Nigeria in 1min: Economic, Business and Financial Headlines – 100719

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Wednesday, July 10, 2019 / 07:15 AM / By News Aggregator / Header Image Credit: @AsoRock

 

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PROSHARE ECONOMY

Tax Appeal Tribunal Rules That Excess Dividend Is Liable To Tax At 30% - Section 19 of the Companies Income Tax Act (CITA) imposes tax at 30% on a company where it declares and pays dividends in excess of its total profit. The relevant total profit is the profit of the year from which the dividend was declared and not the profit of the year in which the dividend was paid. Source Pwc Nigeria Read More

Middle East Tension Boosts Oil Prices - OIR 090719 - Oil prices edged up at the start of the week due to the OPEC+ cuts and rising U.S.-Iran tension. Trade and economic concerns continue to keep prices in check, however.  Source Oilprice Read More

Nigeria Attracted $7bn Deals From African Investment Forum — AfDB - Nigeria accounted for $7bn of the $38.7bn inflows that were secured for the African continent at the maiden edition of the African Investment Forum, which held in South Africa in November 2018, the African Development Bank has said. Source Punch Read More

Nigeria’s Population Hits 198m —NPC - National Population Commission, NPC, yesterday, announced that the country’s population has hit an estimated 198 million people. Acting National Chairman of the commission, Yusuf Anka, who disclosed this in Abuja at a media briefing on the 2019 World Population Day, said the commission arrived at the figure through application of appropriate census tools. Source Vanguard Read More 

 

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Airtel Africa Lists on the NSE; Stockbrokers Call for Transparency And Competitive Dividend Payments - Today Stockbrokers and Shareholders witnessed the listing of Nigeria’s third largest telecommunications company (Telco), Airtel Africa Plc, on the mainboard of the Nigeria Stock Exchange (NSE). Source Proshare Read More

Access Bank Rebutes Acquisition Talks With Union Bank of Nigeria - Our attention has been drawn to recent social media report of Access Bank Plc being engaged in talks to acquire Union Bank of Nigeria Plc.The Nigerian Stock Exchange and the general public are hereby advised to discountenance such rumour as same is devoid of truth. Source NSE Read More 

NSEASI Inches Up By 0.10% As Market Sentiment Remains Positive Amid Negative Breadth - Equities market closed today on a positive note, as NSEASI appreciated by 0.10% to close at 29,318.02 points as against 0.06% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.72%. Source Proshare Read More 

NSE Admits Airtel Africa Plc to its Main Board - The Nigerian Stock Exchange (The Exchange or NSE) is pleased to announce the Cross Border Secondary Listing of 3,758,151,504 ordinary shares of Airtel Africa Plc on Tuesday, July 9, 2019. Source NSE Read More

 

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PROSHARE BUSINESS

U.S. To Approve Sales It Deems Safe To Blacklisted Huawei - The U.S. government will issue licenses to companies seeking to sell goods to China’s Huawei where there is no threat to national security, Commerce Secretary Wilbur Ross said on Tuesday, leaving industry observers unsure about which products will pass muster. Source Reuters Read More

U.S., China's Top Trade Officials Make First Contact Since Truce - U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke on the phone with their Chinese counterparts, marking the first high-level contact after their presidents agreed to resume trade talks last month. Source Bloomberg Read More 

 

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PROSHARE MSME

Capital Market Financing for SMEs - Micro, Small and Medium Enterprises (MSMEs) in Nigeria face a financing gap that restricts their economic prosperity. This report examines the prospects of capital markets solutions for MSMEs financing in Nigeria. Source SEC Nigeria Read More

 

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