Nigeria in 1min: Economic, Business and Financial Headlines – 081018

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Monday October 08, 2018 / 7:00 AM / Proshare News

 

PROSHARE ECONOMY 

Interest Rate Hike in US, Hold in Nigeria: What Next? – FSDH Market Outlook - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) maintained all the policy rates at its meeting in September, in line with the expectations of FSDH Research. Source Proshare Read More 

NBS Publishes 2016 Human Development Indices for UNDP Nigeria Human Development Report - Human development indicators, generally, provide the basis for quantitative assessment of the achievement of countries in all areas of human endeavour. The Human Development Index (HDI) is a summary measure of human progress. It considers the average achievements in three basic dimensions of human development; a long and healthy life, access to knowledge and a decent standard of living. Source Proshare Read More 

Weekly Economic and Financial Commentary – WE 05th Oct, 2018 - US trade deficit widened by 6.4% to $53.2 billion in August, the highest in 6 months, as exports of goods and services dropped by $1.7 billion MoM to $209.4 while imports rose by $1.5 billion MoM to $262.7 billion. On job creation, US unemployment rate fell to a 50-year low of 3.7% in September (August: 3.9%) while wage growth rose at a steady pace of 2.8% (August: 2.9%), suggesting moderate inflation pressures. Source Proshare Read More 

The Oil Price Rally Is Under Threat – OIR 051018 - The IEA put out a new report that highlights the increasingly prominent role that the petrochemical sector is playing in driving global crude oil demand. Petrochemicals will account “for more than a third of the growth in oil demand to 2030, and nearly half to 2050, ahead of trucks, aviation and shipping.” Transportation will start to lose its prominence as an engine of demand growth in the years ahead, with electrification taking hold. Source Proshare Read More

Boosting Farm Productivity in Africa Through the Sustainable Use of Machines - FAO and the African Union today launched a new framework document that aims to increase agricultural efficiency and reduce drudgery by helping countries in Africa to develop strategies for sustainable farm mechanization. Source Proshare Read More

Ivory Coast Raised Its Farmgate Price of Cocoa to $1,340 per tonne for The 2018-19 Season - The Purchasing Managers’ Index (PMI) fell 2% to 53.7 in September, due to weak consumer demand. This was further exacerbated by bureaucratic processes at ports, resulting in delays in delivery time. The decline in the PMI reading suggests that Q3 GDP growth data could be weaker than expected. Source Proshare Read More

Moody''s: Nigerian States'' Own Revenue Generation is a Key Credit Differentiator - Nigeria's federal system gives the country's 36 states some fiscal flexibility and relative independence, creating scope for each one to have a different credit profile, Moody's Investors Service said in a report released yesterday. Source Proshare Read More


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FMDQ Wins CAMCAN Award for the Development and Transformation of the Nigerian Debt Capital Market - FMDQ OTC Securities Exchange (“FMDQ” or “OTC Exchange”) on Saturday, September 29, 2018 won an award “In Special Recognition of FMDQ’s Contribution towards the Development and Transformation of the Nigerian Debt Capital Market” at the CAMCAN Nigerian Capital Market Performance Awards 2018, which held at Civic Centre, Victoria Island, Lagos. Source Proshare Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week - 081018 - According to the recently published Central Bank of Nigeria Statistical Report 2017, the current account sustained its upward trajectory from N687.9 billion at the end of 2016 to N3.174 trillion at the end of 2017.  The outward shift in the current account was due to the increase in oil exports under the period under review from N8.093 trillion to N12.912 trillion, thus reflecting a 60% increase compared to the previous year. Source Proshare Read More       

Funding Rates Spike Following Drain in System Liquidity - The bullish sentiments in the bond market persisted in today’s session, with yields moderating further by c.6bps following some break in support on the 2027 and 2037 bond which traded as low as 14.95% on each. We also witnessed interests on the 2022 bond, whilst there were slight retracements upward on the 2020 bond. Source Proshare Read More 

