Nigeria in 1min: Economic, Business and Financial Headlines - 181119

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Monday, November 18, 2019 / 06:40 AM / By News Aggregator / Header Image Credit: Proshare WebTV

 

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PROSHARE ECONOMY 

Five (5) Steps To Subscribing To Saudi Aramco Initial Public Offer; Sets A Valuation of $1.7trn - Saudi Aramco has released five (5) Steps/Offer Subscription Process to its Initial Public Offering (IPO). Below are the steps to guide you on the account in order to purchase the shares. Source Proshare Read More 

Oil Markets Ignore Worrying OPEC Projections - It was a big week for oil market data and projections this week, with both OPEC and the IEA releasing some key reports for the industry. Despite this influx of new data, oil is set to close out the week little changed from a week earlier. Source Oilprice Read More 

Why Isn't Winter Pushing LNG Prices Higher? - Spot LNG prices in Asia-Pacific are hovering around the $6/MMBtu level at a time when seasonal winter demand usually pushes them higher. The reason is not hard to see - excess liquefaction capacity coming on-stream in the US, compounding the build-up of capacity in recent years in Australia, as well as additions in Russia and elsewhere. Source Oilprice Read More 

Nigeria's Infrastructure Gap; Too Little Too Late? - Recently, the Minister of Finance and Budget & National Planning, Mrs Zainab Ahmed disclosed that the sum of N650bn has been released for capital projects in 2019, adding that the finance ministry plans to release up to N900bn for capital projects by the end of 2019. Source CSL Research Read More 

Limestone Total Global Output Put At 420m Tonnes - The domestic price of most building materials have been sticky in spite of rising inflation. This is in spite of the fact that the global price of Limestone, a major input into cement and aggregate manufacturing has increased in the last one year. Source FDC Read More 

Blackout Looms as Gencos Threaten Shutdown over N600bn Fund - Blackout is looming across the country as the electricity generation companies (Gencos) yesterday threatened to shut down power supply should the federal government refuse to disburse the N600billion intervention fund. Source Thisday Read More 

FG Releases Circular on Minimum Wage Consequential Adjustment - The federal government has finally released the circular on the implementation of the N30,000 new minimum wage to federal workers, setting the stage for the labour unions in the states to commence the negotiations on consequential adjustment to the new wage, THISDAY's investigation has revealed. Source Thisday Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week- 181119 - Beyond the inadvertent consumer price pressure, the impact of the prolonged land border closure by the Nigerian government is now negatively affecting the country's exports, especially to neighboring West African countries. Source Proshare Read More 

Retail SMIS Forex Intervention: CBN Injects $341.75m, CNY14.7m - The Central Bank of Nigeria (CBN), has intervened in the Retail Secondary Market Intervention Sales (SMIS), to the tune of $341.75 million in addition to CNY14.7 million in the spot and short-tenored forwards segment of the inter-bank foreign market. Source CBN Read More 

FMDQ Exchange Lists The Primero BRT Securitisation SPV Bond - FMDQ Securities Exchange PLC, the choice platform for the registration, listing, quotation, trading and recording of financial securities, is pleased to announce the admission for listing on its platform, the Primero BRT Securitisation SPV PLC N16,500,000,000 Series 1 Fixed Rate Bond (the Primero BRT Bond). Source FMDQ Read More 

Medview Certificate Withdrawal: Revenue To Be Impaired In 2019 - Recent media reports suggest that there are plans by the Nigerian Civil Aviation Authority (NCAA) to withdraw the Air Operating Certificate (AOC) of Mediview Airlines Plc over the prolonged shutdown of scheduled operations. Source Proshare Read More

Investors Gain N261.50bn WoW As NSEASI Inches Up By 2.04% To Close The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.03% to close at 26,851.68 points as against +1.91% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.57%. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 151119 - The equities market recorded positive performance - the listed equities market recorded +2.04% gain WoW while the NASD OTC recorded +1.77% gain WoW. Source Proshare Read More 

NASD OTC Market CAP Increased By 1.77% WoW To Close At N513.12bn - We are pleased to announce the registration of Morgan Capital Group and FCSL Asset Management Limited unto the NASD Enterprise Portal as Due Diligence Advisers (DDAs). Source NASD Plc Read More 

 

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PROSHARE BUSINESS 

16th NBCC President, Kayode Falowo Pledges to Facilitate Robust UK-Nigeria Trade Relations - The 16th President of the Nigeria-British Chamber of Commerce (NBCC), Mr Kayode Falowo, has pledged to facilitate robust UK-Nigeria trade relations during his tenure. Source Proshare Read More 

Sanwo-Olu in China, Seeks Collaboration for Lagos Development - Barely three months after his trip to Japan with President Muhammadu Buhari for the 7th Tokyo International Conference on African Development, the Lagos State Governor, Mr. Babajide Sanwo-Olu has returned to another Asian country for increased collaboration with Lagos State. Source Thisday Read More 

Asia Shares Hauled Higher As China Trims Key Repo Rate - Asian shares ticked higher on Monday after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that further stimulus was on the way for the world's second-largest economy. Source Reuters Read More 

Emerging Markets Grapple With Low Volatility Amid Rate-Cut Pause - With little more than six weeks to the end of 2019, the signs are that the worst days of the year for emerging markets are in the past. But don't bet on any major rally either. Source Bloomberg Read More 

PoS Transactions Hit N2.5tn in 10 Months - The value of transactions nationwide through Point of Sales (PoS) channels between January and October 2019, stood at a total of N2.528 trillion. This represented an increase of N707 billion or 39 per cent, from the N1.821 trillion recorded in the same period in 2018. Source Thisday Read More

 

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PROSHARE FINANCE 

Standardization and Awareness, Key To the Growth Of Islamic Finance In Nigeria - Banji Fehintola - Mr. Fehintola noted that from a global perspective, Islamic finance still suffers from standardization problems preventing it from issuing conventional Eurobonds. He also noted that the issue of premium must be addressed to deepen the product. Source Proshare Read More

Total Pension Assets Rise To N9.58tn - The total assets under the Contributory Pension Scheme rose to N9.58tn as of the end of September, according to the National Pension Commission. A total of N6.84tn or 71.43 per cent of the funds have been invested by the Pension Fund Administrators in the Federal Government of Nigeria's securities, including FGN bonds, treasury bills, agency bonds, Sukuk bonds and green bonds. Source Punch Read More


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