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Bank & Finance

Mar 30, 2020
The International Monetary Fund (IMF) has inaugurated a fund-raising initiative through its Catastrophe Containment and Relief Trust (CCRT) that would enable it provide additional debt service succour to its poorest…
Mar 30, 2020
People’s Bank of China(PBoC) on Monday cut interest rate on loans to banks by the largest margin in five years, to help the world’s second-largest economy weather the effects of…
Mar 30, 2020
The African Development Bank has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and…
Mar 26, 2020
The African Export-Import Bank (Afreximbank) has announced a $3-billion facility, named Pandemic Trade Impact Mitigation Facility (PATIMFA), to help African countries deal with the economic and health impacts of the…
Mar 23, 2020
United Bank for Africa (UBA Plc), Transcorp and all affiliated companies have announced the cancellation of their 2019 Annual General Meetings (AGMs) to prevent the spread of COVID-19. The companies…
Mar 22, 2020
The devaluation of Nigeria’s currency Naira by the Central Bank of Nigeria from the official rate of N307 to N360 has triggered mixed reactions from analysts. Prof. Uche Uwaleke, a…
Mar 18, 2020
Apple Inc was on Monday slammed with a fine of €1.1 billion Euros (1.2 billion dollars) by French authorities, for making anti-competitive agreements with two firms in its distribution network.…
Mar 17, 2020
The Minister of Finance, Zainab Ahmed, said on Monday the Federal Government may suspend its $22.7 billion external borrowing plans due to current realities in the global economic landscape.  …
Mar 16, 2020
Economic stimulus plans worth $40 billion have been rolled out by the central banks of the United Arab Emirates (UAE) and Saudi Arabia, the two largest Arab economies.   The…
Mar 16, 2020
The U.S. Federal Reserve slashed rates back to near zero, restarted bond buying and launched other measures from its crisis-era toolkit, along with other central banks. The move was meant…
Mar 15, 2020
Banks operating in Angola are required to guarantee the capital invested by clients in complex financial products, “under any circumstances,” according to Notice no. 5/2020, of 28 February, published on…
Mar 11, 2020
Indications emerged on Monday that the African Development Bank (AfDB) had endorsed an outlay of $200 million (around N61.2 billion) for Nigeria to develop its decrepit power transmission facilities.  …
Mar 10, 2020
The Naira is currently at the mercy of two economic catastrophes: the ceaseless plunge in oil prices triggered by the untameable COVID-19, and the nation’s shrinking international reserves that have…
Mar 09, 2020
Rana Kapoor, the arrested founder and former managing director of India’s crisis-hit Yes Bank, faces a double charge of corruption and money laundering to the tune of almost $602million. Kapoor…
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