Nigeria in 1min: Economic, Business and Financial Headlines – 210319

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 Thursday March 21, 2019 / 06:45 AM / By News Aggregator

 

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PROSHARE ECONOMY

Oil Price Rally Hits Resistance – OIR 190319 - In this Midweek Intelligence Report, we will take a quick look at some of the critical figures and data in the energy markets this week. Source Oilprice.com Read More 

Grounded 737 MAX Won't Negatively Affect Airport Credits – Fitch - The grounding of Boeing 737 MAX planes (MAX) by aviation officials worldwide will not have a near-term negative effect on airport ratings, Fitch Ratings says. Source Fitch Ratings Read More 

Nigeria Produced 55.85m Tonnes of Solid Minerals in 2018 - NBS - The States Disaggregated Mining and Quarrying Data for 2018 reflected Nigeria produced 55,850,075.43 tonnes of solid minerals. Ogun State produced the highest tonnes of solid minerals among the 36 States and the FCT. Source NBS Read More

FIRS Refutes Report Of 50% VAT Increase - The Federal Inland Revenue Service (FIRS) on Wednesday refuted report of planned increment of Value Added Tax (VAT) by 50 per cent to meet up payment of the newly proposed minimum wage. Source Vanguard Read More

 

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PROSHARE MARKETS

Diamond Bank Plc – Full Suspension Of Trading In Shares - Dealing Members are hereby notified that following the Court Sanction of the Scheme of Merger (Scheme) between Access Bank Plc and Diamond Bank Plc, trading in the shares of Diamond Bank Plc (Diamond Bank or the Bank) has been placed on full suspension on The Nigerian Stock Exchange (“The Exchange”) with effect from today, 20 March 2019. Source NSE Read More 

SEC’s 2019 Budget Seminar Explores Risks and Opportunities In The Nigerian Capital Market - Hosting the 3rd edition of its Annual Budget Seminar, the Nigerian Securities and Exchange Commission (SEC) highlighted the sundry opportunities available to investors in the Capital Market. Source Proshare Read More 

Market Sentiment Remains Negative as NSEASI Dips By -0.13% - Equities market closed today on a negative note, as NSEASI depreciated by 0.13% to close at 31,040.84basis points as against 0.14% depreciation recorded previously. Source Proshare Read More

Ghana's $3 Billion Bonds Get Bids More Than 6 Times the Offering - Ghana’s $3 billion Eurobond offering on Tuesday attracted bids that were more than six times the amount issued, according to a government official. Source Bloomberg Read More

South Africa's FDI Inflows Reach Five-Year High In 2018 - South Africa’s foreign direct investment more than doubled in 2018 to reach its highest in five years, the central bank said on Wednesday, giving a boost to President Cyril Ramaphosa’s pledge to woo investors to help revive a struggling economy.  Source Reuters Read More

 

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PROSHARE BUSINESS 

Insurance Industry’s Assets Hit N1.26tn - The total assets of the Nigerian insurance industry rose to N1.263tn as of the end of the 2018 financial period. Figures obtained by our correspondent from the regulatory body of the industry, National Insurance Commission, on Wednesday, revealed that the liabilities and equities of the sector stood at N645bn during the period under review. Source Punch Read More

AMCON Seeks Reintroduction Of Failed Bank Act - Worried by the resurgent huge toxic loans in the banking sector, the Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria, Mr Ahmed Kuru, on Wednesday, called on the Nigerian authorities to revisit the Failed Bank Act so that operatives in the banking sector would be made to account for their actions. Source Punch Read More

 

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PROSHARE TECHNOLOGY

What Makes Africa’s Largest E-commerce Platform African? - News of Jumia’s filing to go public on the New York Stock Exchange last week is stirring questions about what defines a startup as African. Source QuartzAfrica Read More

AFEX Shares Insights on How Women in Agriculture Balance for Better Even On the Farm - As in every relevant sphere of life, it is true that women in agriculture are important – wielding the capacity to make great impact when they are helped and empowered to access the same opportunities as men. Source AFEX Nigeria Read More

NCC Sees 70% Broadband Penetration In Five Years - Nigeria’s telecoms industry regulator, the Nigerian Communications Commission (NCC) yesterday said with the achievment of 33 per cent broadband penetration now in the country, it is realistic to increase the penetration to 70 per cent over the next five years. Source TheNation Read More

 

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