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Media Highlights 08-02-2024
(Source: CardinalStone Research, Date: 08-Feb-2024)

Global Market News

 

China's consumer prices suffer steepest fall since 2009 as deflation risks stalk economy"" Reuters

China's consumer prices suffered their steepest fall in more than 14 years in January while producer prices also dropped, underscoring the persistent deflationary risks facing the world's second-biggest economy as it struggles to recover. Click https://www.reuters.com/world/china/chinas-consumer-prices-suffer-steepest-fall-since-2009-deflation-risks-stalk-2024-02-08/ for more

 

Dollar oscillates on less dovish Fed comments; yuan steady after inflation data"" Reuters.

The U.S. dollar was trading in a tight range on Thursday as traders digested less dovish remarks from policymakers overnight and looked ahead to fresh economic data from the United States. Click https://www.reuters.com/markets/currencies/dollar-oscillates-less-dovish-fed-comments-china-inflation-data-awaited-2024-02-08/ for more

 

 Macroeconomic News

 

Senate gives Edun seven-day ultimatum on N100bn gas project "" Punch

Senate Committee on Gas has given the Finance Minister, Wale Edun, a-seven-day ultimatum to provide details of the award and disbursement of over N100bn to companies engaged in the handling of the Presidential Compressed Natural Gas projects allegedly done in breach of the Public Procurement Act 2017. Click https://punchng.com/senate-gives-edun-seven-day-ultimatum-on-n100bn-gas-project/ for more.

 

NNPC, Others Begin Production Of Oil From Akpo West Field""Daily Trust

The Nigerian National Petroleum Company Limited (NNPC Ltd) says the Akpo West, a Petroleum Mining Lease (PML) 2 (formerly OML 130), has started production of 14,000 barrels of oil per day. Click https://dailytrust.com/nnpc-others-begin-production-of-oil-from-akpo-west-field/ for more.

 

FG promises to raise electricity supply"” NUFBTE "" Punch

The Minister of Power, Bayi Adelabu, has assured Nigerians there would be incremental power supply. Click https://punchng.com/fg-promises-to-raise-electricity-supply/ for more.

 

Bank Of Industry To Disburse N200bn To MSMEs, Others"" Daily Trust

The Bank of Industry (BOI) has been appointed by the Federal Government as the executing agency of a N200 billion fund to support businesses across Nigeria. Click https://dailytrust.com/bank-of-industry-to-disburse-n200bn-to-msmes-others/ for more

 

Court Orders Federal Gov't To Fix Price Of Goods In 7 Days "" Leadership

Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos has ordered the federal government to fix the price of goods and petroleum products in Nigeria in accordance with Section 4 of the Price Control Act within seven days from Wednesday. Click https://leadership.ng/breaking-court-orders-federal-govt-to-fix-price-of-goods-in-7-days/ for more.

 

Company News

 

BATN unveils 1.4mw solar plant"" The Sun

The British American Tobacco Nigeria's (BATN) factory in Ibadan has commissioned a 1.4MW grid-tied solar panel system, which is part of the achievements in self-subsistent power generation that has kept the company going. Click https://sunnewsonline.com/batn-unveils-1-4mw-solar-plant/ for more.

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