Business

China's central bank said on Thursday that there was no basis for further depreciation in the yuan given strong economic fundamentals, in a bid to reassure jittery global markets after it devalued the currency earlier in the week. As the...

Network equipment maker Cisco Systems Inc (CSCO.O) reported higher-than-expected quarterly revenue and profit as strong demand for its products in the United States more than offset weakness elsewhere. Shares of Cisco, considered a bellwether for the performance of the broader...

The directive of Nigerian President Muhammadu Buhari to compel government Ministries, Departments and Agencies to maintain the Single Treasury Account (TSA) at the Central Bank, could whittle down the appetite for the issuance of FGN Sovereign bonds, according to...

U.S. stocks opened lower for a second day in a row on Wednesday as China weakened its currency further, increasing worries about a global economic slowdown. The Dow Jones industrial average .DJI fell 146.51 points, or 0.84 percent, to 17,256.33....

Greek banks will have restricted access to bailout funds until a fresh injection of equity to recapitalize them several months from now is approved, sources told Reuters on Wednesday. An initial 10 billion euros ($11.16 billion) will be made available...

China's Central Bank has again cut the guiding rate for the national currency, the yuan, a day after Tuesday's record 1.9% devaluation. The move sent fresh shockwaves through Asian markets, but the bank has sought to calm fears, saying it...

The Bank of Industry (BoI), on Tuesday in Lagos launched a N1 billion fund for Nigeria’s fast-growing fashion industry. Mr. Rasheed Olaoluwa, Managing Director of the bank, said the fund would support Small and Medium Enterprises (SMEs). Olaoluwa added that Nigerian...

Wall Street was set to open lower on Tuesday after China's surprise devaluation of the yuan increased unease about the health of the world's second-largest economy and pushed the dollar higher. The yuan fell to its lowest against the dollar...

Russian state companies and banks are cutting staff and scrapping projects as they prepare for another surge of foreign debt repayments of at least $35 billion before the end of the year amid falling energy export revenues and a...

Google Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose. Analysts and investors...