FG, through CREDICORP, has introduced the SCALE programme to empower Nigerians with loans to acquire affordable cars, generators, food, electronics and more.
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Music and gaming help Sony hike net profit forecast
Sony raised its annual net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in video games and music, as well as image sensors used in iPhones. Yasuo Nakane of Mizuho Securities said before the earnings announcement that Sony could log a record high profit this year for its image sensors.
Swiss mining giant Glencore drops plan to exit coal
Swiss commodities giant Glencore announced Wednesday that it had decided against spinning off its coal business for now after consulting shareholders who view the polluting fossil fuel as a cash-generating activity. The Swiss mining and commodities trading group had considered merging the newly acquired business, Elk Valley Resources, with its own coal activities and spinning it off.
Sony hikes annual net profit forecast after solid Q1
Sony raised its full-year net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in its video game, music and image sensor sectors. Sony may also see record profits next year in the gaming sector under new leadership, he said in a recent note.
Asian stocks extend recovery, yen weakens as some calm returns
Asian stocks rose again Wednesday as some stability returned after a volatile start to the week, though Tokyo saw more big swings and the yen weakened further as analysts warned more upheaval could be in store. The yen also weakened further to more than 146 per dollar, having hit less than 142 Monday, its strongest in six months.
Saudi delivery drivers bake in 'deadly' summer heat
Sheltering under a palm tree in Saudi Arabia's capital, a Pakistani delivery driver stole a quick break during the lunch rush when orders -- and scorching temperatures -- are at their peak. "Working in Saudi Arabia's scorching midday sun poses severe health risks to delivery workers.
US trade gap narrows less than expected in June
The US trade deficit narrowed slightly less than analysts anticipated in June, according to government data released Tuesday, helped by an uptick in exports. The figure was helped by a bigger uptick in exports than imports, with the former rising 1.5 percent to $265.9 billion.
Forex inflow in FMDQ declines by 16.5% in one week as naira gains
Foreign exchange inflows into the official market declined by 16.5%, according to data obtained from the FMDQ Exchange, where the dollar is traded officially.
Tokyo's Nikkei index closes up 10.2% after previous day's record fall
Tokyo's key Nikkei index closed more than 10 percent higher Tuesday, bouncing back from a record selloff the previous day on worries over the US economy and a stronger yen. Among major shares in Tokyo on Tuesday, Honda roared 14.70 percent to 1,435.5 yen following a report that it was expected to announce a record quarterly profit.
Saudi Aramco Q2 profit dips 3% as output stays low
Saudi oil giant Aramco on Tuesday reported net income of $29.07 billion in the second quarter, a slight drop from the same period last year as output remained subdued. But the cash cow saw its profits drop by a quarter last year because of lower oil prices and production cuts, and profits in the first quarter of this year were down 14.5 percent.
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