Business Local MMIA New Terminal Ready For Use Q1 December 13, 2020 Ekemini The newly constructed terminal at the Murtala Muhammed International Airport (MMIA), Lagos built by Chinese engineering firm, CCECC, will become operational by first quarter of 2021. This was disclosed by…
Business Local Nigeria To Access Vaccine From Jan, Says Okonjo-Iweala December 13, 2020 Ekemini Chair of the board of Gavi, the Vaccine Alliance, Ngozi Okonjo-Iweala, has assured that Nigeria and other African countries will have access to COVID-19 vaccines from the end of January.…
Business Local Naira Extends Gains On Dollar At Black Market, Now N476/$1 December 13, 2020 Ekemini The Naira extended gains into a second day on Thursday, December 10, appreciating by N2 against the US Dollar at the black market to close the day at N476/$1 in…
Africa Business Terror Risks Escalate In Africa; Coronavirus Could Make It Worse December 12, 2020 Ekemini Terror groups are expanding operations and scaling up attacks in Africa, straining governments ill-prepared to battle extremism as the coronavirus pandemic drains much-needed resources, Verisk Maplecroft said. Rising violence has…
Business Local Nigeria Plans To Approve Covid-19 Vaccine Early Next Year December 12, 2020 Ekemini Nigeria expects to license by April one of the vaccines under development globally for Covid-19, the West African nation’s drugs regulator said. “We are looking at the end of the…
Business Local Nigerian Shell Employees Orchestrated Oil Spills For Own Profit: Dutch TV December 12, 2020 Ekemini Employees at Royal Dutch Shell’s Nigerian joint venture orchestrated damage to oil pipelines to profit from the money spent on clean-up operations, Dutch investigative TV programme Zembla reported on Thursday.…
Business Canadian Dollar Extends Rally As Oil Benchmark Cracks $50/Bbl December 12, 2020 Ekemini The Canadian dollar strengthened to a more-than two-and-a-half-year against its U.S. counterpart on Thursday as oil climbed and the greenback broadly lost ground, while the Bank of Canada kept its…
Business Local World Bank Says 20 Million More Nigerians May Fall Into Poverty December 12, 2020 Ekemini The World Bank has predicted that the effects of COVID-19 pandemic could see further drastic deterioration in the standards of living of Nigerians and push a fresh 20 million citizens…
Business Local Nigeria’s Manufacturing Sector Moving In Right Direction — Minister December 12, 2020 Ekemini Following years of struggle to contribute meaningfully to the country’s GDP, Nigeria’s manufacturing sector will soon start to increase its contribution to the GDP, the Minister of Industry, Trade and…
Business Local Opec Output At Seven-Month High In Nov: Correction December 12, 2020 Ekemini Opec crude production rose to a seven-month high last month, climbing by 805,000 b/d from October thanks largely to a recovery in Libyan output. Production by the 13 Opec members,…
Business Fitch Ratings Expects House Prices To Fall Up To 5 Per Cent In 2021 December 12, 2020 Ekemini Canada’s housing markets broke records in 2020, even as a global pandemic raged, but prices could be poised to fall next year. Fitch Ratings says demand has been unsustainable and…
Business Local Nigeria May Be On Verge Of Second Wave Of COVID-19 Infections Warns Health Minister December 12, 2020 Ekemini Nigeria may be on the verge of a second wave of COVID-19 infections amid rising number of confirmed cases in Africa’s most populous country over the last few weeks, the…
Africa Business WEEKAHEAD-AFRICA-FX-Ugandan Currency Firm, Kenya’s, Zambia’s Stable, Nigerian Rangebound December 12, 2020 Ekemini Uganda’s currency will likely gain against the U.S. dollar next week, while Kenya’s and Zambia’s are expected to be stable and Nigeria’s Naira rangebound. NIGERIA The naira NGN is seen…
Banking Business Nigeria Needs More Naira Reform For $1.5 Bln World Bank Loan, Country Director Says December 12, 2020 Ekemini The World Bank needs Nigeria to strengthen reforms of its currency, the naira, before it can approve a $1.5 billion loan, its country director said on Thursday. Nigeria needs the…
Business Mexico Senate Passes Bill To Make The Central Bank Buy Unwanted Dollars December 12, 2020 Ekemini Mexico’s Senate approved Wednesday a bill that will force the central bank to buy dollars from banks that can’t place them elsewhere, ignoring concerns from policy makers that the bill…
