Asian stocks slipped on Tuesday, their recent recovery stalling after European equities broke a winning streak, while the dollar edged further away from three-year lows.

Spreadbetters expected a mixed start for European stocks, with Britain’s FTSE seen rising 0.1 percent, Germany’s DAX dropping 0.1 percent and France’s CAC dipping 0.07 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.25 percent. Australian stocks were little changed, South Korea’s KOSPI lost 1.2 percent and Hong Kong’s Hang Seng dropped 0.4 percent.

The Central Bank of Nigeria (CBN) has injected $210million into the various foreign exchange market to meet customers’ requests.

The CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million.

The Department of Petroleum Resources (DPR) on Tuesday fined 20 marketers N2.5 billion for diverting over nine million litres of petrol.

The Director of DPR, Mr Mordecai Ladan, said this on the sidelines of a meeting of zonal controllers from 28 states and all heads of division in Abuja.

Presenting the position of the meeting to newsmen, the DPR Head of Public Affairs Unit, Mr Saidu Bulama, explained that the marketers evaded detection because the products were intervention products meant for the market between Dec. 9, 2017 and Feb 3.

The Consul General of Nigeria in Guangzhou, China, Mr. Wale Oloko on Monday warned young Nigerians intending to travel to China for employment purposes to bury such plans as there are no job for Nigerians in China. Oloko who stated this in a chat with NAN in Lagos said it was difficult if not impossible for unskilled Nigerians to get menial jobs in China.

Nigeria’s external reserves will rise to 54 months high of $45 billion this month following the conclusion of federal government’s $2.5 billion Eurobond this week.

The Eurobond, which commenced last week with the announcement of its pricing on Thursday, will be concluded on Friday.

A South Korean court has sent another of the country's most powerful bosses to jail.

Shin Dong-bin, the billionaire chairman of conglomerate Lotte Group, was sentenced to two and a half years in prison after he was found guilty of bribery Tuesday.

The trial of Shin, 62, followed a huge influence-peddling scandal that gripped the country and brought down the government of former President Park Geun-hye.

The Enugu State House of Assembly, Tuesday, passed the State’s 2018 appropriation bill, totally N103, 563, 500, 000 (one hundred and three billion, five-hundred and sixty-three million, five hundred thousand naira) into law.

The figure represents an increase of N5b to the ninety eight billion naira earlier proposed by Governor Ifeanyi Ugwuanyi.

The House said the increment, which is for capital expenditure, was to boost the State Government’s infrastructure development drive in the State.

The Ondo State Government has called on the Federal Government to use intervention fund meant for cocoa buyers to set up a cocoa processing plant in the state.

Ondo State Commissioner for Commerce, Industries and Cooperatives, Chief Timehin Adelegbe who stated this at a programme organised by Nigeria Export Promotion Council (NEPC) with the theme “Repositioning Nigerian Cocoa to attain Global Competitiveness’’ said the intervention fund was enough to set up processing outlets so as to stop exportation of cocoa beans in the country.

President Donald Trump has unveiled a $4.4 trillion budget for next year that heralds an era of $1 trillion-plus federal deficits.

The growing deficits reflect, in part, the impact of last year's tax overhaul, which is projected to cause federal tax revenue to plummet. And Monday's budget submission does not yet reflect last week's two-year bipartisan $300 billion pact that wholly rejects Trump's plans to slash domestic agencies.

The spending spree, along with last year's tax cuts, has the deficit moving sharply higher with Republicans in control of Washington. Trump's plan sees a 2019 deficit of $984 billion, though $1.2 trillion is more plausible after last week's budget pact and $90 billion worth of disaster aid is tacked on. That's more than double the 2019 deficit the administration promised last year.

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