USSEC Discusses Ways to Boost Soybean Trade in Africa

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

By Adedapo Adesanya  Oil prices fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium and indicated that the Israel-Hamas tensions may not have much effect on the oil market. Brent crude futures depreciated by 84 cents or 1 per cent at $80.58 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.56 or 2 per cent to close at $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday. Prices notched their first week of gains in over a month ahead of next week’s meeting of

By Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

By Dipo Olowookere The Nigerian Exchange (NGX) Limited posted a 0.25 per cent growth at the close of trading activities on Friday, influenced by persistent bargain-hunting. Business Post reports that the market breadth index was positive yesterday after 33 stocks closed on the gainers’ chart and 21 equities ended on the losers’ table, indicating a strong investor. Secure Electronic Technology was the best-performing stock for the trading session as its value rose by 10.00 per cent to 55 Kobo, followed by MeCure, which gained 9.90 per cent to close at N9.21, Neimeth appreciated by 9.85 per cent to N2.23, Multiverse

By Dipo Olowookere Equities at the local bourse appreciated by N37 billion on Friday on the back of the sterling performance of stocks in the banking sector, especially the big boys. The Nigerian Stock Exchange (NSE) closed 0.28 per cent higher during the trading session, with the year-to-date loss reducing to 4.66 per cent at the close of transactions. Consequently, the All-Share Index (ASI) increased by 70.98 points to 25,591.95 points from 25,520.97 points while the market capitalisation grew by N37 billion N13.351 trillion from N13.314 trillion. Stanbic IBTC Holdings was the highest price riser at the market, gaining N1.50

By Dipo Olowookere The efforts of Promasidor Nigeria Limited, makers of Cowbell milk, Loya Milk, Top tea and other food products, in sponsoring the Cowbell Football Academy (CFA) have been commended by the Nigerian Football Federation (NFF). The CFA is an initiative aimed at developing sports in the country by creating an enabling platform for children and youths to express themselves through sports, academics and extra-curricular activities thereby adding to the nation’s human capital development. Speaking at the grand finale of the 2016 Summer Camp, which took place at the main bowl of the national stadium in Surulere, Lagos recently,

By Modupe Gbadeyanka For Small and Medium-sized Enterprises (SMEs) and corporates looking to raise funds for their day-to-day operations, commercial papers and bonds can be issued instead of obtaining a loan from commercial banks. This is the view of FBNQuest Merchant Bank, the investment banking and asset management group of FBN Holdings Plc. A commercial paper, also known as CP, is a money-market security issued by companies with a maturity of not more than 270 days to get capital from investors to meet short-term debt obligations. On its part, a bond is a note issued by organisations to obtain funds

Nigeria and Spain are to make stronger their bilateral trade relationship in oil and gas for the benefit of the two countries. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Kachalla Baru, disclosed on Thursday in Abuja while receiving the Spanish Ambassador to Nigeria, Mr Alfonso Barnuevo to the NNPC Towers. Baru noted that NNPC as an integrated oil and gas company is currently undergoing transformation which includes increasing the Corporation’s refining capacity. He added that the corporation would work closely with the Spanish National Oil Company, REPSOL, to improve the technical capacities of the refineries.

By Dipo Olowookere Following the launch of MainOne’s Cloud Connect product and successful delivery of the Microsoft ExpressRoute service which connects large enterprises in Nigeria to Microsoft’s Azure Cloud, Microsoft has named the Nigerian tech firm as its provider for Nigeria. MainOne is West Africa’s leading communications Services Company and operator of the premier Tier III Data Centre. With this recognition, MainOne will continue to offer private, high-speed connections for customers to Microsoft Azure thus improving the performance of their enterprise applications and cloud infrastructure services. Speaking on the achievement, Chief Executive Officer of MainOne, Ms Funke Opeke, stated that

By Dipo Olowookere The exchange of the Nigerian Naira to the United States Dollar at the foreign exchange (FX) market further plunged in the black market on Friday afternoon, crashing to N654/$1. Some forex traders at the Olugbede Model Market in the Egbeda area of Lagos State informed Business Post the Dollar is bought from sellers at between N648/$1 and N650/$1, while they sell to those who need the hard currency at N654/$1. “We don’t understand what is happening anymore. The Naira is just losing its value very fast. At the moment, we are even scared to buy the Dollar

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

By Modupe Gbadeyanka The 2021 edition of Art X Lagos received a huge boost with the support of Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings Plc. The Pension Fund Administrator (PFA) sponsored one of the talk sessions themed Beyond Collecting: Building an Ecosystem in line with its commitment to promote and drive Africa’s arts and cultural growth. The session featured a panel that included Hakeem Adedeji, founder, Kobomoje Artist in Residence; Kavita Chellaram, founder, Art House Contemporary Auction House and Kó Gallery; Prince Yemisi Shyllon, founder/CEO, Omooba Yemisi Adedoyin Shyllon Art Foundation, Marwan Zakhem, founder, Gallery 1957