Nigeria in 1min: Economic, Business and Financial Headlines - 141119

Thursday, November 14, 2019 / 06:40 AM / By News Aggregator / Header Image Credit: Proshare

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PROSHARE ECONOMY 

Inflation Rate To Tick Up By 0.08% In October 2019 - In October, the International Monetary Fund (IMF) released its latest revision of the World Economic Outlook amidst a backdrop of rising global trade barriers and a downturn in global manufacturing activity. Source Meristem Research Read More 

The One Factor Driving Today's Oil Markets - Oil continues to seesaw on every rumor (positive or negative) regarding the U.S.-China trade war. As a result, a lot of attention will be paid to President Trump's speech today at the New York Economic Club, where he may provide more clues into what to expect next. Markets are betting on an easing of tariffs. Source Tom Kool of Oil Price Read More 

2020 Outlook: Unpredictable and Disruptive Political Environment Exacerbates Credit Challenges - Our outlook for sovereign creditworthiness in 2020 is negative, reflecting our expectations for the fundamental conditions that will drive sovereign credit over the next 12-18 months. Source Moody's Investors Service Read More 

Differences Between CBN OMO Bills and The Nigerian Treasury Bills - Central Bank of Nigeria on behalf of Debt Management Office on behalf of the Federal Government of Nigeria.. Source CBN Read More 

Competitive Advantage: Repositioning Nigerian Ports - The economic functions of seaports are to provide benefits to the original producers of the exports and the ultimate consumers of the imports which pass through the ports with globalisation, development of logistics and supply chains, the seaports role has been altered to integrate manufacturing and distribution systems into it. Source Festus Okotie Read More  

The EIA Is Grossly Overestimating U.S. Shale - The prevailing wisdom that sees explosive and long-term potential for U.S. shale may rest on some faulty and overly-optimistic assumptions, according to a new report. Source Oilprice Read More 

Bad Roads: FG Releases N650bn For Capital Projects - The Federal Government said on Wednesday that road construction and repairs under the Ministry of Works and Housing were a major beneficiary of N650bn so far released for capital projects in the 2019 budget. It also named the ministries of transportation and power among the biggest beneficiaries of the funds released. Source Punch Read More 

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PROSHARE MARKETS 

SEPLAT Announces Revision To Q3 2019 Interim Dividend Currency Exchange Rates - Seplat Petroleum Development Company Plc​, today announces a revision to its Q3 2019 interim dividend currency exchange rates previously announced on 12th November 2019 to correct an error made on the USD/GBP exchange rate. Source NSE Read More 

Invest in FGN Monthly Bond Auction - November 2019 - The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications for… Source DMO Read More 

Investors Lose N57.09bn as NSEASI Dips By -0.44% Amid Renewed Sell Pressure - Equities market closed today on a negative note, as NSEASI depreciated by -0.44% to close at 26,339.11 points as against +0.54% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.20%. Source Proshare Markets Read More 

Treasury Bills Rates Drop to Three-year Low - The Nigerian Treasury Bills (NTBs) rates have dropped to single-digit at the end of yesterday's primary market auction (PMA). Analysts said the last time NTB rates were at the current position was three years ago. Source Thisday Read More

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PROSHARE BUSINESS

Customs Seek Return Of Import Tax On Petroleum Products - The Nigeria Customs Service is seeking the reintroduction of import tax on petroleum products. The Comptroller-General of Customs, Col Hameed Ali, said this at the 2020 budget defence before the House of Representatives Committee on Customs. Source Punch Read More 

AfDB Group Becomes AFC Shareholder - The Africa Finance Corporation (AFC) yesterday announced that the African Development Bank Group (AfDB) has invested $50 million in the equity of the corporation. Source Thisday Read More 

Grab AfCFTA Opportunity Now, Afreximbank Tells Nigeria, Others - The African Continental Free Trade Area (AfCFTA), described as the catalyst for generating massive increase in intra-African trade, is beckoning on Nigeria, and the rest of the continent's economies to grab. SOurce Guardian Read More

Trump Threat Of More China Tariffs Could Hit Consumer Goods Before Christmas - U.S. President Donald Trump's threat to jack up U.S. tariffs on Chinese goods if the world's two largest economies fail to reach a trade deal could raise the price of cellphones, laptops, and toys less than two weeks before Christmas. Source Reuters Read More 

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PROSHARE TECHNOLOGY   

AFN To Participate In African Islamic Fintech Summit on 29th and 30th, November 2019 In Senegal - The Africa Fintech Network  is pleased to announce that it will take part in "The African Islamic FinTech Summit (SAIFI)" as a Community Partner. Source SAIFI Read More 

58 Patents Registered In Nigeria Last Year - Minister - The minister, who spoke at an event held to mark the World Science Day in Abuja, said Nigeria was making "measurable progress" in the area of innovation with recent improvements in the number of patents recorded in the country. Source Punch Read More

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PROSHARE MSME

NIPOST Assures SMEs of Business Support, Value Creation - The Nigerian Postal Service (NIPOST) has assured Small and Medium Enterprises (SMEs) of its support. This, it stated would be done through its digital platforms. The Postmaster General of the Federation, Bisi Adegbuyi, gave the assurance in Lagos, recently. Source Thisday Read More 

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