NSE: Stock Market Shakes Off Downtrend, Gains 0.39%

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

By Adedapo Adesanya Oil prices settled lower on Thursday even after Russia announced a ban on fuel exports, with Brent crude down by 23 cents to $93.30 a barrel while the US West Texas Intermediate crude (WTI) lost 3 cents to sell at $89.63 per barrel. Russia temporarily banned gasoline and diesel exports to all countries outside a circle of four ex-Soviet states with immediate effect to stabilize the domestic fuel market, the government said on Thursday. It said the ban did not apply to fuel supplied under inter-governmental agreements to Moscow-led Eurasian Economic Union members, including Belarus, Kazakhstan, Armenia

By Dipo Olowookere The National Bureau of Statistics (NBS) on Friday announced that the Gross Domestic Product (GDP) of Nigeria grew year-on-year by 2.28 percent in the third quarter of 2019. According to the stats office, when compared with the third quarter of 2018, which recorded a growth of 1.81 percent, the real GDP growth rate increased by 0.47 percent. Relative to the second quarter of 2019, which recorded a growth rate of 2.12 percent, the Q3 2019 figures appreciated by 0.17 percent. On a quarter-on-quarter basis, however, real GDP grew by 9.23 percent, with the Q3 2019 growth representing

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange dropped to the negative zone on Wednesday, December 21, as negative price movements from Niger Delta Exploration and Production (NDEP) Plc, Central Securities Clearing System (CSCS) Plc, and FrieslandCampina Wamco Nigeria Plc dragged the bourse down by 0.71 per cent. The oil and gas investment company closed the session N4.90 lower to N170.10 per share from N175.00 per share, CSCS Plc recorded a N1.03 slump to trade at N12.47 per unit compared with the previous day’s N13.50 per unit, while FrieslandCampina Wamco Nigeria Plc depreciated by 29 Kobo to sell at

By Modupe Gbadeyanka The Naira performed woefully on Tuesday at the parallel segment of the foreign exchange market against the three major foreign currencies; the Dollar, Pound Sterling and Euro. Business Post correspondent reports that the local currency lost N1 against the Dollar at the black market, selling for N391 in contrast to N390 it last traded against the American currency. Similarly, the Naira depreciated by N13 against the Pound Sterling, exchanging at the rate of N498 at the black market yesterday. Also, the Nigerian currency lost about N5 against the Euro to trade at N420 instead of N415 it

By Modupe Gbadeyanka Nigeria would be accessing $125 million World Bank loan to tackle the recent polio outbreak and other health challenges in the country, the Minister of Health, Prof. Isaac Adewole, has disclosed. Prof Adewole told the Senate Committee on Primary Health and Communicable Diseases on Thursday in Abuja that the total amount to be accessed after the approval of the National Assembly would be N60 million. He explained that the money would be earmarked for polio while the remaining fund would be used for other health problems. He said following the outbreak of polio in Borno State recently,

A partnership aimed to empower, enhance and promote healthy living amongst Nigerian women has been entered into between Keystone Bank Limited and Medplus Pharmacy. The deal is to enable a discount ranging from 5 to 10 percent to PINK Network card holders of the Nigeria’s leading health and beauty retailer for the purchase of health and beauty products from the pharmacy. The deal will further see female customers of the healthcare firm with a Keystone Bank PINK debit card get 10 percent discount off all drug purchases and 5 percent discount off non-drug purchases in any Medplus Pharmacy nationwide. Keystone

By Investors Hub The major US index futures are currently pointing to a lower open on Wednesday, with stocks likely to give back ground following the strong upward move seen in the previous session. Traders may cash in on gains by US stocks yesterday ahead of the Federal Reserve’s monetary policy announcement this afternoon. While the Fed is widely expected to raise interest rates by 25 basis points, traders will look to the accompanying statement for clues about the outlook for further rate hikes. After a slightly cautious start, stocks climbed higher on Tuesday thanks to sustained buying across the

By Adedapo Adesanya The exchange rate of the Naira to the United States Dollar further depreciated at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market on Tuesday, February 8, 2022. The scarcity of forex at the market could be responsible for the poor performance of the local currency yesterday as it depreciated by 17 kobo or 0.04 per cent to settle at N416.67/$1 as against N416.50/$1 it ended on Monday. According to data obtained from FMDQ Securities Exchange, the value of FX transactions on Tuesday stood at $74.56 million compared with the $125.1 million achieved a

By Dipo Olowookere A $100m factory owned by Hayat Kimya Nigeria Limited in the Agbara axis of Ogun State has been commissioned by the state Governor, Mr Ibikunle Amosun. The Turkish factory has the capacity to generate over 3,000 direct and indirect employments. Hayat Holding, the parent company of Hayat Kimya Nigeria Limited, is a leading Turkish enterprise with a highly successful track record, comprising 40 companies that operate in various industries including FMCG, port operations, construction, wood and energy. Speaking at the commissioning of the firm, Mr Amosun called on corporate organizations in the state to collaborate with the