PROSHARE ECONOMY

FG Plans Supplementary Budget Over Rising Inflation, Depreciation - The Federal Government may present a supplementary budget to the National Assembly due to a further depreciation of the naira and galloping inflation that have made the 2023 budget nearly unrealistic. Source Punch Read More

PROSHARE MARKETS

Investors Loss N25.23bn as NGXASI declines by 0.10%; Overnight Rate Contracts by 0.17% to Close at 8.83%; BDC Depreciates to 880 - The NGX All-Share Index declined by 0.10% to close at 44,236.7basis points as against 1.23% loss recorded previously to close at 44,283.02 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N25.23bn loss. YTD, the NGXASI Stands at +3.56%. Source Proshare Research Read More

Bank of England Increased Rate to 3% in November 2022, up by 0.75% - The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. Source Bank of England Read More

Federal Reserve Issues FOMC Statement and Implementation Note from Its November 2022 Meeting - Russia's war against Ukraine is causing tremendous human and economic hardship. The war and related events are creating additional upward pressure on inflation and are weighing on global economic activity. Source Federal Reserve Read More

PROSHARE BUSINESS

Fidelity Bank Partners Invest Africa to Showcase the Best of Nigeria’s Non-Oil Exports - In line with its strategic intent to always provide solutions and business support for its customers, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity International Trade and Creative Connect (FITCC) in partnership with Invest Africa. Source Fidelity Bank Read More

New Naira Notes to Be Printed Locally, Says CBN - There is no plan to print the proposed new naira notes outside Nigeria, a Central Bank of Nigeria (CBN) Board member has said. Source The Nation Read More

FG mulls Chinese, Portuguese loans to complete railways - The Federal Government is multi-billion dollar loans from Chinese, Portuguese, and Turkish financial institutions to complete ongoing rail projects across the country, Transport Minister Mu’azu Sambo, told the Senate. Source Punch Read More

PROSHARE TECHNOLOGY

Yabx Enters Nigeria Market, Aims to Double and Diversify Business Growth in Africa - Plans to introduce new age fintech solutions around digital lending in the country; Will help banks to launch new and innovative products for new-to-credit segment like Buy Now Pay Later, Personal Loans, Payday loans, MSME loans etc. Source Yabx Read More

PROSHARE FINANCE

Prudent Estate Planning - Protecting your assets during your life and ensuring that they are transferred to your intended beneficiaries without unnecessary costs after your death requires an informed combination of tax and asset management with professional estate planning. Source Coronation Read More

PROSHARE MSME

UBA Underscores Support for SMEs, Maintains Headline Sponsorship of 2022 Lagos International Trade Fair - Africa’s global bank, United Bank for Africa (UBA) Plc has reiterated the importance it places on supporting the growth of Small and Medium Scale Businesses as the bank will once again be the headline sponsor of the 2022 edition of the Lagos International Trade Fair (LITF). Source UBA Read More

FRC to Spearhead Project on Anti-Corruption Framework For SMEs - The Financial Reporting Council (FRC) says it has collaborated with the Convention on Business Integrity (CBi) and the United Nations Global Compact Network Nigeria (UNGC-NN) to launch a small and medium enterprise (SME) anti-corruption and corporate governance standards project. Source TheCable Read More