Wednesday, June 26, 2019

Business

Latest and Trending Business News All Across The Globe

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UN tasks Nigeria on entrepreneurship, job creation

5 days ago
While many countries have already harnessed demographic dividend, Nigeria, among other Africa countries, still lag behind, the United Nations Population Fund (UNFPA), has said.UNFPA...
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‘New NNPC appointments to spur reserves’ increase, reforms’

5 days ago
Stakeholders in the oil and gas sector have expressed confidence in the appointment of a new management team for the Nigerian National Petroleum Corporation...
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Shareholder group criticises new recapitalisation directive

5 days ago
Shareholders under the aegis of the Independent Shareholders Association of Nigeria (ISAN) have condemned the new capital regime for insurance industry recently announced by...
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19 states to get 4G services from VDT by 2020

5 days ago
Wholesale broadband provider, VDT, is going retail and about 19 states will be serviced with advanced 4G Long Term Evolution (LTE) data service. Starting with...
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Interest rate cut and implications for the economy

5 days ago
The Monetary Policy Committee (MPC) of the Central bank of Nigeria (CBN) met on the 25th and 26th March 2019, against the backup of...
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Stock market index plunges further by 0.02% amid persistent lull

5 days ago
Continuous price depreciation in the shares of most blue chip companies, yesterday, dragged the Nigerian Stock Exchange (NSE) All Share Index (ASI) by 0.02...
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MTN employees empower youth during 21 Days of Y’ello Care

5 days ago
It is against this backdrop that MTN hosts its 13th edition of 21 Days of Y’ello Care, its annual employee volunteerism programme which runs...
UNFPA at 50: Private sectors call for more collaboration to achieve SDGs

UNFPA at 50: Private sectors call for more collaboration to achieve SDGs

6 days ago
Captains of industry have called for more collaboration between government agencies and private sector players in influencing enabling policies as well as the implementation...
Refineries N141b losses surpass allocations to critical sectors

Refineries N141b losses surpass allocations to critical sectors

6 days ago
•Stakeholders insist on assets commercialisation  Refineries operated by the Nigeria National Petroleum Corporation (NNPC), recorded deficits running into N141billion within 13 months, between January 2018...
How Nigeria, others lose $4.2tr savings over poor infrastructure, by World Bank

How Nigeria, others lose $4.2tr savings over poor infrastructure, by World Bank

6 days ago
The cost of not investing in strategic infrastructure may not only pose challenge to ease of doing business, but also Nigeria and other economies...
Strategic investor takes controlling stake in Wema Bank

Strategic investor takes controlling stake in Wema Bank

6 days ago
..Triggers massive transaction volume on bank’s shares •Shareholders okay move, indices down by N40b Strong indications emerged yesterday that a strategic investor assumed to be Adebutu...
FG nets N3.7tr against CBN in five year operations

FG nets N3.7tr against CBN in five year operations

6 days ago
Apex bank refutes reports on transactions with govt as mischief The Federal Government emerged the highest claimant against the Central Bank of Nigeria (CBN), in...
FAAN, state government to tackle encroachment at Enugu airport

FAAN, state government to tackle encroachment at Enugu airport

6 days ago
The Federal Airports Authority of Nigeria (FAAN) and the Enugu State government have entered into a collaboration to effectively tackle encroachment and illegal occupants...
FG to provide identification for all Nigerians in five years

FG to provide identification for all Nigerians in five years

6 days ago
Barring any unforeseen circumstances, the Federal Government plans to provide a lifelong unique identification for every individual physically residing in Nigeria, and Nigerians in...
Firm unveils solar solutions to bridge energy gaps in Nigeria

Firm unveils solar solutions to bridge energy gaps in Nigeria

6 days ago
With International Energy Agency (IEA) reports, revealing that over 600 million people in Africa will not have access to grid electricity by 2030, a...
Ellah Lakes lists additional 1.880m shares on NSE

Ellah Lakes lists additional 1.880m shares on NSE

6 days ago
Ellah Lakes Plc has announced  the successful listing of additional 1.880 million shares on the main board of the Nigerian Stock Exchange (NSE). Ellah Lakes’ listing...
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Bearish sentiments drag stock market index further by 0.4%

6 days ago
The reign of bears continued unabated on the trading floor of the Nigerian Stock Exchange (NSE), as more bellwether stocks depreciated in price, resulting...
‘How to improve market access through voluntary certification’

‘How to improve market access through voluntary certification’