Business Sterling Extends Losses With UK And EU Still Far Apart In Brexit Talks December 12, 2020 Ekemini The Brexit-battered pound extended its losses against the dollar and the euro on Thursday, as investors became more cautious about the risk of Britain and the EU failing to agree…
Business ECB To Go Easy; Brexit Goes Sour December 12, 2020 Ekemini Bets on more European Central Bank stimulus kept Europe’s main stock markets and the euro steady on Thursday, but Britain’s pound saw its biggest drop in almost a month after…
Business Euro Stable Ahead Of ECB Stimulus, Pound Dips On Brexit Fears December 12, 2020 Ekemini The euro stood its ground on Thursday ahead of the European Central Bank unveiling fresh stimulus measures, while sterling fell after post-Brexit trade talks were extended until the weekend in…
Business Local Ports And Cargo Debunks Reports Of Inefficiency December 12, 2020 Ekemini Ports and Cargo Handling Services Limited, the flagship and port operations arm of SIFAX Group, has debunked news reports alleging that the terminal is not efficient in its barge operations.…
Business Local Apapa Gridlock: Truck Owners, Port Operators Allege Extortion By Presidential Team, Others December 12, 2020 Ekemini Importers, clearing agents, truck owners and other operators at the Apapa and Tin Can Island Ports in Lagos have cried out against alleged extortion by security officials at the facilities.…
Business Local States Eye Capital Market For Funds To Develop Infrastructure December 12, 2020 Ekemini A wave of fundraising by state governments from the capital market through bonds to develop infrastructure is in the offing, THISDAY checks have revealed. Many of the states are in…
Technology Facebook Sees WhatsApp As Its Future, Antitrust Suit Or Not December 12, 2020 Ekemini On the final day of November, Facebook Inc. announced it had bought a customer service software startup most people had never heard of, in a deal valuing the company at…
Business Bank Of Canada Stands Pat On Rates Amid Surge In Covid Cases December 12, 2020 Ekemini The Bank of Canada stood pat on interest rates and reiterated its commitment to keep them at historic lows to support an economy buffeted by a second wave of Covid-19…
Business Local Crude Oil Remittance: Court Upholds $1.7bn Arbitral Award In Favour Of NPDC December 11, 2020 Ekemini The Federal High Court in Lagos has upheld a landmark $1.7billion arbitral award in favour of the Nigerian Petroleum Development Co. (NPDC) Ltd against the Atlantic Energy Drilling Concepts Nig.…
Local Lagos Bans Burial On Residential Premises December 11, 2020 Ekemini The Lagos State Government says the use of residential premises as morgues, embalmment centres or burial sites remain banned in the state. This was contained in a statement titled, ‘Burial…
Business Local New Profit Alerts From Nigerian Banks Have Less To Do With Virus December 11, 2020 Ekemini It’s not just the pandemic that’s putting Nigerian bank earnings at risk: Competition for customers in the recession-hit economy is driving interest rates on loans lower. Mid-tier lender FCMB Group…
Business Pornhub In Trouble: Mastercard, Visa Cut-Off Payments December 11, 2020 Ekemini Mastercard said it would no longer process payments for Pornhub. Mastercard has directed the third-party financial institutions that connect Pornhub to its network to no longer complete transactions between the…
Business Pound Drops As Chances Dim For Post-Brexit Trade Deal After ‘Lively’ Dinner December 11, 2020 Ekemini Sterling slid on Thursday after British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen gave negotiators until the end of the weekend to decide if a…
Business Local Banking, FMCG, Industrial Stocks Drag Nigeria Bourse Down As Negative Sentiments Rule Bulls December 11, 2020 Ekemini It was a negative outing at the Nigerian equities market on Tuesday as persistent profit-taking activities, which were also reflected in the performance of the NSE 30 Index, pinned the…
Business Local How Oil Majors Shift Billions In Profits To Island Tax Havens December 11, 2020 Ekemini Bermuda and the Bahamas aren’t exactly big players in the oil-and-gas world. They don’t produce any of the fuels at all. Yet the islands are deep wells of profit for…
