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Business Naira Stable, Ghana Cedi Declines 0.5% to 3.96/USD At Inter-Bank Market
Nigerian naira on Friday remain stable at 316 to a United States dollar at the inter-bank market, over a month the Central Bank of Nigeria removed peg on it. The currency 3 month non-deliverable forwards also moved to -0.1% to 350.5 per US dollar. Ghana Cedi on the other hand, declined 0.5% to...- ProfRem
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Business Uber to Merge With Chinese Rival Didi in $35Bn Deal
Uber is set to merge its China unit with rival Chinese ride hailing service Didi Chuxing, in a deal that would value the combined company at $35 billion. Didi will buy Uber’s brand, business and data in the country, the Chinese company said in a statement. Uber Technologies and Uber China’s...- ProfRem
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Business CBN Raises Interest Rate From 12% to 14%
The Central Bank of Nigeria, monetary policy committee has raised interest from 12% to 14%, the Apex bank governor , Gofwin Emefiele told reporters in Abuja. The committee also voted to retain cash reserve ratio at 22.5% and left the asymmetric corridor around MPC retained at +200 basis...- ProfRem
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