Economy

Moody’s Reaffirms Commitment to Support Financial Empowerment

Published

8 years ago

28/07/2018

By Dipo Olowookere

Moody’s Corporation’s (NYSE:MCO) newly released Corporate Social Responsibility (CSR) Report details the company’s progress in delivering on its goal of empowering people around the world to create a better future for themselves, their communities and the environment.

“Moody’s CSR strategy is focused on finding challenges that we can solve by creating paths to knowledge and opportunity,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “I am proud that Moody’s employees have dedicated their time and expertise to addressing these challenges – from supporting small business owners to nurturing the environment — in ways that have changed the world around us for the better.”

As part of its focus on empowering people with financial knowledge, Moody’s recently announced Reshape TomorrowTM, an initiative to partner with organizations around the world to help small business owners overcome the challenges of growing their enterprise.

“Our CSR strategy builds on Moody’s unique business strengths to make a lasting difference in people’s lives by helping them thrive in the evolving global economy,” said Arlene Isaacs-Lowe, Global Head of CSR at Moody’s. “We look forward to building our Reshape Tomorrow program to empower small business owners – especially women and members of untapped communities – to help them access the expertise and credit they need to grow.”

The report details Moody’s ongoing initiatives to support financial empowerment, as well as in each of its other areas of focus: activating an environmentally sustainable future, helping young people reach their potential, and sharing our passion and purpose with the world.

Activating an environmentally sustainable future

Moody’s Investors Service incorporates environmental, social and governance (ESG) considerations into its credit analysis, with a dedicated team that helps global investors, governments and issuers understand the links between sustainability and credit risk.

In addition, Moody’s Green Bond Assessments (GBAs) provide vital information to investors on the governance of new green bond issuances, including the disclosure of information and how the proceeds are used. As of June 30, 2018, Moody’s had assessed 40 green bonds worth almost $19.5 billion, empowering investors with the information they need to confidently make investments in projects that benefit the environment.

In addition, the Moody’s Foundation supports Trees For Life, which aims to preserve and restore Scotland’s Caledonian Forest. Moody’s established a grove of 3,600 native trees and adds to the grove each time a GBA is published.

Moody’s also maintains a clear focus on its own environmental impact. In 2017, despite a 7% increase in physical footprint, Moody’s Scope 1 and 2 greenhouse gas emissions fell by 9%, the equivalent of keeping 355 cars off the road for a year.

Helping young people reach their potential

Moody’s supports a range of initiatives to help young people reach their potential through mentoring, skills-development programs and internships. Moody’s sponsors a computing and professional skills program with Girls Who Code for high school students in San Francisco and New York, encouraging women to bring their talents to careers in finance, technology and economics.

Sharing our passion and purpose with the world

Moody’s employees play an integral role in driving CSR through volunteer efforts, contributions of pro bono expertise and board service on behalf of nonprofits.

The report details ways in which Moody’s employees demonstrated their commitment to local communities, from helping a South African primary school provide fresh vegetables for its students, to offering data analytics expertise to the Hetrick-Martin Institute, which supports LGBTQ young people in New York and New Jersey.

Economy

Naira Continues Positive Run, Official Market Rate Now N1,357/$1

Published

15 minutes ago

04/06/2026

Adedapo Adesanya

By Adedapo Adesanya

The positive run of the Naira against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) continued on Wednesday, June 3, with the former chalking up N3.79 or 0.28 per cent against the latter, closing at N1,357.26, in contrast to the preceding session’s N1,361.05/$1.

Similarly, the Nigerian currency gained N10.52 against the Pound Sterling in the official market during the session to close at N1,822.67/£1 compared with the previous rate of N1,833.19/£1, and appreciated against the Euro by N9.56 to N1,574.83/€1 from N1,584.39/€1.

Further, at the black market, the Naira improved its value against the greenback at midweek by N5 to trade at N1,375/$1 compared with the N1,380/$1 it was traded a day earlier, and at the GTBank FX counter, it gained N6 to sell for N1,372/$1 versus N1,378/$1.

The boost came as the country’s external reserves continued to gain momentum. A look at the updated data from the Central Bank of Nigeria (CBN) showed that foreign reserves continue to increase with two consecutive inflows in June 2026, settling at $49.876 billion as of Tuesday.

Foreign portfolio investors, exporters and non-bank corporates continue to keep the supply side strong, with the less aggressive FX interventions by the CBN at the official window in recent times helping to ease worries about capital flight.

The apex bank reported that interbank FX turnover declined to $133.731 million across 136 deals, from $169.822 million the previous day.

Meanwhile, the cryptocurrency market remained bearish due to sell-offs triggered by geopolitical uncertainties and the US stock market rally.

Cardano (ADA) dipped by 5.5 per cent to $0.2046, Binance Coin (BNB) slumped by 4.8 per cent to $627.56, Solana (SOL) shrank by 3.9 per cent to $72.99, Ethereum (ETH) depreciated by 2.9 per cent to $1,844.53, and Bitcoin (BTC) slipped by 2.7 per cent to $65,675.87.

