United Capital Grows Earnings, Profit in Q1 2020

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

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

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Dipo Olowookere Profit-taking persisted at the Nigerian Exchange (NGX) Limited on Thursday, with Customs Street going down by 0.31 per cent on its return from a midweek break. The market closed its doors to traders on Wednesday due to the public holiday declared by the federal government to mark Eid-el Maulud, the birthday of Prophet Mohammed. Business Post reports that market participants did not take their minds off the pressing issues affecting the Nigerian economy, especially rising inflation, energy costs and the foreign exchange (FX) crisis. As a result, they liquidated their shares, leading to a negative market breadth

By Modupe Gbadeyanka No fewer than five students got 100 percent score in the March 19, 2017 qualifying examination for this year’s Cowbellpedia Secondary Schools Mathematics TV Quiz Show conducted by the National Examination Council (NECO). Out of the five, two came from Lagos State and were both from the junior category. The two students are Miss Monyei Cynthia, 14 years old, of Good Shepherd Comprehensive Secondary School, Meiran, Lagos; and Master Fuad Alaka, 13 years old, of Federal Government Science and Technical College, Yaba, Lagos. The other students with perfect score in the junior category are Master Adeyanju Oluwafemi,

By Dipo Olowookere The value of Naira to the United States Dollar depreciated this week by 0.28 percent at both the parallel and Bureau De Change (BDC) segments this week to N362/$ and N359/$ respectively. However, the local currency appreciated by 0.02 percent at the Investors & Exporters (I&E) window of the foreign exchange (Forex) market to trade at N361.65/$. At the interbank segment of the market, the Naira remained unchanged at N357.10/$ amid weekly injections of $210 million by the Central Bank of Nigeria (CBN). According to Cowry Asset, the amount was pumped into the market via the Secondary

Cross-border securities transactions across African capital markets have received a significant boost as Nigerian Exchange Limited (NGX) and Pan African Payments Settlement System (PAPSS) signed a Memorandum of Understanding (MOU) to integrate cross-border securities payments system in the capital markets. The MoU, signed in a virtual ceremony on Tuesday, February 28, saw attendance from notable individuals, including the President of Afreximbank, Professor Benedict Oramah; the Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda; and Chairman of NGX, Mr Abubakar Mahmoud, among others. The CEO of NGX, Mr Temi Popoola, while giving his remarks, said that integrating PAPSS

By Dipo Olowookere Gains recorded by counters in the Industrial Goods space rescued the local bourse from finishing on a negative note again on Thursday after a marginal 0.04 percent loss on Wednesday. Business Post reports that every sectors at the stock market ended in the red zone today with the exception of the Industrial Goods industry, which appreciated by 0.76 percent. The Nigerian Stock Exchange (NSE) increased on Thursday by 0.25 percent with the year-to-date returns expanding to 6.88 percent. Specifically, the All-Share Index (ASI) added 101.83 points to close at 40,874.09 points, while the market capitalisation went up

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to move back to the upside following the pullback seen late in the previous session. Early buying interest may be generated in reaction to some upbeat economic data, including a report from the Commerce Department showing a much bigger than expected increase in retail sales in the month of May. Meanwhile, traders are also digesting the European Central Bank?s highly anticipated monetary policy announcement. Following its monetary policy meeting, the ECB announced plans to begin winding down its massive bond-buying program.

By Modupe Gbadeyanka The Economic and Financial Crimes Commission (EFCC) has dissociated itself from activities of Pinnacle Trading & Investment Nigeria Ltd, which claimed to have been appointed by the agency to auction impounded petroleum products aboard MT Good Success and MT Asteris. In a statement issued by its spokesman, the EFCC warned the general public to “refrain from engaging in any activity in relation to the auctioning of any vessel or petroleum product on behalf of the commission.” The EFCC emphasised that it “has not duly authorized anyone to act on its behalf in that regard.” It pointed out

By Modupe Gbadeyanka President Muhammadu Buhari on Monday asked Governors of the 36 states of the federation to work closely with the Presidential Task Force (PTF) he constituted some weeks ago on COVID-19. Mr Buhari made this called when he held a virtual meeting with the governors through the Nigerian Governors’ Forum (NGF) headed by Mr Kayode Fayemi, the Governor of Ekiti State. The President said a cordial relationship between the Governors and the PTF will go a long way to overpower the global health pandemic. According to a statement signed by Mr Femi Adesina, Special Adviser to the President

By Modupe Gbadeyanka The foreign exchange reserves of Nigeria now stand at $25 billion, data from the Central Bank of Nigeria (CBN) has revealed. This is the first time in five months this is happening after the reserves dropped to an 11-year-low of $24.76 billion in earlier 2016. The CBN disclosed that as at Friday, December 16, 2016, the actual amount in the reserves was $25.043 billion. The country’s apex bank said the total foreign exchange inflows increased by 89.14 percent from $1.1 million recorded in July to $2.1 million in August 2016. “This increase was due mainly to receipts of