Nigeria in 1min: Economic, Business and Financial Headlines – 291018

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Monday October 29, 2018 / 7:00 AM / Proshare News

 

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PROSHARE ECONOMY 

External Reserves in Three-month Continuous Fall, Shed $4.94bn-Nigeria’s foreign exchange reserves have been falling continuously in the past three months, a report from the Central Bank of Nigeria has revealed. Source Punch Read More

Nigeria to Produce 3.4 Billion Cubic Feet of Gas Per Day By 2020-The Federal Government yesterday disclosed that it was working towards delivery of about 3.4 billion standard cubic feet of gas per day to bridge the medium-term supply gap by 2020. Source Thisday Read More 

G20 And African Countries to Meet In Germany; Nigeria Not Included In List Of Countries Invited - The German government has announced that it will hold the first meeting between the Group of 20 (G20) and leaders of African countries on Tuesday, October 30 in Berlin. Source Proshare Read More 

 

NLC Communique On Planned Nationwide Strike From November 06, 2018- The Nigeria Labour Congress the major trade organization in the country on October 23, 2018 held an emergency National Executive Council meeting at the National Secreteriat of the union in Abuja. Source Proshare Read More

Industrial Intervention: FG Raises Hopes in Key Sectors-At the meeting of the Nigeria Industrial Policy and Competitiveness Advisory Council, held recently in the conference room of Vice President Yemi Osinbajo, hopes were again raised on key sectors of the economy. Source Guardian Read More

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PROSHARE MARKETS

Dangote Cement Q3 2018 Results Review: 2018E Earnings To Be Boosted by Tax Credit-Although Dangote Cement’s (DangCem) earnings surprised negatively relative to our estimates, we have made limited revisions to our EPS forecasts over the 2018-20E period. Our new price target of N274.5 represents a cut of just 3%. Source Proshare Read More

 

As Expected, GUINNESS Revenue Drops by -6.05% in Q1 2019 Results-The awaited Guinness Nigeria Plc Q1 2019 results for the period ended 30th Sept, 2018 has now been officially released yesterday. (See Q1 2019 results here - GUINNESS Declares N835.66m PAT in Q1 2019 Results (SP:N80.60k)) Source Proshare Read More

 

Corporate Earnings for the Week Ending 261018 – DANGCEM Declares N158.28bn PAT in Q3 2018 Results-During the week ending October 261018, seventeen (17) quoted firms declared their results. Source Proshare Read More

 

NSEASI Gains On Closing Day Of Week, Inches Up By 1.11%; YTD Returns Now At -13.95%-Equities market closed today on a positive note, as NSEASI appreciated by +1.11% to close at 32,907.33 basis points as against +0.44% appreciation recorded previously. Source Proshare Read More

Market Review and Round-Up of Corporate News Announced During The Week Ending 261018-The equities market recorded mixed performance – the listed equities market recorded +0.20% gain WoW while the NASD OTC went down by -0.22% WoW. Source Proshare Read More

NASD Market CAP Declines by -0.22% WoW to N485.11bn-Nigeria’s oldest Construction Company (operating since 1932), and one of the most prominent within its Industry - Cappa& D’ Alberto Plc, held its sixty-eight Annual General Meeting (AGM) at the Muson Centre, Onikan, Lagos on Tuesday, 16th October, 2018. Source Proshare Read More

Firms get 24 Hours Deadline To Submit Third Quarter Reports - Companies quoted on the Nigerian Stock Exchange (NSE) have up till the close of business tomorrow to submit their financial statements and reports for the third quarter of this business year. Source Nation Read More 

 

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PROSHARE BUSINESS

Airlines Groan As FG Delays VAT Waiver Implementation - Airlines still pay the five per cent Value Added Tax, months after the Federal Government ordered its removal from their flight tickets, MAUREEN IHUA-MADUENYI writes. Source Punch Read More 


Arunma Oteh To Leave World Bank And Join St Antony’s College, Oxford University - World Bank vice president and treasurer Arunma Oteh will leave the bank on December 1, according to market sources, to join St Antony’s College, Oxford University, as an academic scholar in January. Source Proshare Read More 

 

Airtel Africa Raises $1.25 Bn From SoftBank, Five Other Investors - Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, said on Wednesday it raised $1.25 billion from six global investors including SoftBank Group Corp, Warburg Pincus LLC and Temasek Holdings (Private) Ltd. Source Proshare Read More 

 

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PROSHARE REGULATORS 

ABCON Seeks CBN’s Collaboration In Forex Transparency - The Association of Bureaux De Change Operators of Nigeria (ABCON) has called for collaboration with the Central Bank of Nigeria (CBN) in enhancing the operations of its live exchange rate website as part of efforts to improve transparency and stability in the nation’s foreign exchange market.Source Leadership Read More 

 

UK Government Launches First Public-Sector Counter Fraud Profession - The UK government on October 09,2018 cemented its commitment to tackle fraud and error across the public sector by launching its counter fraud profession.    Source Proshare Read More 


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PROSHARE TECHNOLOGY

FINTECH Nigeria Social Meet 3.0 to Hold on November 1, 2018-Fintech Nigeria Association in furtherance of its drive in deepening the collaboration between the technology and financial services space,is set to host the third edition of its “Social Meet” on Thursday November 1st, 2018 in Lagos.  Source Proshare Read More

 

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PROSHARE MSME

#TEFforum2018: AkuffoAddo, Kenyatta Laud Tony Elumelu for Investing in Young African Entrepreneurs - Presidents Nana AkuffoAddo of Ghana and Uhuru Kenyatta of Kenya have both described the investments in African entrepreneurs, by PhilantrophistMr Tony O. Elumelu, CON as apt and the right path for the economic transformation of the region. Source Proshare Read More

 

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