PUNCH
Idle refineries slow N22bn chemicals market growth
The growth of the nation’s oilfield chemicals markets is being hampered by the state of government-owned refineries, among other challenges, the Chief Executive Officer, Matrix Petro-Chem Limited, Dr. John Erinne, has said.[Read More…]
Dollar scarcity: Banks cut customers’ spending abroad by 80%
Nigerian bank customers who are planning to use their payment cards for shopping via Point of Sale terminals in malls and make hard currency withdrawals via Automatic Teller Machines overseas are in for a shock![Read More…]
THISDAY
US Fed Rate Hike Worsens Naira Situation, Falls to N270/$
After a two-day meeting, the Federal Open Market Committee (FOMC) of the US Federal Reserve Bank raised its benchmark interest rate by 25 basis points to 0.25 per cent to 0.50 per cent, a move certain to put more pressure on the naira, which on Wednesday plunged to a new low at the retail segment of the foreign exchange market to N270 to the US dollar.[Read More…]
DAILY SUN
CBN extends N64bn facility to privatised electricity companies
THE Central Bank of Nigeria (CBN) has disbursed a total of N64.7 billion worth of facility to the newly privatised electricity companies as part of its commitments to seeking a lasting solution to power supply problems in the country.[Read More…]
THE NATION
NERC’s planned electricity tariff hike aborted
The House of Representatives has halted the planned increase in electricity tariff by the Nigeria Electricity Regulatory Commission.[Read More…]
First security lending product makes debut in capital market
More than three years after the establishment of security lending framework and appointment of security lending agents (SLAs).[Read More…]
REUTERS
As Fed fog lifts, central bankers keep puzzling over China
The world’s central banks are scrambling to assess the risk a slowing China poses to their economies and appear to be no closer than most other observers to working out what is going on in the world’s second largest economy.[Read More…]
Asian central banks, governments breathe sigh of relief after Fed lifts off
Asian governments and central bankers breathed a collective sigh of relief on Thursday after currencies edged up and stocks rallied rather than recoiled at the U.S. Federal Reserve’s decision to raise interest rates.[Read More…]
BLOOMBERG
Rupee Forwards Climb to Three-Week High as Fed Seen Going Slow
India’s rupee forwards climbed to a three-week high as the Federal Reserve signaled it is in no rush to raise interest rates again after the first increase in almost a decade.[Read More…]
Asia Welcomes Fed Move as Policy Makers Warn of Outflow Risks
Asian policy makers welcomed the Federal Reserve’s decision to raise interest rates for the first time in almost a decade, seeing it as an endorsement of better U.S. economic growth, while some emerging markets sounded caution about possible capital outflows.[Read More…]