‘Tokyo Electron takeover could be a mold-breaker for Japan’
TOKYO: Applied Materials Inc’s $10bn acquisition of Tokyo Electron Ltd is more than just a milestone foreign takeover in Japan — it’s a rare forward-looking deal in a country where selling to an...
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NNPC invites investors for $15bn Ogidigben gas project
The Nigerian National Petroleum Corporation is calling on more investors to participate in the Ogidigben Industrial Park project in Delta State. The Group Managing Director, NNPC, Mr. Andrew Yakubu,...
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Private jet owners to pay $4,000 luxury tax
The Federal Government has imposed a luxury tax on private jet owners and operators in the country. As a result, the Nigeria Civil Aviation Authority has directed the owners and operators of private...
View ArticleNERC meets power firm investors over rules
Ahead of the proposed transfer of the privatised electricity firms to their new owners on October 1, the Nigerian Electricity Regulatory Commission will today (Thursday) meet with the core investors in...
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FEC approves N29.7bn for road, water projects
The Federal Executive Council on Wednesday approved water and road projects valued at a total of N29.7bn, including a contract for the construction of a dual carriageway linking Abuja to Kaduna State...
View ArticleSON claims receipt of 26% of capital vote
The Standards Organisation of Nigeria on Wednesday said it had only received 26 per cent of its capital vote for the 2013 fiscal period. The Director-General, SON, Dr. Joseph Odumodu, gave out the...
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Faulty power cable throws Lagos airport into darkness
The Murtala Mohammed International Airport, Lagos was thrown into darkness on Tuesday and Wednesday due to a burnt power cable. Findings by our correspondent on Wednesday revealed that some facilities...
View ArticleDomestic investors urged to strengthen capital market
Domestic investors can reduce the dominance of foreign investors in the Nigerian capital market by participating more, Capital Bancorp Plc has said. The Chairman, Capital Bancorp, Mr. Olutola...
View ArticleTrading commences on new platform next week – NSE
The Nigerian Stock Exchange has said it is set to commence trading activities on its new trading platform called X-GEN from next week. A statement made available to our correspondent on Tuesday quoted...
View ArticleGerman bond yields decline to six-week low
German 10-year government bonds rose, with yields falling to the lowest in six weeks, on bets the European Central Bank will consider further stimulus even amid signs of a strengthening euro-area...
View ArticleUS stocks dips for fifth day
United Statesstocks edged lower on Wednesday, putting the Standard and Poor’s 500 on track for a fifth straight day of losses, as the lack of progress in Washington threatened a government shutdown in...
View ArticleSteinberg faces insider trading trial
A trial starting this week will provide a window into what prosecutors have called a decade-long insider trading scheme at Steven A. Cohen’s once-powerful SAC Capital Advisors hedge fund. According to...
View ArticleDealDey lauds growth of e-Commerce in Nigeria
DealDey, a group-buying site that offers its members in Lagos discounted deals on a range of products and services, has described as successful the Nigeria’s electronic commerce industry. Online...
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We all shared $5bn ECA fund —FG
The Federal Government on Monday denied an allegation made by the Rivers State Governor, Mr. Rotimi Amaechi, that $5bn was missing from the Excess Crude Account. It stated that the governor could not...
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NAMA imposes $3,000 fee on non-scheduled airline operators
The Nigerian Airspace Management Agency has announced that airlines involved in non-scheduled operations will pay up to $3,000 as fees. This was contained in ‘aeronautical information’ circular for all...
View ArticleChinese stocks jump on reforms
China’s stocks rose, with the benchmark index for mainland companies in Hong Kong surging the most since December 2011, after the government pledged to ease the one-child policy and boost private...
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‘Retail market attracted N205.4bn investment in two years’
Nigeria has attracted investment of about N205.4bn ($1.3bn) into the retail sector in the last two years, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said. Aganga spoke...
View ArticleKaymu doubles sellers’ monthly turnover
Kaymu.com.ng, an online marketplace in Nigeria, has doubled the monthly turnover of sellers on its platform. The site, according to a statement by its operators on Monday, was created out of the need...
View ArticleUK directors’ pay jumps by 14%
Total pay for the directors of the United Kingdom’s top businesses rose 14 per cent over the past year driven by a huge jump in share-based long term incentive payments, a pay research company has...
View ArticleLloyds sells SWIP to Aberdeen for £660m
Lloyds Banking Group PLC is selling its fund management arm Scottish Widows Investment Partnership to Aberdeen Asset Management for around £660m ($1.1bn). Reuters reported that the transaction will...
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