Morning Beats

Consumers beware of adulterated palm oil

The news that went round, last week, warned consumers to stay away from any palm oil originating from Ghana. According to the email I received from one of our ardent readers, the Swiss government issued a warning and a recall of ‘Zomi’ and ‘Polifuds’ brand palm oil from Ghana due to the presence of ‘Sudan IV [scarlet Red]’.The Nation

What’ll happen to over N100b unclaimed dividends?

The rising portfolio of unclaimed dividends currently estimated at over N100billion has remained a source of worry to the regulatory bodies in the capital market, especially the Securities and Exchange Commission (SEC) which has devised means and ways to address the issue, reports Ibrahim Apekhade YusufThe Nation

Anxiety over N100b unclaimed dividends

As anxiety over the fate of the over N100billion unclaimed dividends heighten, shareholders have impressed on the Securities and Exchange Commission (SEC) the need to extend the deadline.The Nation

NAICOM directs weak insurers to seek mergers, acquisition

NATIONAL Insurance Commission, NAICOM, has called on weak insurance companies to seek opportunities for mergers or acquisition.Vanguard

Corporate results so far show mixed performances

CORPORATE results for full year 2017 have been rolling into the Nigerian Stock Exchange, NSE, since after the Nigerian Breweries, NB Plc, blazed the trail previous week. Vanguard

More 2017 companies’ earnings to determine market direction this week

THE expected release of more companies’ results for the full year 2017 on the Nigerian Stock Exchange, NSE, is expected to dictate stock market direction this week.Vanguard

Financial Inclusion: CBN grants Freedom Network super-agent licence

THE Central Bank of Nigeria, CBN, has granted an approval-in-principle, AIP, to 3Line Card Limited to operate as a super-agent in the nation’s financial services system in order to boost financial inclusion in Nigeria.Vanguard

Royal Exchange undertakes corporate restructuring

ROYAL Exchange Plc has announced plans to undertake a corporate restructuring of its key operations even as it unveils plans to mark 100 years of operationsVanguard

Scarcity of lower naira denomination hurting our businesses — MSME operators

MICRO, Small and Medium Enterprises (MSMEs) operators have lamented the negative impact of the scarcity of lower naira denomination on their businesses, urging the Central Bank of Nigeria (CBN) to sustain the direct distribution of the lower denominations.Vanguard

Foreign investors inject $10.6bn in I&E in 2 months

Intensify demand for Nigerian Corporate Eurobonds Cost of funds to rise amidst sustained liquidity mop upVanguard

Lasaco gets ISO certification

LASACO Assurance Plc has received the ISO 9001:2015 from the Standards Organisation of Nigeria (SON). SON is the representative of the International Organisation for Standardization (ISO) in Nigeria.Vanguard

Analysts bet on January GDP, PMI for positive corporate earnings

FINANCIAL analysts have said that expansion in Gross Domestic Product, GDP, in fourth quarter, Q4, 2017 and the Central Bank of Nigeria, CBN’s, Purchasing Managers, PMI, Index supports the expectation from capital market stakeholders that 2017 full year corporate earnings will come in strong.Vanguard

Petrol demand hits 50 million litres daily, NNPC incurs N24bn monthly as subsidy

The Nigerian National Petroleum Corporation on Sunday announced that it was spending N774m daily (about N23.99bn monthly) as subsidy on the 50 million litres of Premium Motor Spirit consumed across the country.Punch

Thailand to establish rice mills in Nigeria – Minister

The Federal Government on Sunday announced that Thailand had commenced moves to establish rice mills in Nigeria.Punch

Beware of fake tax officials, FG warns Nigerians

The Minister of Finance, Mrs. Kemi Adeosun, on Sunday warned those wishing to take advantage of the Voluntary Asset and Income Declaration Scheme in regularising their tax status to be mindful of fake tax officials.Punch

Economic growth may hit 2.2% this year, Rewane predicts

The Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismark Rewane, says economic growth in Nigeria may hit 2.2 per cent this year, notwithstanding the upcoming general electionsPunch

