PwC predicts greater success for Nigeria’s entertainment industry
The PricewaterhouseCoopers (PwC) has projected Nigeria to be among the world’s fastest-growing Entertainment and Media (E&M) industry in the next…
Month: February 2020
Bitfxt raises N5.45 billion from UK firm
Bitfxt, a Nigerian cryptocurrency startup, has raised N5.45 billion from Payitup clearinghouse Ltd. The amount, which was raised in a…
NCC approves 1,492 phone brands, warns users against unapproved devices
No less than 1,492 different brands and models have been approved by the Nigerian Communications Commission (NCC) for use in the country.…
SON faces resistance from importers of fake products
The Standards Organisation of Nigeria (SON) may have come under pressure from dealers of fake and sub-standard products following the…
DISCOs have failed in electricity supply ― FG
THE Federal Government yesterday said that Distribution Companies, DISCOs have failed in supplying adequate electricity to Nigerian consumers. The government…
US solar jobs have risen 167% since 2010, new data shows
The solar industry in the U.S. employed 249,983 people in 2019, a 2.3% increase compared to the previous year, according…
UK inflation unexpectedly hits six-month high in January, pushed up by fuel prices
British inflation unexpectedly struck a six-month high in January, pushed up by higher petrol prices and a smaller-than-usual drop in…
Senate invites Bigi and Pepsi manufacturers, as stiff competition continues
Popular soft drinks manufacturers, Messrs 7-Up Bottling Company, makers of Pepsi, and Rites Foods Limited, makers of Bigi drinks were recently invited by…
Wema Bank clears the air on alleged contempt suit
The management of Wema Bank has cleared the air on the alleged contempt suit that was earlier filed against it by…
Nigeria lost $750 million to crude oil theft in 2019 – NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said Nigeria lost about $750 million to crude…
Asia markets bounce back as investors monitor China’s return to production
Asia markets mostly recovered on Wednesday after tumbling a day before, with investors closely monitoring China’s progress in returning to…
Continued border closure not sustainable – MAN
The Manufacturers Association of Nigeria has said that the continued closure of the country’s land borders is unsustainable as many…
SIFAX, SAHCO plan expansion across Africa
IFAX Group, the parent company of Skyway Aviation Handling Company Plc has said it plans to expand its operations into…
Accountant General fails to explain N2.9bn IPPIS funds, Senators kick
The Senate Public Accounts Committee adjourned abruptly on Tuesday following the inability of the Office of the Accountant General of…
Diverted flights: Some Nigerian passengers return by road
Some Nigerians stranded in Accra, Ghana after their flights were diverted due to inclement weather at the Murtala Muhammed International…
ICRC commends Sifax on concession agreement
THE Infrastructure Concession Regulatory Commission has commended the management of SIFAX Group for its level of compliance with the terms…
Shipping industry operators rally support for SON
THE leadership of the Association of Nigeria Licensed Customs Agents, ANLCA, has pledged to partner with the Standard Organisation of…
Petroleum products, bulk wheat dominate cargo throughput
REFINED petroleum products still dominate the nation’s import chart as over 316,247 metric tonnes of different refined petroleum products were…
Bill Gates bought himself a Porsche over a Tesla — and Elon Musk just called him ‘underwhelming’
Elon Musk isn’t impressed with fellow billionaire entrepreneur Bill Gates. After Gates said he bought himself an all-electric Porsche Taycan, Tesla’s CEO took…
US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says
The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to…
Nasdaq rises, heads for record close as Apple shares cut losses
The Nasdaq Composite traded slightly higher on Tuesday as gains from Netflix and Google-parent Alphabet offset a drop in Apple shares. The…
GM, Fiat Chrysler and Toyota resume auto production in China
General Motors, Fiat Chrysler and Toyota Motor on Tuesday confirmed that they’ve reopened their factories or are beginning to restart production in China following…
Nigeria’s GDP forecast for 2020 to drop – IMF
The International Monetary Fund (IMF) has reviewed its projected GDP for Nigeria from 2.5% to 2% in 2020. The global lender…
CBN’s forex intervention is counter-productive – Manufacturers
The Manufacturers Association of Nigeria (MAN) has lamented over the low rate that local raw materials are utilized in the manufacturing sector.…
Restructuring: HSBC to cut 35,000 jobs in next 3 years
Banking giant, Hongkong and Shanghai Banking Corporation (HSBC), says it plans to cut some 35,000 jobs worldwide in the next…
Apple shares skid on worries over coronavirus impact
Apple shares slumped on Wall Street Tuesday after the US tech giant warned of a bigger-than-anticipated financial hit from the…
Inflation rises to 12.13%, highest in 22 months
The National Bureau of Statistics, on Tuesday, released the Consumer Price Index which measures inflation with the index rising from…
Japan’s Horrific GDP Spiral Poses Major U.S. Stock Market Threat
The global economic outlook saw another dark storm-cloud brewing on Sunday evening as Japan, the world’s 3rd largest economy, reported…
Markets Wrap
The Japanese yen pared its earlier decline after Apple Inc.’s announcement that it would miss revenue guidance for the March…
HSBC misses expectations on 2019 pre-tax profit, shares down nearly 3%
HSBC on Tuesday reported pre-tax profit that missed analysts’ expectations after the bank took a goodwill impairment relating to its European…