17
Jul
July 17, 2023
| Banking index loses 14.3 per cent in one week – Guardian |
| The banking index led the loser’s chart at the end of last week’s transactions on the equities sector of the Nigerian Exchange Limited (NGX) with14.3 per cent, buoyed by price depreciation in FCMB (-17.3 per cent) and UBA (-9.5 per cent). Following the sector, last week, was the insurance and consumer goods indices, shedding 11.5 per cent and 2.3 per cent respectively. The losses were occasioned by selloffs in CHI Plc (-18.6 per cent), Lasaco (-14.8 per cent), Honeywell flourmills (-11.8 per cent) and International Breweries (-11.5 per cent)………. .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
| Market Development: NGX Group Woos FG, Targets Foreign Investment Inflows – Thisday |
| Amid recent bullish sentiments in Nigeria’s stock market, the Board and Management of Nigerian Exchange Group Plc (NGX Group) have said that they are open to working with the Federal government, as well as stakeholders towards improving the country’s credit profile and creating a favorable environment for both domestic and foreign. This was disclosed by the Group Chairman, NGX Group, Alhaji Umaru Kwairanga, during the Group’s 62nd Annual General Meeting (AGM) held in Lagos…………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
| Working Capital, Expansion Drive Lift MTN, Dagntoe Cement, Others’ Debts to N3.08tn – Thisday |
| Following the drive to expand their business networks and compete in key sectors, MTN Nigeria Communication Plc, Dagntoe Cemment Plc, Seplat Energy Plc and 12 other firms listed companies on the Nigerian Exchange Limited raised N3.08 trillion in total debts in first quarter of (Q1) 2023, an increase of 2.57 per cent from N3 trillion reported in full year ended December 31, 2022. Other firms investigated by THISDAY who play in the Fast-moving Consumer Goods (FMCG), oil and gas firms, breweries agro-allied sectors tapped the debt markets to shore up working capital…. ………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
| Geregu pays N8.783bn to Italian firm for gas turbine overhaul – Punch |
| Power generating company, Geregu Power Plc, said it made advance payments of N8.783bn to Italian firm, Ansaldo Energia, for the overhaul of its gas turbine as of the end of June 2023. This was disclosed in the unaudited interim statement of financial position of the Genco for the period ending June 30, 2023, which was filed with the Nigerian Exchange Limited. As of December 2022, advance payment to the Italian firm was N4.616bn……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
| FastCash disburses N105bn digital loans – Punch |
| First City Monument Bank’s instant loan solution, FastCash, has distributed N105bn loans to three million Nigerians. A statement said the instant loan solution powered by Artificial Intelligence and Machine Learning technology was launched in 2018. It noted that it was available to FCMB customers, and repayment terms were flexible, with repayment options ranging from 30 days to three months cycles. ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |