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Nigerian Inflation Rose To 16.5 Percent In June: Statistics Office

Nigerian Inflation Rose To 16.5 Percent In June: Statistics Office

Annual inflation in Nigeria accelerated to 16.5 percent in June, data showed on Monday, its highest in almost a decade and the fifth monthly increase in a row, as the crisis in Africa’s biggest economy deepens. The rise reflected higher prices for electricity, transport and food, a separate index for which rose to 15.3 percent […]

ExxonMobil Declares Force Majeure On Nigeria’s Qua Iboe Crude Oil

ExxonMobil Declares Force Majeure On Nigeria’s Qua Iboe Crude Oil

ExxonMobil subsidiary Mobil Producing Nigeria has declared force majeure on exports of Nigeria’s Qua Iboe crude oil, the country’s largest export stream, a spokesman said on Friday. The declaration came after the company observed a “system anomaly” during a routine check of its loading facility on July 14. “We are working to ensure loading activities […]

Global Stocks At Eight-Month High, France Attack Subdues Europe

Global Stocks At Eight-Month High, France Attack Subdues Europe

Reassuring Chinese data lifted world stocks to an eight-month high on Friday though Europe ended an otherwise strong week subdued after an attack by a gunman at the wheel of a truck in the south of France killed at least 84 people. Britain’s FTSE 100 and Germany’s DAX managed to shake off an early dip […]

Less Aid Money, Less Influence: Brexit’s Likely Hit To The UK’s Development Role

Less Aid Money, Less Influence: Brexit’s Likely Hit To The UK’s Development Role

Despite the many imponderables transfixing domestic politics, it already seems clear that Brexit will have a mainly detrimental effect on Britain’s international role, certainly in the short term. The UK is likely to have less aid money and less influence, while the success of the leave campaign could also signal a more inward-looking agenda. The […]

More Property Funds Suspended As Brexit Tremors Continue In The City

More Property Funds Suspended As Brexit Tremors Continue In The City

Britain’s vote to leave the EU has sent further shock waves through financial markets, with three more property funds suspended, the pound plunging and share prices falling amid fresh uncertainty about the economic impact of the decision to leave the EU. Funds responsible for investing some £14bn in shopping centres, office blocks and warehouses have […]

Brexit: Pound Plunges To 30-year Lows As EU Fears Bite Into Global Markets Again

Brexit: Pound Plunges To 30-year Lows As EU Fears Bite Into Global Markets Again

The pound sank to three-decade lows and Asian share markets fell on Wednesday as fears over Brexit and instability in the European Union returned with a vengeance. Sterling was again a major casualty, sinking under $1.30 in fast-moving trade. It hit its lowest since 1985 when it got down as deep as $1.2565. In wild […]

Will Baru’s Appointment As NNPC Gmd Resolve the N’delta Crisis?

Will Baru’s Appointment As NNPC Gmd Resolve the N’delta Crisis?

After months of pressure mounted by northern interests led by Dr. Maikanti Kacalla Baru, a former Group Executive Director, Exploration and Production of the Nigerian National Petroleum Corporation (NNPC) to be made the Group Managing Director (GMD) of the state-run oil firm, President Muhammadu Buhari finally succumbed monday when he removed Dr. Emmanuel Ibe Kachikwu […]

Cramer: Don’t buy! Why The Mass Brexit Sell-Off Is Worth Riding Out

Cramer: Don’t buy! Why The Mass Brexit Sell-Off Is Worth Riding Out

There just aren’t enough sectors in the S&P 500 for Jim Cramer to recommend buying stocks on the Brexit decline. The reality is, though, that stocks are only back to where they were a little more than a month ago. “That is not much of a discount when you consider that the S&P 500 was […]

Major Singapore Bank To Suspend Lending For London Properties Over EU Leave Vote

Major Singapore Bank To Suspend Lending For London Properties Over EU Leave Vote

Singapore’s third-biggest lender has suspended new loans for the purchase of London properties as the aftershocks of Britain’s vote to leave the EU are felt around the world. United Overseas Bank said it would “temporarily stop” issuing the loans because of heightened uncertainty following the Brexit decision. “As the aftermath of the UK referendum is […]

South Africans Are Queuing Up For Famous Brands. But Can They Afford To?

South Africans Are Queuing Up For Famous Brands. But Can They Afford To?

A QUEUE snaked through the first Starbucks shop south of the Sahara, winding out of the door and down the block. It greeted the American coffee chain’s boss, Howard Schultz, when he visited the Johannesburg store for the first time recently. “I have been to many, many Starbucks openings around the world,” Howard Schultz marvelled. […]