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Thursday, January 27, 2022 / 6:00 AM / By News Aggregator / Header
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PROSHARE ECONOMY
The
Last Mile: Reforms Towards Significant Improvement in National Economic
Outcomes - Nigeria is rapidly consolidating its
recovery from the pandemic-induced recession, but the pre-COVID-19 narrative of
poor inclusiveness and macroeconomic instability still persists. Source NESG Read
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Stock Market Crash Temporarily Cools the Oil Rally - OIR 250122 - Following the blistering rise in crude prices over the past weeks, Monday's trading saw a much more balanced picture as the faltering performance of the equity market (world equities are set for their biggest post-pandemic monthly drop since March 2020). Source Tom Kool of Oilprice Read More
Govs,
NLC Doubt Fuel Consumption, NNPC Demands N3tn for Subsidy - The Nigeria Governors' Forum and
the Nigeria Labour Congress on Wednesday took a swipe at the Nigerian National
Petroleum Corporation over what they described as the mismanagement of the fuel
subsidy regime. Source Punch Read
More
Prepare
for Unstable Loan Markets, IMF Tells Nigeria, Others - The International Monetary Fund has
advised Nigeria and other developing economies with large foreign currency
borrowings and external financing need to prepare for turbulence in financial
markets. Source Punch Read
More
Oil
Hits $90 A Barrel for First Time In More Than Seven Years Amid Tensions In Ukraine
And Yemen - Oil hit $90 a
barrel for the first time in more than seven years as mounting tensions in
Europe and the Middle East raised supply concerns. Source This is Money Read
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PROSHARE MARKETS
Investors Gain N318.19bn; NGXASI Closes Above 46,000 Basis Points as Bargain Hunting Improves - Equities market closed on a positive note, as NGXASI appreciated by +1.29% to close at 46,529.99 basis points as against +0.02% appreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +8.93%. Source Proshare Markets Read More
U.S. Futures, Stocks Sink on Hawkish Fed Outlook: Markets
Wrap - U.S. equity futures and Asian stocks slid Thursday as Federal
Reserve Chair Jerome Powell's signal of a March interest-rate liftoff and the
possibility of unexpectedly aggressive tightening whipsawed markets. Source
Bloomberg Read
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PROSHARE BUSINESS
Why
Businesses Should Design Millennial-Friendly Products and Services - Millennials
are believed not to be fantastic money managers, but this opinion is weak. Indeed,
recent studies have found that millennials are better at tracking their
spending and sticking to budgets. Source Josephine Eriyo Read More
Power Tariff Shortfall Hits N2.4tn in Six Years - FG
Report - Power consumers did not pay a total of N2.4tn for the quantum of
electricity they consumed between 2015 and 2020, the Federal Government has
stated in its latest report on Nigeria's Power Sector Recovery Programme and
Policy Interventions. Source Punch Read
More
'AfCFTA Success Dependent on Govt Investment, OPS Participation' - The Federal Government, in collaboration with Pan-African Manufacturers
Association (PAMA), has announced plans to boost intra-Africa trade currently
at 13 per cent, noting that with African Continental Free Trade Agreement
(AfCFTA) in full force, African governments must invest heavily in large-scale
innovations and technology that would drive economic success and trade on the
continent. Source Guardian Nigeria Read
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Petrol Subsidy to Bite Harder as Oil Price Rises to $90 Per
Barrel - Oil prices rose on Wednesday to $90 a barrel for the first time
since October 2014. Over the past months, oil prices have continued to surge as
countries relaxed lockdowns and dropped travel restrictions. Source TheCable Read
More
Kenya Holds Key Interest Rate as Inflation Seen Within
Target - Kenya's central bank left its benchmark interest rate unchanged
for a 12th consecutive meeting, continuing to support the economy as it sees
inflation expectations anchored within its target range. Source Bloomberg Read
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PROSHARE TECHNOLOGY
Apple to Rival Square by Turning iPhones Into Payment
Terminals - Apple Inc. is planning a new service that will let small
businesses accept payments directly on their iPhones without any extra
hardware, according to people with knowledge of the matter. Source Bloomberg Read
More
Crypto Money Laundering Rises 30% in 2021 - Chainalysis - Cybercriminals
laundered $8.6 billion in cryptocurrencies last year, up 30% from 2020,
according to a report from blockchain analysis firm Chainalysis released on
Wednesday. Source Reuters Read
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PROSHARE FINANCE
How Nigeria's
Non-Interest Finance Market Can Grow in 2022 - Despite global economic uncertainties, the
Islamic Finance industry will continue to attract new players in 2022 and
beyond, creating more value and supporting economic stability. Source Bukola
Akinyele-Yisau for WebTV Read More
Senate Approves N215.8bn 2022 Budget for FIRS - Senate has approved the sum of N215.8 billion naira as budget for the Federal Inland Revenue Service (FIRS) for the 2022 fiscal year. The approval followed the consideration of a report by the Committee on Finance during plenary. The chairman of the Committee, Senator Solomon Olamilekan Adeola (Lagos West), in his presentation. Source LeadershipNG Read More
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