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Global Market News
Asia shares rise as Fed looms large; yen crumbles below key level"” Reuters
Asian stocks got off to a positive start on Monday ahead of the Federal Reserve's policy meeting later in the week, while the dollar broke past the psychologically key level of 160 yen for the first time in decades. Click here for more.
Oil prices fall 1% on Israel-Hamas ceasefire talks, U.S. inflation concerns"” Reuters
Oil prices fell in early Asian trading on Monday, erasing gains from Friday as Israel-Hamas peace talks in Cairo eased fears of a wider conflict in the Middle East and U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon. Click here for more.
Macroeconomic News
Tinubu secures $600m Danish investment to expand Nigeria's existing seaport infrastructure"” This Day
President Bola Tinubu on Sunday secured an investment of $600 million from Danish shipping and logistics company, A.P Moller-Maersk, to expand existing port infrastructure to accommodate more container shipping services in Nigerian ports. Click here for more.
Credit to manufacturing sector up 39% to N7.73trn in 2023"” Vanguard
In spite of numerous challenges confronted by manufacturers in Nigeria, the manufacturing sector's borrowings from the nation's banking sector rose by N2.17 trillion to N7.73 trillion from N5.57 trillion in 2022, representing an increase of 38.8 percent. Click here for more.
Telecoms Operators Urge FG to Address Tariff Review, Regulatory Independence"” This Day
The Association of Licensed Telecoms Operators of Nigeria (ALTON) and The Association of Telecommunications Companies of Nigeria (ATCON), representing Mobile Network Operators (MNOs) and telecommunication companies in Nigeria, have called on the federal government to take decisive action in addressing tariff review, regulatory independence and other numerous issues confronting the telecommunications industry. Click here for more.
Motorists sleep at filling stations as petrol scarcity bites harder"” The Sun
Motorists in Lagos are currently contending with acute shortage of Premium Motor Spirit (PMS), popularly called petrol over what industry observers described as massive drop in import level. Click here for more.
DisCos may post losses as alternative power firms move to crash energy cost"” The Sun
Strong indications emerged at the weekend that the 11 Electricity Distribution Companies (Discos) will post losses in the months ahead as alternative power solution providers have commenced aggressive marketing across various estates and households in a bid to crash their energy cost. Click here for more.
Company News
NB shareholders endorse N600bn capital raising plan"” The Sun
Shareholders of Nigerian Breweries Plc (NB) have unanimously approved capital raising of N600 billion by way of rights issue. The shareholders gave the go ahead at the company's 78th Annual General Meeting held in Lagos at the weekend. Click here for more.
CWG Board of Directors Approves 400% Increase in Dividend Payout"” This Day
CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company's financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders. Click here for more. | 
