1.Nigeria Targets 80% Local Manufacturing in Auto Industry:
Nigeria plans to raise the portion of local manufacturing in the automotive industry to 80 percent by 2023 as Africa’s most populous country seeks to cut imports and diversify the economy away from oil, the industry regulator said.
2.Spain is shrinking:
Spain recorded more deaths than births in the first half of this year. Deaths exceeded births by more than 19,000, a turnaround from a year earlier when there were nearly 4,000 more births than deaths, the National Statistics Institute (INE) said.
3.The head of the US Federal Reserve can’t wait to hike interest rates:
Janet Yellen said on Wednesday she was “looking forward” to a U.S. interest rate hike that will be seen as a testament to the economy’s recovery from recession.
4.U.S. Oil Falls Below $40 Amid New Signs of Glut:
Oil prices fell below $40 a barrel Wednesday amid a growing glut, putting more pressure on an industry that already is a major weak spot for global growth.
5.Most Asian Shares Fall on Lower Oil, Fed Comments:
Most Asian shares fell after oil prices slid overnight and expectations firmed that the Federal Reserve will raise rates after its December meeting in two weeks.
6.Kenyan Central Bank Sees Scope to Ease Rates From Spending Cuts:
Kenya’s government will propose spending cuts next month that the central bank said will help reduce interest rates in East Africa’s biggest economy.
7.Crude inches up on report of proposed Saudi oil deal:
Crude prices inched up on Thursday on a report suggesting that Saudi Arabia will propose a deal to balance oil markets, in the first sign the top OPEC producer is willing to compromise after a rout that has more than halved oil prices since June 2014.U.S. crude CLc1 was trading 29 cents higher at $40.23 per barrel at 0517 GMT (12.17 a.m. ET), while internationally traded Brent LCOc1 was up 48 cents at $42.97.
8.All-Share Index Slows 0.09% As Bears Loosen Grip:
The rate of share value depreciation slowed on the Nigerian Stock Exchange (NSE) following the exit of some foreign investors.Having declined by 0.26 per cent on Tuesday, the All Share Index (ASI) was down yesterday by 0.09 percent.
9. Hundreds of porn sites have been hit with a massive malware attack:
Bogus adverts have been trying to install rogue software on visitors’ computers.
10.Ashaka Cement Q3 2015: Moving to neutral on weak Q3 results – FBNQuest:
Ashaka Cement’s (Ashaka) Q3 2015 PBT came in 88% behind our forecast. We have cut our EPS forecast by 39% over the 2015-17E period to reflect the subdued pricing environment for cement.