Bloomberg Media Unveils Creative Hub for Africa, Middle East

By Kestér Kenn Klomegâh It all began in March 2023 with an ear-deafening applause during the inter-parliamentary conference under the theme ‘Russia-Africa in a Multipolar World’ that was held in Moscow. Russian President Vladimir Putin offered what was then referred to as ‘no-cost deliveries’ of grains to six African countries. This unique promise was consolidated and renewed during the second Russia-Africa summit held in St. Petersburg. Russian media, with its highest public-oriented reports and propaganda narratives, keeps on informing its public that Russia feeds Africa and its 1.4 population. Under the auspices of the State Duma of the Russian Federal

By Adedapo Adesanya Former prime minister of the United Kingdom, Mr David Cameron, has returned to government as Foreign Secretary amid a fresh cabinet shake-up by Prime Minister, Mr Rishi Sunak, on Monday. Downing Street announced on Monday that Mr Cameron would join the government, accepting a peerage in order to do so, as part of a wider reshuffle in which Ms Suella Braverman was sacked as Home Secretary and replaced by the Foreign Secretary, Mr James Cleverly. Business Post also confirmed that Mr Jeremy Hunt would remain as chancellor. Mr Cameron stood down in 2016 after losing the Brexit

By Bliss Okperan The United Nations (UN) has said it needs about $46.4 billion next year to bring life-saving help to around 180 million people in desperate circumstances around the world. The UN on Monday said the wider Middle East, Sudan and Afghanistan were among the hotspots that also needed major international aid operations. The global humanitarian outlook for 2024 was “bleak”, with conflicts, climate emergencies and collapsing economies “wreaking havoc” on the most vulnerable, adding that the size of the annual appeal and the number of people it aims to reach were scaled back compared to 2023, recorded a

By Adedapo Adesanya The global prices of food remained flat, unchanged from its revised October level, as increases in the price indices for vegetable oils, dairy products, and sugar counterbalanced decreases in those of cereals and meat. This is according to the latest Food and Agricultural Organisation (FAO) Food Price Index (FFPI) released on Friday. The index showed that food prices averaged 120.4 points in November 2023 and stood 14.4 points (10.7 per cent) below the corresponding level one year ago. The FAO Cereal Price Index averaged 121.0 points in November, down 3.7 points (3.0 per cent) from October and

By Adedapo Adesanya A tripartite interconnected mini-grid agreement has been signed by Ikeja Electric Plc, Enaro Energy Limited and the Ayobo community for the provision of reliable and uninterrupted electricity supply to Ishokan Phase 1 Estate, Mercy Land Estate, and Mercy Land Phase1 residents in Ayobo, Lagos State. The initiative is in line with the Nigerian Electricity Regulation Commission’s (NERC) goal of ensuring there is a reliable and steady power supply across communities in the country through partnerships between distribution companies (DisCos) and independent power generators. The agreement, which was signed on Wednesday at Ikeja Electric’s corporate headquarters in Alausa,

By Dipo Olowookere Yields of treasury bills at the secondary market moved in three different directions on Tuesday as investors prepare for today’s primary market auction by the Central Bank of Nigeria (CBN). Business Post reports that while yield on the one-month instrument went up by 0.28 percent to close at 12.45 percent from 12.17 percent, yield on the six-month maturity finished flat at 13.22 percent. However, yield on the three-month tenor went down by 0.40 percent to 12.72 percent from 13.12 percent, while yield on the one-year bill depreciated by 0.07 percent to 14.80 percent from 14.87 percent. As

By Adedapo Adesanya The last trading session of the first week at the NASD Over-the-Counter (OTC) Securities Exchange closed flat on Friday, January 7, with the prices of stocks on the platform remaining unchanged at the close of transactions. Business Post reports that the key performance indicators were in stalemate yesterday, with the market capitalisation retaining the previous value of N631.72 billion and the NASD Unlisted Security Index (NSI) still intact at 746.03 points. In the midst of the stalemate, the trading data showed that there was a reduction in the volume and value of securities transacted by investors during

This year, Madrid “Real” triumphed in the Champions League for this third time in a row. Achievements of “Barcelona” in La Liga seem more modest, so the next season of the Champions League will be an obvious priority for the Catalan management. Now, the Catalans have everything for the good playing on the international arena. Lionel Messi is still in phenomenal shape and setting new records. His partners are keeping pace with him. Ter Stegen has achieved a significant progress and become one of the best goalkeepers in the world. Pique, Suarez, Rakitic, Umtiti – there’s a really long list

By Adedapo Adesanya The Central Bank of Nigeria (CBN) in conjunction with Nigeria Inter-Bank Settlement System (NIBSS) and the Bankers’ Committee have agreed to launch an initiative that will allow lenders to recover loans from deposit accounts of loan defaulters from any bank or financial institution in the country. This was disclosed by Ms Aishah Ahmad, the Deputy Governor of the Central Bank of Nigeria at the end of the meeting of the Bankers’ Committee held in Abuja on Monday, August 26, 2019. According to Ms Ahmad, the directive was to encourage banks to increase lending in the country with

By Modupe Gbadeyanka All is now set for the 2020 edition of Budget Seminar organised by the Securities and Exchange Commission (SEC). A statement issued on Wednesday by the Head of Corporate Communication at SEC, Mrs Efe Ebelo, disclosed that the event will take place at the Eko Hotels and Suites Victoria Island, Lagos on Thursday, February 13, 2020. The seminar will bring together experts with professional, policy and academic background in order to deliberate extensively on how the capital market can leverage the 2020 budget as well as the finance Act 2019 for growth and the implication of the

By Quantitative Financial Analytics Ltd To stem the continued devaluation of the Naira and to breathe some air of stability into the ever-volatile Naira/Dollar relationship, the Central Bank of Nigeria (CBN) introduced some far-reaching measures at different times. One of such measures was the launching of the Naira-settled OTC FX Futures Market. That “history making” event which commenced on June 27, 2016 made the CBN “the pioneer seller of the Naira-settled OTC FX Futures contracts on the FMDQ OTC Securities Exchange (FMDQ)”. Before the advent of the Naira-settled OTC FX Futures, various governments in Nigeria had been tinkering with the