Equity market – Listed securities on NSE

The NigeriaN bourse rebounded from the lull experienced in the previous trading session as the key performance indicators closed the past week on a promising note. Consequently, the NSE All-Share Index and market capitalisation appreciated by 0.72 per cent and 0.82 per cent to close the week at 42,876.23 and N15.403tn, respectively. With this, the NSE ASI has posted a 12.11 per cent return year-to-date.Punch

Amend SEC law to ensure proper IST funding

The Chairman, Investments and Securities Tribunal, Mr. Siaka Idoko-Akoh, has appealed to the National Assembly to amend the Securities and Exchange Commission Act to guarantee proper funding of the tribunal.Punch

Oando minority shareholders accuse SEC of cover-up

Minority shareholders of Oando Plc under the aegis of the Proactive Shareholders Association of Nigeria have submitted a fresh petition to the House of Representatives Committee on Capital Market and other Institutions, accusing the Securities and Exchange Commission of shielding Oando Plc from probe.Punch

World Bank bets billions on Kenya’s private firms

The World Bank’s private sector lending arm, the International Finance Corporation (IFC), has invested Sh17.7 billion in two Kenyan companies in the first two months of the year in a move that signals increased interest in local firms.Business Day Kenya

Telkom to get Sh4bn for network upgrade

Telkom Kenya is set to receive a Sh4.1 billion ($40 million) loan from the European Investment Bank to boost infrastructure and mobile money network.Business Day Kenya

Universal Group buys Kenyan music company AI Records

Universal Music Group has acquired majority stake in a Kenyan record label in a deal that gives the American multinational access to one of the largest catalogues of East African music.Business Day Kenya

Kenya bets on Colombia transport model to decongest Nairobi

Kenya is moving to borrow from Colombia’s bus rapid transit model in Bogota that will see construction of special lanes for high-capacity buses in efforts to decongest Nairobi roads.Business Day Kenya

Tiger Brands and Rainbow shares drop sharply on listeriosis news

Tiger Brands’ share price fell 13% to R370.30 and RCL Foods’ share price dropped 6.4% to R16.10 shortly after the JSE opened at 9am on Monday morning.Business Day

How the law ensures VAT will rise on April 1

It is legally and practically impossible for the value-added tax (VAT) increase announced in the budget to be reversed by Parliament before the implementation date of April 1 as trade unions and civil society groups are demanding. Business Day

POLITICAL WEEK AHEAD: Parliament to debate ownership of Reserve Bank

The South African Reserve Bank (SARB) will be in the spotlight this week in Parliament, as the National Assembly debates the role, mandate and independence of the Bank.Business Day

EDITORIAL: SA unable to avoid trade war

It’s as yet unclear what the global trade war that US President Donald Trump is about to unleash could mean for SA. But the trouble with trade wars is they risk hitting the most vulnerable nations hardest. So emerging markets, SA included, should be afraid, very afraid.Business Day

ECONOMIC WEEK AHEAD: Signs of recovery in SA expected

Consensus expectation is for real GDP growth at 1% for the year, writes Claire BissekerBusiness Day

A case of mixing up the profit motive

Under the combined leadership of Pravin Gordhan, Nhlanhla Nene and Malusi Gigaba, the Treasury has consistently rewarded SAA for losing moneyBusiness Day

Why Mondi’s capex is set to pay off

Mondi put in a "very robust" performance in the year to December 2017, pushing all major earnings indicators upwards as it set itself up to reap the benefits of a massive capital expenditure programme.Business Day

Nigeria's Sticky Inflation Threatens to Frustrate Rate-Cut Hopes

Nigeria’s long-awaited interest rate-cutting cycle risks being short-lived, if it starts at all.Bloomberg

World's Best Performing Macro Hedge Fund Lost 16% Last Month

The PruLev Global Macro Fund gave up almost one-third of last year’s 52 percent gain in February, after being caught out by the return of volatility.Bloomberg

French Insurer AXA Agrees to Buy XL Group for $15.3 Billion

Axa SA agreed to buy XL Group Ltd. for $15.3 billion in cash, seeking to capture a bigger slice of the U.S. property and casualty market as premiums rise after last year’s natural disasters.Bloomberg