Local Market Economic Updates

Concrete roads: Cement price to hit N9,000, say manufacturers

The Cement Producers Association of Nigeria has warned that the ongoing plan of the federal government to introduce concrete roads will raise the price of cement to N9, 000 per bag from the current price of N5,000…Read more

Conoil to pay shareholders N1.73bn dividend

Conoil Plc is to pay N1.73bn as dividend to its shareholders. This translates to N2.50 per share for the 2022 financial year. The major oil marketer in a statement issued at the weekend after its 53rd Annual General Meeting held in Uyo, Akwa Ibom State, said that despite the developmental challenges in the country and the tough operating environment, its Profit Before Tax grew…Read more

Stock market sheds N39bn amid increased trade volume

The local bourse closed negative on Friday by 0.11 per cent week-on-week due to weak market momentum which saw investors losing N39bn. Both the market capitalisation and the Nigerian Exchange Limited All Share Index closed trading lower at N36.847tn and 67,324.59 respectively compared to the previous week’s figure of N36.886tn and 67,395.74 basis points…Read more

MTN Group Reiterates Long Term Strategic Plan, Eyes 100m MoMo Users

MTN Group has reiterated its long term sustainability plan that will see it attain 100 million MoMo users on its financial transaction platform in 2025, up from the current over 69 million users across Africa. Other long term) in Lagos…Read more

Global and Emerging Market Economic Updates

Asia markets mixed as investors look to inflation data across the region Asia-Pacific markets are mixed as investors look toward inflation data from across the region this week. Singapore and Australia are expected to report inflation figures for August this week, while Japan will release inflation data for the Tokyo region…Read more

Russia’s indefinite ban on diesel exports threatens to aggravate a global shortage

Russia imposed an indefinite ban on the export of diesel and gasoline to most countries, a move that risks disrupting fuel supplies ahead of winter and threatens to exacerbate global shortages. In a government decree signed by Prime Minister...Read more

Ukraine war live updates: Ukraine and U.S. to jointly produce weapons; Russia inflicts ‘significant damage’ on Odesa in attack

Ukraine’s important port city of Odesa suffered what officials called “significant damage” in a large-scale Russian attack overnight.

Ukraine’s southern defense forces said 19 Shahed-136/131 type attacking drones, 12 Kalibr missiles and 2 Onyx supersonic missiles were used in the attack on Odesa….Read more

Apple’s iPhone 15 launches in China with people flocking to stores — even as Huawei revival emerges People flocked to a flagship Apple store in downtown Beijing on Friday morning to pick up the latest iPhone, despite…Read more