Author: Lucas

As local oil refiners in Nigeria complain of persistent crude shortages, the country exported an estimated 306 million barrels of crude oil between January and October 2025, according to figures from the Central Bank of Nigeria. The data reveal that while Nigeria produces substantial volumes of crude, the bulk of it is earmarked for export, leaving domestic refineries struggling to obtain adequate feedstock. On several occasions, the Dangote Petroleum Refinery has complained of low crude supply despite the naira-for-crude deal, prompting it to source feedstock from the United States and even from neighbouring countries like Ghana and others. Similarly, the…

If you own car insurance, you’ve roughly a 10% chance of claiming on it in a given year, according to statistics from the Financial Conduct Authority (FCA).But despite those relatively low odds, claiming is where your policy will genuinely be put to the test. Consequently, how well a prospective insurer treats claimants should be a core consideration when you’re shopping around.   To help, we’ve surveyed 3,464 car insurance claimants. Here we show you which insurers are best when it comes to handling claims, which claims you’re most and least likely to make, and the importance of getting a fair claims…

To curb speculative activity in the derivatives market, Finance Minister Nirmala Sitharaman announced a sharp hike in Securities Transaction Tax (STT) on futures and options in Budget 2026, presented on February 1.In Budget 2026, the STT on futures was raised from 0.02% to 0.05%. The tax on option premiums was increased from 0.10% to 0.15%, while the STT on option exercise was also raised from 0.125% to 0.15%, making derivatives trading costlier across the board.STT is a direct tax levied on the purchase or sale of securities, including stocks, derivatives, and mutual fund units, on exchanges. In effect, it’s a…

Growth in the UK’s manufacturing sector accelerated last month with demand from the US and China helping lift export sales for the first time in four years, new survey data shows.The S&P Global UK manufacturing PMI survey, watched closely by economists, showed a reading of 51.8 in January, up from 50.6 in December.This was the highest score since August 2024 and above earlier estimates for the sector.Any reading above 50 indicates that activity is growing while any score below means it is contracting.Manufacturing output rose for the fourth month in a row, with last month’s acceleration linked to improved export sales,…

As global defense spending increases amid ongoing geopolitical tensions, companies such as AeroVironment, Inc. AVAV and L3Harris Technologies, Inc. LHX are drawing greater investor interest. Rising investments in unmanned systems, satellite communications, space hardware, cyber defense and advanced weapons are creating favorable conditions for both companies.AeroVironment specializes in unmanned aerial systems and also provides space-qualified hardware designed for operations in geosynchronous, medium and low Earth orbits, as well as cislunar missions. In contrast, L3Harris is a diversified defense contractor with strong capabilities in communications, space systems, electronic warfare and tactical networks. Its larger operating scale allows it to deliver integrated…

The chart for gold might look pretty scary after last week’s plunge, but JPMorgan says investors shouldn’t bail on the yellow metal. Gold prices plunged on Friday after President Trump nominated Kevin Warsh to lead the Federal Reserve. The volatility continued on Monday, but JPMorgan thinks it’s just a stumble on the path to a much bigger year-end price.The investment bank updated its 2026 price target for gold to $6,300 per ounce, a roughly 34% increase from its late Monday price of about $4,700. The forecast might seem overly optimistic given what happened on Friday, but the bank’s Gregory Shearer…

Digital transformation specialist Nexer Enterprise Applications has appointed Matt Birtwistle as manufacturing industry lead, strengthening its consultancy capability within the manufacturing sector. Matt joins Nexer from HSO, where he spent more than seven years advising on complex Microsoft ERP and digital transformation programmes for large, highly regulated manufacturing organisations.  He brings more than 30 years’ experience across manufacturing sub-sectors including engineering, chemicals, food and beverage, life sciences and automotive, alongside long-standing experience within the Microsoft partner ecosystem. In his new role, Matt will lead Nexer’s manufacturing strategy, focusing on winning new manufacturing clients, expanding relationships with existing customers and ensuring…

Copper cathodes produced by Nornickel. (Image courtesy of Nornickel). The European Union is considering to ban Russian imports of several platinum group metals and copper as part of new sanctions targeting Moscow for its war against Ukraine, according to people familiar with the matter. The restrictions, if backed by member states, may cover iridium, rhodium, platinum and copper, according to the people who asked not to be identified because the information is not yet public. EU sanctions require the backing of all EU member states, and the bloc is aiming to adopt the new package this month. Spokespeople for the…

Forex trading has become increasingly popular among New Zealand residents, offering opportunities to trade currencies in the global foreign exchange market. With the Financial Markets Authority (FMA) providing robust regulatory oversight, New Zealand traders have access to some of the world’s most reputable forex brokers and trading platforms. This comprehensive guide examines the best forex broker options available to New Zealand traders, explores the regulatory landscape, and provides essential trading tips for both beginners and experienced traders looking to navigate the forex market successfully. Forex Trading in New Zealand The forex trading landscape in New Zealand operates under strict regulatory…

Olympic Industries recorded a slight year-on-year increase in profit in the October–December quarter of 2025, supported by higher revenue and effective management measures.According to its latest financial statements, the leading consumer goods maker reported a net profit of Tk 62.46 crore for the second quarter of the 2025–26 financial year, up 4 percent year-on-year.Both basic and diluted earnings per share rose to Tk 3.12 for the quarter, compared with Tk 2.99 in October–December 2024.During the July–December period of the current fiscal year, the company posted a net profit of Tk 119.71 crore, slightly higher than Tk 116.31 crore in the…