A former UBS trader goes on trial in London this week in a case involving losses of $2.3 billion (1.4 billion pounds) that will subject the Swiss bank to an “uncomfortable” examination of its culture and practices. Investment banker Kweku Adoboli, who was arrested a year ago when the huge […]
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BAGCO to Delist from Stock Exchange
The Nigerian Bag Manufacturing Company Limited (BAGCO), listed on the Nigerian Stock Exchange (NSE) in 2007, will be delisted from the Nigerian bourse.The delisting will follow a merger of the company with its parent firm, Flour Mills of Nigeria Plc. In a notification to the NSE last week, Flour Mills […]
FDC Predicts Interest Rate Slash to 11.75%
With exactly one week to the next monetary policy committee (MPC) meeting, Financial Derivatives Company Limited (FDC) has predicted a 25 basis points reduction in the Monetary Policy Rate (MPR) to 11.75 per cent from 12 per cent. MPR, the benchmark interest rate is the rate at which the Central […]
