Global Market News

BOJ will debate easy-policy exit when inflation nears target -Gov Ueda "" Reuters

Bank of Japan Governor Kazuo Ueda said the central bank will discuss a strategy for exiting ultra-loose monetary policy when sustained achievement of its 2% inflation target approaches. Click https://www.reuters.com/markets/asia/bojs-ueda-stresses-need-maintain-ultra-loose-policy-2023-11-17/ for more

Singapore to pilot use of wholesale central bank digital currencies in 2024 "" CNBC

Come 2024, Singapore will pilot the live issuance and use of wholesale central bank digital currencies, said Ravi Menon, managing director of the Monetary Authority of Singapore. Click https://www.cnbc.com/2023/11/17/singapore-to-pilot-wholesale-central-bank-digital-currencies-in-2024.html for more

Macroeconomic News

Service shutdown imminent as USSD debts hit N200 billion "" The Guardian

Possible shutdown of the unstructured supplementary service data (USSD) appears near as telecommunications operators have disclosed that the debts owed by deposit money banks (DMBs) have hit N200 billion. Click https://guardian.ng/business-services/service-shutdown-imminent-as-ussd-debts-hit-n200-billion/for more

Fuel scarcity: Marketers blame low supply, NNPCL disagrees "" Punch

Oil marketers stated on Thursday that the reason behind the long queues at petrol filling stations in Abuja and neighbouring Nasarawa and Niger States is the insufficient supply of Premium Motor Spirit by the Nigerian National Petroleum Corporation Limited. Click https://punchng.com/fuel-scarcity-marketers-blame-low-supply-nnpcl-disagrees/ for more

Nigeria withdraws $1 billion claim against Eni "" Punch

The Federal Government has concluded plans to withdraw civil claims totalling $1.1bn against Eni SpA, ending a long battle in Italian courts over allegations of corruption in an oil field deal. Click https://punchng.com/nigeria-withdraws-1bn-claim-against-eni/ for more

Capital importation to manufacturing sector rises 88.2% to $861 million "" Vanguard

Total capital inflow into the Nigeria's manufacturing sector rose Year-on-Year (YoY) by 88.17 percent in the first half of the year ended June 30, 2023 (H1'23). Findings from the National Bureau of Statistics (NBS) data showed that inflow into the sector jumped to $861.17 million in H1'23 from $457.66 million in H1'22. Click https://www.vanguardngr.com/2023/11/capital-importation-to-manufacturing-sector-rises-88-2-to-861m/for more

AFEX forecasts upswing in commodity prices "" Punch

AFEX, Africa's leading commodities player, has launched its 2023 Crop Production report, foreseeing a surge in commodity prices attributed to a decline in production and rising demand for processing and exports. Click https://punchng.com/afex-forecasts-upswing-in-commodity-prices/ for more

Company News

TotalEnergies hopeful of FID on UBETA OML 58 in Q1, 2024 "" Vanguard

Nigeria's quest for increased investment in the oil and gas sector is receiving a boost as the International Oil Company, TotalEnergies is set to take final investment decision, FID on UBETA Oil Mining Lease, OML 58 in the first quarter of 2024. Click https://www.vanguardngr.com/2023/11/totalenergies-hopeful-of-fid-on-ubeta-oml-58-in-q1-2024/ for more

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