Nigeria in 1min: Economic, Business and Financial Headlines – 060619

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Thursday, June 06, 2019 / 06:35 AM / By News Aggregator / Header Image Credit: @NGRPresident

 

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PROSHARE ECONOMY

Oil Is On The Brink Of A Bear Market– OIR 040619 - Prices for coal, natural gas, LNG and crude oil have all dropped significantly in recent weeks. “Fear of global economic growth slowing,” Peter Kiernan, lead energy analyst at the Economist Intelligence Unit (EIU), told Reuters, is “afflicting the entire energy complex with worries that demand growth will be bearish this year.” Source Oilprice Read More

Presidency Meets Power Firms Over Electricity Crisis - As the nation’s power sector remains in crisis mode, the Presidency has met with electricity distribution companies in a bid to resolve some of the issues affecting the electricity supply industry, our correspondent has learnt. Source Punch Read More

W’Bank Cuts Nigeria’s GDP Growth Forecast to 2.1% for 2019 - The World Bank Group has predicted real Gross Domestic Product (GDP) growth rate of 2.1 per cent for Nigeria for 2019, slightly lower than the 2.2 per cent it had predicted for the country same year in a report early this year. But the bank projected a 2.2 per cent growth for the country for 2020 and 2.4 per cent for 2021. Source Thisday Read More

 

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$48b Forex Inflows, $45b Reserves Stabilise Naira - Rising dollar inflows through the Investors’ and Exporters’ (I&E) Forex Window and foreign reserves accretion have stabilised the naira in the official and parallel markets. The I&E Forex Window has attracted $48 billion to the economy in 24 months, the Central Bank of Nigeria (CBN) showed in its updated report on the dollar inflows. Source TheNation Read More

Why Trump Now Wants Talks With Iran - The fact that a few major players in this Atlanticist Valhalla are closely associated with or directly interfering with the Bank for International Settlements (BIS) in Basel – the central bank of central banks – is of course just a minor detail. Source Asia Times Read More

Global Economy Cools Faster Than Expected as Trade Tensions Rise, World Bank Says - The global economy has stumbled sharply in the first half of the year with trade and investment flows between countries falling faster than expected, according to semiannual forecasts released by the World Bank on Tuesday. Source WSJ Read More

 

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Investors Are Looking Past South Africa’s Dismal Economy? - After a shocking reading on the state of the South African economy and with muddled messages from the ruling party on the central bank’s role hastening the rand’s slump, you might think Johannesburg stocks would be in retreat. But that’s not the case. Source Bloomberg Read More

Nigeria’s E-Payment Deals Lose Over N5 Trillion In Q1 - The first quarter (Q1) transactions record of the electronic payment (e-payment) channels across the country, showed a shortfall of N5.13 trillion at N34.02 trillion, against N39.15 trillion recorded in Q4 of 2018. Source Guardian Read More

Afreximbank Signs $140m Credit Line With Eswatini - Afreximbank President, Benedict Oramah,  stated this during a two-day state visit to King Mswati III of the Kingdom in Mbabane. Source The Sun Read More 

 

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PROSHARE TECHNOLOGY      

Innovation Hubs in Nigeria: Challenges and Opportunities for Growth - One of the global centres of technological advancement and development, the United States of America, is reputed to be home to one of the greatest citadels of innovation and transformation “The Silicon Valley” in California. Source Proshare Read More

TechMoney Africa Summit – Where Tech, Money and Innovation Meet - Africa has benefited from unprecedented capital inflows into technology, with Nigeria as the premier destination for tech investment. The ecosystem driving tech investment and innovation sits in Lagos. Source TechMoney Africa Read More

Nigeria Ready For 5G Technology – NCC - This is as the commission said it will soon audit the Mobile Network Operators (MNOs) to determine their level of compliance with the regulation on the registration of Subscriber Identity Module (SIM) cards. Source Dailytrust Read More

China Issues 5G Licenses To Four Local Firms -  China’s tech industry ministry on Thursday granted 5G licenses to China Telecom, China Mobile, China Unicom and China Broadcasting Network Corp, marking a major benchmark in China’s race to deploy and popularize 5G. Source Reuters Read More

 

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