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Nigeria in 1min: Economic, Business and Financial Headlines – 150118

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January 15, 2018 7:30 AM / Proshare News 

PROSHARE ECONOMY

What To Expect From The Markets This Week- 150118 - In the Week ahead, the National Bureau of Statistics will make available inflation figures for the month of December 2017. Trend so far, supports an upshot in month on month inflation due to the festivities inherent with the month of December. Source Proshare Read More 

Nigeria Outlook 2018 - The Silver Lining? - Despite rising geopolitical tensions, growth in the global economy was robust in 2017, projected at 3.6% vs. 3.2% in 2016. More interestingly, growth is strengthening in its most synchronized form since the global financial crisis. Source Proshare Read More 

NSR H1 2018 (1) - Growth: Riding on the Swing of Improved Fundamentals - We forecast a further expansion in global GDP with growth in emerging and frontier economies offsetting the slower growth in advanced economies. Source Proshare Read More 

NSR H1 2018 (1) - Growth: Riding on the Swing of Improved Fundamentals - We forecast a further expansion in global GDP with growth in emerging and frontier economies offsetting the slower growth in advanced economies. Source Proshare Read More 

Nigeria saves N15bn annually via E-Unit –Adeosun - The Minister of Finance, Mrs. Kemi Adeosun, says the Federal Government now saves N15 billion annually since it created the Efficiency Unit (E-Unit) on November 25, 2015. Source THE SUN Read More 

Nigeria is AfDB’s largest shareholder with $6bn - Nigeria is  African Development Bank’s (AfDB) largest shareholder with a portfolio of approximately $6 billion and country operations accounting for 13 per cent of the bank’s total portfolio. This position is based on a statement from the bank yesterday. Source Daily Trust Read More 

Osun begins work on 10-year development plan - The Ministry of Economic Planning, Budget and Development, Osun State, will today (Monday) commence a five-day retreat/capacity building workshop to craft a new 10-year State Development Plan (2018-2028). Source Punch Read More 

Nigeria attracted $6.8bn investments in nine months – NBS - The nation attracted $6.85bn worth of investments in the first nine months of 2017; while some state governments took advantage of portfolio investors’ appetite for the Nigerian market, Source Punch Read More 

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PROSHARE MARKETS

NSEASI Dips by -0.33% to Halt Market Uptrend; Records 10.21% Gain WoW - Equities market closed today on a negative note, as NSEASI depreciated by -0.33% to close at 42,898.90 basis points as against +2.93% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +12.17%. Source Proshare Read More 

Delay in release of Q1 FGN Bond calendar fuels jitters  - The bond market traded on a bullish note today, as jitters from non-release of the FGN bond calendar fueled some buys across the curve, with yields declining by about 12bps to 13.28%. Source Proshare Read More 

Retail SMIs get $262.5m CBN boost -In its first Retail Secondary Market Intervention Sales (SMIS) for the year, the Central Bank of Nigeria (CBN) on Friday, January 12, 2018, intervened in the inter-bank Foreign Exchange Market with the total sum of $262,500,000. Source Proshare Read More 

N1.6tn Bonds Listed on FMDQ OTC Exchange in 2017 - Bonds worth about N1.60trillion were listed on the trading floor of the FMDQ OTC Securities Exchange in the financial year ended December 31, 2017, THISDAY can report. Source Thisday Read More 

Oil Marketers Canvass for Total Deregulation of Petroleum Downstream Sub-sector - The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have called for the total deregulation of the downstream sub-sector of the country’s oil and gas industry. Source Thisday Read More 

RMAFC backs new petrol subsidy regime - The Revenue Mobilisation Allocation and Fiscal Commission has backed the reintroduction of subsidy on petroleum products by the Federal Government through the Nigerian National Petroleum Corporation. Source Punch Read More 

Indonesia's Stock Exchange Evacuated After Floor Collapse - Indonesia’s stock exchange evacuated people from the vicinity after a floor collapsed during the midday trading break. Source Bloomberg Read More

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PROSHARE BUSINESS

Aero Contractors C-Check Maintenance Certification, to save FX for Nigeria - One of Nigeria’s foremost indigenous airlines Aero Contractors took a significant step in asserting its leadership in the Aviation Industry, with the attainment of the C-Check Compliance Maintenance Certification for Aircrafts. Source Proshare Read More 

UN appoints Adeosun into Pension Fund’s Investments Committee - The United Nations has appointed Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, into the Investments Committee of the United Nations Joint Staff Pension Fund (UNJSPF). Source THE SUN Read More

 A World Bank economist apologized for unfair country rankings and will redo four years of results - The World Bank’s annual ranking of countries by ease of doing business has been compromised by politicized methodology, the bank’s top economist told the Wall Street Journal (paywall). The primary victim? The country of Chile. Source THE NATION Read More 

Egypt's budget deficit in first half FY 2017-18 down to 4.4 pct - Egypt’s budget deficit for the first half of the 2017-2018 fiscal year starting in July dropped to 4.4 percent from 5 percent last year, a finance ministry statement said on Sunday. Source Reuters Read More 

Kenya cuts local communities' share of oil revenue - Kenya has cut the share of revenue communities receive from local oil discoveries to 20 percent from an earlier offer of 30 percent, a senior government official said on Friday. Source Reuters Read More 

Oil near three-year highs on output cuts despite rising North American rig count - Oil prices held just below December 2014 highs on Monday, supported by ongoing output cuts led by OPEC and Russia despite a rise in U.S. and Canadian drilling activity that points to higher future output in North America. Source Reuters Read More 

IMF Says China Must Fix Shortcomings to Lead Globalization - China should be willing to loosen trade and investment restrictions if it seeks to play a leading role in globalization, International Monetary Fund First Deputy Managing Director David Lipton said. Source Bloomberg Read More 

Oil Seller Turns to the Enemy as Electric Cars Dent Petrol Profits - As the tussle between electric vehicles and the oil industry intensifies, Japan’s biggest refiner is considering a novel approach: Co-opt the enemy’s product. Source Bloomberg Read More 

Marijuana ETFs Look Outside Canada to Ride Global Growth - Two new Canadian exchanged-traded funds aim to give investors exposure to the U.S. and international marijuana markets, sectors that have largely been avoided by other ETFs because of legal uncertainties. Source Bloomberg Read More 

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PROSHARE TECHNOLOGY

Active Voice Subscribers Dropped by 8.73% in Q3 2017 – NBS - Total Active Voice Subscriptions in the third quarter of 2017 decreased by 8.73% compared with the same quarter in last year, from to 153,295,152 in 2016 Q3 to 139,907,213 total active subscriptions in the reviewing quarter. Source Proshare Read More 

9Mobile Sale Hits Rock, As Court Nullifies Appointment Of Interim Board - The planned sale of 9moblie may have ran into troubled waters, as Justice Ibrahim Buba of the Federal High Court in Lagos has nullified the appointment of an interim board for Emerging Markets Telecommunications Service (EMTS), owners of the company. Source Leadership Read More 

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