Author: Olu Anisere

Oil Prices Edge Higher as Ships Stuck in Waterway Oil prices edged higher on Thursday as shipping disruptions in the Strait of Hormuz and escalating Israeli strikes on Lebanon heightened concerns over regional supply, despite a temporary ceasefire. Investors signal concerns that crude oil supply from the key Middle East producing region may not fully resume amid doubts that the two-week ceasefire between the U.S. and Iran will hold. International benchmark Brent crude futures traded at $97.03 per barrel, up around 2.4% from the previous close of $94.75. US benchmark West Texas Intermediate (WTI) rose about 3.3% to $97.48 per…

JSE Index Rises 3.96% as Global Risk Appetite Improves The Johannesburg Stock Exchange (JSE) rebounded strongly on Wednesday as global risk appetite improved sharply following reports of a conditional ceasefire in the Middle East and signs of progress toward reopening the Strait of Hormuz. Risk appetite improves with some positioning as investors see easing global macro and energy supply risks. Hence, the All-Share Index closed 3.96% higher, while the Top 40 gained 4.16%. Resources led the charge and rose about 4.68%, buoyed by a sharp rally in gold and PGM stocks, with AngloGold Ashanti (+6.27%), Gold Fields (+4.65%), Northam Platinum…

Gov. Alex Otti of Abia says his administration will approve the erection of monuments in honour of the heroines of the 1929 Aba Women’s uprising and other historic women in the state.

The average yield fell as Nigerian Eurobonds rallied in the international market on Wednesday, boosted by foreign investors’ appetite for the country’s reforms and improved macroeconomic data.

Gov. Abba Yusuf of Kano State has paid N32 billion out of N48 billion gratuity backlogs of retirees inherited in 2023. Yusuf disclosed this on Wednesday in Kano during the inauguration of the sixth tranche of payments to retirees in the state.

The naira appreciated against the US dollar on Wednesday, trading at N1371 as the Central Bank’s daily FX publication showed a sharp increase in interbank FX deals.

Greece to Ban Social Media Access for Children Under 15 in 2027 Greek Prime Minister Kyriakos Mitsotakis said Greece will ban children under the age of 15 from accessing social media starting Jan. 1, 2027. In a social media post, Mitsotakis said the decision followed extensive discussions with parents and young people, many of whom expressed concerns over sleep disruption, increased stress and excessive mobile phone use among children. “The scientific evidence is clear: when children spend long hours in front of screens, the brain does not rest,” adding that the government had decided to proceed with “a difficult but…

Naira Official Rate Weakens as Foreign Reserves Pull Back The naira’s official rate weakens due to FX liquidity shortages, as data from the Central Bank showed a sharp decline in interbank turnover and fewer deals. Still, the exchange rate outlook remains positive, though external reserves have continued their downward trend, falling by $712 million, in contrast to the oil-windfall-linked projection. The new week saw the Naira at the Nigerian Foreign Exchange Market (NFEM) close on a negative note, depreciating by 42bps or ₦5.86 against the U.S. Dollar. The depreciation followed the previous week’s negative performance and was driven by renewed…

With Brent down 15%, oil prices retreated sharply on Wednesday due to the U.S.-Iran temporary ceasefire, which could pave the way for negotiations to end Middle East tensions.

The Nigerian Exchange (NGX) topped N130 trillion in market cap on Tuesday as investors gained N208 billion. The local bourse performance was boosted by fresh bargain hunting in financial stocks, with FirstHoldco gaining about 10%, and GTCO rose more than 2%.