NIGERIA NEWSPAPERS: TODAY’S BUSINESSDAY NEWSPAPER HEADLINES [28 JUNE, 2018].

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Bears break correlation between equities, oil prices
Thu, 28 Jun 2018
The strong positive correlation between the Nigerian Stock Exchange (NSE) All share Index (ASI) and crude oil prices finally broke this year as investors sentiment turned bearish in the Nigerian stock market despite a rally in oil prices.

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The divergence began to emerge in early March as volatility hit Emerging Markets as traders worry about trade war tensions between the world’s two biggest economies (USA and China) and a scenario of accelerated tightening by the Federal Reserve.
Crude oil prices have rallied this year by around 12 percent off the back of supply disruptions in Libya and Venezuela. However, the ASI which initially rallied in early January is now down -0.73 percent year to date.
Traditionally, the Brent crude oil price has been a signal for predicting future changes in the stock market performance in Nigeria.
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NNPC JV stake sale to boost NSE by N13trn
Thu, 28 Jun 2018
The possibility of Nigerian National Petroleum Corporation (NNPC) listing its stake in the nine International Oil Companies (IOCs) it currently has Joint Venture arrangements with, could boost total equities market capitalization of the Nigerian stock exchange (NSE) by N13 trillion. According to the 2016 NNPC oil and gas report, the government has Joint Venture… The post NNPC JV stake sale to boost NSE by N13trn appeared first on BusinessDay : News you can trust.
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Nigeria eyes $2.8bn Eurobond to finance 2018 budget
Thu, 28 Jun 2018
The Federal Government through the Debt Management Office (DMO) intends to raise up to $2.8 billion (N899bn) in Eurobonds, as part of its plan to finance the 2018 budget, and will explore all options to lower costs, the head of the Debt Management Office Patience Oniha (DMO) told Reuters. The DMO said it has sent… The post Nigeria eyes $2.8bn Eurobond to finance 2018 budget appeared first on BusinessDay : News you can trust.
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Again, US urges Buhari to stop incessant killings
Thu, 28 Jun 2018
Following Sunday’s killing of over 100 citizens in Plateau State by suspected herdsmen, the Ambassador of the United States of America to Nigeria, W. Stuart Symington, has called on the Federal Government to stop the increasing killing of innocent people across the country in order to ensure peace and development of the country. The envoy… The post Again, US urges Buhari to stop incessant killings appeared first on BusinessDay : News you can trust.
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Banks pay N131.5bn as AMCON charge
Thu, 28 Jun 2018
Assets Management Corporation of Nigeria (AMCON) Charge incurred by Nigerian banks have increased in the last two years although an expected slowdown of growth in total assets could pave the way for another hike by the regulator. Lenders currently pay a charge of 0.5 percent of assets to the fund which is controlled by… The post Banks pay N131.5bn as AMCON charge appeared first on BusinessDay : News you can trust.
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Afreximbank, ECIC announce $1bn programm to promote trade in Africa
Thu, 28 Jun 2018
The African Export-Import Bank (Afreximbank) and the Export Credit Insurance Corporation of South Africa SOC Limited (ECIC) have launched a 1 billion dollar financing programme to expand trade and investments between South Africa and the rest of Africa. Mr Obi Emekekwue, the bank’s Director and Global Head, Communications and Events Management Department, said on Wednesday… The post Afreximbank, ECIC announce $1bn programm to promote trade in Africa appeared first on BusinessDay : News yo
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CBN meets forex demand with $210m
Thu, 28 Jun 2018
The Central Bank of Nigeria (CBN)on Tuesdaymade available the sum of $210million, to meet customers’ requests in various segments of the inter-bank foreign exchange market. The CBN, in its quest to meet demands in the various segments of the market offered $100million to authorized dealers in the wholesale segment of the market, while the Small… The post CBN meets forex demand with $210m appeared first on BusinessDay : News you can trust.
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Will cut in MPR reduce commercial banks’ lending rate
Thu, 28 Jun 2018
Ahead of the next Monetary Policy Committee meeting in July, several analysts have agitated for a cut in the monetary policy rate, since the rate at which goods and services are sold is increasing slowly at 11.6 percent and gradually getting closer to the Central Bank target of a single digit. According to them, the… The post Will cut in MPR reduce commercial banks lending rate’ appeared first on BusinessDay : News you can trust.
