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BUSINESS NEWS BRIEF – OCTOBER 14, 2015

14
Oct

THIS DAY

Agricultural Investment Risks, Opportunity for Insurance Industry
Managing Director of Nigerian Agricultural Insurance Corporation (NAIC) Mr. Bode Opadokun has said that  the  apparent increase in agricultural investments in Nigeria with attendant rise in risks across the entire agricultural value chain has opened up a big window of opportunity for the insurance industry to manage these risks using insurance as a risk management tool.[Read More…]

VANGUARD

Banks’ cash balances hit highest figure in 2015
Central Bank of Nigeria, CBN, may be visiting the banking system with liquidity mop up instruments this week as the heavy surge in excess liquidity has crashed both interbank rate and yield on treasury bills, while piling demand pressure on the foreign exchange market.[Read More…]

GUARDIAN

Fall in crude oil prices brings revenue to N1.5 trillion
Available data from the Central Bank of Nigeria (CBN) showed that total federally-collected revenue during the second quarter of 2015, stands at N1.5 trillion, reflecting a decline of 39.2 and 27.7 per cent, compared with the provisional quarterly budget estimate of N2.5 trillion and receipts of N2.05 trillion in the preceding quarter, respectively.[Read More…]

LEADERSHIP

DMO To Raise Bonds Worth N80b
The Debt Management Office (DMO), said it would raise N80 billion worth of bonds in two categories on Oct.14.[Read More…]

TRIBUNE

Crude oil revenue crashes by 67% —Report
The Nigerian National Petroleum Corporation (NNPC) has declared that its total export crude oil and gas earnings for the period of January – August 2015, has crashed by 67 per cent.[Read More…]

Price instability will affect Nigeria’s export —OPEC
The Organisation of Petroleum Exporting Countries (OPEC) has predicted that the decline in global crude oil prices may persists until 2017 as the oil market is expected to rebalance within two years, which may affect Nigeria’s crude oil earnings in next two years.[Read More…]

REUTERS

Asian shares slip after China’s inflation rate cools
Asian shares tottered on Wednesday, extending losses after consumer inflation in China eased more than expected and heightened concerns about deflationary pressures in the world’s second-largest economy.[Read More…]

China third-quarter growth seen dipping to 6.8 percent, weakest since 2009
China’s economic growth is expected to fall below 7 percent for the first time since the global financial crisis in the third quarter, putting pressure on policymakers to roll out more support measures as fears of a sharper slowdown spook investors.[Read More…]

BLOOMBERG

Europe Futures Follow Asia Losses Amid China Deflation Concerns
Asian stocks fell with European index futures, while higher-yielding currencies got a boost after Chinese factory-gate prices equaled their biggest slump since the global financial crisis, underscoring the threat that weakness in the world’s second-largest economy poses to efforts to fight deflation.[Read More…]

Oil Slide Means `Almost Everything’ for Sale as Deals Accelerate
More than $200 billion worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout, according to IHS Inc.[Read More…]

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