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Survey: 17% Enterprises Still Closed Due To COVID-19 Effect
The National Bureau of Statistics has revealed that about 17 percent of non-farm enterprises have remained shut due to the adverse effect of COVID-19 as of December 2020. The NBS disclosed this in its ‘COVID-19 impact monitoring report’ for November/December 2020. Part of the report read on non-farm enterprise read, “Even with respondents back at…
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Iran Cracks Down On Crypto Trading
Iran is yet another country to ban crypto exchanges again based on ideas that bitcoin might further cause the devaluations of Iran’s currency. Mojtaba Tavangar, the head of the Digital Economy Commission of Iran’s hardline parliament, wrote a letter to President Hassan Rouhani, his ministers and the Central Bank of Iran calling for a complete…
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Here Are Eight Countries That Have Banned Crypto Exchange
As bitcoin recently hit a $1 trillion market cap at $54,000 per coin, many crypto traders might be unable share in the wins as few countries have ordered the ban of crypto exchange in local banks and currencies. TwentyTen Daily brings you eight countries where cryptocurrency trading has been banned. ChinaThe People’s Bank of China,…
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Expert: How Nigeria GDP Could Hit $1.5 Trillion In 2030
According to Bismarck Rewane, foremost economist, Nigeria could attain $1.5trn Gross Domestic Product (GDP) by 2030, if it attracts both domestic and international capital to achieve a gross domestic product level. Rewane, the Chief Executive Officer of Financial Derivatives Company, said achieving this level will lead to an accelerated, sustainable and inclusive growth for the…
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COVID-19: 58 Percent Of Households Reduced Their Feeding
A survey by the National Bureau of Statistics has shown that 58 percent of households in the country reduced their food consumption during the pandemic. It revealed that between June to December 2020, household reduced their feeding in order to cope with shocks caused by COVID’19. According to the Bureau, this and other strategies adopted…
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Lego Sales Surged 21% During The Pandemic
New reports reveal that the sale of Lego sets surged last year as more children stayed home during global pandemic lockdowns. The privately-held Danish company said its net profit rose 19 percent to 9.9 billion kroner ($1.6bn) as sales jumped 21 percent. Its presence grew in its 12 largest markets during the pandemic as families…
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In 10yrs, Nigeria Unemployment Grew By Over 400 percent
According to data collected from the National Bureau of Statistics, the unemployment rate of Nigeria has grown by 445 percent in the last 10 years. While the nation still combats economic instabilities within the year in view, the expectation by different governments to reduce unemployment has failed as the data obtained shows a steady increase…
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Hope For Increase In Box Office Sales As New York Reopens Cinemas
Authorities recently announced that New York City cinemas could reopen on March 5 after nearly a year owing to the global pandemic. The coronavirus pandemic drove down box office sales by more than 70% globally last year – and more than 80% in the US and Canada, historically the world’s biggest market. Unfortunately, dozens of…
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The US Records 1.9% Rise In Trade Deficit Despite Trade War With China
The Biden’s administration has recorded a commendable win as new reports details the record-breaking rise in goods importation in January that pushed the trade deficit 1.9 percent higher despite Covid-19. The gap between imported goods and exported goods rose to $68.2bn from $67bn in December, the US Department of Commerce reported Friday. Exports rose 1…
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CBN Introduce N5 for $1 Rebate
Nigeria’s Apex Bank has introduced a rebate of ₦5 for every $1 of funds remitted to Nigeria, through International Money Transfer Organisations in its new forex policy. The Central Bank Governor, Godwin Emefiele, who disclosed in a virtual event at its inaugural webinar on the impact of the new forex policy on diaspora investments, said…