Category Archives: Finance

GTBank, DBN Invest N25 Billion in SMEs

Guaranty Trust Bank plc is partnering with the Development Bank of Nigeria (DBN) to disburse N25 billion funding to entrepreneurs in Nigeria’s Micro, Small and Medium Enterprises (MSMEs) sector in line with its long-term commitment to growing small and medium

Sterling Punished By Polarized Politics

Sterling languished just off four-month lows on Tuesday, with risks of a no-deal Brexit seen rising as the battle to succeed Prime Minister Theresa May got underway. The prospect of a no-deal Brexit, which most economists say would severely damage

U.S Dollar Steadies On Upbeat Consumer Confidence

The dollar stayed firm against a basket of currencies on Tuesday, supported by trade and political worries and a strong rise in U.S. consumer confidence, even as longer-dated U.S. bond yields dropped to 19-month lows. The euro rebounded from session

Banks to Cooperate on Barring Chronic Debtors from Accessing Loans

Tough times await chronic bank debtors as chief executive officers of financial institutions have resolved to create and maintain what they term a ‘Black Book’ for the compilation of details of loan defaulters that will be shared among all their

CBN Injects $205 Million in Interbank Forex Market

The Central Bank of Nigeria, on Tuesday, injected the sum of $205m into the inter-bank foreign exchange market in its continued push to sustain liquidity. Figures obtained from the CBN indicated that authorised dealers in the wholesale segment of the

Dollar Slips As Stocks Give Back Gains

The dollar fell on Friday from a two-year high after orders for U.S.-made capital goods fell, further evidence that manufacturing and the broader economy are slowing, due in part to the trade conflict with China. The weaker-than-expected data, a closely

Gold Eases as Equities Climb, But on Track for Weekly Gain

Gold eased on Friday as stock markets regained momentum, with a weaker dollar and renewed hopes of a rate cut by the U.S. Federal Reserve keeping bullion on track for a weekly gain. Spot gold was down 0.1% at $1,281.62

Facebook ‘Aims to Launch Cryptocurrency Early Next Year’

Facebook has been in contact with US and British financial regulators with a view to launching its own cryptocurrency next year, the BBC reported on Friday. “GlobalCoin” would work with a new digital payments system in about a dozen countries,

Pound Rises After May Announces Plans to Resign

The pound rose on Friday and was set to snap a record losing streak against the euro after British Prime Minister Theresa May set out a departure date after failing to push through a Brexit divorce deal. Trading was volatile

UBA Partners With Mastercard To Reward Loyal Customers With All-expense Paid

UBA Partners with MasterCard to Reward Loyal Customers with All-Expense Paid Trip to 2019 UEFA Champions League Leading Pan-African Bank, United Bank for Africa (UBA) PLC in partnership with leading global payments and technology company, Mastercard recently announced lucky winners