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Global energy market forecast favours gas — Tony Attah

   Global energy market forecast favours gas — Tony Attah   The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Tony Attah, on Monday, said projections put gas in the top quartile of the most competitive and strategic investments in the global energy market. Attah spoke at an executive roundtable discussion titled “Growth Outlook and Strategies for Staying...... more

John Mahama, Saraki, Yeda, Alakija, Amina J Mohammed to discuss unlocking Africa’s economic potential at Commonwealth Africa Summit 2018

John Mahama, Saraki, Yeda, Alakija, Amina J Mohammed to discuss unlocking Africa’s economic potential at Commonwealth Africa Summit 2018 Unlocking Africa’s economic potential by increasing trade, collaboration and philanthropy within the commonwealth will be at the forefront of conversations at next month’s Commonwealth Africa Summit in London. The Summit aims to spark new thinking on how to promote collective action, achieve shared prosperity and common good for Africans leveraging on...... more

CBN lifts foreign exchange market with $210m

CBN lifts foreign exchange market with $210m The Central Bank of Nigeria (CBN) has provided fresh 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okorafor, in a statement on Monday in Abuja, said that 100 million dollars was offered to authorised dealers...... more

Amazon fined $1.2 million for illegal pesticide sales

 Amazon fined $1.2 million for illegal pesticide sales The Environmental Protection Agency (EPA) announced Thursday that it would fine Amazon $1.2 million for allowing third-party businesses to sell illegal pesticides on its platform. The EPA said that Amazon committed almost 4,000 violations of laws prohibiting the sale of certain pesticides in the U.S. Amazon noted that companies were able...... more

NSE rebounds after 8 days loss with a growth of 1.11%

   NSE rebounds after 8 days loss with a growth of 1.11% Activities on the Nigerian Stock Exchange (NSE) rebounded on Wednesday after dropping for eight-consecutive days with the market indicators improving by 1.11 per cent. The News Agency of Nigeria (NAN) reports that the All-Share Index appreciated by 463.65 points or 1.11 per cent to close at 42,171.80, compared to 41,708.15 posted...... more

CBN seeks abolition of shell banks

 CBN seeks abolition of shell banks The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out activities where they are not licensed. Mr Godwin Emefiele, CBN Governor, made the request in Abuja on Tuesday at...... more

Forex Market gets CBN’s $210m boost

Forex Market gets CBN’s $210m boost The inter-bank Foreign Exchange Market has received the sum of $210 million from the Central Bank of Nigeria (CBN), to meet customers’ requests in various segments of the market.  In its determination to meet the customers’ needs in the sundry segments of the market, the CBN offered $100 million to authorised...... more

OPEC’s oil price nightmare is coming true

OPEC’s oil price nightmare is coming true The latest surge in U.S. oil output will probably hasten the country’s rise to the top of the producer pile. More important, it’s starting to look as though at least half of OPEC’s nightmare scenario for 2018 – a surge in shale output and slowdown in demand growth – is coming...... more

Forex: CBN boosts market with $325.64m

   Forex: CBN boosts market with $325.64m The Central Bank of Nigeria (CBN) has again intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $325.64 million. Figures obtained from the bank on Friday indicate that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors. The...... more

Oil prices crash

Oil prices crash Oil prices fell to their lowest in seven weeks on Thursday amid fears of rising global supplies after Iran announced plans to increase production and U.S. crude output hit record highs. Brent futures fell 70 cents, or 1.1 percent, to settle at $64.81 a barrel, their lowest close since Dec. 20....... more

Twitter records first quarterly profit

Twitter records first quarterly profit Twitter says it had first quarterly profit in history and returned to revenue growth in the fourth quarter. Its stock increased in pre-market trading Thursday. Though the results beat Wall Street’s cautious expectations, they don’t solve the company’s broader problems. It’s been dealing with abuse, fake accounts and attempts by Russian...... more

MTN to list in Nigerian Stock Exchange this year: Company source

MTN to list in Nigerian Stock Exchange this year: Company source MTN Nigeria discussed plans to list on the Lagos stock exchange at a board meeting on Wednesday and aims to launch the IPO this year, a company source told Reuters. Africa’s biggest mobile phone operator had planned to list its Nigerian unit in 2017, as part of an agreement with the...... more

30 Abia shoemakers back home after tutorials in China

30 Abia shoemakers back home after tutorials in China All the 30 Shoemakers sent to China by Governor Okezie Ikpeazu of Abia State to learn automated shoe production processes have returned to the state. The Shoemakers, including two non-Abians from Imo and Ebonyi doing business at Aba, were welcomed by Governor Okezie Ikpeazu at Governor’s Lodge Aba. The Governor welcomed...... more

Investors panic as US, Asia stocks plunge

Investors panic as US, Asia stocks plunge Asian markets tumbled on Tuesday as investors dumped stocks following heavy falls in the US in anticipation of higher interest rates. Japan’s Nikkei 225 index ended the morning session down 5.3% and Hong Kong’s Hang Seng dropped 4.7%. It comes after the Dow Jones Industrial Average suffered its worst drop in...... more

CBN lifts forex market with $210m

CBN lifts forex market with $210m In its desire to ensure the availability of foreign exchange and also meet customers’ requests in various segments of the market, the Central Bank of Nigeria (CBN) has injected $210 million into the inter-bank Foreign Exchange Market.  Figures obtained from the Bank on Monday indicated that it offered $100 million to...... more

Banks in Britain, US ban Bitcoin buying with credit cards

Banks in Britain, US ban Bitcoin buying with credit cards Banks in Britain and the United States have banned the use of credit cards to buy Bitcoin and other “crypto currencies.” The banks are fearing a plunge in their value will leave customers unable to repay their debts. Lloyds Banking Group Plc, Britain’s biggest lender, said on Monday it would ban...... more

