Nigeria in 1min: Economic, Business and Financial Headlines – 290519

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Wednesday, May 29, 2019 /07:00 AM / By News Aggregator / Header Image Credit: @followlasg

 

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Non-oil Exports Provisionally At US$1.26bn in Q1 2019; Rises 15% QoQ and 41% YoY - The latest quarterly Economic Report from the CBN puts non-oil exports provisionally at US$1.26bn in Q1, indicating rises of 15% q/q and 41% y/y. The sectoral breakdown shows that there was a significant increase in receipts from all sub-sectors. Source FBNQuest Read More 

Nigeria Signs Off On Common Reporting Standard With OECD - As we await official communication, information reaching us have it that Nigeria has signed off on the Common Reporting Standard (CRS) with the Organisation for Economic Co-operation and Development (OECD). Source News Read More 

NBS Publishes Additional 11 States Nominal GDP From 2013 to 2017 - GDP of an economy, including at State level, is a measure in monetary terms of production of all goods and services during a period. Like the compilation at the national level. Source Read More 

Senate Approves N69bn Subsidy Payment For 20 Oil Marketers - The Senate on Tuesday approved the payment of N68.9bn as outstanding subsidy claims to 20 petroleum marketers. The breakdown showed that N10.8bn was approved as subsidy claim to Tanzila Petroleum Company, while N58.1bn was okayed for 19 oil marketing companies. Source Punch Read More

2019 Budget: Infrastructure Tops Capital Allocation With N395bn - The Federal Government gave a breakdown of its 2019 budget in Abuja, yesterday, with Ministry of Power, Works and Housing allocated the highest capital vote of N394.91 billion out of an entire capital vote of N2.09 trillion to Ministries, Departments and Agencies, MDAs. Source Vanguard Read More 

 

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PROSHARE MARKETS 

UAC of Nigeria Q1 2019 Results Review: Q1 Shows Early Signs of a Turnaround - UAC of Nigeria’s (UACN) Q1 outperformance was driven by a stronger-than-anticipated recovery in its animal nutrition and edibles businesses (Grand Cereal and Livestock Feeds; c.55% of group sales. Source FBNQuest Read More 

Coronation Research Issues Weekly Update as Equity Market Revives - The equity market came alive last week with five days’ trading of MTN Nigeria (for our view of MTN Nigeria see Coronation Research, MTN Nigeria, Listing on the Nigerian Stock Exchange, 16 May 2019). Source Coronation Research Read More 

Investors Gain N489.91bn As Stock Market Halts Sell Pressure; NSEASI Inches Up By 3.68% - Equities market closed today on a positive note, as NSEASI appreciated by 3.68% to close at 31,307.00 points as against 2.22% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -0.39%. Source Proshare Read More 


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Domestic and Foreign Portfolio Participation in Equity Trading - April 2019 - On a monthly basis, The Nigerian Stock Exchange polls trading figures from market operators on their Foreign Portfolio Investment (FPI)4 flows. As at 30 April 2019, total transactions at the nation’s bourse increased by 35.24% from N110.10 billion. Source NSE Read More

ETI Stocks Soar As Foreign Portfolio Investors Return To Market - Ecobank Transnational Incorporated (ETI) has seen its share price rise 32.2% in four days of aggressive trading activity by traders taking strategic positions in the stock. The banks share price rallied from N9.15 on Wednesday 22, May 2019 to N12.10 per share on Tuesday 28, May 2019. Source Proshare Read More

 

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PROSHARE BUSINESS 

China Ready To Hit Back At U.S. With Rare Earths - China is ready to use rare earths to strike back in a trade war with the United States, Chinese newspapers warned on Wednesday in strongly worded commentaries on a move that would escalate tensions between the world’s two largest economies. Source Reuters Read More 

Ghana's Debt at Highest in Four Years as Revenue Undershoots - Total debt was at $38.9 billion at the end of March, up 16% from a year earlier and the highest since at least March 2015, when the central bank started publishing these numbers in dollars. As a percentage of gross domestic product, debt rose to 58% in the month compared to 50% a year ago. More than half of that is external loans. Source Bloomberg Read More

 

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