Foreign consortium plans fresh $100bn investment in Nigeria
The investment drive of the Federal Government has received a boost as a team of foreign investors has indicated their intention to invest $100bn (N15.8tn) in key sectors of the Nigeria economy. This...
View ArticleEtihad introduces daily flights on Abu Dhabi-Belgrade route
The national airline of the United Arab Emirates, Etihad Airways, has said it will commence daily nonstop flights between its home base of Abu Dhabi and Belgrade, the capital of Serbia, from June 15,...
View ArticleProsecute maritime criminals –US envoy
The United States Consul General in Lagos, Mr. Jeff Hawkins, has said maritime criminals, including oil thieves and sea pirates, must be prosecuted and severely punished to restore safety to the...
View ArticleNigerians spent N334.34bn on petrol in Q1 —Report
Nigerians may have spent about N344.34bn on petrol in the first quarter of this year going by consumption figures supplied by the Petroleum Products Pricing Regulatory Agency. The Executive Secretary,...
View ArticleDon’t be greedy over resources, Indonesia warns multinationals
Indonesia’s president told major investors in his country’s natural resources not to be greedy, comments that suggest he is in no mood to row back on policies that foreign mining and energy firms have...
View Article7% tax contribution to GDP unacceptable – Okonjo-Iweala
The Minister of Finance, Dr. Ngozi Okonjo-Iweala has said the nation’s tax to Gross Domestic Product ratio of seven per cent of GDP is not sufficient to build a strong economy. Okonjo-Iweala said this...
View ArticleMarket capitalisation falls by N2bn
The equities section of the Nigerian Stock Exchange closed on a negative note on Tuesday, as major indicators recorded marginal losses. Specifically, the market capitalisation of the listed equities...
View ArticleUS immigration bill could slow Indian outsourcers
Low cost efficiency put India’s outsourcing companies at the heart of global business and created a multibillion dollar industry that for years has skated over criticism it was eliminating white collar...
View ArticleSingle digit inflation may persist throughout 2013 –Analysts
Financial analysts have said that the single digit inflation rate being witnessed in the country may persist throughout the year. FSDH Merchant Bank Limited in a report made available to our...
View ArticleHyundai Motor profits drop 15%
South Korea’s Hyundai Motor has reported a 15 per cent drop in first quarter profit, after being hit by industrial action and the strength of the won. The British Broadcasting Corporation reports that...
View ArticleBritain avoids recession with faster than expected growth
Britain skirted a “triple dip” recession by growing faster than expected in the first three months of the year, providing some cover for a government under fire over its austerity drive, Reuters...
View ArticleGlobacom to upgrade network with $750m
Indigenous telecoms operator, Globacom, has signed a Memorandum of Understanding worth $750m (about N116.8bn) with Chinese telecoms infrastructure provider, Huawei, to upgrade and expand its network....
View ArticleFirm to create 250,000 jobs through cassava project
The Linland Group, an agricultural consulting firm, says it will provide 250,000 jobs in Ebonyi State through an integrated cassava project. Spokesperson for the firm, Mr. Obi Ezenwa, said this on...
View ArticleApple profits fall for first time in a decade
Computer and smartphone maker Apple has reported its first quarterly drop in profits in a decade, but said it will raise dividends for shareholders. According to a British Broadcasting Corporation...
View ArticleAccess Bank records 78% drop in unclaimed dividend
Access Bank Plc has announced a drop by 78 per cent in its unclaimed dividend in the last one year. This is coming on the heels of a declaration by the Securities and Exchange Commission, that the...
View ArticleExxon quarterly profit up slightly
Exxon Mobil Corp said on Thursday its quarterly profit edged up, helped by higher earnings in its chemicals business but oil and gas production fell, Reuters report. First-quarter profit for the...
View ArticleGoogle offers clearer search labels after EU probe
Google has agreed to alter its search results in the light of a European investigation into whether it unfairly promoted its own services. According to a British Broadcasting Corporation report, the...
View ArticleNigeria saves N4.2tn on manufactured goods importation –Aganga
Nigeria has recorded a significant improvement in its import trade figures as it saved N4.2tn in 2012 owing to a decrease in the importation of manufactured goods. The Minister of Industry, Trade and...
View ArticleBoeing profits beat estimates despite Dreamliner crisis
Boeing’s first-quarter profits beat analysts’ forecasts despite the grounding by airlines of its 787 Dreamliner due to battery problems. According to a British Broadcasting Corporation report, net...
View ArticleTime Warner Cable revenue misses as data services disappoint
Time Warner Cable Inc, the second-largest United States cable operator, reported first-quarter revenue below analysts’ estimates as it added fewer-than-expected subscribers for its high-speed data...
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