IFC invests in Indorama Eleme Fertiliser company
Iinternational Finance Corporation, a member of the World Bank Group, on Tuesday announced an investment in Indorama Eleme Fertiliser Company, which is based in Port Harcourt, Rivers State. It is meant...
View ArticleUS stocks retreat from five-year high
United States stocks slipped from five-year highs after the Standard & Poor’s 500 Index reached the most expensive valuation since July 2011 and investors awaited minutes of the Federal Reserve’s...
View ArticleUnemployment in Wales rises by 6,000 — ONS
WALES: Unemployment in Wales has risen by 6,000, in contrast to the United Kingdom jobless total which fell, official figures show. The British Broadcasting Corporation reported on Wednesday that the...
View ArticlePIB: Shell advises NNPC on joint ventures
Shell Nigeria has said the Nigerian National Petroleum Corporation must be able to fund its share of joint venture costs if it is going to attract the required external investment and partnership, as...
View ArticlePirates attack vessel off Nigerian coast
Pirates have reportedly boarded a vessel off the coast of Nigeria’s Brass oil region in the latest of such attacks. The International Maritime Bureau was quoted by upstreamonline.com as saying in an...
View ArticleIndonesia votes against Petrodelta buy
The government of Indonesia has voted not to approve the purchase by state player PT Pertamina of Harvest Natural Resources’ Venezuelan assets for $725m. The Houston-based explorer said that the share...
View ArticleAgeas UK makes profit despite broking dip
LONDON: Ageas United Kingdom made a 2012 net profit before exceptional items of £82.9m, up 11per cent on the £74.7m it made in 2011, www.insurancetimes.co.uk reported on Wednesday. The profit came on...
View ArticleTechnip bags BP Angola gig
French engineering company, Technip, has been awarded a five-year contract by BP’s Angolan subsidiary for engineering and modification services. The contract will see Technip carry out engineering and...
View ArticleUIB hires Willis marine director
NEW YORK: Independent reinsurance broker United Insurance Brokers has appointed Spencer Crane as associate director to its marine division, www.insurancetimes.co.uk reported on Wednesday. Crane, who...
View ArticleBrass LNG project gets 36 certifications
Prior to the taking of the Final Investment Decision for the Brass Liquefied Natural Gas project, the Nigeria Content Development and Monitoring Board has already issued 36 certifications on the...
View ArticleShareholders approve Flour Mills, BAGCO merger
The proposed merger scheme between Flour Mills of Nigeria Plc and Nigerian Bags Manufacturing Company Plc has received shareholders’ approval. A statement by Flour Mills on Wednesday, said that the...
View ArticleReps ask CBN to implement single-digit lending rate
The House of Representatives on Wednesday pushed for a single-digit benchmark lending rate in the country’s banking industry. It directed its Committee on Banking and Currency to engage the Central...
View ArticleDana crash: Victims’ relatives get N418.75m insurance claims
Relatives of 85 out of the 153 victims of the Dana Air crash of June 3, 2012 in Iju area of Lagos State have been paid N418.75m insurance claims. The Managing Director, Prestige Assurance Plc, the...
View ArticleStates lack emergency response structure to flooding –ActionAid
Despite the havoc wreaked by last year’s flooding and predictions of similar situations in 2013 by the Nigerian Meteorological Agency, many states in the country are still ill-prepared to manage such...
View ArticleLocal content law needs expansion –Dickson
Bayelsa State Governor, Mr. Seriake Dickson, on Wednesday called for the expansion of the boundaries of Nigeria’s local content law to give more business opportunities to residents of oil-producing...
View ArticleFirst Trustees’ series
To help minimise fighting among family members over the sharing of assets of deceased members, First Trustee Nigeria Limited will be running a series in The PUNCH every Thursday for the next 13 weeks....
View ArticleFG urged to inaugurate Financial Reporting Council board
A former President of the Association of National Accountants of Nigeria, Dr Samuel Nzekwe, has asked the Federal Government to inaugurate the Board of Financial Reporting Council of Nigeria without...
View ArticleNaira rises to highest in one week
The naira appreciated for a second day, reaching its highest in more than a week, as dollar inflows into the nation’s fixed-income securities boosted supply. According to Bloomberg, the currency of...
View ArticleWorld Bank advises C’River communities on project safety
The Task Force Team to the South-South Joint World Bank/Federal Government Supervision Mission on Fadama 111 Project has charged communities in Cross River to ensure safety of facilities in their...
View ArticleSpain’s Prime Minister eyes growth
Prime Minister Mariano Rajoy pledged on Wednesday to pull Spain out of its painful recession without relaxing his drive to cut the country’s high public deficit, Reuters reported. He struck a difficult...
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