Ibom Air Will Soon Start Flight To Gambia – Emmanuel
Gov. Udom Emmanuel of Akwa Ibom has said that Ibom Air, the state-owned airline, will extend its flight operations to…
Day: April 6, 2021
$2bn FX Backlog: Experts Suggest Way Out
FOLLOWING an estimated $2 billion unmet Foreign Exchange (FX) demand, finance and economic experts have expressed concern that FX challenges…
IEA Sees Drop In Nigeria’s Crude Oil Capacity By 2026
The International Energy Agency (IEA) forecasts that crude oil capacity in Nigeria will drop by 200,000 barrels to 1.6 million…
CANADA FX DEBT-Canadian Dollar Notches 2-Week High As Risk Appetite Climbs –
The Canadian dollar advanced against its broadly weaker U.S. counterpart on Monday as robust U.S. economic data bolstered investor sentiment…
ADQ To Acquire Egypt’s Amoun Pharmaceutical Company
The UAE’s ADQ, one of the region’s largest holding companies plans to acquire Amoun Pharmaceutical Co. from Bausch Health Companies…
SaltPay To Acquire Apis Partners-Controlled Tutuka; PE To Swap Stake
European payments firm SaltPay has inked a deal to acquire South Africa-born third-party payments enabler International Tutuka Holdings Ltd, a…
Airtel Africa Sells $200M Mobile Money Business Stake To TPG’s Rise Fund
In February, London-listed telecom Airtel Africa said it was looking to sell a minority stake in its mobile money business in a…
IMF Excludes Nigeria From Debt Relief
Nigeria has been excluded from the list of 28 countries granted debt pardon by the Executive Board of the International…
Sweden To Bring In Banks In Next Stage Of E-Krona Project
Sweden’s central bank will bring in banks in the coming year to test how its proposed digital currency – the…
Oil Rebounds On Robust Economic Data
Oil prices rose on Tuesday supported by strong economic data from China and the United States, recouping some of the…
NIRSAL Recovers 51 Per Cent Of Legacy Loans
The Managing Director, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) Aliyu Abdulhameed has recovered 51 per cent…
Brookfield, BlackRock No Longer In Race For Over $10 Billion Aramco Pipeline Stake – Sources
U.S. asset manager BlackRock and Canada’s Brookfield Asset Management Inc are no longer in the race to buy a stake…
Azman Reshuffles Management After NCAA Audit
Azman Air has reshuffled a number of appointments amongst its management cadre following the recently concluded audit of the airline…
Europe’s STOXX 600 Hits Record High On Global Recovery Optimism
Europe’s benchmark equity index hit a record high on Tuesday, recovering all of its pandemic-driven losses as investors bet on…
Stocks Scale Fresh Peak As U.S. And China Lead Recovery
Stocks hovered near a record high on Tuesday, supported by strong economic data from China and the United States, while…
Sterling Bank Reports N12.4bn Profit
Sterling Bank Plc, a full service national commercial bank, said it recorded N12.4bn profit before tax in the financial year…
NGO Tackles Chevron Over Oil Spill In Gbaramatu
The Centre for Peace and Environmental Justice on Monday said the failure of Chevron Nigeria Limited to accept responsibility for…
Fuel Marketing Companies Suffer N331.54bn Revenue Drop
Five of the major oil marketing companies in the country saw their total revenue plunge by N331.54bn last year amid…
2,210 Workers Withdrew N3.18bn From Voluntary Pension Contributions – PenCom
A total of 2,210 workers withdrew N3.18bn from their Retirement Savings Accounts with their respective Pension Fund Administrators in six…
Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC
The debts of four states exceeded their net revenues by more than 400 per cent, the Fiscal Responsibility Commission has…
We’ve Uncovered N50bn Hidden Debt By Amosun Govt – Ogun
The Ogun State Government says it took its diligence to discover an alleged hidden additional N50bn domestic debt left behind…
Dolce & Gabbana CEO Denies Talks With Kering Over Possible Tie-Up-Paper
Dolce & Gabbana is not in talks with French luxury group Kering over a possible tie-up, the chief executive of…
Payment Giant Stripe Expands To Middle East With Dubai Office
– Digital payments giant Stripe on Tuesday announced the opening of an office in United Arab Emirates financial capital Dubai,…
U.S. Auto Industry Calls For Government Help As It Warns Of Impact Of Chip Shortage
A U.S. auto industry group on Monday urged the government to help as it warned the global semiconductor shortage could…
Credit Suisse To Reveal Losses From Archegos; 2 Execs To Depart: Sources
Credit Suisse Group AG will on Tuesday detail losses from its relationship with Archegos Capital Management LP after dumping over…
Dollar Drops With U.S. Yields Despite Strengthening U.S. Recovery
The dollar sank to an almost two-week low versus a basket of its peers on Tuesday, moving in tandem with…