Europe Top News and Analysis Nigeria

  • LAGOS, Nigeria— Nigeria's Central Bank has banned nine local banks from trading in foreign exchange, accusing them of withholding $2.1 billion in government funds and "round-tripping" to profit from a devalued naira currency. The Central Bank on Tuesday said it would punish banks accused of withholding the money belonging to the state oil company that was to be...

  •  Couple dealing with issues, sadness

    A Fed rate hike is looking more likely for September. And that's just one of the headwinds facing the stock market in the fall, says John Kilduff.

  •  Iran oil plant under construction with Iran Flag

    Iran is sending positive signals that it may support joint action to prop up the oil market.

  • Peshmerga soldiers standing guard as smoke and flames billow from oil silos following an attack by militants on a gas facility in Iraq's northern Kirkuk province on July 31, 2016. Gunmen travelling on motorbikes opened fire on the gas facility's guards, then killed four of its employees and planted multiple bombs before escaping, officials from Iraq's North Oil Company and the Kurdish peshmerga forces said.

    The investment bank reckons that the recovery remains tenuous due to signs that disruptions in Nigeria, Iraq and Libya are easing.

  • Famed weather prognosticating groundhog Punxsutawney Phil. An early spring was predicted as Phil did not see his shadow.

    Though some predict oil will rise to $60 this year, consultant Andy Lipow says the market is acting more like the movie "Groundhog Day."

  • JOHANNESBURG, Aug 22- Hotel and gaming group Sun International has become the latest South African business to pull out of Nigeria because of weak economic growth and clashes with regulators and shareholders in the west African country. In January, Nigeria's Economic and Financial Crimes Commission launched a probe into Sun International's initial...

  • JOHANNESBURG, Aug 22- Hotel and gaming group Sun International became the latest South African business to pull out of Nigeria because of weak economic growth and clashes with regulators in the west African country. In January Nigeria's Economic and Financial Crimes Commission launched a probe into Sun International's initial investment in the Tourist...

  • LAGOS, Aug 18- Nigerian oil minister Emmanuel Ibe Kachikwu said on Thursday that while a cut in OPEC production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude prices. But he cast doubt on any plans by members of the Organization of the Petroleum Exporting Countries to voluntarily reduce their output at the meeting...

  • OPEC crude oil production hit an eight-year peak in July, but may fall this month amid turmoil in major member countries, UBS said on Tuesday.

  • Villagers mill about the dirt streets of the impoverished village of Akaraolu, Nigeria while the two-hundred-foot tall Oshie gas flare looms constantly in the background.

    How much is known about smaller oil nations that play a role in lubricating the world with crude?

  • An Iraqi labourer works at an oil refinery in the southern town Nasiriyah.

    Here's why oil prices are dropping and won't recover anytime soon, says John Kilduff.

  • LAGOS, July 29- Nigeria's central bank has injected more than 100 billion naira into Skye bank after sacking the lender's top management this month for failing to meet minimum capital requirements, its new managing director said on Friday. Adetokunbo Abiru also said Skye, Nigeria's eighth-largest bank, made a pre-tax loss last year, due to oil-related bad loans...

  • LAGOS, July 29- Breaking the central bankers' taboo on use of the' p-word', Nigeria's Godwin Emefiele is urging people not to panic about the banking system, saying he is on top of any trouble resulting from the worst crisis in Africa's biggest economy for decades. Non-performing loans are expected to jump to 12.5 percent of total loans this year, up from the central...

  • Workers pour cocoa beans into a floor trap for cleaning and micronizing at the Olam Cocoa factory on Friday, May 13, 2016.

    If you've ever had a McDonald's burger, there is a very good chance the onions in it were supplied by Olam.

  • LONDON, July 26- Emerging market stocks dug in at nine-month highs on Tuesday ahead of a flurry of central bank meetings, including a possible rate hike in Nigeria where the recently unshackled naira was bobbing at a record low. Hungary, which has been emerging Europe's top performing market again this year, was also holding a rate meeting as was more turbulent...

  • NAIROBI- Central bank of Kenya monetary policy meeting- 0000 GMT. TUESDAY, JULY 26 JOHANNESBURG- South African Finance Minister Pravin Gordhan speaks at Nedbank group's annual investment summit on "the role of business in securing a more prosperous and inclusive future for all South Africans"- 0700 GMT. ANKARA- Turkey central bank to publish quarterly inflation...

  • *Nigeria likely to raise rates to 13.00 pct on Tuesday. JOHANNESBURG, July 22- Nigeria's central bank is likely to raise interest rates on Tuesday in an attempt to curb soaring inflation and attract foreign capital, but it runs the risk of triggering a recession, a Reuters poll showed on Friday. Even so, the median forecast from a Reuters poll of 13 analysts taken July...

  • FRIDAY, JULY 22 BEIJING- Chinese Premier Li Keqiang will hold a roundtable with World Bank President Jim Yong Kim, International Monetary Fund Managing Director Christine Lagarde, World Trade Organization Director-General Roberto Azevedo, International Labor Organization Director-General Guy Ryde, Organization for Economic Cooperation and...

  • THURSDAY, JULY 21 JAKARTA- Indonesia central bank rate decision- 0700 GMT. PRETORIA- South African Reserve Bank rate decision- 1300 GMT. MONDAY, JULY 25 JERUSALEM- Bank of Israel interest rate decision- 1300 GMT.

  • WEDNESDAY, JULY 20 BEIJING- World Bank Group President Jim Yong Kim to visit China. THURSDAY, JULY 21 JAKARTA- Indonesia central bank rate decision- 0700 GMT. PRETORIA- South African Reserve Bank rate decision- 1300 GMT.