Morning Beats

Portfolio Institute signs MoU with CISI

Portfolio Management Institute (PMI) Nigeria, has signed an agreement with Chartered Institute for Securities and Investment (CISI), United Kingdom (UK).The Nation

‘Ability to support risk assets vital to banks’survival’

THE ability to support risk-as-set creation in the real sector will differentiate winners from losers in the banking industry over the next three years, a report by the leading research houses in Nigeria, Coronation Research has saidThe Nation

Guinea grows shareholders’ fund by 16%

Guinea Insurance Plc has achieved an increase in shareholders’ fund as it recorded N3.4 billion in its 2017  financial year end.The Nation

Tripple Gee eyes growth with new anti-counterfeiting solution

Tripple Gee & Company Plc will this week launch an anti-counterfeiting solution aimed at boosting the business of the security printing company.The Nation

Fictitious investors get September 30 deadline to claim shares

Investors that used fictitious names and other covert means to buy shares during public offerings have been given up till September 30, to provide proof to claim and regularise their shareholdings.The Nation

NIA to NAICOM: stop claims defaulters from new businesses

To sanitise the insurance industry and rid it of underwriters who fail to pay genuine claims to insuring public, insurance companies’ umbrella body, Nigeria Insurers Association (NIA),  has called on the regulatory body, the National Insurance Commission (NAICOM) to stop the erring firms from doing new businesses.The Nation

Dangote refinery raises marketers supply hope

Marketers are banking on Dangote Petrochemical Refinery for adequate fuel supply to end perennial scarcity, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said.The Nation

NSE sanctions eight companies for late results

31 others to be penalised The Nigerian Stock Exchange (NSE) has sanctioned eight companies for submitting their audited reports and accounts for the immediate past business year lateThe Nation

‘Political risk, weak macro-economic concerns for investors’

Political uncertainty and relatively weak economic fundamentals have negatively affected Merger & Acquisition (M&A) activity in Nigeria and some other African markets.The Nation

‘CPS has provided savings for Nigerians’

The establishment of the Contributory Pension Scheme (CPS) has provided a platform for Nigerians to have savings with over N7.52 trillion pension fund assets.The Nation

World economic outlook: IMF optimistic of growth expansion

The world economy is on the verge of growth expansion. This is projection by of the International Monetary Fund in its World Economic Outlook (WEO) report released ahead of Spring Meetings currently ongoing in Washington, D.C.The Nation

Nigeria’s return to JP Morgan’s Index imminent as NAFEX attracts $45bn in 1yr

The  readimission  of Nigeria  into the J.P Morgan Government Bond Index-Emerging Market (GBI-EM) is imminent following the successful operation of the Investors and Exporters (I&E) window for one year with turnover of $45 billion.Vanguard

Forex, oil price volatility top 2018 business risks — KPMG

KPMG Nigeria has said  that Foreign Exchange (Forex) and crude oil price volatility are among the top ten risks for Nigerian businesses in 2018, even as the nation’s business environment shows encouraging signs of improvement through resurgence in consumer confidence and moderating inflation.Vanguard

Banks face lower profits on new CBN disclosure rule

A new accounting rule mandating banks to make further disclosures of their assets, including loan portfolio, will make Nigerian lenders to report lower profits, it has been learnt.Punch

Refineries’ TAM: Reps summon Kachikwu, Adeosun, Emefiele, others

An ad hoc committee of the House of Representatives has summoned the Minister of Finance, Mrs. Kemi Adeosun, and the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to explain the Federal Government’s bid to spend $ 1.8bn on the turnaround maintenance of the country’s four refineries.Punch

Nigeria will sustain positive growth outlook – Adeosun, Emefiele

The Minister of Finance, Mrs. Kemi Adeosun, and the Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Sunday stated that the country’s positive growth outlook would be sustained.Punch

Tata to produce 40% of trucks in Nigeria

Tata Africa Services Nigeria Limited says it plans to manufacture 40 per cent of its trucks being sold in the country locally from next year.Punch

Fidelity Bank of Ghana Plans to List on Stock Exchange by 2020

Fidelity Bank Ltd., a closely held Ghanaian lender, plans to list its shares for trading on the country’s bourse by 2020 as it targets a spot among the largest three banks in the West African nation.Bloomberg

BAT spends Sh392m on second staff layoff

Cigarette manufacturer BAT Kenya   has dropped 24 more employees at a cost of Sh392 million, intensifying its retrenchment as the company reaps the benefit of increasingly automated production.Business Daily

Tanzania, Uganda restrict Kenya’s sweets, ice cream

A fresh round of trade wars is simmering in East Africa after Tanzania and Uganda imposed taxes on Kenya made confectionery products like chocolate, ice cream, biscuits and sweets citing use of imported industrial sugar in the goods.Business Daily

Steinhoff board survives bruising AGM in Amsterdam

Steinhoff’s board survived a bruising annual meeting in Amsterdam on Friday though a protest vote against two directors by the Public Investment Corporation (PIC) nearly torpedoed its plan to put a "restructuring plan" to lenders in May.Business Day