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  • ARISE IIP Wins Reuters 2023 Sustainability Pioneer Award And Selected As Finalist For The Circular Transition Award

    Date 06/11/2023

    ARISE IIP, the pan-African developer and operator of world-class industrial parks won the Reuters Sustainability Pioneer Award at the 14th Responsible Business Awards hosted by Reuters Events. The announcement was made at a ceremony in London where over 280 finalists from all over the world came together to celebrate where sustainable excellence of business. ARISE IIP was also a finalist for the Circular Transition Award.

  • Mecure Industries To List On NGX’s Main Board

    Date 06/11/2023

    Mecure Industries Limited, a leading human pharmaceuticals and nutraceuticals manufacturing company will list 4 billion ordinary shares (4,000,000,000) on Nigerian Exchange Limited (NGX) by introduction at N2.96 per share.

  • Bank Of England Executive Director And Financial Policy Committee Appointment

    Date 06/11/2023

    The Court of the Bank of England today appointed Nathanaël Benjamin as Executive Director for Financial Stability Strategy and Risk (FSSR). Nathanaël (Nat) will also become a member of the Financial Policy Committee (FPC).

  • Remarks To SEC Regulation Outside the United States: Fifth Annual Scott Friestad Memorial Lecture, Commissioner Mark T. Uyeda, London, United Kingdom, Nov. 6, 2023

    Date 06/11/2023

    Good morning and thank you, Jim [Burns], for that introduction. I am pleased to be part of the 2023 conference on SEC Regulation Outside the United States to deliver the Fifth Annual Scott Friestad Memorial Lecture.

  • ICE Mortgage Monitor: Affordability And Demand Continue To Suffer As Rates Hit 23-Year High - Lendable Equity Nearing Record Levels, Yet Borrower Retention Worst In 17 Years

    Date 06/11/2023

    • Rising rates and home prices have pushed the principal and interest (P&I) payment needed to purchase the median-priced home up $144 per month over the past 30 days to more than $2,500 for the first time
    • It now takes 40.6% of the median household income to cover monthly P&I – after averaging less than 25% over the past 35 years – making for the least affordable housing market since 1984
    • As a result, purchase-mortgage applications fell to 47% below pre-pandemic levels the week of Oct. 26 – the weakest they’ve been since rates began to rise
    • Further, annual home price growth continued to accelerate to +4.3% in September, though the monthly gain (+0.39%) was the weakest since January and a marked downshift from August’s revised +0.61%
    • However, with rates above 7.5%, affordability is at a 39-year low and purchase applications are waning; given these conditions it’s fair to expect prices to weaken later in 2023
    • Rising prices have brought mortgage-holder equity to within 2% of last year’s record highs in Q3 at $16.4T, $10.6T of which is available for homeowners to borrow against while keeping a 20% equity stake in the home
    • The bulk of refinance activity is equity driven, but retention of consumers post-refi is at its lowest in 17 years, due to an inability to identify and effectively market to those most likely to transact in this market

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