Markets articles


‘Only 43% of Nigerians are banked’

‘Only 43% of Nigerians are banked’

According to the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nnamdi Okonkwo, who lamented the 43 per cent figure, banks must develop innovative solutions that will bring those outside the banking space to embrace financial institutions services and products. Only about 43 per cent of Nigeria’s estimated 180 million people are currently

Chinese J-20 stealth fighter jets fly past during a military parade at the Zhurihe training base in China's northern Inner Mongolia region in July. AFP Contributor/AFP/Getty Images

China Announces Largest Military Spending Increase in 3 Years

China on Monday announced the largest increase in three years to its defense budget, saying it would spend 8.1 percent more than the previous year as the country continues a push to modernize its military and expand its air and naval capabilities. However, the official Xinhua news agency reports that the latest budget — made

FILE - A Bitcoin logo is shown at a Bitcoin trading store, Dec. 21, 2017.

Cryptocurrency Newcomers Cope With Wild Swings

After researching digital currencies for work last year, personal finance writer J.R. Duren hopped on his own crypto-rollercoaster. Duren bought $5 worth of litecoin in November, and eventually purchased $400 more, mostly with his credit card. In just a few months, he experienced a rally, a crash and a recovery, with the adrenaline highs and

FILE - The logo for U.S. Steel appears on a screen above the trading floor of the New York Stock Exchange.

Trump Defends Threats of Tariffs, Saying ‘Trade Wars are Good’

President Donald Trump Friday defended his threat to impose steep tariffs on steel and aluminum imports, saying potential trade conflicts can be beneficial to the United States. “When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win,”

FILE - A man holds a token bearing the symbol of a cryptocurrency at his shop in Sandy, Utah. The tiny Marshall Islands is creating its own digital cryptocurrency in order to raise hard cash to pay bills and boost the economy.

Hoping to Raise Real Cash, Marshall Islands Creates Virtual Money

MAJURO, MARSHALL ISLANDS — The tiny Marshall Islands is creating its own digital currency in order to raise some hard cash to pay bills and boost the economy. The Pacific island nation said it became the first country in the world to recognize a cryptocurrency as its legal tender when it passed a law this


Foreign Investments Rise 138.7% to $12bn

The total capital importation into the country, comprising of both Foreign Direct Investments (FDI) and Foreign Portfolio Investments (FPI), more than doubled in 2017, surging by 138.7 percent year-on-year (YoY) to $12.2 billion from $5.1 billion recorded in 2016, a pointer to the soaring confidence of foreign investors in the Nigerian economy. National Bureau of

oil rig

Curb Your Enthusiasm

The Eastern Mediterranean energy patch is hot — unfortunately, in more ways than one. An oil rig in the Tamar field off Israel’s coast in 2013. It was the first major find in the Eastern Mediterranean and will supply natural gas for export to Egypt. (Noble Energy) With a spate of new deals and discoveries


What Do Stock Market Fluctuations Mean For The Economy?

Stock market prices as measured by the S&P 500 reached an all-time peak on January 26. Less than two weeks after the peak, stock prices plunged more than 10 percent, erasing about $2.6 trillion of wealth. For purposes of comparison, the drop in stock market values represented a bit less than one-seventh of last year’s