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ECOWAS single currency unlikely before 2020 deadline, says ECA
Thu, 28 Jun 2018
The United Nations Economic Commission for Africa(ECA), said the attainment of all macroeconomic criteria by ECOWAS states maybe unattainable before the 2020 deadlinefor the commencement of the region’s single currency agreement. Mr Amadou Diouf, an Economist from ECA West Africa said this on Wednesday in Cotonou in a presentation at the 21st Session of the… The post ECOWAS single currency unlikely before 2020 deadline, says ECA appeared first on BusinessDay : News you can trust.
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10 ships arrive Lagos ports with petrol and other commodities
Thu, 28 Jun 2018
No fewer than ten ships carrying petrol and other products are waiting to berth at Lagos ports, the Nigerian Ports Authority (NPA) said in Lagos on Wednesday. It said four of the vessels were carrying petrol and the remaining six; aviation fuel, bulk sugar, soya beans, diesel and fertilizer. The NPA stated that 32 other… The post 10 ships arrive Lagos ports with petrol and other commodities appeared first on BusinessDay : News you can trust.
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Agencies offer ‘$100,000’ funding for research on diseases endemic to Africa
Thu, 28 Jun 2018
The African Academy of Sciences (AAS), University of Cape Town (UCT) Drug Discovery and Development Centre (H3D), Medicines for Malaria Venture (MMV) and the Bill & Melinda Gates Foundation are offering $100,000 in funding per project for the discovery of new drugs for diseases endemic to Africa over the next two years. The new funding… The post ”Agencies offer ‘$100,000’ funding for research on diseases endemic to Africa appeared first on BusinessDay : News you can tr
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FG hails 46 years of Peugeot automobile resilience in Nigeria
Thu, 28 Jun 2018
Secretary to the Government of the Federation, Boss Mustapha,WednesdayhailedPeugeot Association of NigeriaLimited(PAN) for remaining resilient, active andstill keeping to the standard of good model in automobile industry, especially in Nigeria for the past 46 years. Mustapha gave the commendation when hereceived the newly reconstituted Board of Directors of PAN Nigeria Limited led by its chairmanMohammed… The post FG hails 46 years of Peugeot automobile resilience in Nigeria appeared first on
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ICT deployment Act seen transforming healthcare system in Nigeria
Thu, 28 Jun 2018
A policy framework to deploy information communication technology (ICT) backed by an act of the national assembly will improve healthcare delivery in Nigeria, experts have said. This is because dearth of information and communication technology (ICT) is slowing down service delivery, making Nigeria’s healthcare system lose out on advanced medical technologies with grave consequences for… The post ICT deployment Act seen transforming healthcare system in Nigeria appeared first on BusinessD
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Disbursement of N231bn power intervention fund not yielding result
Thu, 28 Jun 2018
Federal lawmakers, regulatory agencies and other stakeholderson Wednesdayexpressed grave concerns over the disbursement of N231 billion to Electricity Distribution Companies, Generation companies and Gas companies without commensurate results in the power supply to consumers across the country. They expressed the concerns during the investigative public hearing into Excessive electricity charges being levied on consumers by… The post Disbursement of N231bn power intervention fund not yielding
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Codeine, Tramadol ban not enough ‘ psychiatrist tells FG
Thu, 28 Jun 2018
The Association of Resident Doctors (ARD), Federal Neuro-Psychiatric Hospital (FNPHY), Yaba, Lagos, has taken mental health education to the Ojuelegba Motor Park, notorious for drug abuse in the state. The education was in commemoration of the International War Against Drug Abuse and Illicit Trafficking Day (IWADAITD) held annually on June 26. The President of the… The post Codeine, Tramadol ban not enough ‘ psychiatrist tells FG appeared first on BusinessDay : News you can trust.
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Oil marketers express concern over disruption to loading at Ejigbo depot
Thu, 28 Jun 2018
The Independent Petroleum Marketers Association of Nigeria (IPMAN), on Wednesday expressed concern over disruption to loading at Ejigbo Satellite Depot by Pipelines Products Marketing Company (PPMC) in the last three weeks. Alhaji Ayo Alanamu, the Chairman of Ejigbo Satellite depot told the News Agency of Nigeria (NAN), in Lagos that the disruption to loading at… The post Oil marketers express concern over disruption to loading at Ejigbo depot appeared first on BusinessDay : News you can trust
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Nervous investors still afraid to accumulate stocks
Thu, 28 Jun 2018
Many investors at the Lagos Bourse are still afraid to buy more stocks, even as Nigeria’s mucky political climate causes equities prices to downtrend. While market watchers expected the Nigerian Stock Exchange (NSE) to sustain early week’s (Monday) gain, it rather extended loss lineon Wednesdayas evident in the position of the Bourse’s benchmark index. Amid… The post Nervous investors still afraid to accumulate stocks appeared first on BusinessDay : News you can trust.
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