NASD OTC Exchange Records Outstanding Performance in Q3 2018 - Amidst a flurry of political activities and the much discussed economic malaise within Nigeria, the NASD [OTC] Securities Exchange has experienced an outstanding Q3 performance in the year 2018 compared to previous years. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 051018 - The FX market experienced mixed performance during the week. The IEFX rate appreciated by -0.003% while the CBN, BDC and the NAFEX rates all depreciated by 0.02, 0.14% and 0.06% respectively. Source Proshare Read More 

CISNigeria2018: Market Stakeholders urge FG to constitute SEC Nigeria Board - Market stakeholders in Nigeria have called on the Federal Government to give top consideration to the constitution of the Securities and Exchange Commission of Nigeria board. Source Proshare Read More 

Nigerian Stock Market Extends Losing Streak as NSEASI Sheds -0.12%; Records -1.17% Loss WoW - Equities market closed today on a negative note, as NSEASI depreciated by -0.12% to close at 32,383.15 basis points as against -0.09% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.32%. Source Proshare Read More 

Corporate Earnings for the Week Ending 051018 – INFINITY Declares N261.26mln PAT in Q3 2018 Results - One firm declared growth in revenue. INFINITY records with 19% growth in earnings to emerge as the firm with highest growth in earnings while PZ records 14% drop in earnings. Source Proshare Read More 

 

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PROSHARE BUSINESS

European Business Organisation Launched; Identifies 10 Areas For Private Sector and Govt Collaboration - Being text of a speech delivered by Folashade Ambrose-Medebem, EBO Founding President, on the occasion of the launch of the European Business Organisation (EBO) Nigeria, during the 2018, 7th edition, of the European Union/Nigeria Business Forum (EUNBF), at the Eko Hotel & Towers, Victoria Island, Lagos. Source Proshare Read More 

Assessing The Threat To FDI Impact Of The LADOL-Samsung Feud - Over the years, all the floating production, storage and offloading vessels (FPSOs) operating in Nigeria’s oil and gas industry were built and integrated in foreign yards, denying Nigeria the huge benefits of growing her gross domestic product (GDP) through in-country domiciliation of the huge expenditure, and local capacity development, as well as job creation. Source Proshare Read More 

CBN may cut MTN’s $8.1bn repatriation demand –Emefiele - The Central Bank of Nigeria may reduce the amount it has ordered MTN Nigeria to repatriate, the CBN Governor, Godwin Emefiele, said on Sunday. Source Punch Read More

PwC Restates Commitment To Promoting Quality Business Reporting In Nigeria - Price Waterhouse Coopers a strategic global professional services firm, has restated its commitment to promoting quality media reports in Nigeria. Source Proshare  Read More 


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PROSHARE TECHNOLOGY

Consumer Insights can Reform Digital Banking in Nigeria – Agusto and Co - Digital banking in Nigeria is constantly evolving but one thing we are almost certain of is that it has come to stay, with new technologies introduced by banks regularly.  Looking at consumer behavior towards online transactions, people are more likely to adopt solutions that are simple, convenient and fast, especially because the internet is now an integral part of our lives. Source Proshare Read More 

High Speed 5G Technology Revolution In Africa – Vodacom Picks Lesotho As Testbed -  The mountainous kingdom of Lesotho in southern Africa has become an unexpected test venue for high-speed 5G mobile technology that is set to revolutionise global communication, transport and entertainment. Source Proshare Read More 

Nigerians transfer N216bn via mobile devices in nine months - The value of transactions via mobile devices rose by 56 per cent in the first nine months of this year to N216bn from the 2017 figure of N138bn, as banks, fintechs and telecommunications companies intensify efforts to deepen financial inclusion. Source Punch Read More

 

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PROSHARE FINANCE

Education Is A Country’s Fundamental Priority – The Emirates - The leader of a new nation faces the special challenge of setting the country’s priorities. To be successful, that leader must be both wise and bold. The United Arab Emirates had such a leader. Source Proshare Read More 

 

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