question that lingers in our mind has always been 'How did they do it?'. Having millions of naira in your account seems like an unattainable plan, especially in a gripping economy, which is why people have begun to find sustainable routes to building wealth. One of such methods is investing. Source by i-invest Read More

Building Sustainable Institutions through Diversity Management - An organization's primary focus is on building and maintaining a workforce capable of achieving its objectives, so it is not surprising that for HR Practitioners, the business case for diversity in the workplace is becoming greater while the conversations are getting louder. Source by Esther Amoye, Senior Consultant, Phillips Consulting Read More

No Plan to Convert Bank Customers' Foreign Currency into Naira, Says CBN - The Central Bank of Nigeria has said it is not planning to convert the foreign exchange in domiciliary accounts of bank customers into naira. This is according to the Acting Director in charge of Corporate Communications, Osita Nwanisobi, who pointed out that those behind the speculations are criminal elements looking to create panic in the foreign exchange market. Source Punch Read More

LCCI Tasks Government on Job Creation, Infrastructure to Check Irregular Migration - With an estimated profit of $150billion yearly from about a 25million people exploited by human traffickers, the Lagos Chamber of Commerce and Industry (LCCI) has asked the government to address factors that drive irregular migrants on dangerous journeys through the creation of jobs and infrastructure that support entrepreneurship, adequate security and vocational skill training opportunities. Source The Guardian Nigeria Read More

After Supporting West Africa's Maritime Body with $5m, Nigeria Quits - Nigeria on Monday announced its exit from the Maritime Organisation for West and Central Africa after contributing over $5m in form of support to the body. Officials of the Federal Ministry of Transportation said the decision to quit the organisation was due to the disregard for the rules of procedure regarding the eligibility of candidates nominated for the position of the Secretary-General of MOWCA. Source Punch Read More

 

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PROSHARE TECHNOLOGY   

Artificial Intelligence (AI) and the New Business space; Challenges, Opportunities and Threats - Survival in the next normal will rest heavily on the integration of artificial intelligence and machine learning into everyday workplace activities, how companies go about doing this will separate winners, losers, and laggards. Source by Teslim Shitta-Bey, CE/ME, Proshare Read More

Alibaba Earnings Down as China Tech Giants Face Turmoil - Chinese e-commerce leader Alibaba Group said Tuesday that it posted lower profit but maintained steady revenue growth, indicating that a government crackdown on the country's tech giants was having little impact on its core business. Source The Guardian Nigeria Read More

Bolt Raises 600m Euros from Sequoia, Others to Continue Building First-Ever Super-App - Bolt, the leading ride-hailing and mobility platform, has raised 600 million Euros in a funding round that increases its valuation to over 4 billion Euros. The funds will boost its new 15-minute grocery delivery service and to accelerate the expansion of its existing mobility and delivery products. Source The Nation Read More


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