Oil: US wants Sudan, South Sudan cooperation
The United States has criticised Sudan and South Sudan for failing to resume oil exports that are vital for both economies, saying the delay undermines the peace process. The two African neighbours...
View ArticleAon launches weather reinsurance product
WASHINGTON: Aon Benfield has launched a new weather reinsurance product to protect insurers against adverse weather losses in the United Kingdom, Global Reinsurance can reveal. www.insurancetimes.co.uk...
View ArticleChina’s parliament to hear construction ‘blacklist’ inquiry
BEIJING: Members of Parliament will hear calls later for a full inquiry into claims of the blacklisting of workers on major public projects such as Crossrail and the Olympics, British Broadcasting...
View ArticleNSE admits IFC’s $50bn bond
The International Finance Corporation’s $50m bond was on Wednesday admitted into the Daily Official List of the Nigerian Stock Exchange. The bond, equivalent to N8bn, was issued by the corporation to...
View ArticleReliance shuts in eighth D6 well
India’s Reliance Industries has reportedly shut-in an eighth well at the D6 Block in the Krishna-Godavari basin, off the country’s east coast. Local media, according to Upstreamonline, reported that...
View ArticleCaza spuds New Mexico well
Texas-based Caza Oil & Gas has spudded a well on the Lennox prospect in Lea County, New Mexico. The Lennox State Unit 32-2H horizontal well is being drilled to a total vertical depth of 11,850...
View ArticleBPE awaits NCP approval to renegotiate Egbin sale
The Bureau of Public Enterprises is waiting to receive approval from the National Council on Privatisation to renegotiate the sale of the nation’s biggest power plant, Egbin Power Plc, to a consortium...
View ArticleUK unemployment total falls to 2.49 million
LONDON: The UK unemployment total has fallen to its lowest level for 18 months while the number of people in work has reached another record high, British Broadcasting Corporation reported on...
View ArticleLocal content law’ll promote indigenous participation – Minister
In a bid to create more jobs in the country through the Nigerian Content Act, the oil and gas industry will this year pursue greater patronage of local services and products, the Minister of Petroleum...
View ArticleAviva dividend cut could alienate shareholders – Investec
LONDON: Stockbroker reiterates ‘buy’ recommendation as it believes dividend is sustainable, www.insurancetimes.co.uk reported on Wednesday. Aviva risks “alienating many shareholders” if the current...
View ArticleSterling Bank partners group on rent finance facility
Sterling Bank Plc has announced a partnership with RSL Derivatives Global Services Limited to help Lagos residents solve their accommodation rent difficulties. The scheme, known as ‘rent-a-month’,...
View ArticleKMG EP appoints Nuseitov as chief executive
London-listed Kazakh explorer, KazMunaiGas Exploration Production, has appointed Abat Nurseitov as its new chief executive after the outgoing boss was appointed a regional governor. KMG EP’s board said...
View Article‘McDonald’s December sales help fourth-quarter profit’
CHICAGO: McDonald’s Corp reported an unexpected rise in sales in December at established United States restaurants, helping to lift its fourth-quarter profit above analysts’ estimates, Reuters reported...
View ArticleIGHF project: Net-Work advocates full Nigerian content
Net-Work Oil and Gas Limited, builders of the recently unveiled Oredo Integrated Gas Handling Facility, said the project was achieved with 100 per cent local content input. The facility is a major...
View ArticlePFAs make N140bn profit from pension fund investment
Pension Fund Administrators made a profit of N140.19bn from trading with funds in the Retirement Savings Accounts of contributors under the Contributory Pension Scheme in the last two years. The amount...
View ArticleStill no timetable for returning Boeing 787 to flight
Japanese regulators have joined their United States counterparts in all but ruling out overcharged batteries as the cause of recent fires on the Boeing Co 787 Dreamliner, which has been grounded for a...
View ArticleWhy insurance patronage is low in Nigeria – Jegede
The Managing Director, NICON Insurance Plc, Mr. Emmanuel Jegede, has blamed the poor economic situation in the country for the low insurance patronage. He said this during an interview on the sidelines...
View ArticleChinese firm linked to Caterpillar fraud
A Chinese mining equipment company at the centre of an alleged accounting fraud was also involved in a web of insider loans and asset transfers prior to its purchase by Caterpillar Inc., public filings...
View ArticleGlobal stocks climb higher
World stock markets rose on Thursday and United States stocks extended a six-day rally, sailing through the headwind of a revenue miss from Apple, while the yen resumed its drop and oil prices gained....
View ArticleIndustrialist seeks capacity utilisation in steel sector
Except key sectors of the economy, especially the agriculture, partner the steel industry, it may be difficult to enhance local capacity in the area of canned food processing in the country, the Group...
View Article