Nigeria in 1min: Economic, Business and Financial Headlines – 180618

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Monday, June 18, 2018 / 7:00 AM / Proshare News

 

PROSHARE ECONOMY

What To Expect From The Markets This Week - 180618 - On the 13th of June 2018, the National Bureau of Statistics published the inflation figures for May 2018.  Inflation continued its disinflationary path as food inflation declined further by 1.03% from 14.8% in April to 13.45% in May Source Proshare Read more 

Cocoa Prices Fall 0.78% as Prices Are Expected to Trade Lower Due To Adequate Supply - Oil price fell by 1% after the Fed increased interest rates by 25 basis points and confirmed its intention to raise rates again in 2018. Source Proshare Read more
 
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PROSHARE MARKETS

Market Review and Round-Up of Corporate News Announced During The Week Ending 140618 - The equities market recorded mixed performancethe listed equities market recorded 0.67% gain WoW while the NASD OTC dropped by -0.4% WoW. Source Proshare Read more 

CBN to resume liquidity mop up as N425bn hit interbank - THE Central Bank of Nigeria (CBN) is expected to resume its liquidity mop up operations this week in response to inflow of N424.9 billion into the interbank money market. Source Vanguard Read more 

Barclays Africa joins NSE in July - Barclays Africa plans to join the Nigerian Stock Exchange (NSE) as a broker in July and is exploring opportunities in three other African countries. Source THE NATION Read more 

Lotus Capital to list N1.49b fixed income fund - LOTUS Capital Halal Investments Limited has received regulatory approval to list its N1.49 billion fixed income fund on the memorandum board of the Nigerian Stock Exchange (NSE). Source THE NATION Read more 

Nationwide Load-Shedding Following June 15 Gas Pipeline Rupture - The Transmission Company of Nigeria hereby state that as a result of gas pipeline rupture on the 15th of June, 2018, as well as technical issues at the Shell gas wells on the 16th of June, there has been a sharp drop in generation into the grid by a total of 1,087.6MW Source Proshare Read more 

Grid loses 17,087MW/H, N8bn worth of electricity in 7 days - The nation’s electricity grid lost 17,087 megawatts hours (MWH) in the last seven days, equivalent to N8.2 billion, from 21,859MWH/H total energy generated Source Daily Trust Read more

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PROSHARE BUSINESS

UAE to give Ethiopia $3 billion in aid and investments - The United Arab Emirates pledged a total of $3 billion in aid and investments to Ethiopia on Friday, an Ethiopian official said, a major show of support for the new prime minister, Abiy Ahmed. Source Reuters Read more 

Fitch affirms South African rating but doubtful on Ramaphosa boost - Fitch affirmed South Africa’s sub-investment grade credit rating and kept its stable outlook on Friday, citing signs of improvement in governance standards and prospects of mild cyclical economic recovery. Source Reuters Read more 

Egypt hikes fuel prices in IMF-backed austerity drive - Egypt has raised gasoline prices by up to 50 percent, the oil ministry said on Saturday, under an IMF reform plan calling for austerity measures that have made life tougher for ordinary Egyptians. Source Reuters Read more 

Iran Says Three OPEC Members to Veto Saudi-Proposed Supply Boost - Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. Source Bloomberg Read more 

Oil Slumps Near $64 as OPEC Clash Looms and Trade War Escalates - Oil fell near $64 a barrel as Saudi Arabia and Russia prepared for a clash with allied crude producers over whether to lift output and as China and the U.S. exchanged threats over trade. Source Bloomberg Read more

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PROSHARE TECHNOLOGY

Breaking Down Canada’s National Cyber Security Strategy - Cybersecurity is one of the most important things a person, company and even a country can invest in, and Canada has just outlined how they will protect the country from the threat of digital attacks. Source Proshare Read more 

Google to invest $550 million in Chinese e-commerce giant JD.com - Google will invest $550 million in Chinese e-commerce powerhouse JD.com (JD.O), part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com (AMZN.O). Source Reuters Read more 

Bitcoin Could Break the Internet, Central Bank Overseer Says - The Bank for International Settlements just told the cryptocurrency world it’s not ready for prime time -- and as far as mainstream financial services go, may never be. Source Bloomberg Read more

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