Analysts: Nigeria may return to Eurobond market in 2021

Amidst foggy global economic realities caused by the coronavirus (Covid- 19) pandemic-induced crisis, analysts at Coronation Research have said that Nigeria will likely return to the Eurobond market next year. The analysts, who made the prediction in a note obtained Business Metrics, argued that Nigeria’s position was better than those of some other African countries, such as Zambia and Angola, which have recently sought to restructure private -sector debt, including Eurobonds. The analysts noted that although there was a rise in Eurobond yields a fortnight ago, with Zambia’s 2027 Eurobond…

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Bitcoin Miners Witness 11% Revenue Drop in September

Coin miners gain in September

As price rallies back to $10,515 $281 million KuCoin Theft Suspects Identified ________________________________________ Bitcoin miners generated an estimated $328 million in revenue in September, down 11% from August, according to Coin Metrics data analyzed by CoinDesk. The moderate decrease in revenue came as bitcoin (BTC) stumbled through September, closing the month down 8% after gaining over 25% through July and August. Revenue estimates assume miners sell their BTC immediately. Network fees brought in $26 million in September, or just over 8% of total revenue, down 2 percentage points from fees…

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Global stocks rise as signs of Trump’s improving health calm markets

Global Stocks NYSE Trump

Stock markets rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook global bourses in the previous session. Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday. That helped U.S. S&P 500 e-mini futures rise 0.82% in Asian trading, while Nasdaq futures gained 1.11%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose…

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Bureau De Change business not as lucrative as perceived, Gwadabe reveals

Bureau De Change business not as lucrative as perceived, Gwadabe reveals

Bureau De Change (BDC) business in Nigeria is not as profitable as many people often think it is, Alhaji Aminu Gwadabe, president of Association of Bureau De Change Operators of Nigeria (ABCON) has revealed. According to him, the operators earn just N2 gain from every dollar sold, which indicates that at the current rate of N467 per $1 in the parallel market (Lagos), operators earn just 0.43 per cent of the transactions they make. He stated: “The N2 margin earned by BDCs from every dollar sold is barely enough to…

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25% job cuts: Strike threatens Chevron’s operations in Nigeria

25% job cuts: Strike threatens Chevron's operations in Nigeria

The National Union of Petroleum and Natural Gas and the Petroleum and Natural Gas (NUPENG) Senior Staff Association of Nigeria have directed their members in Chevron Nigeria Limited (CNL) to commence a total shutdown of the company’s operations over the sack of Nigerian employees. In a statement jointly signed by Prince Williams Akporeha, the President of NUPENG, and his PENGASSAN counterpart, Mr Festus Osifo, the unions said, “Chevron management was using the COVID-19 pandemic as an excuse to ease out Nigerian workers from the company while it continued to engage…

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