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US stocks retreat on Eurozone concerns

Stocks dipped on Wednesday as soft demand at an Italian debt auction kept concerns about the financial stability of the euro zone at the center of investor focus. Reuters reports that the stalemate...

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Diamond Bank gives N70bn loans to 30,000 SMEs

The management of Diamond Bank Plc said on Wednesday that it had given out N70bn loan facilities to operators of Small and Medium Enterprises across the country in the last four years. The Head, Micro,...

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Seven Energy increases gas investment to $825m

Seven Energy International Limited, an independent Nigerian oil and gas exploration, development and production company founded in 2004, has increased its gas investment in the country to $825m. The...

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FG offers Omotosho power plant to CMEC-Pacific

A subsidiary of the China Machinery Engineering Corporation, CMEC-Pacific, has been offered the Omotosho Power Plant at a price of $217.53m. A statement issued by Head of Public Communication, Bureau...

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Stanbic IBTC reconnects with customers

Stanbic IBTC Bank, a member of Stanbic IBTC Holdings, has unveiled an integrated brand repositioning campaign on how its customers can benefit from a new world of opportunities in banking. According to...

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Budgeting process can’t promote economic development – NIM

The Nigerian Institute of Management has picked holes in the budgeting process of the Federal Government, saying it will be difficult for the citizens to feel the impact of budgeting if identified...

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Allianz strikes $883m deal, now top Turkish insurer

FRANKFURT: Europe’s biggest insurer Allianz has secured the top spot in Turkey’s fast-growing insurance market by agreeing to buy Yapi Kredi Sigorta  for about 1.6 billion Turkish lira ($883m,...

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Sweet Sensation opens new outlet in Magboro

Popular quick-service restaurant, Sweet Sensation, has opened a new outlet in Magboro, Ogun State. According to the Marketing Manager, Mr. Yemy Yusuf, the new outlet, located on Lagos-Ibadan Expressway...

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Transcorp indicates plans to raise N15bn

Transnational Incorporated Plc has announced plans to raise N15bn from the capital market. The company said the fund, which will likely be raised through Rights Issue, would be used for the expansion...

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Global stocks rise after Cyprus banks reopen

Major stock markets recovered, with the benchmark S&P 500 stock index traded above its record closing high, and the euro edged off a four-month low on Thursday, as banks in Cyprus reopened to...

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Consumers urged to protest bad products, services

Many consumers in the country are docile and fail to seek redress from appropriate authorities when they buy defective products or receive poor services. This was the position of stakeholders at an...

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Winners emerge in Lipton promo

Unilevers Nigeria Plc, makers of Lipton, have released the names of the winners in its recently concluded Lipton switch on and win promo. During the presentation of the prizes to some of the winners in...

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Spill: Govt agencies want Shell to pay $11bn compensation

Two Federal Government agencies on Thursday at a parliamentary hearing demanded $11.5bn compensation from Royal Dutch Shell for the damage caused by an oil spill at its offshore Bonga field in December...

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FIIRO DG canvasses passage of bill on cassava

A call has gone to the National Assembly to pass into law a bill on compulsory inclusion of cassava flour in bread and confectioneries for economic growth and development. The Director-General/ Chief...

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Govt urged to initiate investor-friendly policies

Africa’s foremost specialised retail brand, CFAO Group, has called on the Federal Government to introduce investor-friendly policies and create an enabling environment that will lead to sustainable...

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Reps insist on zero allocation to SEC

The House of Representatives has warned the management of the Securities and Exchange Commission, not to spend any fund on its operations this year unless approved by the National Assembly. The warning...

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Intercontinental Distillers advocates cultural renaissance

Intercontinental Distillers, Ota, has advocated cultural renaissance as a vehicle for social development. This was stated in the goodwill message delivered by the Sales Operations Manager of the...

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CBN cancels N100 monthly ATM maintenance fee

Apparently bowing to public outcry, the Central Bank of Nigeria on Thursday announced the cancellation of the N100 monthly Automatic Teller Machine card maintenance fee introduced by some banks...

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Keystone Bank deploys software to enhance operations

Keystone Bank Limited has deployed top banking technology software from IBM to enhance and record significant improvement in its operations The Managing Director/Chief Executive Officer, Keystone Bank,...

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Credit Suisse buys Morgan Stanley’s European wealth arm

Credit Suisse is buying Morgan Stanley’s wealth management arm in Europe, the Middle East and Africa, acquiring $13bn in assets in a move to offset exposure to more volatile investment banking, Reuters...

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