6 days ago
To aid improved market access for exporters of processed foods, the Nigerian Export Promotion Council (NEPC), has commenced an awareness programme on Hazard Analysis...
Nigeria loses over 300,000MT of local sugar demand to smuggling yearly

Nigeria loses over 300,000MT of local sugar demand to smuggling yearly

6 days ago
The Chairman of Dangote Sugar Refinery Plc, Aliko Dangote has warned that Nigeria is losing over 300,000 metric tonnes of local sugar demand to...
Nigeria’s phone production suffers as imported brands flood market

Nigeria’s phone production suffers as imported brands flood market

6 days ago
The ‘consuming’ nation status tag on Nigeria may linger for long; as the expression seems to have found a permanent abode in the mobile...
Huawei predicts $30b revenue shortfall, growth decline

Huawei predicts $30b revenue shortfall, growth decline

6 days ago
The Chief Executive Officer, Huawei, Ren Zhengfei, has admitted that the current challenge facing the company will cost the firm at least $30 billion...
Oil prices slip for second day on global growth worries

Oil prices slip for second day on global growth worries

6 days ago
Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, although...

Nigeria’s inflation rate hits 11.40% in May —NBS

1 week ago
The National Bureau of Statistics, says the Consumer Price Index which measured inflation increased to 11.40 per cent (year-on-year) in May from 11.37 per...

BREAKING! President Buhari Orders CBN To Blacklist Firms Importing Palm Oil

2 weeks ago
President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist any firm, its owner and top management caught smuggling or dumping palm...
Wapic raises share capital to N15b ahead of regulatory order

Wapic raises share capital to N15b ahead of regulatory order

2 weeks ago
Wapic Insurance Plc has secured the approval of its shareholders to increase the authorised share capital of the company from N8.5 billion to N15...
AfDB, partners launch new fund to boost digital financial inclusion

AfDB, partners launch new fund to boost digital financial inclusion

2 weeks ago
The African Development Bank (AfDB), and its partners, yesterday, launched the Africa Digital Financial Inclusion Facility (ADFI), designed to aid safety and expansion of...
‘Find alternatives for attracting investors to food processing’

‘Find alternatives for attracting investors to food processing’

2 weeks ago
The Emir of Zuru, Major General Muhammad Sani Sami (Rtd.) has appealed to the Federal and states government to find alternative ways of attracting...
Africa must integrate to grow, says Adesina

Africa must integrate to grow, says Adesina

2 weeks ago
From Malabo, Equatorial Guinea, comes a new call on the leadership of the continent’s economies, to pursue regional integration as a way to foster...
ANAN urges improvement in ERGP implementation

ANAN urges improvement in ERGP implementation

2 weeks ago
The new President, Association of National Accountants of Nigeria (ANAN), Prof. Muhammad Mainoma, has urged the Federal Government to improve the pace of implementing...
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Oando minority shareholders demand reimbursement of AGM losses

2 weeks ago
Minority shareholders of Oando Plc, yesterday, condemned the recent cancellation of the company’s 2018 Annual General Meeting (AGM) by the Securities and Exchange Commission...
Extramile Africa offers N4m soft loans to MSMEs

Extramile Africa offers N4m soft loans to MSMEs

2 weeks ago
To drive financial inclusion and social empowerment for Micro, Small and Medium Enterprises (MSMES), a fintech firm, Extramile Africa, has offered N4 million worth soft...
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Nigeria, Benin Customs adopt single goods declaration procedure

2 weeks ago
To facilitate regional trade, Customs authorities in Nigeria and Benin have adopted single goods declaration, as both countries introduce modern tools for inter-border clearance...
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FG decries N4bn spent annually on importation of diaper, others

2 weeks ago
The Federal Government has expressed concern over the N4billion plus spent yearly on the importation of diaper, sanitary pads, wipes and napkins into the...
Firm, UK partner collaborate on capacity building for fire fighters

Firm, UK partner collaborate on capacity building for fire fighters

2 weeks ago
Falck Prime Atlantic (FPA), a subsidiary of Prime Atlantic Limited, and Fire Service College, UK, have concluded plans to collaborate on specialised fire-fighting training...
NASS election: Oshiomole, Fayemi lead APC governors delegation to Assembly

NASS election: Oshiomole, Fayemi lead APC governors delegation to Assembly

2 weeks ago
The National Chairman of the ruling All Progressives Congress (APC), Comrade Adams Oshiomole and Ekiti State Governor, Kayode Fayemi on Tuesday led a delegation...
Forcados shutdown drags Nigeria’s production as OPEC’s May output shrinks

Forcados shutdown drags Nigeria’s production as OPEC’s May output shrinks

2 weeks ago
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low...
SEC suspends Oando Plc’s AGM

