Finance

The IRS has opened tax season, but don't rush to file: Here's why experts say you may want to wait.

The IRS has opened tax season, but don’t rush to file: Here’s why experts say you may want to wait.

On Monday, January 24, the IRS began accepting and processing tax returns for the 2021 tax year. The tax return deadline is April 18, and the filing deadline was extended last year, but the IRS currently has no plans to postpone that date. Three-quarters of all Americans get their annual tax refund from the IRS, …

The IRS has opened tax season, but don’t rush to file: Here’s why experts say you may want to wait. Read More »

The total trade deficit grows by 10.43% to N13.3trn in Q3 of 2021. In the third quarter of 2021, Q3'2021. Nigeria records a deficit of N3.023 trillion with her trading partners worldwide while total merchandise trade amounts to N13.284 trillion. In a press conference yesterday in Abuja. Statistician-General and CEO of the National Bureau of Statistics, Dr Simon Harry, reports that total trade grew by 10.43 percent over the N12.029 trillion recorded in Q2 2021. According to Harry, the negative trade balance was primarily due to the importation of refined petroleum products, motorcycles, and cycles. Trade Balance Negative due to Increased Imports As stated by the NBS boss, the adverse trade balance was the result of a surge in imported refined petroleum products and imported motorcycles and cycles. "I wish to inform you that total trade between Nigeria and her trading partners amounted to N13,284.09 billion in third-quarter. Out of which exports were N5,130.30 billion and imports were N8,153.79 billion. It is resulting in a negative trade balance of N3,023.50 billion." "The increase in imports is mainly the result of a rise in imports of motor spirits, which rose from N782.46 billion to N1,052.50 billion. Whereas gas oil increases from N152.53 billion to N225.63 billion, and imports of motorcycles and cycles. As well as imports of CKD from renown manufacturers, which accounts for N116.34 billion, N94.79 billion, representing 34.51 percent, 47.93 percent, and 22.73 percent respectively over the preceding quarter," he further adds. The bulk of the trade balance was a deficit of 61.62 percent from N1,870.77 billion in Q2, 2021. It represents a decline from N12,029.64 billion in the 3rd quarter to N5,079.44 billion in the 2nd quarter, 2021. Export trade was up by 1.00 percent to N5,079.44 billion. But import trade was up by 17.32 percent to N6,950.21 billion in Q2, 2021. According to Harry, crude oil dominates Nigerian export trade. It accounts for N4,026.18 billion (78.47 percent) of total exports during the third quarter. "The liquefied natural gas closely with N487.49 billion (9.50 percent), drilling platforms, whether submersible or floating. It comes with N163.70 billion (3.19 percent), and urea, whether in aqueous solution or not, with N107.17 billion (2.08 percent)." Furthermore, motor spirits values at N 1,052.5 billion (12.91 percent), durum wheat at N 315.17 billion (3.87 percent). Whereas gas oil at N225.63 billion (2.77 percent), and used vehicles at N185.41 billion (2.27 percent) also account for the imports. Top Five Trading Partners During Third Quarter Dr. Simon Harry says the following regarding trading partners. "The top five major trading partners in export trade in Q3'2021 are India ($758.1 billion), Spain ($627.01 billion), Italy ($446.04 billion), France ($363.23 billion), and the Netherlands ($242.49 billion)." In conclusion, "Like China, India, United States, Netherlands, and Belgium were among the top five import trading partners in the period under review with N2,441.79 billion, N710.35 billion, N599.12 billion, and N434.12 billion."

Petrol import drives Nigeria’s trade deficit in Q3’21 to N3trn

The total trade deficit grows by 10.43% to N13.3trn in Q3 of 2021. In the third quarter of 2021, Q3’2021. Nigeria records a deficit of N3.023 trillion with her trading partners worldwide while total merchandise trade amounts to N13.284 trillion. In a press conference yesterday in Abuja. Statistician-General and CEO of the National Bureau of …

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WATCH World Heroes’ Mission (2021) Online 123movies Full HD Download Free

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WATCH World Heroes’ Mission (2021) Online 123movies Full HD Download Free Read More »

Watch World Heroes’ Mission (2021) Online 123movies Full Hd Download Free

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$300 Million Oakville Triangle Redevelopment In Alexandria Secures Financing

Stonebridge, the master developer behind Oakville Triangle, a planned mixed-use redevelopment in Alexandria, Virginia, has secured the necessary financing for the $300 million projects. With the financing secured, the project is ready to move forward, and demolition already began this week. When completed, Oakville Triangle will offer 577 apartments, a 93,000 Sq Ft. Inova HealthPlex, 55,000 square …

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60 Guilders Grabs 12 MetroTech Buy With $106 Million Starwood Loan

Brookfield Property Partners has officially sold its office condominium at 12 MetroTech Center in Downtown Brooklyn to 60 Guilders for $128 million. Starwood Property Trust granted $106 million in acquisition financing for the deal – one of the largest office transactions in the area to close since the COVID-19 pandemic hit. Cushman & Wakefield’s Gideon Gil, Lauren Kaufman, Steve Kohn and Alex Hernandez negotiated the five-year, interest-only …

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Silver Tree Scores $62 Million Loan For Fort Lauderdale Retirement Community

Silver Tree Residential scored a $62.1 million refinancing loan for a large, Fort Lauderdale retirement community from Grandbridge Real Estate Capital. Gateway Terrace Senior Apartments, situated at 1943 NE 6th Court, is located in the Victoria Park residential neighborhood along the Rio Barcelona Canal, less than two miles north of Las Olas Boulevard, the city’s main road. Constructed …

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Arbor Realty Trust Grants $82 Million On 1,002-Unit Multifamily Asset In Memphis

Blue Magma Residential has grabbed $82 million in bridge debt from Arbor Realty Trust to obtain a 1,002-unit residential development in Memphis, Tennessee. The three-year, floating-rate and interest-only loan helped facilitate Tampa-based Blue Magma’s purchase of the sizable Waterview Apartment Homes at 6860 Quince Road in Memphis from its previous owner CapReit. Berkadia’s Patrick Jordan organized the sale and financing stated that the Blue Magma …

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Developers Obtained $30 Million Construction Loan for Boynton Beach Project

Chicago-based firms Harrison Street Real Estate and CA Ventures obtained a $30 million construction loan from Live Oak Banking Company for a Boynton Beach, Florida project, after purchasing a vacant site for $5.3 million. Located at 6495 W Boynton Beach Boulevard, the 5.3-acre parcel also sits along Jog Road and is part of a larger development called Mainstreet at Boynton. The sellers, Boca …

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