China’s stocks fall to two-week low
China’s stocks fell to a two-week low as concerns that the Federal Reserve will pare stimulus overshadowed a better-than-estimated manufacturing report. Bloomberg News reports that Inner Mongolia...
View ArticleChile’s strike closes world’s top copper mine
Some 2,500 workers at the world’s biggest copper mine, in northern Chile, have begun an unannounced strike over pay and other demands. The strike at the Escondida mine was initially planned to last 24...
View ArticleFG raises N55bn from debt market
The Federal Government raised a total of N55bn from the debt market in July, it was learnt on Thursday. This amount represents an increase of 34.19 per cent or 164 per cent over N20.81bn borrowed by...
View ArticleNaira declines to one-month low
The naira fell the most in a month against the dollar, snapping two days of gains, on speculation that sales of the United States currency by companies in the West Africa’s biggest economy eased....
View ArticleWhy we chose Ondo for communication conference – Minister
The Minister of Communication Technology, Mrs. Omobola Johnson, said Ondo State was chosen for the ongoing communication stakeholders’ national conference because of the state government’s bias for...
View ArticleOil theft: N125.78bn revenue shortfall recorded in July
The Federal Government on Thursday released the gross revenue for the month of July, stating that the country recorded N125.78bn drop in budgeted income. While the Federal Government had projected to...
View ArticleInvestors in power firms can take possession –FG
The Federal Government on Thursday said the preferred bidders for the power generation and distribution companies who met the deadline for the payment of the 75 per cent balance of their bid prices...
View Article2013 budget: Capital releases hit N850bn
The Federal Government on Thursday released a fresh N250bn to Ministries, Departments and Agencies for the implementation of their third quarter capital projects captured in the 2013 budget. The...
View ArticleNERC insists on yearly increase of electricity tariff
The Nigerian Electricity Regulatory Commission has said there is no going back on the yearly increase in electricity tariff as envisaged by the Multi Year Tariff Order despite the inability of the...
View ArticleElumelu applauds Transcorp’s involvement in power sector
The Chairman, Transnational Corporation of Nigeria Plc, Mr. Tony Elumelu, has explained that the participation of the conglomerate in the power sector reform initiative of the Federal Government is to...
View ArticleNigerian content: Indigenous upstream participation exceeds 30%
Indigenous exploration and production companies now control over 30 per cent of the upstream segment of the country’s oil and gas industry, the Group Executive Director, Exploration and Production,...
View ArticleWe need to grow the capital market locally – Fakayejo
Mr. Rotimi Fakayejo is the Managing Director, Enterprise Stockbrokers Plc. In this interview with SIMON EJEMBI, he talks about current issues in the stock market, while giving an insight into his...
View ArticleSURE-P intervention in rail modernisation now N32bn
Over N32bn has so far been spent on the railway modernisation project by the Federal Government under the Subsidy Re-Investment and Empowerment Programme. The figure was given by the Convener, Railway...
View ArticleDMO to ensure judicious use of $1bn Eurobond
The Director-General, the Debt Management Office, Dr. Abraham Nwankwo, has said the power projects for which the country recently secured a $1bn Eurobond will be judiciously monitored. The $1bn...
View ArticleMarket capitalisation rises by N5bn
Activities on the Nigerian Stock Exchange continued on a positive note on the last trading day of the week. At the close of trading, the NSE’s All-Share Index rose by 0.04 per cent or 13.39 basis...
View ArticleAgency to drive industrial development needed –Aganga
The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said it is important for industrial development to be driven by a specific agency. He said this in Ibafo, Ogun State on Friday...
View ArticleMicrosoft board hunts for new CEO
Microsoft Corporation’s next chief executive officer will need the expertise and strategic vision that can help the biggest software maker confront a broad range of threats that Steve Ballmer, for all...
View ArticleDelta allocates land for cassava production
Delta State Governor, Emmanuel Uduaghan, has allocated 25 hectares of land for the establishment of a cassava processing plant in Abraka and an additional 6,000 hectares for the development of...
View ArticleIndian bank profits may close lower
Indian banks’ profitability, already at the lowest since 2009, is poised to decline further after measures to stem the rupee’s record slump drove up borrowing costs and exacerbated rising bad loans and...
View ArticleReserved bidder may take over Enugu power firm
The Reserved bidder for the Enugu Electric Distribution Company may take over the power firm soon despite alleged lobbying by the preferred bidder after it failed to meet the stipulated payment...
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