Today’s exchange rate between the Naira and the US dollar closed at N416 per dollar. This represents an increase of 1.2% on the previous day’s rate. The Naira has continued to strengthen against the dollar since June 19. However, the Naira has weakened against the dollar in the unofficial market, closing at N446 today. On …
Exchange rate gains as forex turnover records boost Read More »
Stock futures jumped on Monday morning. They rose, following the S&P 500’s worst week in a long time, more precisely since March 2020, as investors awaited more corporate earnings results as well as a key policy decision from the central bank. U.S. stocks declined on Friday. Notably, the Nasdaq Composite was hit the hardest with …
Stock Futures Strengthened Their Positions on Monday Read More »
Stocks in Asia-Pacific declined on January 21, tracking declines on Wall Street overnight. In the meantime, oil prices plunged from the 2014 highs earlier in the week, falling about 2%. In Japan, the Nikkei 225 dropped 0.9% to end its trading day at 27,522.26. The Topix fell 0.59% to close at 1,927.18. On January 21, …
Oil prices declined on Friday, after rising to seven-year highs this week. Oil prices fell on Friday after an unexpected rise in U.S. crude as well as fuel inventories and as investors took profits. On Friday, Brent crude futures dropped $1.49 or 1.6% to $86.89 by 10:10 GMT. It earlier declined by as much as …
Implants that could help paralyzed people to walk have already passed through the test on a macaque and a pig. The billionaire entrepreneur’s brain chip startup is ready to launch human clinical trials. Musk co-founded Neuralink in 2016. He has promised that the technology will enable paralyzed people to use a smartphone with their minds …
Musk’s brain chip available for clinical trials in humans Read More »
The U.S. currency was relatively stable on Thursday as traders took a break from the recent series of positive economic news. Besides, the Treasury market paused to digest a busy week of trading. A report from the Labor Department showed that wages grew at their fastest rate, suggesting that the labor market is strengthening. Meanwhile, …
Oil prices fell on Thursday. Prices declined on indications of rising U.S. stocks and as investors took profits after a recent price rally, but robust demand and short-term supply disruptions continue to support oil prices close to their highest since 2014. Brent crude futures dropped 45 cents or 0.5% to $87.99 a barrel by 12:42 …
Several days ago, an underwater volcano erupted in Tonga. Unfortunately, the eruption caused strong waves and currents in many places, including Peru. The country demanded compensation from the Spanish oil giant Repsol after waves from a volcanic eruption in Tonga caused an oil spill described as the worst ecological disaster to hit Peru in recent …
How Peru Plans to Deal With the Worst Ecological Disaster Read More »
Amazon decided to open a real-world clothing store later this year. It announced on Thursday that the first Amazon clothing store would open its doors later this year. The store’s location is in the Los Angeles suburb of Glendale, California. The store will offer women’s and men’s clothes, footwear, and accessories. These clothes will be …
Amazon to open a clothing store with high-tech fitting rooms Read More »
On Thursday, a small blank-check firm supported by state investor Temasek made its debut, marking the first such local listing as Singapore steps up a drive to emerge as a key venue for listings of this type. Vertex’s debut came four months after Singapore Exchange allowed special purpose acquisition companies (SPACs) or shell firms to …
On Wednesday, the U.S. dollar fell while remaining well-supported as investors prepared for an interest rate increase in March. U.S. 10-year Treasury yields reached a new two-year high of 1.903% on Wednesday. However, it was last down four basis points at 1.8272%. In afternoon trading, the U.S. dollar index fell by 0.4% at 95.528. Bond …
U.S. dollar weakens while keeping a positive outlook Read More »
The pandemic devastated various industries all over the world. Nevertheless, the wealth of the world’s ten richest men doubled from $700 billion to $1.5 trillion since the beginning of the pandemic. In total, billionaires added trillions of dollars to their fortunes during the pandemic, according to Oxfam. Oxfam’s new report contains many interesting details about …
Billionaires Earned a Lot of Money During the Pandemic Read More »
The yen fell on Tuesday as U.S. Treasury rates soared to near two-year highs. The Bank of Japan reaffirmed its commitment to maintaining the ultra-loose monetary policy. Hence, higher yields had little impact on the greenback’s value versus other currencies. Following the result of the BOJ meeting, the dollar rose 0.37 percent against the yen …
Yen on the fall, BOJ remains uncertain,U.S. yields on a rise Read More »
European stocks declined on Tuesday as global investors remain attuned to the policy direction of the Federal Reserve. They are also waiting for the corporate earnings season. The pan-European Stoxx 600 declined 1.2% by late morning, with tech and travel stocks each dropping 2.2% to lead losses. In terms of individual share price movement, Auto1 …
European as well as Asian Stocks Suffered Losses Read More »
Coal has a huge impact on the environment, and countries are trying to get rid of it as soon as possible. Despite its impact, China heavily relies on coal. In 2021, China’s coal production reached record levels as the government encouraged miners to ramp up their fossil fuel output to protect China’s energy supplies through …
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