Nigeria in 1min: Economic, Business and Financial Headlines – 181018

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Thursday October 18, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Monsoon in India and Drought in Brazil Will Continue to Raise Sugar Prices -The policy preference of the CBN is a simple trade-off of lower external reserves for a strong naira. Unfortunately, both of these variables are positively correlated and mutually reinforcing. Source Proshare Read More

 

September 2018, Nigerian Inflation:5 Key Takeaways-The consumer price index, (CPI) latest report in September 2018 increased by 11.28 percent in which 0.05 points higher than the rate recorded in August 2018 (11.23) percent. Source Proshare Read More

 

Average Airfare Paid by Passengers Increased by 0.15% MoM to N32,378.92 – NBS -The Transport fare watch report for September 2018 covers the following categories namely bus journey within the city per drop constant route ; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport. Source Proshare Read More

 

External Reserves Drop By $1bn In 13 Days - The nation’s foreign exchange reserves have dropped to a seven-month low, losing $1.02bn in the 13 days to Monday, latest data from the Central Bank of Nigeria showed on Wednesday. Source Punch Read More

 

NNPC Denies Holding $3.5bn Subsidy Fund - The Nigerian National Petroleum Corporation, NNPC, denied claims that it has in its custody $3.5 billion subsidy fund. Source Vanguard Read More

 

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PROSHARE MARKETS

UBA Q3 2018 Results – PAT at N61.70b As Non-interest Income Grew by 25% YoY (SP:N8.20k)-United Bank for Africa (UBA) released Q3 ‘2018 results this morning. See below the results and initial view. Source Proshare Read More 

Lafarge Africa Q3 2018 Results - Revenue Grows By 4.8% To N234.3bn (SP:N21.00k)-Lafarge Africa Plc released its report this morning, recording a net sales of N234 billion for the nine month period and N72 billion for Q3 ‘2018; an increase of 5% over 2017 (both versus the quarter and the nine months period). Source Proshare Read More 

NSEASI Sheds -0.87% as Market Sentiment Closes Positive-Equities market closed today on a negative note, as NSEASI depreciated by -0.87% to close at 32,437.35 basis points as against +0.95% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.18%. Source Proshare Read More 

Lafarge Africa Plc Q3 2018 Conference Call and Earnings Presentation - The Key Takeaways-Lafarge Africa Plc held its Q3 2018 Investors and Analyst Conference Call Earnings Presentation. Source Proshare Read More 

FG okays $2.9bn Eurobond Issuance to Fund Budget - The Federal Executive Council on Wednesday approved the issuance of $2.9bn and other securities in Eurobond from the international capital market. Source Punch Read More 

Naira Up to N363.92/$ in I&E Window - The Naira, yesterday, appreciated to N363.96 per  dollar in the Investors and Exporters (I&E) window even as the volume of dollars traded rose by 60 percent. Source Vanguard Read More

 PMA Rates Clear Higher Amid Tighter System Liquidity - The bond market remained scantily traded in today’s session with slight sell pressures witnessed on the shorter end of the curve (24s mostly). Yields were consequently higher by c.6bps as buying interests remained largely absent for the third consecutive session. Source Proshare Read More

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PROSHARE BUSINESS

Senate Passes Resolution Mandating CBN To Suspend Bank ATM Charges-The Senate of the Federal republic of Nigeria today passed a resolution calling on the Central Bank of Nigeria (CBN) to suspend the ATM card maintenance charges being deducted from customers. Source Proshare Read More 

2018 WEF Global Competitiveness Report Ranks Nigeria 115 Out Of 140 Countries-The World Economic Forum in its 2018 Global Competitiveness Index, ranked Nigeria 115 out of 140 countries. Source Proshare Read More 

Nigeria To Commence Implementation Of New Tomato Policy Soon - Following the resolve by the Nigerian Customs Service to commence implementation of the New Tomato Production Policy, indications have emerged that Dangote Tomato Processing Plant and three other firms may commence operations soon. Source Guardian Read More 

 

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PROSHARE TECHNOLOGY

Applying Artificial Intelligence in B2B and B2C – What’s the Difference? - We discussed the difficulties large businesses may have in adopting AI in our previous article; despite this, last month we fleshed out the reasons why it’s still more difficult for small businesses to apply AI than the enterprise and how they might catch up to larger businesses in the future. Source Proshare Read More

 

 

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