Global Market News

Dollar and stocks gain as Fed charts 'soft landing' path"” Reuters

The dollar bounced, long-dated bond yields were up, and Asian stocks rose after the U.S. Federal Reserve announced a 50-basis-point rate cut and flagged that its easing cycle would be measured. Click here for more.

Oil prices fall as US rate cut fails to boost market sentiment"” Reuters

Oil prices fell in Asian trading on Thursday after a larger-than-expected Federal Reserve interest rate cut sparked concerns about the U.S. economy. Click here for more.

Morning Bid: UK inflation to keep BoE on cautious path"” Reuters

With the Federal Reserve's highly anticipated rate cut done and dusted, the Bank of England (BoE) is next up in the rate decision spotlight, although Thursday's outcome looks unlikely to be a head-turner. Click here for more.

Macroeconomic News

Production of new low-sulphur crude hits 996,070 barrels "" FG"” Punch

The daily average production of Utapate, Nigeria's new low-sulphur crude oil grade, has risen to 32,000 barrels per day, the Federal Government has said. Click here for more.

CBN reintroduces cybercrime levy"” The Sun

Bank customers of several commercial banks are in a state of confusion currently following the recent release of the fiscal guidelines of the Central Bank of Nigeria (CBN) which revealed that it will continue to enforce a reduced 0.005% levy on all electronic transactions. Click here for more.

OPEC blames taxes for fuel price hikes"”Punch

The Secretary General of the Organisation of Petroleum Exporting Countries, Haitham Al Ghais, has revealed that taxes imposed by major oil-consuming countries, not oil prices, are the primary driver of fuel costs. Click here for more.

Aircraft leasing: Nigeria's global rating soars to 70.5"” Punch

Nigeria's aviation rating has seen a significant increase, soaring to 70.5, following the country's full compliance with the Cape Town Convention on the dry-leasing of aircraft, the Federal Ministry of Aviation and Aerospace Development announced on Wednesday. Click here for more.

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