Nigeria in 1min: Economic, Business and Financial Headlines – 150419

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Wednesday, May 15, 2019 / 06:45 AM / By News Aggregator / Header Image Credit: @AsoRock

 

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PROSHARE ECONOMY 

Fitch Affirms IHS Netherlands HoldCo at 'B plus'; IDR Constrained By Nigerian Country Ceiling - Fitch Ratings has affirmed IHS Netherlands Holdco BV's (IHS Netherlands) Long-Term Issuer Default Rating (IDR) at 'B+'. The Outlook on the IDR is Stable. Source Fitch Ratings Read More 

Q2 2019 Economic Outlook: Four Years With A Long Shopping List - Buhari Two can prove more eventful in terms of reforms than Buhari One if the executive can forge a good working relationship with the National Assembly. Source FBNQuest Read More 

NBS to Publish Q1, 2019 Nigerian GDP Figures on May 20th - The National Bureau of Statistics has announced that it will publish Nigeria’s data for Q1, 2019 Gross Domestic Product. Source Proshare Read More 

Average Prices of PMS, AGO, HHK and Cooking Gas – April 2019 - Average price paid by consumers for premium motor spirit (petrol) decreased by -3.6% year-on-year and increased by 0.4% month-on-month to N145.9 in April 2019 from N145.3 in March 2019. Source NBS Read More 

Oil Jumps On Middle East Tensions - OilPrice Intelligence Report - It’s been a volatile few days for oil, with prices up on Monday because of tension in the Middle East, only to fall on concerns about the trade war. By Tuesday, prices were back up again, with markets paying renewed attention to geopolitical risk. Source Oilprice Read More 

Nigeria’s Oil Output Rises By 5.3% In April, 2019 - Nigeria oil output has risen from 1.7 million barrels per day, mbpd, in March to 1.8 mbpd in April, 2019, indicating an increase a 5.3 percent improvement, month-on-month. Source Vanguard Read More 

 

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PROSHARE MARKETS

Sell Pressure Continues as NSEASI Dips By -0.22% - Equities market closed today on a negative note, as NSEASI depreciated by 0.22% to close at 28,422.76 points as against 1.26% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -9.57%. Source Proshare Read More 

NSE Hosts Retail Investor Coverage Workshop - The Nigerian Stock Exchange (NSE) organized a Retail Investor Coverage Workshop​​​, themed, "Investment Masterclass: Making Your Money work", on Monday, May 13, 2019, the NSE event center in Lagos.  Source NSE Read More 

FG Seeks N100bn In New Bond Auction - The Federal Government is offering fresh N100bn bonds for subscription through an auction scheduled for next week. The Debt Management Office, in a circular on Tuesday, said it was authorised by the Federal Government to receive applications for the N100bn bonds. Source Punch Read More

SEC Considers Return Of Individual Sub-Brokers To Boost Investment - Nigeria’s apex capital market regulator, the Securities and Exchange Commission (SEC), is considering  reintroduction of individual sub-broker as a distinct function and operator in the Nigerian capital market as part of measures to increase capital market awareness at the grassroots. Source TheNation Read More 

 

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PROSHARE BUSINESS  

AMCON N3.8 Trillion Bond Matures 2023 - The Asset Management Corporation of Nigeria (AMCON) Notes worth N3.8 trillion will mature in 2023, a report by the Central Bank of Nigeria (CBN) has shown. According to the CBN’s Annul Activity Report released yesterday, the AMCON Bond was issued in December 2014 at six per cent interest rate  and have remained outstanding at end-December 2018, same as in 2017. Source TheNation Read More

Nigeria’s Domestic Debt Decline Marginally — CBN - The Central Bank of Nigeria, CBN, yesterday disclosed that the country’s outstanding domestic debt declined by N146 billion to N12. 4 trillion as at December 2018, from ?12. 6 trillion in the corresponding period of 2017. Source Vanguard Read More

Startimes Invests$220m In Nigeria - StarTimes Nigeria said it has invested over $220m in Nigeria and will in July introduce solar panels into the Nigerian market. Newly appointed Chief Executive Officer, StarTimes Nigeria, Mr. David Zhang disclosed this in a media parley adding that the company has also employed more Nigerians. Source Vanguard Read More 


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South African Jobless Rate Rises to 27.6%, Near 15-Year High - South Africa’s unemployment rate climbed in the first quarter of 2019 as construction and financial-services firms cut positions.The unemployment rate rose to 27.6% from 27.1% in the three months through December, Statistics South Africa said in report released Tuesday in the capital, Pretoria. The median estimate of six economists surveyed by Bloomberg was 27.4%. Source Bloomberg Read More 

China's Retail Sales Growth Falls To 16-Year Low As Trade War Risks Rise - China on Wednesday reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates. Source Reuters Read More

 

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