PwC warns fiscal collapse looms amid Nigeria’s debt addiction
Post AMUGE
July 1, 2024
Onome Amuge The growing reliance on debt instruments by the Nigerian government without corresponding increases in revenue-generating investments could have detrimental effects on the country’s economic outlook in the long run, according to analysis by PricewaterhouseCoopers (PwC). PwC, in a recent report titled “Nigeria Economic Outlook: Navigating Economic Reforms”, observed that the imbalance between government […]
Fitch sees promising prospects for Nigeria’s fiscal, economic outlook
Post AMUGEMay 7, 2024
Long-term FX creditworthiness ‘positive’ Affirms long-term FX IDR at ‘B-’ On back of recent reforms Onome Amuge Global credit rating agency Fitch Ratings has shined a positive light on Nigeria’s long-term foreign-currency creditworthiness, upgrading its outlook to “Positive” and affirming the country’s long-term foreign-currency Issuer Default Rating (IDR) at ‘B-’, a sign that the […]
India outpaces China, becomes fastest growing major economy
Businessam StaffJune 3, 2018
The Indian economy grew at its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector and construction, pulling further ahead of China. The economy grew 7.7 percent year-on-year in the three months period from January to March 2018, outpacing China’s growth rate of 6.8 percent and confirming India as […]
‘Industry inequality’ may emerge as world’s businesses invest in new tech, research shows
Businessam StaffMay 4, 2018
Companies investing in robotics, among other digital technologies, are seeing productivity and profits increase, but the cost involved risks creating an even wider gap between the world’s top companies and their smaller rivals, leading to an ‘industry inequality’ new research shows. According to a report by the World Economic Forum and Accenture based on a […]
Credit flows to riskier sectors may lead to severe economic downturn – IMF Study
Businessam StaffApril 16, 2018
The odds of a severe economic downturn are higher when a growing portion of credit flows to riskier firms, according to a new International Monetary Fund (IMF) study, the Global Financial Stability Report seen by business a.m. The study, according to IMFBlog of April 10, 2018, indicates that a buildup of lending to relatively less […]
Global water tariffs need rise 5.9% a year to achieve SDG, GWI report shows
Businessam StaffApril 12, 2018
Water tariffs globally will need to increase 5.9 percent each year in order to generate the $449 billion of annual investment required to achieve the Sustainable Development Goal (SDG) on water and sanitation between 2018 and 2030 and maintain existing infrastructures, a new market report has found. The report, published by Global Water Intelligence (GWI), […]
Global central banks set for huge shift as technology advances- Barclays
Businessam StaffApril 12, 2018
Advances in technology and huge shifts in the way society functions mean that the way central banks operate will fundamentally change in the coming years, according to one of Barclays’ most senior economists. Christian Keller, the bank’s head of economics research, while speaking Tuesday at the launch of Barclays’ annual Equity Gilt Study, said that […]
Kenya economy growth to recover 5.5% in 2018 from 4.8% in 2017-World Bank
Businessam StaffApril 11, 2018
World Bank has projected Kenya’s GDP growth to recover 5.5% in 2018 up from an estimated 4.8 percent in 2017. Over the medium term, economic activity is expected to gain momentum, steadily rising to 6.1 percent by 2020, according to the Bank’s 17th Kenya Economic Update (KEU) launched in Nairobi. The positive outlook is underpinned […]
India overtakes Japan, becomes 2nd largest producer of crude steel
Businessam StaffApril 5, 2018
In a major achievement, India overtook Japan to become the second largest producer of crude steel in Feb 2018. India’s crude steel production was up 4.4 percent and stood at 93.11 million tons for the period April 2017 to February 2018 (prov) as compared to April 2016 to Feb 2017. At present China is the […]
Tech innovation fueling world growth
Businessam StaffMarch 30, 2018
Technological innovation is believed to almost certainly be the key driving force behind long-term global economic growth, and its use has been strongly linked to market transformation, more robust international trade and improved living standards, analysts said at a Thursday conference in Beijing. China’s push to carve a niche for itself in global technology leadership […]