UK government bonds hit 2% barrier
The interest rate on United Kingdom Government debt has risen above the per cent mark for the first time since last spring. The jump in yields on the benchmark 10-year gilt have risen from just over...
View ArticleNokia produces 14 millionaires in Asha Xmas promo
Leading mobile phone manufacturer, Nokia, has unveiled the first set of 14 winners in the ongoing Nokia Asha Christmas Millionaire promo. According to a statement on Thursday, the lucky winners include...
View ArticleHouse prices lose ground in 2012 — Report
The Nationwide said house prices fell 0.1 per cent in the month of December 2012, compared to no change in November, and slightly weaker than forecast by economists. Prices were also one per cent lower...
View ArticleWorld stocks remain steady on budget concerns
World stocks stalled on Thursday as traders were cautious after equities hit an 18-month high, on concerns about more budget wrangling in Washington, Reuters reported on Thursday. Data suggesting some...
View ArticleNigeria behind Kenya, Tanzania in mobile banking – Report
Kenya, Tanzania, Uganda and South Africa are ahead of Nigeria in mobile banking usage/adoption in Africa, a report by the global market research company, TNS, has revealed. The report titled;...
View ArticleMore oil may be discovered in Lagos —Geologists
Geologists have said there are strong indications that Lagos State will have more oil and gas discoveries in the next two to three years. The geologists, who spoke to our correspondent in separate...
View ArticleZero allocation: SEC may shelve dematerialisation awareness campaign
The Chairman, Securities and Exchange Commission’s Committee on Dematerialisation, Mr. Emeka Madubuike, has said the commission may shelve the nationwide dematerialisation awareness campaign scheduled...
View ArticleN221bn stolen pension fund recovered in 2012 – PRTT
The Pension Reform Task Force Team said it recovered a total of N221bn pension funds stolen by some operators of the old pension scheme in 2012. The funds were part of the money set aside by the...
View Article‘NNPC earned N686bn from refined products in 2012’
The Nigerian National Petroleum Corporation realised N686.44bn from the sale of refined products from country’s three refineries in 2012. Details of the revenues and expenditures of the refineries were...
View ArticleVIPs shun charter airlines using old planes
Charter airline operators with relatively old planes in their fleet have lost a significant number of their clients after the June 3, 2012 tragic crash involving a 22-year-old Dana Air plane triggered...
View ArticleIntrigue takes over in cement production, supply, pricing
Evolving trend in the cement industry in Nigeria is fast assuming an intriguing dimension among the various stakeholders, as politics penetrates issues of demand, supply and pricing. LAYI ADELOYE...
View ArticleSON to control optical emission in steel production
The Standard Organisation of Nigeria has said that all new and existing steel companies must produce their products to meet the minimum requirements using optical emission spectrometer. The Head of...
View ArticleNext raises profit target as Christmas sales beat estimates
Next Plc, the United Kingdom’s second-largest clothing retailer, said full-year profit will at least be at the higher end of its forecast after Christmas sales beat estimates, Bloomberg has reported....
View ArticleHormel buys Unilever’s Skippy peanut butter for $700m
Hormel Foods Corporation agreed to buy Skippy, the iconic United States peanut butter brand, from Unilever Plc for $700m, adding the well-known kids lunch staple to a portfolio that includes Spam...
View ArticleStarbucks introduces $1 reusable cup
Starting Thursday, Starbucks customers will have the option to save their planet — and their wallets — a dime at a time. The coffee giant is offering $1 plastic cups, which can be reused for drink...
View ArticleGap moves into luxury market with Intermix buy
Gap Incorporated, which owns clothing retailers Banana Republic and Old Navy as well as its namesake brand, expanded into the luxury market with its purchase of women’s apparel retailer Intermix Holdco...
View ArticleLaw Union and Rock pays N1.2bn claims
Law Union and Rock Insurance Plc said on Thursday that it paid over N1.2bn claims to its policy holders within the first three quarters of 2012. In a statement, the firm said the claims payment cut...
View ArticlePrivate sector job gains offer hope
Private-sector employers shrugged off a looming budget crisis and stepped up hiring in December, offering further evidence of underlying strength in the economy as 2012 ended, Reuters reported. While...
View ArticleDeposits stable in euro zone periphery – ECB
Consumers and firms’ deposits in banks in troubled euro zone member states remained mainly stable in November, European Central Bank data showed, indicating that worst fears of bank collapses or even a...
View ArticleIncrease in lending rate’ll dampen credit creation – Analysts
Experts have said the successive increase in the lending rate in 2012 by the Central Bank of Nigeria will dampen credit creation in the economy. The experts, who spoke with our correspondent on...
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