PROSHARE ECONOMY
Capital Importation Declines to $1.53bn Q-o-Q as Naira Continues to Slide - Capital Importation data released by the National Bureau of Statistics (NBS) showed that Nigeria attracted a total of $1.53bn in capital inflows in Q2 2022. The data suggested a slight decline in quarterly capital imports reflecting the impact of the fall in the Naira at the parallel market. Source AbdulQudus Isiaka and Oreoluwa Albert Read More
Oil Markets Spooked by China’s Lockdowns - OIR 020922 - Crude prices bounced on Friday, recuperating some losses as China's COVID lockdowns become the main narrative in oil markets again. Source Tom Kool of Oilprice Read More
Resource Curse Sees Oil Rally Bypassing Nigeria - The surge in oil prices this year should have been great news for Nigeria. Yet, Africa’s biggest crude producer, which relies on the fuel for more than 80% of its export earnings, saw output slump in the second quarter - just when prices peaked. Source Bloomberg Read More
India Review of Economic, Population and ESG - India's GDP data is classed as C grade in the World Economics Data Quality Rating scale. Essentially not to be trusted. Source World Economics Read More
PROSHARE MARKETS
Flour Mills of Nigeria Plc Q1 2023 Results: Growth in Revenue & Rising Debt Stock - Flour Mill's share price reached its resistance level on May 13, 2022, climbing from N29.0k to N41.45k before falling to N30.50k on July 28, 2022. Source Proshare Research Read More
What to Expect from the Markets this Week - 050922 - Nigeria’s Purchasing Managers’ Index (PMI) reading for August fell to 52.3 in August, down from 53.2 in July. The figure signals another improvement in business conditions, although expansion was softer than the series average. Source Proshare Content Research Read More
PROSHARE BUSINESS
Airlines, NCAA Bicker Over N24bn Debt - The Nigeria Civil Aviation Authority (NCAA) and the Airline Operators of Nigeria (AON) are at loggerheads over a N24billion debt being owed aviation agencies by operators. Source Daily Trust Read More
Nigeria to Pay $496 million to Settle Indian Firm’s Claim Over Ajaokuta Steel - The Nigerian government says it has agreed to pay $496 million to settle a multibillion dollar claim by Global Steel Holdings Limited over the control of Ajaokuta Steel Company. Source Premium Times Read More
OPEC+ to Weigh Rollover or Small Cut At Monday Meeting, Sources Say - OPEC+ is likely to keep oil output quotas unchanged for October at a meeting on Monday, five OPEC+ sources said, although some sources would not rule out a small production cut to bolster prices that have slid due to fears of an economic slowdown. Source Reuters Read More
PROSHARE TECHNOLOGY
A Continued Nigerian Capital Market Leadership Position is Dependent on its Adoption of DLT – Survey Report - In a yet to be released survey report titled: The Distributed Ledger Technology (DLT) and the Nigerian Capital Market, researchers at Sophus Consulting Limited assessed the advent of digitalization in Nigeria and produced a report relying on the responses to its surveys. Source Proshare Content Read More
ICPC: Technology Key to Curbing Corruption, Illicit Financial Flows - The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, (SAN), has identified the deployment of technology as crucial to the fight against corruption and Illicit Financial Flows (IFFs). Source THISDAYLIVE Read More
NCC says over 50,000 Telecom Infrastructure were Vandalized in 5 Years - The Nigerian Communications Commission (NCC) said over 50,000 cases of major destruction to telecom infrastructure and facilities have been reported across the country in the past five years, raising an alarm over the implication of these incidents to the quality of telecommunications services. Source TechEconomy Read More
PROSHARE FINANCE
Why Non-Interest Financial Institutions Should Invest in Women - The Non-Interest Financial Institutions can significantly empower women in Nigeria through innovative products and investment opportunities for them. Source Bukola Akinyele-Yisau Read More
SEC Nigeria Approves Trust Arthur’s Rebranding as a Non-Interest Asset Management Company - As part of its regulatory mandate of creating a fair, transparent, and efficient non-interest finance market in Nigeria, the Securities and Exchange Commission has approved the rebranding of the corporate name “Trust Arthur” as an A NON-INTEREST ASSET MANAGEMENT COMPANY. Source Trust Arthur Read More