Further, Dogecoin (DOGE) depleted by 1.4 per cent to $0.0928, Ripple (XRP) declined by 0.7 per cent to $1.21, and TRON (TRX) lost 0.4 per cent to sell at $0.3336, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) gained 0.01 each to settle at $0.9986 and $0.9997, respectively.

Economy

Customs Street Bleeds 1.44% as Lafarge Africa Leads Losers’ Chart

Published

46 minutes ago

04/06/2026

Dipo Olowookere

By Dipo Olowookere

Nigeria’s stock market further depleted by 1.44 per cent on Wednesday following panic sell-offs by investors, who are cutting down their exposure to local equities.

Business Post observed that profit-taking dominated Customs Street at midweek, with all the key sectors of the Nigerian Exchange (NGX) Limited closing in red.

The insurance space shed 2.76 per cent, the industrial goods index lost 1.55 per cent, the banking counter declined by 1.53 per cent, the consumer goods segment shrank by 0.28 per cent, and the energy sector weakened by 0.05 per cent.

As a result, the All-Share Index (ASI) contracted by 3,554.05 points to 243,132.61 points from 246,686.66 points, and the market capitalisation moderated by N2.279 trillion to N155.940 trillion from N158.219 trillion.

Lafarge Africa led the losers’ chart yesterday after it gave up 9.97 per cent to trade at N307.90, Zichis lost 9.82 per cent to close at N29.20, Learn Africa depreciated by 9.80 per cent to N11.50, John Holt crashed by 9.80 per cent to N13.80, and Consolidated Hallmark dipped by 8.84 per cent to N6.19.

On the flip side, Abbey Mortgage Bank topped the gainers’ log after it grew by 9.93 per cent to N7.75, International Energy Insurance appreciated by 9.89 per cent to N6.00, Tripple G gained 9.80 per cent to sell for N4.37, Universal Insurance expanded by 8.91 per cent to N1.10, and Royal Exchange improved by 7.14 per cent to N1.50.

A total of 17 stocks gained weight yesterday, while 43 stocks lost weight, indicating a negative market breadth index and weak investor sentiment. This has been the mood of the market since the beginning of this week.

Market participants transacted 923.0 million shares worth N42.3 billion in 69,332 deals on Wednesday, in contrast to the 718.8 million shares valued at N29.3 billion traded in 71,683 deals on Tuesday, representing a drop in the number of deals by 3.28 per cent, and a rise in the trading volume and value by 28.41 per cent and 44.37 per cent, respectively.

Sterling Holdings led the activity chart with 264.6 million units valued at N2.1 billion, Access Holdings traded 76.7 million units worth N1.8 billion, Linkage Assurance exchanged 55.1 million units for N99.2 million, VFD Group sold 35.5 million units worth N378.8 million, and Ellah Lakes transacted 33.1 million units valued at N334.3 million.

Economy

Oil Prices Rise 2% as Middle East Hostilities Escalate

Published

1 hour ago

04/06/2026

Adedapo Adesanya

By Adedapo Adesanya

Oil prices ‌rose around 2 per cent on Wednesday as hostilities in the Middle East erupted anew and talks between Iran and the United States showed little progress.

Brent futures grew by $1.81 or 1.89 per cent to $97.81 per barrel, and the US West Texas Intermediate (WTI) crude climbed $2.26 or 2.41 per cent to $96.02 a barrel.

According to reports, Iran launched ballistic missiles toward regional neighbours Kuwait and Bahrain, killing one person and injuring dozens, while the US forces conducted strikes on Iran’s Qeshm Island.

Iranian drones and missiles struck Kuwait International Airport overnight, causing the country to immediately suspend air traffic, activate emergency procedures, and divert flights to alternative airports.

Iran’s Revolutionary Guard said the operation was retaliation for recent US military actions and warned that regional states supporting American operations could face further consequences. Kuwait hosts major US military facilities and serves as a key logistics hub for American operations across the Middle East, but until then had largely avoided becoming a direct target.

Following the overnight attack, the United Arab Emirates (UAE) called for a united Gulf stance.

Meanwhile, President Donald Trump said Iran had agreed not to have a nuclear weapon and that Supreme Leader ‌Ayatollah Mojtaba ⁠Khamenei was involved in negotiations. He has insisted this week that discussions remain active and said a broader agreement could emerge within days, while Iranian officials have delivered contradictory messages.

Iranian Foreign Minister Abbas Araqchi said contacts with American representatives have not been cut off, but no progress has been made in the negotiations.

The prolonged closure of the Strait of Hormuz continues to bottleneck global energy supplies, driving sustained upward pressure on oil markets.

The International Energy Agency (IEA) has warned that global oil inventories could hit critical levels ahead of peak summer ⁠demand if stock draws continue at their current pace.

Crude oil inventories in the US decreased by 8.0 million barrels during the week ending May 29, according to data from the Energy Information Administration (EIA) released on Wednesday. The EIA’s data release follows figures by the American Petroleum Institute (API) that were released a day earlier, which reported that crude oil inventories saw a draw of 6.75 million barrels in the period.