Hedging surge prompts ICB inquiry on Rupee moves
India’s central bank, concerned about the fastest growth in currency derivatives trading in more than three years, is asking overseas funds to prove they are not speculating on the rupee. Futures and...
View ArticleGhana delays plans to raise telecoms taxes
Ghana’s government has dropped plans for tax rises on the mobile networks in the country after politicians rejected the plans in the face of protests from the telecoms operators. The Communications...
View ArticleBMW extends sales lead over German rivals
BMW’s sales rose faster in June than at Audi and Mercedes as demand from China and the United States helped the German luxury car maker to extend a lead over its two main rivals in the first six months...
View ArticleNLNG loses N64bn as court stops NIMASA blockade
A Federal High Court sitting in Lagos on Monday again backed the Nigerian LNG Limited against the Nigerian Maritime Administration and Safety Agency by ordering the agency to end a blockade of the...
View ArticleFG pays pensioners N1.45bn monthly
The average monthly pension and arrears paid by the Federal Government to its pensioners in the Pay-As-You-Go pension scheme has risen from N1.35bn to N1.45bn in the last six months. Figures made...
View ArticleI’ll be satisfied when no Nigerian is hungry —Jonathan
President Goodluck Jonathan on Monday said his job as the leader of the country could only be complete when no Nigerian went to bed hungry. Jonathan made the submission at the opening of a two-day...
View ArticleElectricity consumers, NERC disagree on fixed charge increase
Electricity consumers on Monday complained about the increase in the fixed charges. While some described the development as unnecessary, others called for stable power supply before any increase in...
View ArticleFG, UNIDO inaugurate platform to boost investment
The Federal Government and the United Nations Industrial Development Organisation on Monday launched an Investment Monitoring Platform that would boost rapid industrialisation of the country. The...
View Article‘Diaspora Nigerians invested more than foreigners in 2012’
Nigerians in the Diaspora invested much more in the country than foreign direct investors last year, the Minister of Information, Mr. Labaran Maku, said on Monday. Maku, who spoke in Atlanta, Georgia,...
View ArticlePresident to seal $1.1bn Chinese infrastructure loans
The Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said President Goodluck Jonathan’s visit to China will finalise $1.1bn in low-interest loans for much-needed infrastructure, from airports and...
View ArticlePensioners shut Unity Bank over N4.3bn severance package
Banking activities on Monday came to a halt at Unity Bank Plc in Abuja following protests by pensioners of the defunct Bank of the North over their unpaid N4.3bn severance package. The protesters shut...
View ArticleStandard Chartered promotes Africa-India investments
Standard Chartered has said it will host this year’s annual African Chairman programme in India to promote economic growth and development in Africa and India. A statement from the bank on Monday said...
View ArticleCBN to partner Bill Gates on financial strategy
The Central Bank of Nigeria is to partner with the Bill and Melinda Gates Foundation for the effective implementation of the Nigerian National Financial Inclusion Strategy. The Governor of the CBN, Mr....
View ArticleAccess Bank UK grows asset
Access Bank Limited, United Kingdom, on Monday announced that its asset under management in the private banking and asset management business had increased by over 200 per cent to $18.5m by the end of...
View ArticleM&S clothing sales continue to fall
Marks and Spencer has reported a 0.3 per cent rise in underlying United Kingdom sales for the latest quarter, as strong food sales offset a fall in clothing sales, the British Broadcasting Corporation...
View ArticleMetro Taxi presents security van to residents
One of the newly introduced modern taxicab operators in Lagos, Metro Taxi, has given a new security patrol van to GRA Ikeja Residents Association to enhance security of lives and properties of the...
View ArticleEgypt shares gain on election timeline
Egypt’s stocks rose, rebounding from the biggest drop in almost a month, as the interim president set a timeline for new elections. Benchmark bonds slumped for a second day. The benchmark EGX 30 Index...
View ArticleFiat CEO ready to meet labour union chief
Italian carmaker Fiat Chief Executive Sergio Marchionne said on Tuesday he would meet the head of the Fiom labour union, possibly ending an unpopular rift with the union over the company’s 2011 labour...
View ArticleFRSC, ExxonMobil in joint safety campaign
The Federal Road Safety Corps and ExxonMobil have commenced a Pan-Nigeria road safety campaign as part of a series of road safety programmes to address the menace of road accidents. A statement on...
View ArticleAnti-labour practices: FG, PENGASSAN face-off lingers
Following the seven-day ultimatum issued by the Petroleum and Natural Gas Senior Staff Association of Nigeria to the Federal Government to address all anti-labour issues, the impasse remains unresolved...
View Article