Asian Stocks Recover from Early Losses to Finish Bullish

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.41 per cent in Week 48, with the market capitalisation gaining N4.77 billion to settle at N1.166 trillion from the N1.162 trillion it ended in Week 47, and the NASD Unlisted Security Index (NSI) rising by 3.52 points to 860.81 points from 857.29 points in the previous week. In the five-day trading week, the total volume of stocks traded slumped by 69.1 per cent to 4.22 million units from 13.6 million in the preceding week and equally, the value of shares dropped by 69.6 per cent to N41.4 million

By Investors Hub Most Asian stocks rose on Monday after the better than expected U.S. jobs data generated optimism about growth in the world’s largest economy. Investors also awaited Pyongyang’s response after the U.N. Security Council unanimously approved tough new sanctions Saturday to punish North Korea for its escalating nuclear and missile programs. The Japanese yen weakened against the dollar and oil retained most of Friday’s gains while gold remained under selling pressure to hover near two-week lows. China’s Shanghai Composite Index reversed early losses to close 17.46 points or 0.5 percent higher at 3,279.54. Hong Kong’s Hang Seng Index

By Adedapo Adesanya Three countries; Denmark, Norway and Iceland on Thursday temporarily suspended the use of AstraZeneca’s COVID-19 vaccine over concerns about patients developing post-jab blood clots. Denmark was first to announce its suspension, explaining in a statement issued from its health department that the action was taken “following reports of serious cases of blood clots” among people who had received the vaccine. It stressed the move was precautionary and that “it has not been determined, at the time being, that there is a link between the vaccine and the blood clots.” According to Europe’s Medicine, the European Medicines Agency

By Adedapo Adesanya The Naira depreciated against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market by 0.09 per cent or 38 Kobo on Monday, August 22. Data from the FMDQ Securities Exchange showed that the exchange rate of the Naira to the Dollar stood at N429.43/$1 yesterday compared with last Friday’s value of N429.05/$1. This depreciation occurred amid a significant rise in the demand for forex at the investors’ FX window, with many business owners making efforts to jostle for the few available in the system. The turnover for the session stood at $161.94

Sports betting has become a common pastime in Nigeria, with an estimated 50 million bettors engaging in this thrilling activity. With a surging number of daily participants, it is no shocker that the Nigerian betting industry is one of the fastest growing in Africa. Nonetheless, choosing the right sports to bet on remains tricky for new bettors. If you want to try online sports betting in Nigeria, we’ve made a list of the top 5 sports to consider. Top 5 Sports for Betting in Nigeria As a bettor, you’ll be dazzled by the many sports available to bet on at

By VON Federal Government has announced the lifting of administrative suspension on processing Pioneer Status Incentives (PSI) applications. This followed the conclusion of critical reforms to the incentive regime. According to the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, fresh guidelines for PSI applications have been released as well as a revamped list of pioneer industries and products Speaking in Abuja,  Mr Enelamah said the Federal Executive Council (FEC) at its last meeting approved the lifting of the suspension, a new guideline  and a revamped pioneer list with the addition of 27 key industries and deletion of two

By Modupe Gbadeyanka Erin Energy Corporation has announced the execution of a drilling services contract with Pacific Drilling for use of the Pacific Bora drilling rig. Erin Energy plans to use this rig to drill the Oyo-9 well (Oyo-9) on the Oyo field in the deepwater offshore Nigeria. Under the contract, the Company has the option to drill up to two additional wells. The option to extend the contract, if exercised, would be used to drill two of its offshore Nigeria exploration prospects in the prolific Miocene geological zone. Jean-Michel Malek, Interim Chief Executive Officer commented: “The execution of this

Investors have been encouraged by FBNQuest Asset Management to consider contrarian investing by taking advantage of the FBN Nigeria Eurobond (USD) Fund. Contrarian investing is an investment strategy that involves purchasing and selling in contrast to prevailing sentiments of the time. This means an investor is buying assets when other market participants are selling. Having a contrarian view does not necessarily mean having a negative view of the overall stock market, or believing it is overvalued. A contrarian simply seeks opportunities to buy or sell specific investments when the majority of investors appear to be doing the opposite. Looking back,

By Modupe Gbadeyanka A total of 259 premises made up of 46 pharmacies and 213 Patent Medicine Stores in various areas of Lagos State were on Monday closed down by the Pharmacists Council of Nigeria (PCN). Carrying out the raid today, the Council said the affected stores were sealed for operating without proper registration with the Council, failure to renew premises licence, dispensing ethical products without supervision of a pharmacist amongst others. A similar exercise was carried out last week, where 28 premises were issued compliance directives for offences such as poor sanitary conditions, poor documentation and failure to display