Iran’s main stock index broke through the key 2 million point mark for the first time ever on Sunday, state media reported, amid warnings that the market is overheating. The Tehran Stock Exchange’s benchmark TEDPIX index gained 46,844 points in early trading, the official IRNA news agency said, up 2.4...
The prevalence of the Coronavirus has made Africa the world’s next investment destination, due to the huge opportunities inherent in her economies. This revelation was made by the Group Chairman, United Bank for Africa (UBA) Plc, Tony O. Elumelu, while speaking to Africa’s leaders on Thursday, during a virtual session...
U.S. stocks fell sharply on Thursday after a second straight rise in weekly jobless claims fueled worries about a post-pandemic economic recovery, while President Donald Trump floated the possibility of delaying the Nov. 3 presidential elections. Trump, without evidence, repeated his claims of mail-in voter fraud and raised the question...
European stocks were largely flat on Wednesday as investors parsed through a deluge of earnings reports from major lenders like Deutsche Bank and Barclays, while waiting to hear from the U.S. Federal Reserve. The pan-European STOXX 600 edged up 0.1 per cent as a 1.3 per cent jump in retailers...
Baker Hughes Co posted its second consecutive quarterly loss on Wednesday and said it would continue to rein in costs in preparation for a longer period of volatility in oil prices. Oil producers halted the drilling of new wells and drastically cut their budgets following a collapse in crude oil...
Activities on the nation’s bourse on Tuesday sustained a negative posture for the second consecutive day, following sell pressure on banking equities. Specifically, the All-Share Index (ASI) lost 86.01 points or 0.36 per cent to close at 24,114.59 compared with 24,200.60 achieved on Monday. Thus, Month-to-Date and Year-to-Date losses increased to...
Robinhood Markets Inc, the fintech start-up credited with helping popularize trading among millennials, said on Monday it has raised another $320 million in latest funding from new and existing investors at a valuation of $8.6 billion. The new round includes investors such as TSG Consumer Partners and IVP, and brings...
The total unclaimed dividend figure in the Nigerian capital market stood at N158.44 billion as of December 2019. Data obtained from the Securities and Exchange Commission (SEC) show that the figure is still on the increase in spite of e-dividend registration introduced by SEC in 2015. Dividend is the distribution of...
Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8 per cent from 6.2 per cent, cashing out around $8.2 billion dollars at its current share price, the firm’s annual filing released on Friday showed. The divestment comes as Jack...
World shares were approaching a five-month peak and the dollar slipped on Monday as investors wagered the earnings season would see most companies beat forecasts given expectations had been lowered by coronavirus lockdowns. The U.S. earnings season kicks off this week with major Wall Street banks JPMorgan, Citigroup and Wells...
British government borrowing is on course to surge to around 350 billion pounds ($442 billion) this year following the latest spending measures announced by finance minister Rishi Sunak, the Institute for Fiscal Studies think tank estimated on Thursday. “Back in March, the government forecast a deficit of about 50 to...
An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday, Indonesia’s Trade Ministry said. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ratified by the Indonesia’s parliament in February, aims to boost bilateral trade that...
Wall Street’s main indexes were set to open near-flat on Wednesday, as a record single-day spike in coronavirus cases in the country heightened fears of another lockdown and threatened to derail a nascent economic recovery. After notching up its biggest three-month gains since 1998 in the previous session, the S&P...
U.S. drugmaker Sigma-Aldrich provided incorrect and misleading information during an antitrust review of its 2015 takeover by Merck KGaA, EU regulators said on Wednesday as they dropped the German company from their investigation. The European Commission said it had sent a supplementary statement of objections or charge sheet to Sigma-Aldrich....
Gunmen attacked the Pakistan Stock Exchange building in the city of Karachi on Monday, killing two guards and a policeman before security forces killed all four of the attackers, police said. Separatist insurgents from Balochistan province - the Baloch Liberation Army (BLA) - claimed responsibility in a post on Twitter...
The Namibian cabinet on Saturday revealed plans to set up a sovereign wealth fund for the country. A statement released by the cabinet said the sovereign wealth fund will be set up by the country’s Minister of Finance to secure savings for the country’s future. The Namibian cabinet assigned the Ministry...
Lufthansa has drawn up a plan to prevent an insolvency should a virtual extraordinary shareholders’ meeting on Thursday fail to approve a $10 billion government bailout, a company source told Reuters on Wednesday. The German government could still get a 20% stake, as originally planned, in two steps without the...