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Nigeria Bank Divide Widens as Cash Shortage Chokes Small Lenders

Nigeria Bank Divide Widens as Cash Shortage Chokes Small Lenders

  The divide between the haves and the have-nots among Nigerian banks is widening. The country’s biggest lender is so flush with cash it plans to repay $400 million of bonds when they become due in November 2018 rather than raising additional debt, while the next two largest banks sold international bonds for the first […]

Sterling Drops as May Signs Brexit Trigger for Process to Begin

Sterling Drops as May Signs Brexit Trigger for Process to Begin

  Sterling fell in early Asian trading as investors brace for the start of the two-year negotiation for the U.K. to leave the European Union. The pound fell as much as 0.6 percent to 1.2377 per dollar, and was the worst performer among the Group-of-10 which saw muted trading. Some funds left it late in […]

Uganda: Millions Lost As Fire Razes Elegu Market

Uganda: Millions Lost As Fire Razes Elegu Market

Traders at Elegu Trading Centre in Amuru District near the Uganda-South Sudan border are in tears after a devastating fire razed down their business premises, burning properties worth millions of shillings. According to eye witnesses, the fire began at about 3.40am on Tuesday morning from a restaurant before spreading to more than 40 shops, restaurants […]

Federal Reserve Lifts Rates, Sees Faster Pace Of Hikes In Trump’s first year

Federal Reserve Lifts Rates, Sees Faster Pace Of Hikes In Trump’s first year

The U.S. Federal Reserve raised interest rates on Wednesday and signaled a faster pace of increases in 2017 as central bankers adapted to the incoming Trump administration’s promises of tax cuts, spending and deregulation. The increase in the federal funds rate to a range of between 0.50 percent and 0.75 percent was widely expected. But […]

Palm Oil Tipped to Oust Iron Ore as Liberia’s Leading Export

Palm Oil Tipped to Oust Iron Ore as Liberia’s Leading Export

Palm oil is forecast to replace iron ore as Liberia’s leading export and employ more than 100,000 people in an economy that was ravaged by a commodity price slump and the worst-ever Ebola outbreak, according to a government official. After iron ore and rubber counted as Liberia’s leading export commodities for more than five decades, […]

Oil Prices Fall For First Time In Three Days

Oil Prices Fall For First Time In Three Days

Oil prices fell in Asian trade after a strong two-day rally that was fed by easing concerns Britain would leave the European Union after a referendum this week, allowing market participants to focus on supply issues. U.S. crude’s expiring July front-month contract CLN6 was down 41 cents at $48.96 a barrel at 0650 GMT. The […]

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