NSE Weekly Report: Market Capitalisation Falls By 0.93%

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Adedapo Adesanya All is not well with the Naira in the parallel market and the peer-to-peer (P2P) segments of the foreign exchange (FX) market in Nigeria, with its exchange rate against the Dollar nearing N1000. At the black market on Thursday, the Nigerian Naira depreciated against the US Dollar by N25 to sell at N995/$1 compared with the preceding session’s value of N970/$1. It was a similar story with the local currency in the P2P wing of the forex market as it lost N22 against the greenback yesterday to quote at N992/$1, in contrast to Wednesday’s exchange rate of

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 The average price of Premium Motor Spirit (PMS), otherwise known as petrol, surged by 230.8 per cent on a year-to-year basis to N626.70 per litre in August 2023 versus N189.46 per litre in the same period of 2022. This is according to the National Bureau of Statistics (NBS) in its Premium Motor Spirit (Petrol) Price Watch (August 2023), which showed that the average retail price increased on a month-on-month basis by 4.39 per cent from N600.3 per litre in July. The skyrocketing cost of petrol came as President Bola Tinubu, during his inauguration speech on May 29,

By Sodeinde Temidayo David The House of Representatives has mandated its committee on sports to investigate the immediate and remote cause of the failed doping test in order to prevent the future occurrence of such an incident. The House also called for an investigation into the activities of the Federal Ministry of Sports and Youth Development on failed doping tests by Nigerian athletes at the recently concluded Olympic Games in Tokyo, Japan. In competitive sports, doping is the alleged use of banned athletic performance-enhancing drugs by athletic competitors or to illegally improve athletic performance in competitions. Nigeria is set to

By Aduragbemi Omiyale The Central Bank of Nigeria (CBN) has stressed that it has no plan to increase the single value of the Naira notes to N2,000, N5,000 or N10,000, as being speculated in some quarters. The Director of Currency Operations at the CBN, Mr Ahmed Bello-Umar, speaking in an interview with the Voice of America (VOA) Hausa Service on Monday, said, for now, the highest single value of banknotes remains N1,000. There had been rumours that the central bank was planning to introduce higher notes into circulation. These speculations became rife after the bank said it would introduce the

By Dipo Olowookere Nigerian stocks returned to the territory of the bears on Tuesday after depreciating by 0.01 per cent at the close of transactions by 2:30 pm. Renewed profit-taking in Oando, Access Bank, UBA, UAC Nigeria and 11 others weakened the market and caused the All-Share Index (ASI) to decrease by 6.14 points to 42,388.57 points from 42,394.71 points and depleted the market capitalisation by N3 billion to N22.126 trillion from N22.129 trillion. The energy and banking sectors depreciated yesterday by 0.45 per cent 0.43 per cent, while the insurance, consumer goods and industrial goods counters appreciated by 1.17

By Adedapo Adesanya As part of efforts to make business advertising better, Twitter has announced three new products that will further advance its optimisation models, conversion options, and measurement solutions. In a statement, the platform said, “We’re excited to share that the new and improved Twitter Pixel, Conversion API, and App Purchase Optimization are launching globally to all Twitter advertisers. We’ve been hard at work since our last update, and have now hit an important milestone that creates value on top of the measurement and optimization solutions we launched earlier this year.” The new Twitter Pixel is a measurement solution

By Investors Hub Asian stocks ended mixed on Wednesday as news of U.S. tariffs on washing machines and solar panels sparked fears of a global trade war. Chinese shares hit fresh two-year highs on optimism about growth in 2018. The benchmark Shanghai Composite Index climbed 14.23 points or 0.4 percent to end at 3,560.73, while Hong Kong’s Hang Seng Index inched up 27.99 points or 0.1 percent to 32,958.69. Australian shares also closed higher as gains by financials and energy stocks outweighed losses in the mining sector. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index both ended

By Dipo Olowookere Minister of Information and Culture, Mr Lai Mohammed, has hailed the revival of the centuries-old ‘Ijakadi Festival’ by the Offa Kingdom in Kwara State, assuring that the festival will be one of the beneficiaries of the training for festival managers being planned by the Ministry in collaboration with its partners. The Minister gave the assurance in Abuja on Wednesday when he received a delegation of the Offa Descendants Union (ODU), which came to formally invite him to the festival, scheduled for Offa on December 29, 2016, on behalf of the town’s monarch. He said the decision to

By Adedapo Adesanya The Organisation of the Petroleum Exporting Countries (OPEC) in its latest forecast figures for March said the global oil demand will increase by 5.89 million barrels per day in 2021 compared to its estimate last month of 5.79 million barrels per day. The cartel said in its Monthly Oil Market Report (MOMR) that it expects the demand recovery to be much stronger over the second half of 2021 as vaccines are now widely available and administered across the world. In this month’s report, OPEC cut its oil demand estimate for the first quarter by 180,000 barrels per

By Dipo Olowookere The organised labour in Nigeria has called off the proposed industrial action aimed to kick against the recent hike in the prices of petrol and electricity. The Nigeria Labour Congress (NLC), the Trade Union Congress (TUC) and other labour unions had asked their members to embark on indefinite strike action from Monday, September 28, 2020, in protest of the increments by the federal government at the beginning of this month. The government had explained that it increased the price of Premium Motor Spirit (PMS) in line with the deregulation policy aimed to stop payment of subsidy, while