CBN raises banks’ Loan to Deposit Ratio to 65%
The Central Bank of Nigeria has reviewed upwards the minimum loan-to-deposit-ratio (LDR) for banks in the country from 60 to 65 per cent. The new directive comes just after the closure of September 30th deadline set by the regulator for banks to meet the 60 per cent loan-to-deposit-ratio. Meanwhile, oil prices steadied today although gains were capped as weak economic readings in the United States depressed global markets. Research Analyst at Financial Derivatives, Funmi Adebowale joins CNBC Africa for more.
US set to slap tariffs on EU following WTO Airbus ruling
Aircraft and agricultural items from Europe will be subject to US tariffs in the latest round of a long legal fight. The move sets the stage for tit-for-tat trade escalation between the United States and European Union.
Blacklane expands U.S. footprint
Blacklane, a Berlin-based chauffeur service, is expanding its footprint in the United States. The company recently announced plans to open two U.S. offices this fall in New York and Los Angeles. Bloomberg's Caroline Hyde caught up with Jens Wohltorf, CEO and co-founder of Blacklane, to discuss the company's expansion plans and it's road to the public markets.
Hurricane Dorian aims at U.S. East Coast after battering Bahamas
Hurricane Dorian has weakened to a Category 3 storm as it moves towards the east coast of the United States after wreaking havoc on the Bahamas. Bloomberg's Annmarie Hordern examines the storm's expected path and the potential cost of insurance losses on "Bloomberg Surveillance."
Hurricane Dorian heads for Canada
Hurricane Dorian unleashed flooding and heavy winds along the southeast coast of the United States before heading off into the Atlantic. It's current track has the storm reaching Canada's Nova Scotia next.
US markets sink, sparking fears of recession
Stock markets in the United States have dropped sharply after the Treasury yield curve temporarily inverted for the first time in 12 years. The news signals growing investor concern of a recession.
Serbia, Kosovo urged to ease tensions by NATO countries
Germany, France, Italy, Britain and the United States are seeking compromise over tensions between Serbia and Kosovo. Both are seeking EU accession.
Mother in Nigeria has priceless, heartwarming eruption of joy seeing son after 5 years
Mother in Nigeria has a priceless, heartwarming eruption of joy seeing son after 5 years. After her son had been in the United States for 5 years, this mother in Nigeria has a heartwarming eruption of joy when she realizes it was him at a restaurant.
U.S and China Spar over Hong Kong
Tensions between China and the United States over what’s happening in Hong Kong seems to be escalating. One state official calling China a “thuggish regime.” It stems from Chinese complaints that the U.S. is stirring up some unrest in the city. Bloomberg’s Stephen Engle reports on “Bloomberg Markets: China Open.”