China Slowdown Weighs Heavily on the Market
The markets opened this week with freshly disappointing news from China showing manufacturing levels have slowed for the third consecutive month. The HSBC and Markit purchasing managers index showed a reading of 48.1 in March, with anything below 50 indicating contraction. This was the lowest reading in eight months and signals the second largest economy […]
Nigeria Will Be 15th Largest Economy in the World by 2050 – Jim O’Neill
Nigeria is on track to becoming the 15th largest economy in the world by 2050, said Mr Jim O’Neill, a former Chairman of Goldman Sachs Asset Management. O’Neill said Nigeria could achieve this feat if its large population actively participates in economic development. O’Neill made the prediction at the ongoing 20th Nigerian Economic Summit in […]
Market Instability Boosts Safe Haven Assets
The market has started the week with inherent risk aversion primarily linked to the uncertainty around the Ukraine-Crimea crisis and the concerns that the West will impose heavy sanctions on Russia. With the weekend’s referendum condemned as illegal by the US and the EU, the markets reflected their concerns regarding instability in the region with […]
Market Looks to US Jobs Data for Indications of Economic Recovery
The market opened Monday under a cloud of risk aversion with the ongoing Ukraine and Russia tensions and uncertainty depressing the market. Investors shifted their focus to safe haven assets, such as gold and the Japanese yen; the latter also benefiting from carry trade opportunists and strengthening to a three day high as a result. The risk aversion […]
European Central Bank Under Pressure to Loosen Eurozone Monetary Policy
The European Central Bank (ECB) President Mario Draghi takes the spotlight this week as the market’s attention turns to Friday’s Consumer Price Index data release for the 18-member Eurozone state. Volatility is expected in the market around Friday’s announcement, especially because January’s reading of 0.7% shocked the market confounding expectations for a rise to 0.9%. […]
Disappointing Jobs Data Puts US Recovery Under Pressure
The market is still reeling from Friday’s Non-Farm Payrolls (NFP) data announcement where only 113,000 new jobs were created in January, much less than was forecast. The low number was partially attributed to the unseasonably cold weather of the past few months; however there was good news in the form of the unemployment rate that […]
By 2050, Nigeria will be 13th, on World Economic Rankings, PWC Says
One of the big four global accounting firms, Price Waterhouse Coopers (PWC), has released its extended 2013 study, titled – World in 2050 The BRICs and Beyond: Prospects, challenges and opportunities – which also includes projection on Vietnam, Nigeria, South Africa, Malaysia, Poland, Saudi Arabia and Argentina. BRIC is an acronym for Brazil, Russia, India […]