Media Highlights 08-01-2025 | InfoWARE Finance

Media Highlights 08-01-2025
(Source: CardinalStone Research, Date: 08-Jan-2025)

Global Market News

Asian stocks slip, dollar bolstered by US rate outlook"” Reuters

Asian stocks drifted lower on Wednesday, with a robust dollar keeping the yen pinned near six-month lows as traders wagered the Federal Reserve will likely be slow in cutting rates after data showed the U.S. economy and labour market remained stable. Click here for more.

Oil rises on tighter OPEC supply, US jobs data"” Reuters

Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened while data showing an unexpected increase in U.S. jobs openings pointed to expanding economic activity and consequent growth in oil demand. Click here for more.

Macroeconomic News

FX utilisation dips on lower invisible transactions"” Punch

The demand for foreign exchange in the third quarter of 2024 dropped primarily due to a significant decline in invisible transactions. This was indicated in the latest Quarterly Statistical Bulletin published by the Central Bank of Nigeria on its website. Click here for more.

2025: Maritime stakeholders push for 24-hour cargo clearance, stable FX, improved infrastructure"” The sun

As activities gradually peak in 2025, maritime stakeholders are calling for urgent reforms to propel the industry forward. According to them, prioritising 24-hour cargo clearance, stable foreign exchange and improved infrastructure are not just mere demands but factors that will unlock greater efficiency, competitiveness and ultimately setting the stage for a transformed industry. Click here for more.

Freight forwarders seek steady exchange rate"” Punch

The President of the Africa Association of Professional Freight Forwarders and Logistics of Nigeria, Frank Ogunojemite, has called on the Federal Government to ensure a steady exchange rate policy in 2025 in a bid to prevent low imports in the new year. Click here for more.

Dangote refinery retained 13% of Nigeria's crude exports "" Report "” Punch

The Dangote Petroleum Refinery retained 13 per cent of Nigeria's crude oil exports as domestic supply in 2024, a new report by Reuters has stated. It said the development raised Nigeria's domestic share of oil exports from percent in 2023 and slightly cut the country's exports to Europe. However, despite being a major net exporter of crude, Nigeria imported 47,000 barrels per day of US oil in 2024. Experts say this is unusual for crude oil exporting countries. Click here for more.

NCC, telcos plan infrastructure upgrade with tariff hike proceeds - Punch

Nigerian mobile operators have agreed to channel the revenue from the proposed 100 per cent tariff increase into major network infrastructure upgrades and service quality. This is a major condition for the telcos as they await final approval for the tariff hike following discussions with the government and the Nigerian Communications Commission. Click here for more.