Tectono Business Review, Business, Cryptocurrency, Blockchain, Real Estate, Automobile, Properties for Sale, Cars for Sale. (Our Contact: +2348067876251,)
After lowering interest rates twice in
2019, investors across all asset classes are awaiting the FOMC rate decision
when it wraps up its two-day meeting on Wednesday.
The Nigerian economy still remains on a
rocky road to recovery in the face of depressed oil prices, US-China trade
uncertainty and fears over decelerating global growth.
Traders across the globe were eagerly
anticipating the opening of forex markets this morning and Sterling, following
Saturday’s House of Commons (non-) vote on the Brexit deal. The initial
reaction to delaying the vote on the withdrawal agreement dragged the Pound
slightly lower to around 1.29 at the time of writing.
The Lagos Chamber of Commerce and Industry has signed a memorandum of
understanding with Oxford Business Group
(OBG) on its plans to drive Nigeria’s non-oil growth.
In order to achieve its quest of
becoming the biggest independent exploration and production company, Seplat Petroleum Development Company Plc
has perfected plans to acquire Eland Oil
and Gas Plc for N174.2bn (£382m).
The Pound soared towards the 1.30 level
against the US Dollar, after UK Prime Minister Boris Johnson and European
Commission President, Jean-Claude Juncker both announced that a Brexit deal has
been reached.
Asian stocks and currencies are mixed,
as the post-trade truce bounce is losing steam. Investors are now weighing up
their next steps after the news of the “very substantial” phase one deal, as
touted by US President Donald Trump.
Standard Chartered Bank Nigeria Limited
is fully owned by Standard Chartered Plc, a
British group. Standard Chartered Plc is listed on the London, Hong Kong and
Mumbai stock exchanges.