Nigeria in 1min: Economic, Business and Financial Headlines – 221118

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Thursday November 22, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY

Oil Companies Lose $1 Trillion As Prices Crash – OIR - Today, we will take a quick look at some of the critical figures and data in the energy markets this week. Source Proshare Read More 

Headline Inflation Moderates To 11.26% (YoY) in October 2018; 2bps Lower Than September 2018 - The consumer price index, (CPI) which measures inflation decreased by 11.26 percent (year-on-year) in October 2018. This is 0.02 percent points lower than the rate recorded in September 2018 (11.28 percent). Source Proshare Read More

Coffee Consumption in Nigeria Rose By More Than 20% Between 2010 and 2015 - Coffee consumption in Nigeria rose by more than 20% between 2010 and 2015 and is expected to increase further. Source Proshare Read More

Subsidy Debts: Marketers, DMO, Others To Meet Senate Committee - The Debt Management Office, Ministry of Finance, Petroleum Products Pricing Regulatory Agency, Central Bank of Nigeria as well as oil marketers are to meet with the Senate Committee on Petroleum (Downstream) on Thursday (today) regarding the payment of subsidy debts. Source Punch Read More 

Labour Raises Alarm Over BPE Illegal Extension Of Discos’ Operating License - Organised Labour yesterday raised alarm over alleged illegal extension of the operating licenses of the Electricity Distribution Companies, DISCOs, by the Bureau of Public Enterprises, BPE, in contravention of Power Privatization Act. Source Vanguard Read More

Africa Tipped As World’s Next Big Growth Market - There is a trillion-dollar opportunity to industrialise Africa, to meet rising domestic demand and create a bridge-head in global export markets, a new book by McKinsey has confirmed. Source TheNation Read More

Minimum Wage: Organised Labour To Demand 2 Years Arrears Payment- The Organised Labour on Wednesday said it would demand for two years arrears payment of the proposed new national minimum wage for Nigerian workers from the federal and state governments. Source Leadership Read More

Texas Is About to Create OPEC's Worst Nightmare - An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel. Source Bloomberg Read More

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PROSHARE REGULATORS 

Effects of G20 Financial Reforms On Infrastructure Finance Come Second Relative To Other Factors - The Financial Stability Board (FSB) published today its final report on the Evaluation of the effects of financial regulatory reforms on infrastructure finance, following public consultation earlier this year. Source Proshare Read More 


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PROSHARE MARKETS

NSEASI Erases Previous Day Gain; Closes Below 32,000bpts- Equities market closed today on a negative note, as NSEASI depreciated by -0.78% to close at 31,969.79 basis points as against +0.51% appreciation recorded previously. Source Proshare Read More

 Nigeria’s Central Bank Intervenes; Funds Forex Supply With $210m-The Central Bank of Nigeria (CBN) has again intervened in the interbank foreign exchange market by injecting the sum of $210million in the sales concluded on Wednesday, November 21, 2018. Source Proshare Read More

 

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PROSHARE TECHNOLOGY

AI in Fintech – Current Applications and Use Cases - In their recent Worldwide Spending on Cognitive and Artificial Intelligence Systems report, IDC estimated that banking investments in cognitive and AI systems in 2018 might total around $4.0 billion. Source Proshare Read More

 

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PROSHARE MSME

AfDB Approves $50m Line of Credit to FidelityBank To Support SMEs and Women-Owned Enterprises-The African Development Bank has approved a US$50 million line of credit to Nigeria’s Fidelity Bank Plc to support small and medium sized, and women-owned enterprises in selected transformative sectors, including close to a hundred SMEs in manufacturing, health and education. Source Proshare Read More

 

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