Nigeria in 1min: Economic, Business and Financial Headlines - 090421

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Friday, April 9, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @ProfOsinbajo


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COVID-19 Health Updates 

  • 8th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 163,581 cases (New: 83)
  • Discharged: 154,005
  • Deaths: : 2058 (New: 0)

Source: NCDC Read More


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PROSHARE ECONOMY

Ogun State Debt Figures - Understanding the Facts, Fiction and Black Spots - We really do not enjoy Joining issues with the current Administration in Ogun State. However, the State Government, in its wisdom, chose to call us out with Its tons of lies and misinformation carelessly crafted to obfuscate issues and concerns raised by the Debt Management Office (DMO). Source Press Release Read More

Headline Inflation to Surge Again Towards 17.8% in March 2021 - The Nigerian Bureau of Statistics (NBS) will release the inflation figures for the month of March on April 15. Our time series model is forecasting a 0.47% jump in headline inflation to 17.8% (±0.2%). This will be the 19th consecutive monthly increase and a 48-month high. Source FDC Ltd Read More

Oil Illusion and Financial Delusion - LBS Executive Breakfast Session - April 2021 - The LBS publication for this month is an upgrade from the usual format. This is because it coincides with the end of Q1 which enables us carry out a review of the quarter as well as provide a quick analysis of Q2. Source FDC Ltd Read More

Marginal Field Licensing: Stimulating Efficiency? - According to a publication released by the Department of Petroleum Resources (DPR), the petroleum industry regulator revoked four of the five Oil Mining Licenses belonging to Addax Petroleum.  Source CSL Research Read More

World Bank to Address Nigeria, Poor Countries' Debt Overhang - The President, World Bank Group, Mr David Malpass, said the group is working actively in collaboration with the International Monetary Fund on the common framework that the G20 established for dealing with debt overhang and debt burdens. Source Punch Read More


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PROSHARE REGULATORS

SEC Cautions on the Proliferation of Unregistered Online Trading Platforms Facilitating Trading - The attention of the Securities and Exchange Commission (the Commission) has been drawn to the existence of several providers of online investment and trading platforms which purportedly facilitate direct access of the investing public in the Federal Republic of Nigeria to securities of foreign companies listed on Securities Exchanges registered in other jurisdictions. Source SEC Nigeria Read More

SEC Proposes a New Rule, Public Companies to Report Income Earned From Unclaimed Dividends - All Registrars shall ensure that all mandated accounts are credited with outstanding unclaimed dividends within 48 hours of receipt of the dividend mandate by shareholders. Source SEC Nigeria Read More


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PROSHARE MARKETS

Investors Gain N13.50bn as NSEASI Inches Up Further by 0.07% Amid Improved Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.07% to close at 38,799.83 basis points as against +0.02% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.65%. Source Proshare Markets Read More

CCPC Fines Cement Companies for Anti-Competitive Trade Practices and Orders Adjustment of Prices - The Board of Commissioners of the Competition and Consumer Protection Commission (CCPC) has fined Lafarge Zambia Plc and Mpande Limestone Limited 10% of their annual turnovers for the year 2019 and another 10% of their 2020 annual turnovers for price-fixing and division of markets. Source CCPC, Zambia Read More

S&P Closes at Record on Tech Boost as U.S. Treasury Yields Retreat - The S&P 500 closed at a record high on Thursday, as U.S. Treasury yields fell following softer-than-anticipated labor market data, boosting technology and other growth stocks. Source Reuters Read More


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PROSHARE BUSINESS

Bill Hwang Had $20 Billion, Then Lost It All in Two Days - Before he lost it all-all $20 billion-Bill Hwang was the greatest trader you'd never heard of. Starting in 2013, he parlayed more than $200 million left over from his shuttered hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, Hwang, 57, would have stood out among the world's billionaires.Source Bloomberg Read More

Africa's Climate Change Impact Rises to $50b Yearly - The African Development Bank (AfDB) has said the impact of climate change on the continent could rise to $50 billion each year by 2040, with a further three per cent decline each year in gross domestic product (GDP) by 2050. Source The Nation Read More

U.S. Weekly Jobless Claims Rise Again, but Labor Market Recovery Gaining Steam - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but the increase likely understated the rapidly improving labor market conditions as more parts of the economy reopen and fiscal stimulus kicks in. Source Reuters Read More 

 

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PROSHARE TECHNOLOGY

MTNN Clarifies Dispute Over the Reduction in Airtime Sales Commission Using Banking Channels - The sale of airtime through our banking channel partners was temporarily suspended by the banks on April 2, 2021 due to a dispute over the reduction in cost of sales associated with the channel. Source NSE Read More 

Court Sides Google in $9bn Oracle Suite - The US Supreme Court has handed Google victory in a court battle spanning more than a decade, ruling that the technology giant did not violate copyright infringement laws when using parts of Oracle's software code to develop its Android operating system. Source THISDAYLIVE Read More


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