Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish is one of the foodstuffs currently being exported from Nigeria to countries in Europe, America and Asian More »

How to export Ginger from Nigeria and Make Huge Profit

How to export Ginger from Nigeria and Make Huge Profit

The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. More »

Make Millions of Naira through Cashew Export from Nigeria.

Make Millions of Naira through Cashew Export from Nigeria.

The export of cashew nuts and other agricultural commodities from Nigeria is fast becoming very lucrative these days; More »

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits More »

Start A Profitable Groundnut Oil Production Business in Nigeria

Start A Profitable Groundnut Oil Production Business in Nigeria

The high demand for groundnut oil nationwide and the short fall in supply due to the ban on the importation of the product by the federal government of Nigeria has thus make Groundnut oil production business very lucrative. More »

 

Sterling Hits 3-Month Low as Brexit Deadlock Erodes Support for PM May

The sterling fell sharply on Wednesday on growing expectations that Prime Minister Theresa May will fail again to get her Brexit deal approved and could soon face a leadership challenge.

Sterling has weakened more than 1% this month as deadlocked cross-party talks expose deep political divisions over how, when and even if Brexit should take place.

May plans to put forward her thrice-rejected Brexit deal in the week beginning June 3, to try to secure an agreement before lawmakers go on summer holiday.

But Britain’s opposition Labour Party said it would not ratify the deal if a compromise agreement is not reached with the government.

Those comments fuelled speculation that May will soon be ousted and pressured the pound.

The currency fell 0.5% to $1.2943, its lowest since Feb 15, and dropped 0.4% versus the euro to 87.13 pence.

“Failure to pass the deal [in June] could well see May finally step down, opening the door for a more eurosceptic prime minister and a possible hard Brexit,” said Petr Krpata, an FX strategist at ING in London.

Sterling has fallen for eight consecutive days against the dollar despite mostly solid economic data in Britain in recent months.

A worry for investors is that months of inventory stockpiling by British companies before Brexit will show up this quarter.

British employment data on Tuesday showed wage growth in the quarter ending March was lower than expected, signalling the possible start of a turbulent period for the broader economy.

Volatility in currency markets is historically low and in recent weeks investors have curtailed their bets on big swings in the pound.

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