Zulu to Unveil Technology Businesses Incubation Partnership

By Adedapo Adesanya The oil market retreated on Thursday, as traders took profits after prices soared recently while the space worried that high interest rates may weigh on demand. During the trading session, Brent futures fell by $1.17 or 1.2 per cent to settle at $95.38 a barrel and the US West Texas Intermediate crude (WTI) declined by $1.97 or 2.1 per cent to close at $91.71 per barrel. The market had reached a 10-month high as some traders worried high oil prices would stoke inflation, encouraging the US Federal Reserve and other central banks to persist with rate hikes.

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

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 Adedapo Adesanya In a historic move, Nigerian Grammy Award-winning and multi-platinum-selling singer, songwriter, and producer, Damini Burna Boy Ogulu will co-headline the 2023 UEFA Champions League Final Kick-Off Show at the Atatürk Olympic Stadium in Istanbul on Saturday, June 10. The Last Last crooner will be the first African act to perform at the event sponsored by Pepsi since it was started in 2016 and became known as the UEFA Champions League Final Kick-Off Show by Pepsi, which replaced the UEFA Champions League Opening Ceremony. This year’s other co-headliner will be announced soon, a statement said, adding that “the

By Adedapo Adesanya The Federal Government of Nigeria, through the Debt Management Office (DMO), may offer for subscription 40 to 50-year bonds in the near future. Director General of the DMO, Ms Patience Oniha, hinted recently that the Nigerian government may consider issuing the debt instrument longer than the present tenor available at the nation’s debt market. In April 2019, the DMO introduced the 30-year bond tenor and when it was auctioned, it received subscriptions worth 400 percent. Of the N20 billion offered for sale to investors, the debt office got N80.41 billion. Speaking on a Channels TV show in

By Adedapo Adesanya The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over alleged secret reintroduction of fuel subsidy payments by the federal government. In late May, after taking the oath of office, President Bola Tinubu announced the total removal of subsidy on petrol, which saw prices jump to over N600. The removal of fuel subsidy and the resulting increment in the pump of petrol by almost 300 per cent had quadrupled the inflation rate in the country and affected the purchasing power of Nigerians, especially the middle class and low-income earners. It was expected that as

By Dipo Olowookere Former Vice President, Mr Alex Ekwueme, has been confirmed dead at a hospital in London, United Kingdom. A statement issued by his family in Oko, Anambra State disclosed that the second republic VP was said to have died on Sunday night. On October 28, 2017, over two weeks after celebrating his 85th birthday, the elder statesman was rushed a hospital in Enugu after he collapsed at his residence in the Independence Layout area of Enugu. He was in a coma at the time he was admitted at the Intensive Care Unit of Memfys Hospital in Enugu after

By Modupe Gbadeyanka The founder of First City Monument Bank (FCMB), Mr Subomi Balogun, has reportedly died. According to reports, the banker died in London, the United Kingdom, on Friday morning. He started FCMB, a midlevel financial institution in Nigeria, over three decades ago. The deceased, until his death today at 89, was a high-ranking chief in Ijebu Ode, Ogun State and was known as the Olori Omoba of Ijebuland. Details later.

By Dipo Olowookere Gains recorded by stocks in the banking space further strengthened the local market for equities on Friday. The Nigerian Stock Exchange (NSE) closed the last trading session of the week 1.41 percent higher, neutralising the year-to-date loss to 0.01 percent. As earlier stated, the banking index buoyed Friday’s growth with its 4.10 percent rise, while the Oil/Gas followed with 1.68 percent appreciation, with the Industrial index closing 0.49 percent higher. However, the consumer goods sector slumped by 0.14 percent, while the insurance sector declined marginally by 0.01 percent. At the close of business, the market capitalisation increased

There are strong indications that one of the biggest domestic airlines in Nigeria, Aero Contractors, may push some of its employees into the labour market. This is because the company is battling with financial crisis, which is worsening by the day. Due to the problem, Aero Contractors is said to be having discussions with aviation unions on how to cut down on the number of workers in its employ. Last week, the airline reportedly had a meeting with officials of the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), where the issues on ground were tabled before the union.

By Dipo Olowookere One of the top cement makers in Nigeria, Lafarge Africa Plc, has announced the exit of Ms Sylvie Rochier from its board. The Frenchwoman resigned from the company’s board with effect from October 30, 2018 as a non-executive director, a statement from the firm said. She joined the board of Lafarge Africa on July 26, 2012, and was appointed as Vice-Chairman of the Board in April 2018 and has since served in the capacity of a non-executive director till her resignation. In the statement, the board and management of Lafarge Africa expressed their appreciation to Ms Rochier