Capital market

Showing: 71 - 80 of 514 Articles
Business Planning Foreign

JPMorgan warns recession unavoidable even if tariffs halted immediately

Washington, April 6, 2025 – JPMorgan Chase has warned that the United States is now barreling toward a recession, and that even an immediate rollback of President Trump’s sweeping new tariffs may not be enough to prevent it. JPMorgan’s chief economist, Bruce Kasman, issued the grave assessment on Thursday, raising the firm’s recession forecast to 60%, up from 40% just days earlier. They further warned that while immediate implementation could invite short-term negotiations, the structural hit to business confidence and global trade patterns would be difficult to undo. The S&P …

Capital market

Transactions dip on NGX as turnover drops N370bn

Lagos, April 5, 2025 – Transactions on the Nigerian Exchange (NGX) dipped this week as investors traded 1.183 billion shares worth N28.868 billion in 42,397deals,   These were lower than the 7.521 billion shares valued at N398.949 billion exchanged in 61,312 deals last week. Consequently, the value of transactions traded by investors on the Exchange dropped by 1282 per cent as investors lost N370 billion. The exchange traded market for three trading days during the week as the Federal Government declared Monday and Tuesday as public holidays for  the Eid …

Business Planning Money market

Public Investment Corporation (PIC) invests $40m in Africa50, becomes 36th shareholder

Casablanca (Morocco), April 3, 2025 – the Public Investment Corporation (PIC) of South Africa has invested $40 million in Africa50 Group, the pan-African infrastructure investor and asset manager to become its 36th shareholder. The PIC is South Africa’s state-owned asset management company with US$141.5 billion of assets under management (AuM). A statement issued by Africa50 group on Thursday, said the PIC’s joining the group as a shareholder was an important milestone which would provide a significant boost to Africa50’s mission of mobilizing African institutional investors to drive infrastructure development across the …

Business Planning ICT

UNCTAD advises developing countries to invest in AI to harness its future potential

   …. anticipates AI market value to reach $4.8tn by 2033 Lagos, April 3, 2025 – The United Nations Trade and Development (UNCTAD) has advised developing countries to invest massively in Artificial Intelligence (AI) to reap from its future potential. It advised developing economies to invest in AI infrastructure, data and skills to harness its full potential. The global body gave the advice in its UN Trade and Development’s (UNCTAD) Technology and Innovation Report 2025 released on April 3, 2025. It said less than one third of developing countries had AI strategies, while …

Capital market

Stock market plunges on Trump’s tariffs. Dow sheds 1,100 points, S&P 500 down 200

New York, April 3, 2025 – U.S. stocks plunged at the open, with the blue-chip Dow losing more than 1,100 points and the broad S&P 500 tumbling nearly 200 points, after President Donald Trump unveiled his tariff plan after the markets closed on Wednesday. Trump announced sweeping tariffs of at least 10% on all countries, effective April 5, and even higher levies for some countries. Some of China’s neighbors and biggest trading partners such as Bangladesh, Vietnam, Laos and Cambodia were slapped with the highest tariffs. Some multinational companies have moved …

Business Planning Money market

World Bank to approve 2 loans of N632m for Nigeria

Abuja, March 31, 2025 – The World Bank is to approve two loans of $632 million to Nigeria for nutritional improvement and quality basic education enhancement. The World Bank posted this information on its ’s website, adding that the two loans were expected to be approved on Monday. It said the two loans included $80 million loan to improve nutrition outcomes in Nigeria and $552 million loan to enhance access to quality education for Nigerian children.  The loans are expected to be part a broader strategy by the institution to …

Capital market

Tinubu assents to Investments and Securities Act 2024

Abuja, March 29, 2025 – President Bola Tinubu has assented to the Investments and Securities Act (ISA) 2024 which repeals the Investments and Securities Act No. 29 of 2007. This was announced by the Securities and Exchange Commission (SEC) in a statement at the weekend. SEC said the landmark legislation had strengthened the legal framework of the Nigerian capital market, enhanced investor protection, and introduced critical reforms to promote market integrity, transparency, and sustainable growth. The enactment of the ISA 2024 reaffirms the authority of the SEC as the apex …

Business Solutions Investment Manufacturing/Industry

Another blow for Elon Musk after his $44 billion prized possession crashed

Washington, March 29, 2025 – Elon Musk’s X, formally known as Twitter, was hit by another major outage that plagued users nationwide Friday.  The platform, which Musk purchased for $44 billion, went down around 2:30pm ET as users noticed the app and website were not working.  Downdetector, a site that monitors online outages, revealed the outage was largely hitting the eastern half of the US. By 3pm, over 50,000 X users had reported a problem to the outage-monitoring website. Although the problems appeared to start in the east, the biggest trouble zones …

Business Planning General News

UK defends welfare cuts, economists warn 250,000 could fall into poverty

London, March 28, 2025- The UK government is fighting to defend new welfare cuts that independent economists, think tanks and even some of its own backbench MPs warn will force tens of thousands of people into economic hardship. The measures were announced in the House of Commons yesterday by Chancellor Rachel Reeves, who denies that her government is pursuing economic austerity, something it has promised not to do. Reeves made the same point on Thursday, telling Sky News that she is “absolutely certain” that the reforms “will get people into …

Capital market Oil and Gas

NNPCL sets for first stages of listing its shares on capital market

Abuja, March 27, 2025 – The Nigerian National Petroleum Company Limited (NNPCL) is now in the final stages of its listing on the capital market by the provisions of the Petroleum Industry Act 2021. Olufemi Soneye, the NNPCL Chief Spokesman, disclosed this in a statement on Thursday. The statement said Mr Olugbenga Oluwaniyi, the Company’s Chief Finance and Investor Relations Officer, hinted at the development during a consultative meeting with partners at the NNPC headquarters. It said the NNPCLwas currently engaging with prospective partners in an exercise tagged, “NNPC Ltd. …


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