201105252013
Last update11:57:19 AM
The International Monetary Fund has warned that the United Kingdom's economy is still a long way from a strong and sustainable recovery.
The IMF said austerity measures were acting as a drag on the economy adding that the government could do more to offset the negative impact of austerity
with infrastructure spending.
Speaking at a press conference in London, IMF Deputy Managing Director, David Lipton, said the view of the IMF was that the UK should consider slowing the pace of cuts.
Transactions on the Nigerian Stock Exchange for the second consecutive day,
maintained the upbeat trend on Wednesday with the market indicators
recording further growth. The market capitalization rose by N68 billion to
close at N11.91 trillion. The All-Share Index grew by 213.28 points to
close at 37,259.91 against the 37,046.63 achieved yesterday due to price
growth. Total Nigeria led the gainers' chart, rising by N11.10 to close at
N170 per share, while Nigerian Breweries topped the price losers,
depreciating by N1.97k to close at N173.03 per share.
The Central Bank of Nigeria remains committed to realizing the vision of providing Nigeria with a secure, robust and accessible payment infrastructure. CBN Governor, Sanusi Lamido who made the remark described electronic payment system as an important component of services which banks render to Nigerians. The CBN governor also emphasized the importance of
effective, efficient and safe service delivery to the Nigerian banking populace.
He said banks had taken deliberate actions in recent times to focus on electronic payments.
The Bank of Agriculture has entered into a partnership with Cellulant of
Kenya, to provide mobile money banking services, to about 30 million
Nigerian farmers. The move will enable farmers to enjoy broader base
services by leveraging on the payment system for money transfers.
BoA Managing Director, Mohammed Santuraki, after the signing of the pact in
Abuja, said the mobile money banking services to farmers would serve as
revolution to the agricultural sector.
He also said the partnership would assist in driving financial inclusion
services in the country.
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Japan's economy, the third largest in the world, expanded at its quickest
pace in a year, showing signs of an economic recovery. Gross domestic
product grew 0.9% in the three months to March compared to the previous
quarter.
That indicates an annualized rate of 3.5%, a vast improvement on the 1%
growth rate at the end of last year. Analysts said it was a good report card
for Prime Minister Shinzo Abe's aggressive stimulus measures.
