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Media Highlights 29-06-2022
(Source: Cardinal Stone Research, Date: 29-Jun-2022)

 

Global Market News

 

China cuts quarantine time for international travelers in big step toward easing Covid controls "" CNBC

Overseas travelers will only need to quarantine at a centralized facility, such as a hotel, for seven days upon arrival in China, the National Health Commission announced Tuesday. Click China cuts quarantine for overseas travelers, easing Covid controls (cnbc.com) for more

 

Oil prices take breather after three-day rally "" Reuters

Oil prices fell on Wednesday after rising in the previous three sessions but losses were limited on the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production. Click Oil prices rise for fourth day on supply worries | Reuters for more

 

Political News

 

Like Tinubu, APC's Vice Presidential Placeholder, Masari, Declares Certificates Missing"" This Day

In a strange coincidence, documents submitted by the vice presidential candidate of the ruling All Progressives Congress (APC), Mr. Ibrahim Masari, to the Independent National Electoral Commission (INEC) have revealed that the placeholder, like the principal candidate, Senator Bola Tinubu, could not also produce requisite certificates to back his stated academic qualifications. Click Like Tinubu, APC's Vice Presidential Placeholder, Masari, Declares Certificates Missing "" THISDAYLIVE for more

 

Northern youths mobilise support, embark on solidarity walk for Obi "" The Sun

The youths, who represent different organisations called on the presidential hopeful to remain resolute in his campaign towards birthing a new Nigeria where the security of lives and property could be guaranteed as against what was currently experiencing. Click Northern youths mobilise support, embark on solidarity walk for Obi "" The Sun Nigeria (sunnewsonline.com) for more

 

APC guber aspirant sues Cole, wants Rivers primary cancelled "" The Guardian

All Progressives Congress (APC) governorship candidate, Tonye Cole, has been dragged to court by an aggrieved governorship aspirant in the just-concluded party primary in Rivers State, Mr. Benard Mikko, over alleged violation of Electoral Act and his (Cole) indictment by a panel. Click APC guber aspirant sues Cole, wants Rivers primary cancelled | The Guardian Nigeria News - Nigeria and World News "” Politics "” The Guardian Nigeria News "" Nigeria and World News for more

 

Macroeconomic News

 

13 marginal fields dormant, FG awards 57 to new investors "" Punch

The Federal Government on Tuesday revealed that 13 out of the 30 marginal fields awarded since 1999 were not producing crude oil, as only 17 of the fields were currently meeting the target of crude oil production. Click 13 marginal fields dormant, FG awards 57 to new investors (punchng.com) for more

 

Reps grill NNPC, NMDPRA, marketers over rising petrol, diesel, gas prices "" Punch

The Federal Government has said it regrets that the petroleum refineries are not working while ruling out the possibility of introducing subsidies on Automotive Gas Oil. Click Reps grill NNPC, NMDPRA, marketers over rising petrol, diesel, gas prices (punchng.com) for more

 

Lagos set to unveil 30-year development plan "" This Day

Lagos State Governor, Mr. Babajide Sanwo-Olu yesterday disclosed plan by the state to unveil a 30-year development plan. Sanwo-Olu said the development plan that would be launched at the forthcoming 9th Economic Summit of the State (known as Ehingbeti), was developed in pursuit of the state's physical development. Click Lagos Set to Unveil 30-year Development Plan "" THISDAYLIVE for more

 

UTM Offshore, Afreximbank sign $11.4 billion financing deal "" Punch

African Export-Import Bank has signed a financing deal with UTM Offshore Limited. This deal was signed at its 29th Annual Meetings in Cairo, Egypt recently. The bank will partly finance activities designed to progress the first Floating Liquefied Natural Gas project in Nigeria to bankability. Click UTM Offshore, Afreximbank sign $11.4bn financing deal (punchng.com) for more

 

NAICOM revokes Standard Alliance, Niger Insurance's operating licences "" This Day

The National Insurance Commission (NAICOM), yesterday wielded the big stick by announcing the cancellation of the operating licences of two insurance companies "" Standard Alliance Insurance Plc and Niger Insurance Plc. Click NAICOM Revokes Standard Alliance, Niger Insurance's Operating Licences "" THISDAYLIVEhere for more

 

EU to deepen ties with Nigeria, others on energy transition "" The Guardian

The European Union (EU) has stated that it would be prioritising Nigeria, Mozambique, Angola and Senegal in its bid to fast-tracking energy transition into renewables on the continent. Click EU to deepen ties with Nigeria, others on energy transition | The Guardian Nigeria News - Nigeria and World News "” Business "” The Guardian Nigeria News "" Nigeria and World News for more

 

Exporters seek National Assembly intervention in N375 billion grant approval "" Punch

The Organised Private Sector Exporters Association has appealed to the National Assembly to urgently ratify the approval of the N375 billion by the Federal Government on the backlog of the Export Expansion Grants for exporters. Click Exporters seek National Assembly intervention in N375bn grant approval (punchng.com) for more

 

Company

 

Fitch reaffirms Ecobank's stable outlook "" This Day

Fitch Ratings has affirmed Ecobank Nigeria Limited's (ENG) Long-Term Issuer Default Rating (IDR) at "˜B-"˜ with a Stable Outlook. Click Fitch reaffirms Ecobank's stable outlook The Nation Newspaper (thenationonlineng.net) for more

 

 

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