Asian Stocks Fall Broadly as Investors Await Fed Rate Outcome

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By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

By Okechukwu Keshi Ukegbu Development partnerships are very essential in every government. This is because of the fact that government cannot do it alone but will always require collaborations with development partners. Sometimes, government provides enabling environment while the partners provide technical and funding supports for a particular project. Perhaps, Abia State Government may have considered the essential roles development partners play in developing a place when it forged a partnership with Google for Google SME Community Launch. This venture is a platform that provides Google ICT backbone to support small businesses. This will manifest through giving SMEs global visibility

By Modupe Gbadeyanka For the first time in about two months, the Nigerian Stock Exchange (NSE) recorded a week-on-week growth at the close of business last Friday following the gains recorded on Thursday and Friday during the three-day trading week. Investors had taken advantage of the low prices of stocks at the market following huge selloffs in the past weeks. However, as market resumes for another trading week today, analysts differ in their outlook for the equities market. For those at Cowry Asset, they believe the bears will resurface this week as a result of selloffs by foreign portfolio investors.

By Modupe Gbadeyanka Federal Government has reassured medical doctors on its payroll that it is fully committed to ensuring that all workers were captured in the Integrated Personnel and Payment Information System (IPPIS). Speaking in Abuja, the Accountant-General of the Federation, Mr Ahmed Idris, while receiving the members of the National Association of Resident Doctors (NARD) and representatives of the Nigerian Medical Association (NMA) who were at the Treasury House in Abuja to interact with him, explained that although it is government’s plan to ensure that all agencies of government and categories of staff are enrolled in the scheme, but 

By Adedapo Adesanya Manchester City have won the Premier League title for the third season in a row after Arsenal were defeated 1-0 by Nottingham Forest on Saturday evening. This made it the fifth time in the past six seasons that the Blue Side of Manchester have secured the top spot under Pep Guardiola. It is the first trophy of a potential treble, with Manchester United to play in the FA Cup final next month and a Champions League final against Internazionale (Inter Milan) in three weeks’ time. Manchester City have three matches remaining, starting with Chelsea’s visit to the

By Modupe Gbadeyanka The former Governor of Benue State, Mr George Akume, has been sworn in as the new Secretary to the Government of the Federation (SGF). Mr Akume, who moved into the Senate after he left office as Governor from 1999 to 2007, was appointed as SGF by President Bola Tinubu last week. On Wednesday, at the Council Chambers of the Presidential Villa in Abuja, he took the Oath of Allegiance and Oath of Office in the presence of his boss and others. Those present were the Vice President, Mr Kashim Shettima; the Senate President, Mr Ahmed Lawan; the

By Dipo Olowookere The sum of N222 billion was lost by the Nigerian Stock Exchange (NSE) on Monday, no thanks to profit takers, who embarked on sell offs. The local bourse depreciated on the first trading day of the week by 2.02 percent, expanding the year-to-date loss to 23.00 percent after the All-Share Index (ASI) reduced by 425.24 points to 20,669.38 points from 21,094.62 points. In the same vein, the market capitalisation decreased by N222 billion to N10.772 trillion from N10.994 trillion. Business Post reports that the activity level was green yesterday as the volume, value and number of deals

By Investors Hub European stocks were trading mixed on Wednesday as investors continued to fret over Italian politics and the country’s future in the European Union. Overall losses, if any, remained limited as Italian equities rebounded on reports that the major parties in Italy are calling for President Sergio Mattarella to dissolve parliament immediately and conduct fresh elections as early as July. On the data front, the day’s economic reports proved to be a mixed bag. The pan-European Stoxx Europe 600 index was down 0.1 percent at 383.98 in late opening deals after losing 1.4 percent in the previous session.

By Adedapo Adesanya Members of the Economic Community of West African States (ECOWAS) have set a 2023 completion date for the 600 megawatts West African Power Pool (WAPP) project which costs $567.5 million. Nigeria, a member, through the Transmission Company of Nigeria (TCN), said the large electricity market was to allow reliable and affordable electricity supply to citizens within member states. WAPP is a specialised institution of the ECOWAS and it covers 14 of the 15 countries of the regional economic community, including Benin, Côte d’Ivoire, Burkina Faso, Ghana, Gambia, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone