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…
Year: 2020
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…
AfDB to support agro-processing zones with $300m
The African Development Bank is to support the implementation of the Special Agro-Industrial Processing Zones project in Nigeria with $300m.…
Operators project another negative market as investors lose N162bn
CAPITAL market operators have said that the equities market will record another week of negative returns following sell-off in big capitalised…
Keystone Bank partners NCF on tree planting campaign
KEYSTONE Bank Limited has partnered with the Nigerian Conservation Foundation (NCF) on a tree-planting campaign in Lagos State. The trees…
Coca-Cola Beat Earnings, but Shares Have Gone Parabolic
The Coca-Cola Company (KO) reported better-then-expected earnings before the opening bell on Jan. 30. The stock has been trading higher…
Our tariffs up by 50% April 1 –Ikeja Disco
Ikeja Electric Plc says its tariffs will go up by 50 per cent beginning from April. The Disco disclosed this…
Why telcos retain old SIM users’ records, by ALTON
Telecommunication operators retain the records of former users of old SIM cards in their archives for legal reasons, the Chairman,…
‘FG supports creative industry with N7bn loan’
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the Federal Government has approved a facility of…
Budget 2020 projections realistic – FBN Quest
ANALYSTS at FBN Quest, Lagos-based investment banking firm, have described the 2020 budget and the revenue assumptions in the budget…
NASD urges investors to seek for unquoted stocks
Amid the bearish equities market, the Nigerian Association of Securities Dealers Over-the-Counter (NASD-OTC) has advised investors to seek for unquoted…
Power sector loses N19.15bn in 10 days
The nation’s power sector lost an estimated N19.15bn in 10 days due to constraints from insufficient gas supply, distribution and…
U.S.-Kenya Trade Talks Seen a Risk for Africa Regional Pact
A possible U.S.-Kenya free-trade agreement could undermine an existing continent-wide commerce pact and limit Africa’s power to negotiate with the…
Nigeria Seen Unable to Avert Naira Devaluation Past 2021
Dwindling reserves and lower oil prices will probably force the Nigerian central bank to devalue one of the world’s most…
IMF’s Georgieva Says Lack of Reforms Is Hurting Global Economy
The head of the International Monetary Fund said the lack of deeper improvements in the global economic system is hindering…
Subscribers must explain need for new mobile lines – Minister
Existing subscribers to telecommunications services who want new telephone lines must be made to explain why they need the lines,…
Salaries and wages commission develops five-year strategic plan
The National Salaries Incomes and Wages Commission has developed a five -year strategic plan to enable it to achieve its…
FG appoints committee for new economic development plan
As the Economic Recovery and Growth Plan ends in December, the Federal Government has set up a steering committee to…
Oyetola presents N1.2bn bonds to retirees
Osun State Governor, Adegboyega Oyetola, on Friday presented a total sum of N1.2bn bonds to some retired workers, who are…
Senate summons AGF, CBN over N596bn ecological fund
The Senate, on Thursday, following an audit query from the office of the Auditor General of the Federation, summoned the…
Stock market down N95bn on sale pressure
Activities on the Nigerian bourse on Thursday reversed Wednesday’s positive sentiment with a loss of N95bn in market capitalisation following…
Nigeria’s oil exports fall as explosion shuts pipeline
The nation’s oil exports have suffered a setback as an oil pipeline explosion forced the Nigeria Agip Oil Company, a…
Olam, Massachusetts Institute collaborate on food workshop
Global agribusiness firm, Olam International, has announced a collaboration with the Massachusetts Institute of Technology Solve (MIT Solve) to design…