US stocks rise as investors weigh Bernanke testimony
US stocks rose, after the Standard & Poor’s 500 Index snapped an eight-day rally yesterday, as Federal Reserve Chairman Ben S. Bernanke said the pace of bond purchases was not on a preset course....
View ArticleInsurers woo artisans, petty traders with soft loans
Insurance firms may have found a way round the relative unpopularity of their services among operators in the informal sector of the nation’s economy by offering artisans and petty traders soft loans...
View ArticleScottish unemployment rises by 8,000
SCOTLAND: Unemployment in Scotland has increased for the first time this year, according to the latest official figures. The British Broadcasting Corporation reported on Wednesday that the number of...
View ArticleReps committee report on OPL 245 compromised —Adoke • It’s our duty to...
The Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Adoke (SAN), on Wednesday alleged that the report of the ad hoc committee of the House of Representatives was authored by...
View ArticleSanusi wants naira redesign revisited
The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, on Wednesday made a case for the revisit of the suspended naira redesigning project earlier proposed by the bank. Sanusi made the case...
View ArticlePipeline closure: Shell lost N14.5bn in six days
Shell Petroleum Development Company Joint Venture has lost $90m (N14.6bn) in six days following the closure of Trans Niger Pipeline. The Manager, Corporate Media Relations, SPDC, Mr. Tony Okonedo, on...
View ArticleGlobal shares gain, euro falls
Stock markets around the world rose on Wednesday after Federal Reserve Chairman Ben Bernanke said the timeline for the United States central bank ending its stimulus program this year was not set in...
View ArticleBrent prices slip below $108
Brent crude oil slipped below $108 a barrel on Wednesday as the dollar gained ahead of eagerly awaited word from chairman Ben Bernanke on the US Federal Reserve’s plan to roll back its monetary...
View ArticleHeathrow submits third runway plan to Davies Commission
LONDON: Heathrow Airport has unveiled three options for a new runway, saying each one would be “quicker and cheaper” than plans for a rival hub airport, the British Broadcasting Corporation reported on...
View ArticleHigh streets report surge in sales
LONDON: Scottish retailers have reported the strongest growth in sales for more than two years, the British Broadcasting Corporation reported on Wednesday. Figures released by the Scottish Retail...
View ArticleEnergia Ebendo field hits 5,700 barrels per day
An indigenous exploration and production company, Energia has achieved a milestone daily production of 5,700 barrels of oil per day in her Ebendo field operation (OML 56) located onshore of the...
View ArticlePHCN: Ikeja business unit laments N3.1bn debt
The Ikeja Business Unit of the Power Holding Company of Nigeria has condemned the rising customer debt totalling N3.1bn in the area. Speaking during a consultative council meeting held with its...
View ArticleLagos, Chinese firms sign offshore devt pact
The Federal Government has brokered a major partnership between the Lagos Deep Offshore Logistics services provider and the Chinese Offshore Oil Engineering Company Limited for offshore development in...
View ArticleeBay profits fall on EU, Asia woe
Online retailer and auction site eBay has warned of economic “headwinds” in Europe and South Korea after an 8 per cent slide in second-quarter profits. The firm reported net income of $640m (£421m) for...
View ArticleECB takes lending step to help small businesses
The European Central Bank moved on Thursday to get more money to the euro zone’s struggling small businesses, letting banks use more of the assets once blamed for triggering the financial crisis as...
View ArticleCash ‘n’ Carry berths in Ibadan
Cash ‘n’ Carry, marketers of electronics and household appliances, has expanded its business with an outlet in Ibadan. The organisation which has been in existence for over five decades in Nigeria...
View ArticleMAN rewards Lucky Fibres for neatness
Lucky Fibres Plc, makers of Nobel premium brand of carpets and rugs has been awarded Best-kept Industrial Premises 2013 by the Manufacturers Association of Nigeria. A gold medal was recently presented...
View ArticleRamadan: Indomie takes meal to mosques
Dufil Prima Foods Plc, makers of Indomie noodles, has disclosed plans to feed about 2.5 million Muslims across the nation by serving noodles in the evening throughout the period of Ramadan. Public...
View ArticleSweet Sensation unveils sub-brand
Sweet Sensation Confectionery has unveiled a product called SS Feli-Feli, described as the freshest sub-brand of the company. According to a statement by the company on Thursday, the brand berthed in...
View ArticleExternal reserves drop to five-month low at $46bn
The country’s external reserves have dropped to a five-month low of $46.96bn, data from the Central Bank of Nigeria has shown. The foreign reserves had been hovering between $47bn and $48bn marks since...
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