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Tuesday, October 13, 2020 / 6:00 AM / By News Aggregator / Header
Image Credit: Twitter; @victoradewale_
COVID-19 Health Updates
Source: NCDC Read More
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PROSHARE ECONOMY
Headline
Inflation to Remain Stubbornly High in Q4'20 - Food inflation increased for the 6th consecutive
month to 16.0% in August and is projected to rise again to 16.54% in September
in spite of the harvest. This is largely due to supply shortages triggered by
flooding and rising insecurity in the food belt. Source FDC Read More
Nigeria's 2021
Budget of Economic Recovery and Resilience - Following the approval of the 2021 - 2023
Medium-Term Expenditure Framework and Fiscal Strategy Paper, President Buhari
has presented the 2021 Budget (Appropriation Bill) to the joint session of the
National Assembly. Source PwC Read More
South Africa Won't Meet Debt Targets, President's Council Says - South Africa won't be able to meet its finance ministry's debt targets and it may be undesirable for it to attempt to do so at a time when the economy is being battered by the fallout from the coronavirus, according to an advisory panel appointed by President Cyril Ramaphosa. Source Bloomberg Read More
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PROSHARE MARKETS
Investors Lose N40.67bn as NSEASI Dips by -0.27%
to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated
by -0.27% to close at 28,337.49 basis points as against -0.46% depreciation
recorded previously. Its Year-to-Date (YTD) returns currently stands at +5.57%.
Source Proshare Markets Read More
Anchoria Fixed Income Monitor: Naira Strengthens as CBN Continues Forex Sales - Nigeria's currency strengthened by 1.72% week-on-week as the Naira sold for N457/$ compared to N465/$ the previous week. Naira appreciation may be attributed to improved liquidity as the Central Bank is solely committed to its weekly forex sales. Source Anchoria AM Research Read More
Demand Drives Bullish Outing as Average Yield on
NT-Bills Dip to 1.4%, PMA Holds on Wednesday - The bearish sentiment
in the Nigerian Treasury Bills ("NT-Bills") secondary market was
reversed as buying interest - triggered by high financial system liquidity
(N415.1bn at the start of the week) - pressured average yield 46bps downwards
W-o-W across board. Source Afrinvest Research Read More
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More News on Markets
PROSHARE BUSINESS
Nigerian-British
Chamber of Commerce Project Hope Launch - Nigerian-British
Chamber of Commerce (NBCC) will on Wednesday, October 14, 2020 officially
launch its fundraising efforts to complete the NBCC Plaza located in Lekki
Phase 1, Lagos. Source NBCC Read More
CBN Extends AGSMEIS Loans
to 14,638 Applicants - The Central Bank of
Nigeria has said it is extending its Agri-Business/Small and Medium Enterprise
Investment Scheme loans to 14,638 applicants in August. Source Punch Read
More
Consumers
Paid N76.5bn Extra for Petrol After Deregulation - Investigation - More than N76.5bn has been paid for the purchase of petrol by consumers
since the downstream oil sector was deregulated in March this year, Okechukwu
Nnodim reports. After the Federal Government deregulated the downstream sector
of the oil industry on March 19, consumers of Premium Motor Spirit, popularly
called petrol, have paid an additional sum of over N76.5bn for the purchase of
the commodity. Source Punch Read
More
Apapa
Gridlock: Maritime Workers Issue 21-Day Ultimatum, Threaten Strike - The Maritime Workers Union of Nigeria has identified four shipping
companies responsible for the gridlock caused by heavy duty trucks on
Oshodi-Apapa Expressway. The organisation said the action of the companies had
severally led to negative economic consequences at the Tin-Can and Apapa Ports.
Source Punch Read
More
Nigerian
Insurance Industry's Asset Rises to N1.8tn - The
Nigerian insurance industry's assets rose from N1.61tn at the end of the 2019
financial year to N1.8tn in June 2020. The Central Bank of Nigeria disclosed
this in a report, titled 'Insurance sector (general and life) consolidated
balance sheet', in June 2020 statistical bulletin obtained by our correspondent
on Sunday. Source Punch Read
More
NNPC,
IDSL Chart Path to Achieving $10 Production Cost by 2021 - The Nigerian National Petroleum Corporation (NNPC) and its subsidiary,
the Integrated Data Services Limited (IDSL) said they are continuing the search
towards attaining a $10 per barrel production cost with the deployment of
several cost-cutting measures. Source THISDAYLIVE Read
More
Apple and Amazon Drive Rally on Wall Street - Wall Street ended sharply higher on Monday, fueled by expectations of a coronavirus relief package and by a rally in Amazon, Apple and other technology stocks ahead quarterly earnings season. Source Reuters Read More
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