Drop in FX Demand Strengthens Naira Against Dollar by 0.13%

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

By Adedapo Adesanya Brent crude benchmark dipped below $80 a barrel on Monday, precisely losing 60 cents of 0.7 per cent to trade at $79.98 a barrel as investors await this week’s meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). The group is anticipated to maintain its ceiling on crude oil production by member countries into 2024. This affected the oil market, with the West Texas Intermediate (WTI) crude futures declining yesterday by 68 cents or 0.9 per cent to trade at $74.86 per barrel. Last week, the 23-man OPEC+ postponed its Sunday ministerial meeting

By Dipo Olowookere The positive momentum witnessed at the Nigerian Exchange (NGX) Limited continued on Monday with a 0.17 per cent leap at the close of business. Buying pressure, particularly in a few blue-chip equities, kept the bulls at Customs Street during the trading session, though the consumer goods space succumbed to profit-taking by 0.99 per cent. But hope was kept alive by the gains reported by the other key sectors of the market, with the banking counter growing by 1.71 per cent, and the industrial goods index appreciating by 0.01 per cent, while the insurance and energy sectors remained

By Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

By Dipo Olowookere A provider of imaging technologies and services, Canon Central and North Africa (CCNA), will be hosting a fundraising event on September 28, 2018 in Dubai, United Arab Emirates (UAE), in partnership with Dubai Cares. The Canon Day of Giving fundraising event will be hosted as a fun and entertaining carnival with the goal of raising AED 250,000 to support two educational programmes, one in Africa and a second in the Middle East. Managing Director of Canon Central and North Africa, Mr Roman Troedhandl, stated that, “Access to education in Africa has many challenges, and today sub-Saharan Africa

By Dipo Olowookere South Korean company, Samsung Electronics, has halted the production of the Galaxy Note 7, which has had battery explosion issues lately. Samsung disclosed that it would no longer manufacture the flagship smartphone. This is coming weeks after the company requested for a global recall of the product after there were initial complaints about the phone’s battery overheating and subsequently catching fire. In Nigeria, the Nigerian Civil Aviation Authority (NCAA) banned the use of Samsung Galaxy Note 7 on board aircrafts because of the manufacturing flaw. Business Post has learnt that the Galaxy Note 7 woes have caused

By Queen Nwabueze In public relations, just as you and I can’t deny that PR starts and ends with research, we have agreed that Ad value equivalencies, impression counts, and clicks ALONE don’t measure awareness and other outcomes. Therefore, unless you plan and measure in a way that matters, campaign success may not be in the cards. At least, not in the way to pass the test of a true expert. Let’s make this straight. Are you into the hallowed communications profession in whatever form? Never underestimate the benefits of measuring your Public Relations campaigns. DON’T measure using empty or

Authorities of Saudi Arabia have carried out new amendments to visa fees for pilgrims going to the country. The country’s cabinet of ministers announced on Tuesday that the changes will see all visa fees completely waived off and fully paid for by the Saudi government for all first-time pilgrims coming for either Hajj or Umra. With the new structure, travellers will pay 2,000 Saudi Riyals ($533) for a single-entry visa except first time pilgrims. The government said a six month multiple-entry visa will now cost 3,000 Saudi Riyals, a one year multiple-entry visa will cost SR5000, while a two year

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N954.085 billion from the revenue generated in July 2022 to the Federal Government, States, and Local Government Councils in August 2022. The FAAC allocation for this month was 18.9 per cent higher than the N802.4 billion disbursed to the three tiers of government last month. In a communiqué issued at the end of the FAAC meeting held in Abuja on Wednesday, it was disclosed that the N954.085 billion total distributable revenue comprised distributable statutory revenue of N776.918 billion and distributable Value Added Tax (VAT) revenue of

By Kestér Kenn Klomegâh This article attempts to contribute to the discussions on the evolutionary political confrontations and contradictions between Russia and Ukraine, its impact on and implications for Southern Africa. Historically, both Russia and Ukraine attained their independence after the collapse of the Soviet era in 1991. It has embarked on territorial expansionism, annexing neighbouring former Soviet republics. Its annexation ambitions started with Georgia, then Crimea and now Ukraine. That, however, Russia considered itself a superpower and hopes to lead the emerging new world order. After these several months, Russia’s “special military operation” approved by the Federation Council and

By Adedapo Adesanya The United Arab Emirates (UAE) on Monday, January 7, introduced a multiple-entry visa scheme valid for five years for all nationalities, with the aim of turning the Gulf state into a tourism hub. The announcement was made by Sheikh Mohammed Bin Rashid Al Maktoum, vice-president and prime minister of the UAE and ruler of Dubai, after his first cabinet meeting for the new year. Mr Maktoum said the new policy was part of plans to turn one of the most visited countries into a tourism hub and to establish it as a major global tourist destination. “#UAE

By Dipo Olowookere President Muhammadu Buhari has assured China that Nigeria will keep faith with all agreements entered into with it. Mr Buhari made this pledge on Wednesday while receiving the Foreign Minister of the Peoples Republic of China, Mr Wang Yi, at State House, Abuja. “This administration is very serious about infrastructural development. We want rail, road, power, skill acquisition for our people. We ought to have developed beyond this point, but we neglected infrastructure when we had the resources. Now, we have to collaborate with you, and we will keep our side of the bargain in all agreements