SEC suspends Oando Plc’s AGM

2 weeks ago
• Shareholders okay commission’s directive • Row over resignation of two non-executive directors Following the ex-parte order of the Federal High Court, Ikoyi Lagos in suit...
NEPZA’s N100b four-year budgets and Kano FTZ’s economic potential

NEPZA’s N100b four-year budgets and Kano FTZ’s economic potential

2 weeks ago
Several factors were responsible for the adoption of free trade zones scheme in Nigeria, among which are the diversification of the revenue base of...
Oando, SEC tussle drags stock market’s indices by 2.05 per cent

Oando, SEC tussle drags stock market’s indices by 2.05 per cent

2 weeks ago
The nation’s equity market closed trading on a volatile note last week, consolidating three consecutive sessions of losses after the two-day public holiday for...
Fidelity supports traders with soft loans, security

Fidelity supports traders with soft loans, security

2 weeks ago
Fidelity Bank Plc has provided soft loans and security for traders in the Trade Fair complex, Lagos, as part of its Corporate Social Responsibility...
Outsource Global extends BPO service to Japan

Outsource Global extends BPO service to Japan

2 weeks ago
The Africa Business Process Outsourcing industry got another boost as one of the players in that space Outsource Global, expanded its services to Japan. Speaking...
Techmoney Africa to finance startups, connects local, global investors

Techmoney Africa to finance startups, connects local, global investors

2 weeks ago
Unicorn Group has said the Techmoney Africa Summit, which kicked off yesterday at the University of Lagos (UNILAG), will ensure local entrepreneurs and start-...
Gold forum to seek enabling market policy

Gold forum to seek enabling market policy

2 weeks ago
Come June 25-26, the first-ever West Africa gold conference hosted by Nigeria’s first gold refinery, Kian Smith Gold Refinery, in collaboration with Noemdek, a...
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VFD Group pays N2.20 dividend to shareholders

2 weeks ago
VFD Group Plc has approved N251.5 million as dividend, translating to N2.20 per ordinary share held for the financial year ended December 31, 2018. Impressed...
Sterling Bank commits 10% loan portfolio to agric finance

Sterling Bank commits 10% loan portfolio to agric finance

2 weeks ago
Sterling Bank Plc, said it has committed 10 per cent of its total loan portfolio to funding agriculture in recognition of its significant contribution...
How absence of SEC’s governing board undermines investors’ confidence

How absence of SEC’s governing board undermines investors’ confidence

2 weeks ago
The Investment & Securities Act (ISA 2007) specifically provides for the establishment of a board for the Securities & Exchange Commission (SEC) and outlines...
Stanbic IBTC, nine others record N534b share deals in five months

Stanbic IBTC, nine others record N534b share deals in five months

2 weeks ago
No fewer than 10 stockbroking companies traded 39.09 billion shares, worth N537.966 billion, representing or 55.31 per cent of the total shares traded on...
FMDQ weekly report

FMDQ weekly report

2 weeks ago
Commentary on the Foreign Exchange (FX) market with data for the week-ended June 7, 2019. ▪ The Central Bank of Nigeria (CBN) intervened through its...
How insurance firms settled N76b claims

How insurance firms settled N76b claims

2 weeks ago
About nine out of the 57 insurance companies in the country have settled a cumulative claims of N76 billion by policyholders, who suffered insured...
What economy needs now - FSDH

What economy needs now – FSDH

2 weeks ago
The nation’s economy is presently in need of fiscal direction, removal of fuel subsidy and transparent channeling of the proceeds to infrastructure and social...
FCMB chief wants sustainable growth plan for Nigeria, others

FCMB chief wants sustainable growth plan for Nigeria, others

2 weeks ago
The Chief Executive Officer and Executive Director of FCMB Bank (UK) Limited, James Benoit, has challenged African economies on the need to look inwards...
CBN identifies two major issues affecting Nigeria’s economy

CBN identifies two major issues affecting Nigeria’s economy

2 weeks ago
Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has said the bank, with some stakeholders, have identified smuggling and dumping as major...
Lack of political will, responsible for tax evasion

Lack of political will, responsible for tax evasion

2 weeks ago
The absence of political will and commitment, to enforce tax laws has placed undue burden on the country’s oil revenue. Also, failure to review...
CBN identifies two major issues affecting Nigeria’s economy

CBN identifies two major issues affecting Nigeria’s economy

2 weeks ago
Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has said the bank, with some stakeholders, have identified smuggling and dumping as major...
‘Non-passage of CNI bill may hinder 70% broadband penetration target’

