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Global Market News
Japan's export growth slows as China, global downturn risks loom "" Reuters
Japanese exports grew for a second straight month in October but at a sharply slower pace due to slumping China-bound shipments of chips and steel, as weakening external demand takes its toll on the trade-reliant economy. Click https://www.reuters.com/markets/asia/japans-export-growth-slows-global-downturn-risks-loom-2023-11-16/ for more
U.S. and China agree to resume military talks. Takeaways from the Biden-Xi summit "" CNBC
U.S. President Joe Biden and Chinese President Xi Jinping have agreed to resume high-level military communication, according to both countries. Click https://www.cnbc.com/2023/11/16/xi-biden-takeaways-from-us-china-summittaiwan-military-talks-fentanyl.html for more
Macroeconomic News
NLC, TUC suspend strike, ask FG to reciprocate gesture "" The Guardian
After barely two days at the trenches, Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) reached a truce with the Federal Government, late yesterday, bringing to an end the indefinite strike called by former. Click https://guardian.ng/news/nlc-tuc-suspend-strike-ask-fg-to-reciprocate-gesture/ for more
Impact of fuel subsidy removal, higher food Prices push inflation to 27.33% "" This Day
The Consumer Price Index (CPI) which measures the rate of change in the prices of goods and services increased by 0.61% to 27.33% in October compared to 26.72% in the preceding month, the National Bureau of Statistics (NBS) stated yesterday. Click https://www.thisdaylive.com/index.php/2023/11/16/impact-of-fuel-subsidy-removal-higher-food-prices-push-inflation-to-27-33 for more
World Bank disburses $300 million palliative loans "" Punch
The World Bank has commenced payment of the $800 million approved for the National Social Safety Net Program-Scale Up. Click https://punchng.com/world-bank-disburses-300m-palliative-loans/ for more
FG signs 250MW power sale deal with Discos "" Punch
The Federal Government through the Niger Delta Power Holding Company has signed a Power Purchase Agreement with utility companies to distribute a total of about 250MW across the country. A document obtained from NDPHC by The PUNCH said the power sale transactions have been signed since the inception of the "˜Light Up Nigeria' programme currently running under Vice President Shettima. Click https://punchng.com/fg-signs-250mw-power-sale-deal-with-discos/ for more
FG to establish National Land Commission to unlock $300 billion investments "" The Sun
The Federal Government says it is set to establish a National Land Commission to harness $300 billion revenue lost to ineffective land administration in Nigeria. Click https://sunnewsonline.com/fg-to-establish-national-land-commission-to-unlock-300bn-investments/ for more
SEC identity management system, new E-dividend portal to tackle N190 billion unclaimed dividend "" The Sun
The Securities and Exchange Commission (SEC), has said that it is working on an identity management system that would ensure that investors and market participants are properly identified to solve the perennial problem of unclaimed dividends which currently stands at N190 billion. Click https://sunnewsonline.com/sec-identity-management-system-new-e-dividend-portal-to-tackle-n190bn-unclaimed-dividend/ for more
NGX surpasses 71,000 mark with YTD growth of 38% "" The Sun
The Nigerian Exchange Group (NGX) maintained its upward trajectory on Wednesday, recording a 0.25% increase that elevated its benchmark performance indicator to 71,014.34 basis points. This reflects a year-to-date (YTD) growth of 38.22%. Click https://sunnewsonline.com/ngx-surpasses-71000-mark-with-ytd-growth-of-38/ for more
FG seeks collaboration for AfCFTA success "" Punch
The Federal Government has urged West and Central African countries to collaborate for the success of the African Continental Free Trade Area. Speaking during the closing ceremony of the 43rd Council and 18th Managing Directors' Roundtable of the Port Management Association of West & Central Africa in Lagos, the Permanent Secretary of the Federal Ministry of Transportation, Dr Magdalene Ajani, called for a collective action for the success of AfCFTA. Click https://punchng.com/fg-seeks-collaboration-for-afcfta-success/ for more
Company News
Providus moves to acquire majority stake in Unity Bank "" This Day
ProvidusBank Limited, a commercial bank founded in 2016, has taken bold steps to acquire majority stake in Unity Bank Plc, as part of the former's business expansion plan. THISDAY gathered from a reliable industry source that the arrangement which Unity Bank, which had been struggling to beef up its minimum capital requirement since 2017, has termed a business combination, was being monitored by the Central Bank of Nigeria (CBN). Click https://www.thisdaylive.com/index.php/2023/11/16/providus-moves-to-acquire-majority-stake-in-unity-bankprovidusprovidus-moves-to-acquire-majority-stake-in-unity-bank for more
UBA's $6 billion partnership with AfCTA to boost Trade across Africa "" The Sun
United Bank for Africa (UBA) Plc, has restated its committment towards deepening Intra-Africa trade to attain self-reliance and economic development. The bank said it was important for Africa to be deliberate about the economic liberation drive of the continent. Click https://sunnewsonline.com/ubas-6bn-partnership-with-afcta-to-boost-trade-across-africa/ for more | 
