Wednesday, September 02, 2020
With foreign investors dominating rights issues in Nigeria’s capital market in the last two years, local investors have expressed concerns about likely effect on ownership structures of listed companies….Read more.
Widespread congestion at the Nigerian ports is costing the nation about $55 million (about N20.8 billion) per day, going by the latest report by Dynanmar. The Dutch consultancy firm said solutions to the persistent congestion at Nigerian ports are multiple…Read more.
With the Central Bank of Nigeria (CBN) deploying several measures to curb abuses in the foreign exchange (forex) market and unify the rates amid scarcity, operators in the real sector have described the move as fuelling stockpiling of raw materials…Read more.
The pump price of petrol should be closer to N155 per litre, the Chairman of the Major Oil Marketers Association of Nigeria, Mr Adetunji Oyebanji, has said. Oyebanji, who is the managing director/chief executive officer of 11Plc (formerly Mobil Oil Nigeria Plc), said this on.…Read more.
BUA Group Plc has selected France’s Axens for a multibillion-dollar 200,000 barrel per day refinery and petrochemicals plant in Nigeria, the French company said in a statement on Tuesday. Axens, which makes systems to convert oil…Read more.
Regulatory hammer on Tuesday fell on six quoted firms following suspension by the Nigerian Stock Exchange for their inability to file corporate accounts as required. The suspended companies are FTN Cocoa Processors Plc ….Read more.
The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have introduced the revised guidelines on retirees’ life annuity. They are the guidelines on Group Life Insurance Policy for Employees and CPS Retiree Pack…Read more.
BudgIT, a civic organisation in its latest publication titled: ‘Investing in People,’ examined Nigeria’s economic challenges and recommended six broad goals – with 18 priority actions that would effectively end poverty…Read more.
Schneider Electric has launched a range of smart solutions adapted to the Nigerian environment. The initiative is expected to drive down the cost of power disturbances which is pegged at S$29 billion annually…Read more.
The population of Brazil is just 9 million higher than Nigeria’s. Both countries are blessed with fertile land and exportable cash crops. The difference, however, is that Brazil turns its sugarcane into raw sugar and exports to Nigeria…Read more.
In 2018, cargo airlines across the world earned $111.3 billion as revenue—the highest since 2004, Statista said. Though this declined to $102.4 billion in 2019, it represented substantial revenue for the global aviation industry. Amid challenges faced by airlines resulting from COVID-19…Read more.
Not a single foreigner invested in Nigerian bonds in the second quarter of 2020. For the first time in more than four years, foreign investors avoided staking their monies in Nigerian bonds, after a move to ration dollars heightened investors’ fear in the economy. Nigeria…Read more.
Musk worth $115.4 billion now trails only Amazon CEO Jeff Bezos and Microsoft’s Bill Gates in the wealth rankings. Bezos’ net worth recently topped $200 billion, while Gates is worth $124.8 billion, according to the Bloomberg Billionaires Index…Read more.
In just a few hours, Zoom Video Communications CEO Eric Yuan got US$4.2-billion richer. Shares of his virtual-meeting company surged as much as 26% to $410 in late US trading as it reported a jump in quarterly revenue and suggested the explosive growth…Read more.
South Korean prosecutors indicted Samsung Group leader Jay Y Lee on charges including manipulating stock prices and breach of trust in order to cement control of the group, a prosecution official said on Tuesday…Read more.