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Global Market News
Oil extends gains as OPEC+ to mull deeper cuts "" Reuters
Oil futures nudged higher on Monday, extending gains on expectations of OPEC+ deepening supply cuts to shore up prices, which have fallen for four weeks on easing concern of Middle East supply disruption amid the Israel-Hamas conflict. Click https://www.reuters.com/business/energy/oil-extends-gains-opec-mull-deeper-cuts-2023-11-20/ for more
China leaves benchmark lending rates unchanged; Japan stocks briefly touch 33-year highs "" CNBC
Asia-Pacific markets started the week higher after most major bourses ended lower in the previous session, while China left its benchmark lending rates unchanged. Click https://www.cnbc.com/2023/11/20/live-markets-asia-markets-set-to-bounce-china-lpr-eyed-.html for more
Macroeconomic News
Inflation: Declining demand triggers 20% fall in food and beverage production "" Vanguard
Manufacturers of food and beverages have reduced production by 20 per cent following declining demand from consumers as a result of persistent rise in prices reflected in a further rise in the food inflation rate to 31.52 per cent in October. Click https://www.vanguardngr.com/2023/11/inflation-declining-demand-triggers-20-fall-in-food-beverage-production/ for more
Amid excess liquidity, DMBs, others' deposits with CBN hit N2.41tn in 13 days"" This Day
Amid excess liquidity fuelled by injections from the Federation Account Allocation Committee (FAAC), Nigeria's Deposit Money Banks (DMBs) and merchant banks in the past 13 days deposited a whooping N2.41 trillion with the Central Bank of Nigeria (CBN). The banks' rush to deposit cash with the CBN is in a bid to abide by the apex bank's regulation on Capital Adequacy Ratio (CAR). Click https://www.thisdaylive.com/index.php/2023/11/20/amid-excess-liquidity-dmbs-others-deposit-with-cbn-hit-n2-41tn-in-13-days for more
Nigeria to seal refinery deal with S/Arabia H1, 2024, despite skepticism "" Leadership
The federal government is meticulously pursuing its refinery rehabilitation deal with Saudi Arabia despite fears expressed by some analysts with industry knowledge. The deals included a pledge by Saudi officials to fix Nigeria's four broken oil refineries, which haven't worked in years, forcing the country to import all of its fuel. Click https://leadership.ng/nigeria-to-seal-refinery-deal-with-s-arabia-h1-2024-despite-skepticism/ for more
Rice price skyrockets as local production declines "" Punch
Rice consumption in the country has been on a steady rise, beyond the reach of local supply, leading to a supply gap of about two million metric tonnes annually, a new report has disclosed. This has led to an over 37 per cent increase in the price of the commodity so far in 2023. This was revealed in "˜AFEX Wet Season Crop Production Report for 2023. Click https://punchng.com/rice-price-skyrockets-as-local-production-declines/ for more
NGX eyeing reduction of trading costs via technology "" Sun
Amid growing concerns about huge trading costs made by investors at Nigeria's stock exchange, the Chief Executive Officer of Nigerian Exchange Limited (NGX), Temi Popoola, has revealed that the exchange is exploring ways to leverage technology to focus on reducing brokerage costs. Click https://sunnewsonline.com/ngx-eyeing-reduction-of-trading-costs-via-technology/ for more
Company News
Fidson announces strategic cooperation with Chinese pharmaceutical firm "" Sun
In a bid to further add value to the healthcare landscape in Nigeria and Africa, Fidson Healthcare Plc and Jiangsu Aidea Pharmaceutical Co., Ltd in China have officially signed a strategic cooperation agreement in Yangzhou, China. Click https://sunnewsonline.com/fidson-announces-strategic-cooperation-with-chinese-pharmaceutical-firm/ for more | 
