BusinessDay

A good part of the world appears to be turning the corner in the fight against the deadly Coronavirus with China reporting no new coronavirus deaths for the first time since the pandemic emerged. Adding to signs that the crisis may be easing in some areas, Italy, France, Germany and Spain reported lower numbers of […]

Nigeria’s hope of raising dollar-denominated cash in the Eurobond market to finance its deficit may have finally hit the rocks as rating agency, Fitch, downgraded the country’s long-term foreign currency issuer default rating (IDR) to ‘B’ from ‘B+’ with a negative outlook, citing external and fiscal pressures. The new rating by Fitch is at par […]

In his 2019 book “Narrative Economics: How stories go viral & drive major economic events”, Nobel laureate Robert Shiller highlights the two elements of what he means by narrative economics viz. “(1) the word-of-mouth contagion of ideas in the form of stories and (2) the efforts that people make to generate new contagious stories or […]

As the COVID-19 pandemic spreads fiercely across the world, the overwhelming impact is having negative effects on individuals, friends, and communities. Tracking the number of confirmed cases as at 2 April 2020, the virus has affected 203 countries, 946,875 cases and 48,135 deaths, while 202,888 have recovered, according to the World Health Organization (WHO). There […]

Nigerian National Petroleum Corporation (NNPC) said on Monday it would no longer cap the price at which fuel is sold in the country in the form of subsidy payment or under-recovery cost. In a tweet via its official handle on Monday, the state-owned oil company quoted Mele Kyari, its group managing director, as saying, “As […]

Community transmission is fast emerging the fastest way of transmitting the coronavirus disease, accounting for 45 percent of new infections in Lagos currently, Akin Abayomi, Lagos State commissioner for health, said on Monday. Abayomi said imported cases are decreasing as cases involving those who have returned from abroad are now 54 percent of infections. He […]

The Federal Government has confirmed that it is in discussion with Innoson and two other automotive firms who had expressed desire to manufacture the much-needed ventilators to fight the coronavirus pandemic. Niyi Adebayo, minister of industry, trade and investment, who disclosed this to journalists in Abuja on Monday, said Innoson had specifically sent in a […]

Dangote Cement plc, Africa’s leading cement manufacturer, is seeking to raise up to N100 billion in fresh funds from the bond market under its NGN300 billion Debt Issuance Programme. According to the investor presentation document prepared by the company and themed ‘Building Prosperity in Africa’, the funds from the  debut offering in the bond markets […]

Six new cases of coronavirus have been reported in Nigeria. Of the new cases recorded; 2 in Kwara, 2 in Edo, 1in Rivers and 1 in the FCT.

UK Prime Minister Boris Johnson has admitted to intensive care with coronavirus symptoms. “Since Sunday evening, the Prime Minister has been under the care of doctors at St Thomas’ Hospital, in London, after being admitted with persistent symptoms of coronavirus. A spokesperson for No.10 said: “Over the course of this afternoon, the condition of the […]

UK Prime Minister Boris Johnson has admitted to intensive care with coronavirus symptoms. “Since Sunday evening, the Prime Minister has been under the care of doctors at St Thomas’ Hospital, in London, after being admitted with persistent symptoms of coronavirus. A spokesperson for No.10 said: “Over the course of this afternoon, the condition of the […]

The UK Prime Minister Boris Johnson has been moved into intensive care unit at a London hospital. This is just breaking and more details to come later

The UK Prime Minister Boris Johnson has been moved into intensive care unit at a London

Nigeria’s hope of raising dollar denominated cash in the euro-bond market to finance its deficit may have finally hit the rocks as rating agency, Fitch downgraded the country’s long-term foreign currency issuer default rating (IDR) to ‘B’ from ‘B+’ with a negative outlook citing external and fiscal pressures. The new rating by Fitch is at […]

Nigeria has a lot of lessons to learn from the coronavirus outbreak, one of which is that it needs to build an economy with strong buffers….

Nigeria has so far gotten $1.4 million United States Dollars from the Nigerian-UN Covid -19 basket Fund launched on Monday to combat…

Funke Akindele-Bello, popular Nollywood actress, and her husband Abdulrasheed Bello have been sentenced to 14-day community service for…

The federal government has made an official request to the International Monetary Fund  (IMF) to release its $3.4bn contributions to enable it tackle the …

Nigeria will no longer cap the price at which fuel is sold in the country in the form of subsidy payment or under recover cost, Mele kyari, Group Managing Director of the Nigerian National Corporation (NNPC) said.

Nigeria will source some $150m from the Sovereign Wealth Fund (SWF) to fund June Federal Accounts Allocation Committee (FAAC) as the country it battles severe income shortage on account of ravaging impact of Covid-19 as well as oil price war between Russia and Iran. Zainab Ahmed, Minister of Finance, Budget and National Planning announced this […]

Fitch Ratings has downgraded Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B’ from ‘B+, citing the country’s precarious monetary an

Deterioration in macroeconomic conditions brought on by the coronavirus pandemic and a sharp drop in crude oil price could force…

History The virus SARSCOV-2 is now known the world over as the cause of the pandemic disease known as COVID-19. The effect of the virus was first noted in Wuhan, China, in December 2019. A pattern of illness characterized by fever, cough, difficulty in breathing, severe weakness and body pains as well as a variety […]

 South Africa’s Denel will design and develop medical ventilators in partnership with other state-owned entities, research bodies and medical technology companies to help treat coronavirus patients, the state arms and technology company said on Sunday.   Governments and hospitals globally have pleaded with manufacturers to speed up production of ventilators to cope with a surge […]

Oil gave up some of last week’s rally after a delay to a planned meeting of top producers to discuss output curbs and signs the U.S. won’t join any deal raised doubts over the prospects for an agreement. West Texas Intermediate declined 3.9% to $27.23 a barrel on the New York Mercantile Exchange as of […]

Prime minister Boris Johnson has been admitted to hospital for tests as his coronavirus symptoms persist, Downing Street said Sunday night. A spokesperson for No.10 said: “On the advice of his doctor, the prime minister has tonight been admitted to hospital for tests. “This is a precautionary step, as the prime minister continues to have […]

One of the pharmaceutical firms leading the global race for a cure for the deadly Coronavirus outbreak, Gilead Sciences, says more than one

Three of Germany’s biggest banks – Deutsche, Commerzbank, and KfW – have expressed an interest in providing financing to support the Siemens power deal with the Nigerian government, BusinessDay has learnt, even as the deal is fraught with teething challenges. Abba Kyari, chief of staff to President Muhammadu Buhari, Sale Mamman, minister of power, and their […]

The Nigerian Stock Exchange (NSE) All Share Index as at market close on March 31 recorded its single biggest monthly decline in five years as the bourse shed about 4,915 points in the month, outpacing the selloffs experienced during the economic recession in 2016. The biggest monthly decline on record remains October 2008 when the […]