Nigeria in 1min: Economic, Business and Financial Headlines – 110119

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 Friday January 11, 2019 / 7:00 AM / Proshare News 

 

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PROSHARE ECONOMY

5 Key Global Developments to Watch in 2019- As the year 2019 unfolds with rising expectations, we highlight five (5) key developments to watch that will likely shape the global political-economy, markets and business space. Source Proshare Read More

Annual Headline Inflation To Increase But Monthly Price Level Down- We are forecasting that headline inflation will increase to 11.37% in December from 11.28% in November. Source FDC Ltd Read More   

 NSR H1 2019 (1) - Global Growth: New Year, Same Rhetoric, Matching Growth- Although the global macroeconomic clime has been hitting patches of turbulence over the past few months, the devastation appears largely one sided. Source ARM Research Read More    

We will drive an Innovative and Productive Nigerian Economy - Prof Kingsley Moghalu - Moghalu reemphasised that the economic plan of his YPP party is anchored on “Build, Innovate and Grow” (B.I.G) which will attract real-time venture capital investments that will transform the economy. Source Proshare Read More         

NSR H1 2019 (2) - MEA Region: A Year of Fragile Growth - Nigeria and South Africa pick up, while our prognosis for MENA region was an improvement in economic growth across both oil exporters and importers on the back of higher oil output and economic reforms.  Source ARM Read More

Fashola Takes over N100bn Sukuk Infrastructure Bond - The Minister of Power, Works and Housing, Mr. Babatunde Fashola, was Thursday in Abuja handed the second tranche of the federal government’s N100 billion sovereign Sukuk bond initiated to fund about 28 key road projects across the country. Source Thisday Read More

Oil Can No Longer Sustain Nigeria - Some statements repeatedly find their way into public discourse. People hardly verify them, and no one questions them. In Nigeria, “70% of Nigeria’s government revenue comes from oil” is one of such statements. Source Stearsng Read More 

Mexico Hedges 2019 Oil At $55 Per Barrel, Spends $1.2 Billion On Options - Mexico completed its 2019 oil hedge, the world’s largest sovereign derivatives trade, at an average of $55 per barrel, placing the equivalent of $1.23 billion in put options, the finance ministry said on Thursday. Source Reuters Read More


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PROSHARE MARKETS

Stock Market Halts Negative Sentiment as NSEASI Inches Up By 0.62%- Equities market closed today on a positive note, as NSEASI depreciated by +0.62% to close at 29,517.73 basis points as against -2.33% depreciation recorded previously. Source TheAnalyst Read More 

ALERT: 31.22% of Total Market Volume Traded on CUSTODIAN Shares Today - At the closing of trading today, a total volume of 120.27mln units of shares of Custodian and Allied Plc valued at N697.61mln was traded. Source Proshare Read More

Funding Rates Remain Elevated as CBN Mops Up OMO Maturities - The Bond market traded on a relatively quiet note, with yields relatively unchanged on the day.  Source Zedcrest Capital Read More 

 

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PROSHARE BUSINESS 

Tax Debt: FIRS Shuts DN Meyer, Morrison, Others - The Federal Inland Revenue Service (FIRS) has sealed the premises of DN Meyer Plc, Morrison Industries Plc and seven other companies in Lagos. Source Temitayo Odunlami of Daily Trust Newspapers Read More     

 

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PROSHARE FINANCE

2019 Outlook for Nigerian Insurance Industry- Proshare WebTV’s ,Bukola Akinyele recently sat to hold a chat with Mr. Ekerete Ola Gam-Ikon a Consultant on insurance matters, to give his perspective on the 2019 Outlook for the Nigerian Insurance Industry. Source Proshare Read More

LIRS Directs Employers To Deduct 10% Tax From Termination Benefits - The Lagos Inland Revenue Service, LIRS has directed employers to deduct Capital Gain Tax (CGT) from employee’s termination of service payments, which is 10 percent of the terminal benefits of employees. Source Vanguard Read More


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