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Six Months Of Sacrifice: Hong Kong’s Protesters Take Stock

December 6, 2019 3:51 pm

Some of them have lost their jobs, suffered life-changing injuries and even fled overseas. But six months into Hong Kong’s demonstrations, pro-democracy protesters say they aren’t backing down.

The unprecedented movement was born on June 9, when an estimated million people took to the streets to protest a proposed bill allowing extradition to mainland China.

With Beijing taking a hard line, it has since broadened into a call to halt authoritarian China’s attempts to erode freedoms in the city.

Six months on, the Beijing-backed government has offered few concessions and protests have turned increasingly violent, exacting a heavy toll.

AFP/File

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Stock Market Loses ₦12 Billion

December 6, 2019 2:02 am

Losses in ACCESS (-2.7%), FBNH (-2.2%) and GUARANTY (-9.1%) have seen market capitalisation fell ₦12.0bn to ₦12.9trn at the close of trading on the floor of the Nigerian Stock Exchange (NSE) yesterday. Consequently, the development dragged the All-Share Index (ASI) down 9bps to 26,913.70 points while year to date (YTD) loss worsened to -14.4%.

Activity level strengthened as volume and value traded rose 83.1% and 164.2% to 206.7m units and N2.8bn respectively. The top traded stocks by volume were UACN (40.2m units), ACCESS (28.3m units) and GUARANTY (27.7m units) while GUARANTY (N837.7m), ZENITH (N484.6m) and NIGERIAN BREWERIES (N435.3m) led …

Nigerian Stock Exchange List Union Bank ₦30bn 10Yrs Bond

October 19, 2019 3:05 am

The Nigerian Stock Exchange (NSE) last Friday listed the Union Bank of Nigeria Plc’s ₦30 billion 10-Year, 16.2 per cent Subordinated Unsecured Fixed Rate Series 3 Bonds Due 2029.

The bond was issued by the financial institution under its ₦100 billion debt issuance programme and its listing will create liquidity for holders who want to trade the security. The bond is expected to boost the performance of the bank going forward.

Union Bank of Nigeria had reported profit before tax (PBT)of ₦18.7 billion for the half-year ended June 30, 2019, showing an increase of four percent from ₦11.7 billion in …

Danger Looms; Nigeria’s Debt Stock Rises To ₦25.7 trillion

October 17, 2019 1:50 am

The nation’s debt profile rose from ₦24.95 trillion to ₦25.7 trillion in the last three months. One year ago, it was ₦22.38 trillion.

The development showed that between April and June, the country’s obligations rose by ₦750 billion, and increased by ₦3.32 trillion when compared with the debt figures as of June 30, 2018.

Government has, so far, paid more than ₦800 billion in servicing the multiple obligations, which cut across domestic and foreign deals in the first half of 2019.

Total domestic debts stood at ₦17.38 trillion, with the Federal Government having more than three-quarters of the stockpile. These …

NSE, Luxembourg Stock Sign MoU To Expand Green Bond Market

October 10, 2019 12:50 am

The Nigerian Stock Exchange (NSE) and the Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to promote cross-listing and trading of green bonds in Nigeria and Luxembourg.

The MoU was signed by the Chief Executive Officer (CEO) of the NSE, Mr. Oscar Onyema and CEO of LuxSE, Mr. Robert Scharfe, during the annual meeting of the World Federation of Exchanges in Singapore yesterday.

NSE said in a statement that the MoU further established an agreement for the two exchanges to collaborate with a view to sharing best practises and organising joint initiatives in their respective markets.

Commenting, …

EFCC investigates MTN’s listing on stock exchange

May 26, 2019 12:36 am

MTN Nigeria yesterday said that it was being investigated by the Economic and Financial Crimes Commission (EFCC) over the listing of its shares on the Nigerian Stock Exchange (NSE).

In a statement posted on the exchange web site by MTN Nigeria Communications, Company Secretary, Uto Ukpanah, confirmed the investigation.

The statement said the company received a letter on May 23 from EFCC requesting information and documentation related to the listing of its shares on the NSE.

“MTN Nigeria has not been accused of any wrongdoing by the EFCC. We wish …