Home Financial Top Business & Finance News Headlines For Today, Saturday, 18th March, 2023

Top Business & Finance News Headlines For Today, Saturday, 18th March, 2023

by Akinruli Tolulope

1. Rising poverty may hinder SDGs achievement, says ECA boss

The acting Executive Secretary of the Economic Commission for Africa, Mr Antonio Pedro, has said the achievement of the Sustainable Development Goals may be hanging if poverty in Africa continues to increase…read more

Source: https://punchng.com/rising-poverty-may-hinder-sdgs-achievement-says-eca-boss/

2. Completed Lagos real estate projects fall 14% –Report

Real estate development activities in Lagos, the country’s commercial hub, plunged by 14 per cent in 2022 as a result of heightened election uncertainty, currency challenges and inflation, an Intel report said…read more

source: https://punchng.com/completed-lagos-real-estate-projects-fall-14-report/

3. FG gives subsidies to mini-grid developers

The federal government has announced plans to award subsidies to mini-grid developers for the deployment of solar power mini-grids to 150 underserved and unserved electricity sites across seven states…read more

Source: https://punchng.com/fg-gives-subsidies-to-mini-grid-developers/

4. MTN to merge finance subsidiaries

MTN Nigeria has proposed the merger of its two finance subsidiaries – Momo. Payment Service Bank Limited and Yello Digital Financial Services Limited. This was revealed in its proposed resolutions for its 2023 Annual General Meeting scheduled to hold in April…read more

Source: https://punchng.com/mtn-to-merge-finance-subsidiaries/

5. The SVB debacle has exposed the hypocrisy of Silicon Valley

So one day Silicon Valley Bank (SVB) was a bank, and then the next day it was a smoking hulk that looked as though it might bring down a whole segment of the US banking sector. The US government, which is widely regarded by the denizens of Silicon Valley as a lumbering, obsolescent colossus, then magically turned on a dime, ensuring that no depositors would lose even a cent. And over on this side of the pond, regulators arranged that HSBC, another lumbering colossus, would buy the UK subsidiary of SVB for the princely sum of £1…read more

Source: https://www.theguardian.com/commentisfree/2023/mar/18/the-svb-debacle-has-exposed-the-hypocrisy-of-silicon-valley-bank

6. Bank runs, bailouts, rescues: are the ghosts of 2008 rising again?

No one in the Treasury had expected March to be easy. Last Monday’s economics-heavy review of defence and foreign policy, and last Wednesday’s budget, meant that a tough week for its mandarins was already priced in. But none of them had expected to have to sell a bank for £1…read more

Source: https://www.theguardian.com/business/2023/mar/18/bank-runs-bailouts-rescues-are-the-ghosts-of-2008-rising-again

7. Rail strikes cause fresh disruption in Great Britain this weekend

Rail travel around Great Britain will be severely disrupted again this weekend after the second 24-hour strike in three days started on Saturday morning…read more

Source: https://www.theguardian.com/uk-news/2023/mar/18/rail-strikes-travel-great-britain-rmt-lner-avanti-lner-avanti

8. Trump deregulated railways and banks. He blames Biden for the fallout

When a fiery train derailment took place on the Ohio-Pennsylvania border last month, Donald Trump saw an opportunity. The former US president visited East Palestine, accused Joe Biden of ignoring the community – “Get over here!” – and distributed self-branded water before dropping in at a local McDonald’s…read more

Source: https://www.theguardian.com/us-news/2023/mar/17/donald-trump-railways-banks-deregulation-blames-biden

9. 2023: Traders snub elections in Bayelsa, storm markets for business

Some voters in Yenagoa, the Bayelsa State capital, on Saturday refused exercising their civic rights as the election gets underway nationwide…read more

Source: https://www.vanguardngr.com/2023/03/2023-traders-snub-elections-in-bayelsa-storm-markets-for-business/

10. How Nigeria rose 24 spots on ‘ease of doing business’ index

An expert in property law, Prince O. Williams-Joel, Managing Partner, Prince Joel & Associates, has said the rising prominence of credit bureaux and the increased sophistication of the identity authentication system—SIM card, Bank Verification Number, BVN, and National Identity Number, NIN, among others contributed to Nigeria’s 24 spots jump in the Ease of Doing Business Index…read more

Source: https://www.vanguardngr.com/2018/03/nigeria-rose-24-spots-ease-business-index/

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