The naira depreciated to the lowest in almost a week as the Central Bank of Nigeria offered fewer dollars at an auction, offsetting its decision to hold the key lending rate at a record high to support the currency. The currency of Africa’s biggest oil producer fell 0.2 percent to […]
Author: InvestAdvocate
Chinese solar producer Suntech declares bankruptcy
Suntech, one of the world’s biggest solar panel manufacturers, was forced in bankruptcy court Wednesday, becoming the latest casualty of a painful slump in the global solar industry. Suntech Power Holdings Ltd. said eight Chinese banks asked a court to declare it insolvent after the company missed a $541 million […]
Cut Rate to Halt Further Economic Decline-Analysts
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Analysts at Afrinvest West Africa has called on the Monetary Policy Committee (MPC) to cut in the Monetary Policy Rate (MPR) in order to prevent the economy from further decline as revealed in the Gross Dometsic Product (GDP) figures. According to the Research Note from […]
