Business

Bitcoin Jumps 12% as Trump’s Election Odds Rise

Published

1 month ago

October 18, 2024

Bitcoin has jumped 12% recently as Donald Trump’s odds of winning the presidential election have risen since mid-September. Many investors are excited about the idea of Trump, known for his support of cryptocurrencies, becoming president, believing it could benefit the crypto market. Currently, Bitcoin is trading at $66,857, close to its all-time high.

Trump’s odds hit a low on September 18 but have since improved, making him more favorable among bettors than Kamala Harris. Investor Stanley Druckenmiller noted that the market seems confident in a Trump win, which is also affecting bank stocks and cryptocurrencies. Analyst Gautam Chhugani predicted Bitcoin could reach $90,000 if Trump wins, as the election results could greatly impact the crypto industry.

However, while Trump’s betting odds have increased to 62%, recent polls show the election is still very close, with no clear favorite. This difference has led to speculation that a single large bettor may be trying to influence Trump’s odds by placing significant bets on platforms like Polymarket.

Related Topics:Bitcoin Business Cryto Donald Trump

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Business

Dangote Petroleum Refinery Begins Exportation Of Products To Neighbouring West African Countries

Published

20 hours ago

November 20, 2024

Ese Ohwofa

Dangote Petroleum Refinery begins exportation of products to neighbouring West African countries. A report was made that the Dangote refinery just shipped gasoline to the coast of Togo, West Africa. Although the shipment of the gasoline is going to the coast of Togo it can also be taken somewhere else in West Africa.

Chairman of NPA, Ghana speaks at the OTL Africa Downstream Oil Conference in Lagos states that importing from Nigeria reduces prices and freight costs for them rather than importing from Europe.

“If the refinery reaches 650,000bpd a day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria and I believe that will bring down our prices,”

Business

FBN Shareholder Approve #350 Billion Capital Raise And Rebrand

Published

3 days ago

November 18, 2024

Ese Ohwofa

FBN Holdings shareholders approve the plan of raising #350billion in additional capital and also changing its brand name. These discussions happened in the Annual General Meeting (AGM) and were submitted to the Nigerian Exchange Limited.

The Shareholders also approved of a dividend payment of 40 kobo per 50 kobo ordinary share, which will result to #14.36 billion for 2023 financial year.

This capital raise will include issuing shares, private placements or right issues concluded and approved by the board of directors. It will align with the initiate to raise #150 billion issues by the Central Bank of Nigeria.

Business

CBN and Finance Ministry Share Concerns Over Investment and Securities Proposed Bill

Published

7 days ago

November 14, 2024

Ese Ohwofa

Concerns have been raised by The Central Bank of Nigeria (CBN) and the Ministry of Finance, concerning the Investment and Securities Bill which was proposed. The bill aims to replace 2007 Act and to update capital market regulations.

The CBN representative, Dr Tukur at the National Assembly hearing, opposed to the granting of the Securities and Exchange Commission over the public companies.

The Finance Minster, Wale Edun also emphasize on the impact of the bill and the provision it will offer the SEC board members. However the SEC Director General defended the bill and stated it has a benefitting role in Nigeria’s capital market globally.