Several major banks are set to lose billions of dollars over links to the hedge fund Archegos, after financial troubles at the firm sparked a massive sell-off of shares.
Nomura and Credit Suisse have said they will suffer significant losses, which caused their share prices to plunge on Wall Street on Monday. Archegos was backed by former star trader Bill Hwang. Also today, we look at how the wine industry in Argentina has seen rising sales during the pandemic.
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As Africa’s manufacturers await liberalised market for free tradeSince 2020, the COVID-19 pandemic has become the key alibi for inaction of many governments in addressing key economic and developmental issues. Though the pandemic impacted the integration goals of the AfCFTA, stakeholders believe that the lethargic reactions of African leaders towards opening up their borders and liberalising trade leaves much to be desired. Indeed, three major issues are believed to be affecting the AfCFTA in its initial phase. First, the negotiation on the Rules of Origin seems endless. Several members were unwilling to ratify all the articles of agreement. Liars! Once a Nigerian politician!!🤥 With everything you're seeing with your korokoro eyes, no money, no fuel, cost of living rocketing high, insecurity, Atiku stepping down, Tinubu campaign against APC, you still want to vote for them? Tufiakwa May God forbid Lazerd to start growing hairs. Vote for Peter Obi
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Again, fire guts building at Balogun marketBarely one week, another building at the popular Balogun Market in the Lagos Island area of Lagos State has been gutted by fire on Thursday. Please this is the photo of the one that happened last week… Why always balogun... People's businesses gone. May God help us Absolutely true
Source: MobilePunch - 🏆 8. / 63 Read more »
Petrol price fuels anger in Edo, protesters blame black marketWhen the broadcast heralding the protest against the hike in fuel prices in Edo State was made through several online platforms on Sunday, the residents of Benin City knew what to expect on January 30, the day set aside by the civil society organisations for the protest.
Source: MobilePunch - 🏆 8. / 63 Read more »
Bullish Run Continues As Equities Market Rises By N271bnThe domestic equities market yesterday advanced by N271 billion, as investors continue to digit a flurry of full year corporate earnings released on the
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Naira falls to N756/$ at parallel market amid high FX demand | TheCableThe naira, on Friday, tumbled to N756 per dollar at the parallel section of the foreign exchange market. It will hits 1k before election. This is bad, It was only 744 a few days back. I thought Emefiele's no cash policy was to give the naira some more value? What a sad turn of things. GodwinIEmefiele how far nau, what's the essence of the policy
Source: thecableng - 🏆 2. / 80 Read more »