Morning Beats

Oil prices steady after shake-out on supply worries

Oil prices steadied yesterday after slipping  prices  on concerns that Saudi Arabia and Russia will pump more crude in response to falling global crude inventories and rising consumer pricesThe Nation

NSE suspends trading on PCMN

The Nigerian Stock Exchange (NSE) yesterday suspended trading on the shares of Paints and Coatings Manufacturers Nigeria (PCMN) Plc as the company moves to finalise its voluntary delisting from the Exchange.The Nation

High-cap stocks drag equities to N153b loss

Nigerian equities showed improved sentiment yesterday but losses suffered by highly capitalised stocks overshadowed the overall market situation.The Nation

CBN sustains forex intervention with $210m injection

The Central Bank of Nigeria (CBN), yesterday sustained foreign exchange  supply in the inter-bank Foreign Exchange market with the sum of $210 millionThe Nation

SEC warns investors over banned investment firm

Securities and Exchange Commission (SEC) has warned investors to shun a proposed restructuring plan by Partnership Investment Company and its subsidiaries.The Nation

External reserves drop further, lose $99m

The nation’s foreign exchange reserves have declined further, losing $99m to close at $47.65bn on Monday, latest data from the Central Bank of Nigeria showed on Wednesday.Punch

Stock market value falls below N14tn, investors lose N153bn

The total market value of all companies trading on the Nigerian Stock Exchange fell below the N14tn mark on Wednesday, for the first time since January 8, 2018.Punch

IMF not worried about Nigeria’s debt, says Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has said that the International Monetary Fund is not worried about Nigeria’s debt profile.Punch

AMCON seeks support for human capital, tech development

Asset Management Corporation of Nigeria (AMCON) has called for the support of the present leadership in sustaining the improved attention to human capital development, science and technology.Guardian

Stakeholders hail improved capacity in steel production

The Institution of Structural Engineers has endorsed African Foundries Limited’s (AFL) capacity to meet Nigeria’s demand for steel products.Guardian

Firms partner to invest in compressed gas project

Powergas Nigeria, a domestic Compressed Natural Gas (CNG) Distribution Company and European Technologies for Africa (ETEFA)- an Austrian green technology company, are investing in the development of CNG as an alternate fuel for mass-transit and haulage sector in the country.Guardian

Paga processes N660 billion worth of transactions

For the third year in a row, Paga has been presented an award by the Nigeria Inter-Bank Settlement Systems Plc (NIBBS) for the mobile money operator’s outstanding performance in achieving the highest transaction count on the Global Mobile Regulatory & Monitoring Platform in 2017, and named Top Mobile Money Operator.Guardian

Global economy loses $160 trillion to gender inequality issues

No fewer than 141 countries are losing $160 trillion in wealth because of differences in lifetime earnings between women and men, the World Bank Group report on gender inequality has shown.Guardian

Afreximbank, others to mobilise $1b for region’s industrialization

The African Export-Import Bank (Afreximbank), Finance Center for South-South Cooperation (FCSSC) and Made-in-Africa Initiative (MIAI) have kicked off a joint effort to mobilise $1billion in equity fund.Guardian

Court rules SONY is not a well-known brand in Kenya

Japanese electronics giant SONY’s quest to protect its trade name in Kenya has suffered a major setback after the High Court ruled that the company is not a well-known brand here.Business Daily

Cost of Turkana oil pipeline now drops by Sh100 billion

Kenya has nearly halved the budget for planned construction of an 865 km pipeline that will move crude oil from Turkana oilfields in the north to Lamu seaport, saving the economy millions of dollars.Business Daily