Nigeria in 1min: Economic, Business and Financial Headlines - 120721

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Monday, July 12, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @g20org


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COVID-19 Health Updates

  • 11th of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 168,552 cases (New: 12)
  • Discharged: 164,439
  • Deaths: : 2,124 (New: 2)

Source: NCDC Read More


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PROSHARE ECONOMY

Personal Statements by the MPC Members at the 136 MPC Meeting of May 24-25, 2021 - Global growth outlook continues to be good, reflecting largely, activity rebound in the United States and China. The IMF currently projects global growth at 6.0 percent in 2021. Source By Central Bank of Nigeria Read More

High Base Effect and Harvest Season Impact Should Slow YoY Inflation - Signs of improved economic recovery became evident in the U.S. after labour statistics on initial filings for unemployment insurance and on non-farm payroll printed impressively in June. Source By Comercio Partners Asset Mgt Read More

Oil Prices Rise on Strong Fuel Demand - OIR 090721 - Seven straight weeks of inventory draws didn't go unnoticed, and according to the EIA, U.S. gasoline demand rose by 870,000 bpd last week as summer driving season heats up. Source Tom Kool of oilprice Read More

Policy Flashpoints, Resolution Options and Unintended Consequences -LBS EBS - July 2021 - Policy makers in Nigeria have been navigating a treacherous path. This is as they align strategic reforms beneficial to the economy with reducing the short term pain of citizens. Source FDC Ltd Read More

Nigeria's GDP May Decline by $139bn in 2030 - World Bank - A new World Bank report estimates that the collapse of ecosystem services provided by nature including wild pollination, food from marine fisheries and timber from forests could result in Nigeria's GDP declining by $139bn in 2030. Source Punch Read More 

 

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PROSHARE REGULATORS

SEC Proposes Amendments to Its Rules on Half Yearly Returns, Depository and Participants - The Securities and Exchange Commission (SEC) has issued an exposure draft of its proposed sundry and major amendments to the Rules and Regulations of the commission on Half Yearly Returns and Depository and Participants. Source SEC Nigeria Read More 

 

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PROSHARE MARKETS

What To Expect From The Markets This Week - 120721 - The Nigerian Senate on Wednesday approved the request of President Muhammadu Buhari to take new external loans amounting to N2.34tn to fund the deficit in the N13tn 2021 Appropriation Act. Source Proshare Content Read More

NASD OTC Market CAP Decreased by -1.24% WoW to Close at N529.12bn - NASD OTC Securities Exchange Market closed on a positive note YTD as the market recorded an increase in performance. NASD Security Index Year-to-date returns increased by 0.37%. Total volume traded Year-to-Date stands at 1,489,811,801 units in 2902 deals and total Value traded is N10,389,769,534.52. Source NASD Plc Read More

BUACEMENT Holds AGM, Declares N72.3bn PAT, Pays N70bn Dividends - BUA Cement Plc, one of Africa's largest Cement companies, today held its Annual General Meeting for the period ended December 31, 2020 whilst paying dividends of N70billion at N2.067k per ordinary share in a move that shareholders applauded. Source BUA Read More


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PROSHARE BUSINESS

Effectively Assessing the Skills of Your People - The workplace is no longer carrying on with business as usual. New paradigms of business continuity, agility, upscaling, and new skills have radically evolved. Source By Mayowa Oloyede, Senior Consultant, Phillips Consulting Read More

AXA Mansard MyAXA Plus App Emerges as the Most Innovative New Digital App of the Year - AXA Mansard Insurance Plc, a member of the AXA Group and global leader in insurance and asset management, is pleased to announce that it emerged as the winner of the Most Innovative New Digital App of the year in the Insurance section of the just concluded Annual Global Business Outlook (GBO) Awards 2021. Source By AXA Mansard Read More

STL Trustees Wins Double Recognition at the 2021 Instinctbusiness Finance Innovation Awards (IBFIA) - STL Trustees has been recognized as "Africa Trustee Company of the Year" in this year's edition of InstinctBusiness Finance Innovation Awards (IBFIA) which held recently in Accra, Ghana. Source STLTrustees Read More

FG to Unveil Nigerian Developed Barite Soon - Minister - The Minister of Mines and Steel Development, Olamilekan Adegbite, has said that the ministry would soon launch its made in Nigeria Barite. Source Punch Read More

DPR to Unveil Strategy for Strengthening Oil, Gas Sector - The Department of Petroleum Resources (DPR) will in the coming weeks, unveil a collaborative strategy called Maximum Economic Recovery (MER), aimed at strengthening the oil and gas industry as well as ensure the sustainability of the sector. Source THISDAYLIVE Read More

Lekki Port: Amaechi Expresses Satisfaction with Pace of Construction - The minister of Transportation, Rt. Hon Rotimi Amaechi has expressed great satisfaction with the level of progress recorded on the construction of the Lekki Deep Sea Port project. Source LeadershipNG Read More

Nigerian Postal Services Bill will Hurt Private Investment, Says LCCI Boss - The Lagos Chamber of Commerce and Industry (LCCI) has expressed worry over the Nigerian Postal Service's Bill 2021 passed by the Senate, noting that the passage is replete with provisions that are detrimental to private sector investment in the courier industry. Source The Nation Read More

Multinationals Tax Shift Unlikely Until 2022, says Yellen - U.S. Treasury Secretary Janet Yellen on Sunday said that a newly endorsed mechanism to allow more countries to tax large, highly profitable multinational companies may not be ready for consideration by lawmakers until spring 2022. Source Reuters Read More

 

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PROSHARE TECHNOLOGY   

The Nigerian SEC Crowdfunding Rules-Its Impact on Startups and SMEs - On 12 January 2021, the Nigerian Securities and Exchange Commission ("SEC") released its Rules on Crowdfunding ("the Rules"), pursuant to section 13(a) of the Investment and Securities Act 2007 to regulate investment-based crowdfunding in Nigeria. Source Olubusola Oyeyosola Diya of AELEX Read More

 

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PROSHARE FINANCE

The Importance and Myths of Estate Planning - Estate Planning has been defined by Laura Hendrix Ph.D (Assistant Professor Family and Consumer Economics, University of Arkansas System Division of Agriculture Research & Extension) as arranging for the orderly transfer of your assets (property following death). Source By Proshare Finance Read More

Ghana's Real Estate Market Performance - Northcourt - The impact of the pandemic was more pronounced in the hospitality and office submarkets. And while several countries experienced a decline in footfall, the impact on Ghana's retail sector is less noticeable. Office vacancies continue to rise, following an increase in the supply of new office developments. Source Northcourt Read More

The Who, Why, When and How of Planning for the After Life with Wills and Trust - Can one chart a better life for his/her dependents while alive? Or build wealth that can be easily transfer after life? These and many more are the questions that need to be answered as one acquires wealth and journey through adult life. Source Proshare Finance Read More 


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