NEWSROOM|MARCH 4, 2020

 

bloomberg3

The G-7 Held a Call on the Virus and Only the Fed Did Anything Read more at: https://www.bloombergquint.com/global-economics/the-g7-held-a-call-on-the-virus-and-only-the-fed-did-anything?utm_campaign=website&utm_source=sendgrid&utm_medium=newsletter Copyright © BloombergQuint


Central banks have ‘far less ammunition’ to save the global economy from coronavirus – CNBC

CORONA2

Central banks around the world, including the U.S. Federal Reserve, have lowered interest rates to support their respective economies amid a rapidly spreading coronavirus — and more are expected to follow suit


Joe Biden is the front-runner again after he shocked the world on Super Tuesday – CNBC

JOE BIDEN

One of the most intriguing races of Super Tuesday involved the Senate. Jeff Sessions, the former Trump attorney general, is trying to get his old seat back. But before he can think about challenging vulnerable Democratic Sen. Doug Jones this November, he has to go through Tommy Tuberville first. Sessions and the former Auburn football coach were the top two vote-getters in the state’s GOP Senate primary, but neither hit 50%, so they’ll face each other once more in a runoff election on March 31. – Calia


CBN directs firms to adopt e-payment for salaries – GTI-PUNCH

CBN agric loan

The Central Bank of Nigeria has directed firms with more than 20 employees to implement electronic payment system for the payment of their employees’ salaries and other obligations. Deposit Money Banks have been notifying their customers with business accounts of this development through mails.


11 Plc set to delist from NSE – GTI/PUNCH

mobil

The board of directors of 11 Plc says following its meeting held on February 27, it has approved the proposal for the oil firm to voluntarily delist from the Nigerian Stock Exchange.


South Africa enters recession, again Nigeria emerges Africa’s biggest economy – GTI/PUNCH

bloomber 31

Bloomberg reported on Tuesday that the answer to the question of whether South Africa or Nigeria was the biggest economy on the continent had long depended on which exchange rate you use for the West African nation.


NSE demutualisation holds these 3 benefits for shareholders – BUSINESS DAY

NSE Oscar-N.-Onyema

Nigerian shareholders are few steps away from joining their peers in 56 other Exchanges globally who are reaping the reward of a demutualised bourse as members of Nigerian Stock Exchange (NSE) have assented to demutualisation. The NSE members passed requisite resolutions for the demutualisation of the Exchange at a Court Ordered Meeting (COM) and an…


Nigerian banks squeezed by 40% effective CRR -BUSINESS DAY

cbn logo

Nigerian banks are having to park so much money with the Central Bank that it may scuttle a lending surge that some economists predict would give the economy a much-needed boost. Sources tell BusinessDay that the effective Cash Reserve Ratio (CRR) for banks in Africa’s largest economy is between 40-50 percent even though the official…


Reps ask NEPC to target 35% non-oil exports – GTI/PUNCH

nepc

The House of Representatives has asked the management of the Nigerian Export Promotion Council to redouble its efforts toward improving non-oil revenue.


The 10-year Treasury yield just dropped below 1% for the first time in history -CNN

investment oppor

The 10-year Treasury bond yield dropped below 1% for the first time in history on Tuesday, as investors grew increasingly worried about the novel coronavirus outbreak.


Federal Reserve announces first emergency rate cut since the financial crisis – CNN

Bank of America

The Federal Reserve slashed interest rates by half a percentage point on Tuesday, a bold attempt to give the US economy a jolt in the face of concerns about the coronavirus outbreak.

 

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