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Thursday, November 19, 2020 / 6:00 AM / By News Aggregator / Header
Image Credit: Instagram; seyi_amakinde
COVID-19 Health Updates
Source: NCDC Read More
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PROSHARE ECONOMY
Oil Markets See Light At The End Of The Tunnel - OIR 171120 - News that a second vaccine was highly effective lifted global markets on Monday, adding optimism to the prospect that the end of the pandemic is within sight sometime next year. Oil prices rose again on Monday but were down in early trading on Tuesday. WTI was trading just above $41 and Brent at about $43.50 per barrel. Source Tom Kool of Oilprice Read More
Headline Inflation Climbed Higher in October, up by 14.23% - The National Bureau of Statistics (NBS) released Consumer Price Index (CPI) data earlier today with headline inflation increasing by 14.23% (year-on-year). This represent a 52bps higher than the rate recorded in September (13.71%) marking the 14 months consecutive increase in inflation level since August 2019. Source PFI Capital Read More
FX Shortages
Stifle Downstream Oil Sector Deregulation - In September 2020, the Minister of State for
Petroleum Resources, Timipre Sylva announced that the government will now take a backseat in
the regulation of the price of petrol, noting that market forces and crude oil
price would continue to determine the cost of the product. Source CSL Research Read More
FG Saves N45bn Monthly Through TSA,
Says Minister - Nigeria on Tuesday signed a Memorandum of
Understanding with The Gambia to avail the foreign nation Nigeria's vast
knowledge, experience and technical expertise on the implementation of the
Treasury Single Account. Source Punch Read
More
Despite COVID-19, FG, States, LGs Shared N2.054tn in
Q3, Says NEITI - The
Federation Account Allocation Committee disbursed a total of N2.05tn to the
three tiers of government and other statutory recipients in the third quarter
of the year, figures released on Tuesday by the Nigeria Extractive Industries
Transparency Initiatives showed. Source Punch Read
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PROSHARE REGULATORS
SEC Proposes Amendment to Its Rule on Renewal of Registration by CMOs - The Securities and Exchange Commission (SEC) has proposed sundry amendments to its rules on Renewal of Registration and quarterly returns forms for unit trust scheme fund managers. Source Proshare Research Read More
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PROSHARE MARKETS
Investors Gain N300.55bn as NSEASI Inches Up by 1.68%, Thanks to Big CAPs - Equities market closed today on a positive note, as NSEASI appreciated by +1.68% to close at 34,818.01 basis points as against -1.53% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +29.71%. Source Proshare Markets Read More
NSE Holds 59th AGM - The members of The
Nigerian Stock Exchange (NSE or The Exchange) voted overwhelmingly today at its
59th Annual General Meeting (AGM) - a meeting which is expected to be its last
as a mutual entity - to support the listing of the Nigerian Exchange Group Plc
(NGXG) on the Nigerian Exchange Limited (NGX) once the demutualization of the
NSE is completed. Source NSE Read More
States Borrow N900bn from Capital Market - The Securities and Exchange Commission (SEC), has
disclosed that state governments in Nigeria have borrowed not less than N900
billion from the capital market since 1978. Source Vanguard Read
More
Wall Street Dives as Shutdown Worries Overshadow
Vaccine Hopes - U.S. stocks closed
steeply lower after a late-session sell-off on Wednesday as investors weighed
surging COVID-19 infections and mounting shutdowns against encouraging vaccine
developments. Source Reuters Read
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PROSHARE BUSINESS
AMCON Takes Over Jimoh Ibrahim's Prime Assets Over
N69.4bn Debt - Following the order of
Honourable Justice R.M. Aikawa of the Federal High Court, Lagos Division, the
Asset Management Corporation of Nigeria (AMCON) has taken possession of twelve
prime assets belonging to Barrister Jimoh Ibrahim, the chief promoter of Global
Fleet Oil & Gas Limited and NICON Investment Limited in Lagos and Abuja
over a staggering indebtedness of nearly N70billion. Source AMCON Read
More
Nigeria's Oil Rigs Fall by 30% as
Exploration Drops - The number of active oil rigs in Nigeria declined by
30 per cent in October, with stakeholders lamenting the reduction in
exploration activities in the nation's oil and gas industry. Data obtained by
our correspondent from the Organisation of Petroleum Exporting Countries showed
that Nigeria's rig count fell to seven in October from 10 in September. Source
Punch Read
More
NACC Hopeful of Improved Ties Between Nigeria, United
States - Although Nigeria's
implementation strategy of the African Growth and Opportunity Act (AGOA) might
have affected the benefits from the scheme, the Nigerian American Chamber of
Commerce (NACC), is hopeful that bilateral and diplomatic ties between the two
countries will improve in the coming years. Source The Guardian Nigeria Read
More
Pfizer-BioNTech Vaccine Deliveries Could Start 'Before
Christmas' - Pfizer Inc PFE.N and
BioNTech 22UAy.DE could secure emergency U.S. and European authorization for
their COVID-19 vaccine next month after final trial results showed it had a 95%
success rate and no serious side effects, the drugmakers said on Wednesday. Source
Reuters Read
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Business
PROSHARE TECHNOLOGY
3.8bn People Using Mobile Internet at The End of 2019 - Connectivity has never been more important, and the world's reliance on the internet has never been greater. The COVID-19 pandemic has underscored the importance of the internet and the critical role of mobile, which is the primary way most people access the internet. Source GSMA Read More
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More News on Technology
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