‘Non-passage of CNI bill may hinder 70% broadband penetration target’

3 weeks ago
As operators look to achieving 70 per cent broadband penetration in another five years, failure of the National Assembly (NASS), to pass the Critical...
Bargain hunting: NSE indices drop further by 1.30%

Bargain hunting: NSE indices drop further by 1.30%

3 weeks ago
Trading on the Nigerian Stock Exchange (NSE) resumed on Thursday after the two-day holidays to mark Eid-el-Fitri on a bearish trend due to bargain...
FAAN rallies airlines, operators to improved airport infrastructure plan

FAAN rallies airlines, operators to improved airport infrastructure plan

3 weeks ago
The Federal Airports Authority of Nigeria (FAAN) has entered into a partnership with the Airline Operators of Nigeria (AON) and Airline Operating Committee (AOC)...
I now want inner peace; I’ll choose real Love over money – Princess Shyngle

I now want inner peace; I’ll choose real Love over money – Princess Shyngle

3 weeks ago
General secretary of slayers association in Ghana, Princess Shyngle might be one confused person living in the country as she can’t stick to one...
Nigeria’s e-payment deals lose over N5 trillion in Q1

Nigeria’s e-payment deals lose over N5 trillion in Q1

3 weeks ago
•Banks still exposed to oil, gas sector with N3.5tr The first quarter (Q1) transactions record of the electronic payment (e-payment) channels across the country, showed...
Delay in outcomes of inland basins drilling by NNPC worry stakeholders

Delay in outcomes of inland basins drilling by NNPC worry stakeholders

3 weeks ago
Over three months after the Nigerian National Petroleum Corporation (NNPC) started drilling activities at the spud-in of Kolmani River-II Well in Gongola Basin in...
Group urges higher adoption of technology for business growth

Group urges higher adoption of technology for business growth

3 weeks ago
Technology and innovation have transformed the face of businesses across the globe, and business leaders and employers in the country must be exposed to...
Embattled Boeing 737 Max aircraft may resume flight by December

Embattled Boeing 737 Max aircraft may resume flight by December

3 weeks ago
American leading commercial plane manufacturer, Boeing, has hinted of a possible return of embattled Boeing 737 Max plane model to flight services before the...
Nigeria missing as South Africa propels Africa’s wind energy surge

Nigeria missing as South Africa propels Africa’s wind energy surge

3 weeks ago
As Nigeria struggles to tap into renewable energy, especially wind, developments in South Africa and other Africa countries have turned 2018 to a record-breaking...
Transcorp wins awards, emerges Africa’s leading hotel

Transcorp wins awards, emerges Africa’s leading hotel

3 weeks ago
Transcorp Hilton Abuja has emerged Africa’s Leading Business Hotel for the fifth consecutive year at the prestigious World Travel Awards. The hotel scooped the awards...
Economic summit holds June 25-27

Economic summit holds June 25-27

3 weeks ago
An economic summit designed to promote investment in various sectors to guarantee continuous growth is being planned by the Osun State Government in Osogbo...
Hundreds of jobs created as technology hubs hit 77

Hundreds of jobs created as technology hubs hit 77

3 weeks ago
• Lagos has 35 innovation centres, Abuja 13, Rivers 5 •Experts task Buhari on tech-focused economy, improved infrastructure Hundreds of jobs have been created with the...
‘Why Nigeria’s import, export procedures failed’

‘Why Nigeria’s import, export procedures failed’

3 weeks ago
Nigeria’s import, export, regulatory and transit procedures are encumbered by lengthy procedures associated with unnecessary delays, high transaction cost, and increase of cargo dwell...
National database to capture 10 fingers

National database to capture 10 fingers

3 weeks ago
•NCC wants listing of Glo, Airtel, 9Mobile on Stock Exchange As part of efforts to create a security and development-oriented National Citizens Database, the Federal...
‘Nation’s business environment unfriendly for manufacturers’

‘Nation’s business environment unfriendly for manufacturers’

3 weeks ago
The Group Managing Director and Chief Executive Officer of Chemstar Groups Limited, manufacturer of Finecoat and Shield Paints products, Aderemi Awode, has bemoaned what...
Nigeria’s growth remains challenged at 2.1% in 2019, says World Bank

Nigeria’s growth remains challenged at 2.1% in 2019, says World Bank

3 weeks ago
•Failed oil expectations, policy uncertainty constrain investments Growth in Nigeria- the largest economy of Africa, would remain subdued in 2019 at 2.1 per cent, the...
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