European Stocks Down as Trade Worries Persist

By Adedapo Adesanya The cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

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By Dipo Olowookere The suspension earlier placed on Coronation Insurance Plc, which prevented shareholders of the company to trade their shares, has now been lifted. This removal of the embargo on the trading in shares of Coronation Insurance was announced by the Nigerian Exchange (NGX) Limited in a circular dated Monday, August 1, 2022. This action comes exactly a month after the suspension was announced to the investing public. The insurance company was among the nine publicly-quoted firms suspended by the stock exchange’s management over the failure of their respective board of directors to submit the companies’ financial statements as

By Dipo Olowookere In order to ensure its clients and investors in the Nigerian capital market enjoy better services and value for their money, the management of Capital Bancorp Plc has come up with five new strategic innovations. The new key initiatives are Upgraded Bancorp E-Trade, Online Account Opening, Bancorp Mobile, Live Chart, and Self Service Desk. At the unveiling ceremony held in Lagos on Tuesday, the investment firm said these five products would be use to retain its existing customers and gain more. Head of Stockbroking at Capital Bancorp, Mrs Ayoola Opeyemi, explained that technology drives the entire global

By Dipo Olowookere Governor of Edo State, Mr Godwin Obaseki, is on the verge of completing a deal worth $200 million for a textile industry to be operated by the anchor tenant at the Benin Enterprise Park (BEP), as part of concerted efforts to industrialise the state. It was gathered that the embattled Governor is in Shandong Province, the third largest province in China by population and GDP, to attract more companies to expand into the BEP. It is important to state that the Shandong Province has become a power house for manufacturing and export. From information confirmed by Mr

By Adedapo Adesanya The Petroleum Products Pricing Regulatory Agency (PPPRA) has assured consumers that the entry of coronavirus in Nigeria will not result into scarcity of petroleum products as there are enough in stock to cover for the next 40 days. The deadly disease, now present in over 50 countries, has affected sales of commodities at the markets, with Nigeria recording its first case on Thursday, February 27 from an Italian national who came into the country from Turkey. In a statement signed by the Executive Secretary of the agency, Mr Abdulkadir Saidu, over the weekend, the PPPRA said despite

Governor Douye Diri of Bayelsa State on Tuesday said his administration intends to spend the sum of N242.3 billion in the 2020 fiscal year. Mr Diyi made this disclosure when he presented the 2020 appropriation bill to the Bayelsa State House of Assembly today. This was his first budget presentation since he assumed office about two months ago after succeeding Mr Seriake Dickson, who governed the state for eight years. Mr Diri, who tagged his maiden budget as Consolidation for Prosperity 2020, informed the state lawmakers that the appropriation bill defines the structure for the economic activities to be undertaken

By Modupe Gbadeyanka Principals of public secondary schools in Oyo State have been charged to be alive to their responsibilities of moulding Nigeria’s future by building improved educational standards in the state. The Commissioner for Education, Science and Technology, Mr Rahman Abiodun Abdu-Raheem, stressed that the heads of secondary schools must ensure proper training of every child that passes through them. Speaking when he hosted the executive council of the All Nigeria Confederation of Principals of Secondary Schools (ANCOPSS) on Thursday, in Ibadan, the Commissioner also advised teachers to place a premium on holistic education to build academic and moral

By Investors Hub European stocks have gained ground on Thursday to hit over four-year highs after China and the United States reportedly agreed to cancel tariffs on each other’s goods for both sides to reach a “phase one” trade deal. The two sides have agreed in the past two weeks to cancel tariffs imposed during their months-long trade war in different phases, the Chinese commerce ministry said. The proportion of tariffs cancelled must be the same, and how many tariffs should be cancelled can be negotiated, Gao Feng, spokesman at the commerce ministry, told reporters. While the German DAX Index

By Adedapo Adesanya Internet security solutions giant, Kaspersky, has revealed that phishing activities were diversified as it intensified during the COVID-19 outbreak lockdown with over two million attacks in the second quarter recorded in Africa. These and other findings were documented in Kaspersky’s new spam and phishing in Q2 2020 report. According to the analysis, a number of new tricks have also been found – from HR dismissal emails to attacks disguised as delivery notifications. As a result of such tendencies, security solutions detected 2,023,501 phishing attacks in South Africa, Kenya, Egypt, Nigeria, Rwanda and Ethiopia. Phishing is one of