Zinox Group acquires Konga in bold return to e-commerce

  Zinox Group acquires Konga in bold return to e-commerce After months of strategic negotiations with foreign investors Naspers and AB Kinnevik, the Zinox Group, Nigeria’s foremost integrated ICT solutions conglomerate, is now the majority shareholder in e-commerce giant, Konga. This an unprecedented move that is widely expected to raise the profile of e-commerce in the country. Naspers is a South...... more

Nigeria, foreign countries share data on bank accounts, property of Nigerians

Nigeria, foreign countries share data on bank accounts, property of Nigerians The Nigeria government and some foreign countries, including the United Kingdom (UK), have commenced the Automatic Exchange of Tax Information (AETI), particularly on overseas assets owned by Nigerians. Minister of Finance, Kemi Adeosun, said this yesterday in Abuja during the presentation of Progress Report on Tax Laws Reform by the Vice...... more

Bitcoin value crashes by 13 per cent

Bitcoin value crashes by 13 per cent The value of the cryptocurrency Bitcoin dived 13 per cent to below $9,000 Thursday, well below half its record value of nearly $20,000 per Bitcoin at the end of 2017. According to Bitcoin exchange CoinDesk, Bitcoin was trading at $8,932.89 Thursday afternoon, a steep decline from the value of roughly $10,000...... more

Banks advised to guard against advanced attacks

Banks advised to guard against advanced attacks Banks and other financial institutions have been advised to find better ways to fight advanced attacks by cyber criminals. The call is coming on the heels of a recent report by Juniper Research which states that fraud and the interception of online transactions statistics are exhausting that, by 2020, the value...... more

Xerox announces $6.1 billion Fujifilm merger

Xerox announces $6.1 billion Fujifilm merger Xerox announced Wednesday that it would be acquired by the Japanese corporation Fujifilm in a $6.1 billion deal. The boards of both companies announced that Fujifilm will become the majority stakeholder in Xerox. The transaction will occur in a fairly convoluted matter because Fujifilm and Xerox have been partners in a...... more

Facebook and Microsoft overshoot revenue expectations

Facebook and Microsoft overshoot revenue expectations  Facebook and Microsoft both released quarterly earnings reports Wednesday, with both companies beating analyst expectations for revenue. Facebook revenue for its fourth fiscal quarter of 2017, which ended Dec. 31, hit $12.97 billion, up 48 percent from $8.8 billion for the same period in 2016. Revenues bested Wall Street expectations of...... more

Nigeria ripe for investors — US Consul General

Nigeria ripe for investors — US Consul General The head of the U.S. Consulate in Nigeria’s capital says U.S. support for Nigeria’s economy will continue given the African country’s demographics. United States Consul General F. John Bray spoke with The Associated Press on Monday after participating in the closing gong ceremony at the Nigeria Stock Exchange House in Lagos....... more

CBN injects $210m into forex market

CBN injects $210m into forex market The Central Bank of Nigeria (CBN) on Monday injected another $210 million into various segments of the inter-bank market.  At Monday’s trading, the CBN offered $100,000,000 as wholesale interventions and allocated $55 million to the Small and Medium Enterprises foreign exchange window. Customers requiring foreign exchange for Business/Personal Travel Allowances, tuition...... more

Kogi set to host 300 investors at first ever Investment Summit

Kogi set to host 300 investors at first ever Investment Summit The Kogi State Government has said over three hundred local and international investors have indicated their willingness to attend the first ever Kogi State Economic and Investment Summit, billed to take place in the state capital, Lokoja, next month. The Secretary of the Organising Committee and Special Adviser to the Governor...... more

Shell earnings expected to hit £11bn after oil prices recover

Shell earnings expected to hit £11bn after oil prices recover Royal Dutch Shell is set to unveil its highest earnings since the oil market collapse this week, just one year after the oil major’s lowest profits in more than a decade. The Anglo-Dutch oil group’s efforts to overhaul its portfolio during the depths of the oil market rout are expected to...... more

MultiChoice under probe over alleged illegal payments

MultiChoice under probe over alleged illegal payments The Independent Communications Authority of SA (Icasa) has confirmed to the Democratic Alliance that it will be conducting an investigation into MultiChoice. This follows a complaint lodged by the DA in November last year requesting that Icasa conduct an inquiry into payments made by MultiChoice to ANN7 and the SABC‚ allegedly...... more

Ford Foundation invests $200,000 in ICT for Made in Aba initiative

Ford Foundation invests $200,000 in ICT for Made in Aba initiative The Ford Foundation, a US based international development organisation, has adopted Abia State as a key partner state in Nigeria based on the quality of leadership the state enjoys now. Ford Foundation’s West Africa Programme Manager, Prof. Paul Nwulu, disclosed this when he visited the State Governor, Dr. Okezie Ikpeazu, in...... more

Kaduna Refinery shut down

Kaduna Refinery shut down The Kaduna Refining and Petrochemical Company (KRPC) has shut down operations on Jan. 15, due to the non availability of crude oil. The Executive Director, Services (EDS), of KRPC, Dr. Abdullahi Idris, disclosed this to the News Agency of Nigeria (NAN) in Kaduna. He said the refinery, whose Fuel Plant was...... more

CBN boosts forex market with $304.4m

CBN boosts forex market with $304.4m The Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Intervention Sales of the inter-bank foreign exchange market to the tune of $304,400,000. Figures obtained from the Bank indicate that the sum, as in previous interventions, were in favour of interests in the agricultural, airlines, petroleum products and...... more

 

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Football president George Weah puts Liberian army to the test

 

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