Asia

EXXON MOBIL TO MAKE BIGGEST ASSETS SALE OF THE DECADE

Posted on by Gambeta News
EXXON MOBIL TO MAKE BIGGEST ASSETS SALE OF THE DECADE

Exxon Mobil plans to quit business in Europe and sell off assets in Asia and Africa. Exxon Mobil is about to make its biggest assets sale for decades. The multinational Oil and Gas company in a bid to free up cash; has put up oil and gas fields in Europe, Asia and Africa worth US$25 billion for sale. The company according to sources plans to use the freed up cash to focus on a handful…

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THE RISKS IN NIGERIA-CHINA US$2.5bn CURRENCY SWAP DEAL

Posted on by Gambeta News
THE RISKS IN NIGERIA-CHINA US$2.5bn CURRENCY SWAP DEAL

Nigeria needs to increase exports to fully benefit from the US$2.5bn bilateral currency swap deal with China. The Central Bank of Nigeria (CBN), recently signed a bilateral currency swap deal with the People’s Bank of China (PBoC) worth about US$2.5 billion. In local currencies, the swap is worth about 15 billion Renminbi (RMB) or N720 billion. The deal’s aim is to reduce the demand for U.S. Dollar by Nigerians importing from China, and consequently strengthen…

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