Business
Global Bond Energy Funds Draw Investment
Global bonds funds posted a 14th Week of inflows on concern earnings reports will limit stock gains and energy sector funds drew more money as oil prices rebounded, according to EPFR Global.
US bond funds, including inflation protected debt recorded $33 billon of net inflows in the year ended July 15, the Cambridge Massausetts-based research company that tracks $10 billion of assets. Emerging Market their longest streak of inflows since February 2007.
“Inflation concerns continued to show up in the flows data as the strongest inflows were recorded by short-term bond funds, inflation-protected bond funds”, the company said in an email statement.
“Fixed income funds continued to shine” as funds braced for second-quarter US Corporate-earnings, it added.
Crude oil for August delivery climbed to $61.54 a barrel on July 15 after reaching a two-month low of $58.32 a day earlier, according to data compiled by Bloomberg Energy Funds gained $603 million of new money recently, led by gains exchange traded funds in the sector, EPFR said.
Japanese stock funds also received net inflows for a third week, the longest winning streak since the third quarter of 2008, it said. Among emerging market stock funds, those investing in Asia excluding Japan saw net weekly inflows global emerging market, Latin America as well as Europe, Middle East and African funds recorded outflows EPPR said.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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