Nigeria Sovereign Investment Authority, OCP Morocco Seal $1.4bn Deal To Produce Ammonia In Nigeria
The Nigeria Sovereign Investment Authority (NSIA) has sealed a $1.4bn deal with the OCP of Morocco as well as the Akwa…
Day: March 3, 2021
SMEs Report Rise In Demand As Nigeria PMI Swings Back To Positive
Nigeria’s manufacturing Purchasing Managers’ Index (PMI), a gauge for manufacturing sentiments, moved back into positive territory in February 2021 after…
E-Payments In Nigeria Decline Across All Channels
The value of electronic payment (e-Payment) transactions in Nigeria fell month-on-month, MoM, by 10 per cent to N19.9 trillion in…
The African Union Claims 300m Africans Live 50km Away From Broadband Connections
The African Union (AU) has noted that though there has been a huge expansion of fibre optic networks on the…
Volkswagen CEO Tweets, Musk-Style, On Market-Cap Milestone
When the market value of Germany’s Volkswagen rose above the 100-billion-euro mark on Wednesday for the first time since 2015,…
S&P 500, Nasdaq Fall As High-Flying Tech Stocks Slide
Wall Street’s major indexes dropped on Wednesday, weighed down by technology stocks as investors unwound positions in high-flying shares and…
U.S. Energy Secretary Readies $40 Billion In Loans To Boost Clean Energy
U.S. Energy Secretary Jennifer Granholm said on Wednesday she is ready to use $40 billion in her department’s loan program…
General Motors Extends Vehicle Production Cuts Due To Semiconductor Chip Shortage
General Motors Co said on Wednesday it was further extending production cuts at three North American plants and adding a…
Tangerine Life Completes Merger With ARM Life
Tangerine Life Insurance Limited (previously known as Metropolitan Life Insurance Nigeria Limited), has, concluded its merger with ARM Life Plc.…
GlobalFoundries Pours $1.4 Billion Into Fab Expansion Amid Chip Demand Boom
GlobalFoundries will invest $1.4 billion this year to raise output at three factories in the United States, Singapore and Germany,…
Samsung Considers Four Sites In U.S. For $17 Billion Chip Plant: Documents
Samsung Electronics Co Ltd is considering two sites in Arizona and another one in New York in addition to Austin,…
African Development Bank Backs Digital Currencies, Seeks Gender Inclusion
The African Development Bank (AfDB) has thrown its weight behind digital currencies, putting in motion a machinery to build capacity…
Federal Government Of Nigeria Opens March Savings Bonds
The Federal Government has through the Debt Management Office opened the March savings bond offer to investors. The DMO on…
The Companies And Allied Matters Acts Regulations: Experts Set To Address Controversial Sections
Economic and management experts are set for a big conversation to address controversies surrounding section 124 of The Companies And…
Stock Market Reverses Gains As Index Drops By 0.59%
The Nigerian Stock Exchange (NSE) has reversed positive sentiment to close on a downturn yesterday as the shares of Nestle…
Africa Prudential appoints new Director
Africa Prudential Plc has appointed Mrs Zubaida Rasheed as an independent non-executive director. The firm in a regulatory filing with…
European Telcos Cash In On Tower Assets As High-Cost 5G Investment Looms
European telecoms firms are cashing in on the money-making power of masts, as tower companies line up to pay multi-billion…
Las Vegas Sands To Sell Properties For About $6.25 Billion
Casino operator Las Vegas Sands Corp said on Wednesday it would sell its Las Vegas real estate property and operations…
Federal Government Of Nigerian Wants Telcos To Establish SIM Swap Centres In 774 LGAs
The Nigerian Government has approved the establishment of dedicated Subscriber Identification Modules (SIM) Swap centres by Mobile Network Operators (MNOs)…
Investors Lose N120bn As Stocks Resume Decline
The Nigerian stock market, which began the month on a positive note, resumed its decline on Tuesday as 26 firms…
Central Bank Of Nigeria To Phase Out $40b OMO Bills Market
The Central Bank of Nigeria (CBN) will soon end the Open Market Operation (OMO) Bills sales to investors. The policy…
World Bank Readies COVID-19 Vaccine Funds For Around 30 African Countries
The World Bank is preparing emergency financing to help about 30 African countries access COVID-19 vaccines, the global lender told…
Fall In UK Economic Activity Bottoms Out In February-PMI
British economic output stabilised in February after a sharp fall the month before, as many businesses continued to suffer from…
Research Works On Cocoa, Livestock Already In Farms, Says ARCN
The Agricultural Research Council of Nigeria (ARCN), has said research works on cocoa and livestock in the various Agriculture Research…
Three Million Nigerians Lost N18bn To Ponzi Schemes – Securities And Exchange Commission
Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission stated on Tuesday. Director-General,…
Sterling Eases To 2-1/2 Week Low Against Dollar
Sterling eased to its lowest level against the dollar in two and a half weeks on Tuesday, as the strengthening…
N74Billion Recovered From Maina Was Used To Finance 2012 Budget – Witness
Ngozika Ihuoma, first defence witness (DW1), on Tuesday, told the Federal High Court, Abuja, that N74 billion recovered by defunct…
We’re Treating Agriculture As Money Making Business — Federal Government Says
The Federal Government, Tuesday, assured that agriculture is being treated as moneymaking business and to create wealth for agribusiness players.…
Dollar On Defensive As Risk Sentiment Recovers Amid Retreat In U.S. Yields; Aussie Gains
The safe-haven U.S. dollar remained broadly weaker on Wednesday as Treasury yields retreated further, restoring some calm to global markets…
Japan’s SMFG Likely To Halt All New Lending To Coal-Powered Plants, Sources Say
Japan’s Sumitomo Mitsui Financial Group is likely to halt all new financing to coal-fired power plants, including the most efficient…