Tag: business news
JMG To Handle MTN’s N1.3bn Network Upgrade
MTN Nigeria has awarded a £6million (N1.3billion) contract for the modernization of it mobile communications network in the country to…
Demand Implementation Of Oil Sector Audit Report —EITI
Extractive Industries Transparency Initiative, EITI, an international body that preaches transparency in the management of oil, gas and mineral resources,…
Exhibitors Woo New Power Sector Investors
Over 100 power product exhibitors from 16 countries were in Lagos last week to showcase the various products to new…
StarTimes Faces Fund Crisis
There are indications that StarTimes, the Chinese-owned digital payTV service provider is facing a financial crisis, which now hinders its…
Nigeria approves N15b cheap loans for farmers
Ayo Oluokun/Abuja Nigeria’s Federal Government has approved the grant of N15 billion, about $10m to the Bank of Agriculture (BOA),…
Dangote Cement profits jump in half year result
Dangote Cement Plc says its 2013 first half pretax profit surged by 52 percent to N107.7 billion ($670 million) from…
OPEC optimistic On Oil Demand Growth In 2014
World oil demand will pick up at a faster rate in 2014, the oil exporting cartel OPEC said on Wednesday,…
Samsung Unveils New Cameras
Samsung Electronics West Africa, has unveiled its line-up of high-performance smart cameras. The products, unveiled at an elaborate event in…
Loss of Lipitor clone dents Q1 profit of Ranbaxy
India’s biggest drugmaker Ranbaxy said Wednesday its quarterly net profit slid 90 percent, hit by the loss of exclusive rights…
Lafarge WAPCO’s profit rises in Q1
Lafarge WAPCO, the cement producer has recorded a 50 per cent rise in its first quarter profit for this year.…
Shell begins search for new CEO as Voser retires
Global energy giant Shell has begun the search for a new chief executive following the surprise announcement that incumbent Peter…
Britain avoids another recession
Britain avoided falling into a third recession since the 2008 global financial crisis after its economy grew by a better-than-expected…
EFCC Arraigns Indian Businessman Over N13m Fraud
The Economic and Financial Crimes Commission, EFCC, today arraigned an Indian Businessman, Patrick Fernadez before an Ikeja High Court over…
Alaba Suru Traders Protest Threat of Market Closure
Traders of Suru-Alaba Market, located along Lagos-Badagry Express way, recently stormed Alausa, Lagos State’s seat of power to protest against…
MFB Boss Gives Tips On How To Secure Loans
The Managing Director/Chief Executive Officer, Bosak Microfinance Bank, MFB, Mr. Kola Bello, has said that one of the ways small…
Profits plunge for Peugeot, Societe Generale
Embattled French auto giant PSA Peugeot Citroen announced Wednesday a massive net loss of five billion euros ($6.7 billion) for…
Governor Amosun dangles carrots to investors
Abiodun Onafuye/ Abeokuta Government of the Western Nigerian state of Ogun says its reform programmes and policies in all sectors…
China’s manufacturing expands
China’s manufacturing activity surged to a 19-month high in December, British bank HSBC said Monday, adding to signs of recovery…
Mutual Benefit Posts N10b Income
The Chairman of Nigeria’s Mutual Benefits Assurance Group, Mr Chamberlain Oyibo, on Thursday said the group recorded N10.1 billion gross…
Apple’s iPhone loses name battle with Mexico’s iFone
A Mexican telecommunications firm named iFone has declared victory in a trademark battle with Apple’s iPhone, exposing the US company…
Witness exonerates defunct Bank PHB CEO
A prosecution witness, Mr Benedict Omonua, on Tuesday exonerated a former Managing Director of Bank PHB, Francis Atuche, of the…
Sweet potato can replace wheat, says scientist
A Rwandan agricultural scientist, Mr Kirimi Sindi, has advised African countries to use sweet potato flour for confectioneries as an…
Brazil slaps $17.5m fine on Chevron for Rio spill
Brazilian authorities said Monday they were slapping a $17.5 million fine on US oil firm Chevron in connection with a…
Lottery can earn N360billion for Nigeria
Nigeria has the potential to earn at least N360 billion from lottery per annum, Director -General of the National Lottery…
Nigeria’s market records more gains
Twenty seven equities on the Nigerian Stock Exchange extended gains today with the banking stocks leading the way. Out of…
Orient refinery for completion next year
The management of Orient Petroleum Resources Plc (OPR), said its refinery, which would be sited at Nsugbe-Umuleri in Anambra, would…
Nestle plc, New Gold gain most as market resumes
Nestle Nigeria Plc, one of the highest priced stocks on Nigeria’s bourse packed on additional N11.03 weight today as the…
FCMB posts higher profits half year
First City Monument Bank (FCMB) has reported a 26 per cent increase in profit after tax for its half year…
NB Plc shareholders approve N22.69b dividend
Shareholders of Nigerian Breweries Plc have approved the payment of a total dividend of N22.69 billion for the financial year.…
7 illegal refineries destroyed in Niger Delta
A joint team of Army and State Security Service (SSS) personnel has destroyed seven illegal refineries located along the creek…