Oil & Gas: Nigeria To Account For 23% Of Projects In Africa By 2025 – Report
Nigeria may account for 23 percent of all oil and gas projects in Africa within the next four years, a report by GlobalData, an oil data and analytics company, has…
Nigeria’s Commercial Hub Sets Up Anti-Graft Body To Investigate Officials
Lagos state, which is home to Nigeria’s commercial hub, set up an anti-corruption agency to investigate government officials and curb public waste. Governor Babajide Sanwo-Olu signed a law creating the…
Currency In Circulation Hit N2.8tn In March – CBN
Currency in circulation rose by N29bn to N2.81tn as of the end of March from N2.78tn as of the end of February, the latest figures obtained from the Central Bank…
Bolt Reacts As Drivers, Uber Operators Begin Strike
Bolt and Uber drivers began a strike on Monday to demand an upward review of the fares charged by the service. The e-taxi hailing company, Bolt, has maintained that its…
China Leaves Lending Benchmark Rate Steady For 12th Straight Month
China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations. The one-year loan prime…
Bank Of England Joins Global Peers Exploring A Digital Currency
Britain’s Treasury and the Bank of England are weighing the potential creation of a central bank digital currency, joining authorities from China to Sweden exploring the next big step in…
UK Banks Launch 95% Mortgages: Everything You Need To Know
A new government-backed mortgage scheme has launched in the UK which will help first-time buyers, or current homeowners, secure a mortgage with just a 5% deposit. The scheme follows prime…
Sterling Bank Launches Mobile POS Solution
Sterling Bank Plc has launched a product called ‘OnePay for Business’, a mobile app that empowers merchants to use their mobile phones as Point-of-Sales systems. The bank said it allows…
Autoshow Chip Shortage Casts Shadow On China’s Auto Industry Recovery
Auto industry executives are rattled by a global shortage of semiconductors which is hitting production in China, after hoping the world’s biggest car market could spearhead global recovery in the…
Coca-Cola Revenue Rises Past Estimates On Easing Pandemic Curbs
Coca-Cola Co trounced Wall Street estimates for quarterly revenue on Monday, fueled by strong demand for its beverages from the gradual reopening of restaurants and cinema theaters following accelerated vaccine…
Arizona Mining Fight Pits Economy, EVs Against Conservation, Culture
Early last year, Darrin Lewis paid $800,000 for a hardware store in a tiny Arizona town where mining giant Rio Tinto Plc hopes to build one of the world’s largest…
Harley-Davidson Boosts Sales Forecast As Quarterly Shipments Rise
U.S. motorcycle maker Harley-Davidson on Monday reported a 10% rise in first-quarter revenue and raised it full-year forecast for sales growth, on the back of strong demand for its more…
European Shares Hit Highs As Markets Upbeat About Recovery Prospects
World shares traded near record highs on Monday, as markets were generally upbeat about the prospects for a global economic recovery from COVID-19, ahead of a busy week for earnings.…
U.S. Banks Deploy AI To Monitor Customers, Workers Amid Tech Backlash
Several U.S. banks have started deploying camera software that can analyze customer preferences, monitor workers and spot people sleeping near ATMs, even as they remain wary about possible backlash over…
Firm Begins Construction Of 350 Housing Units
Brains and Hammers Limited, a real estate company, has commenced the construction of 350 units of four-bedroom terraces as part of measures to reduce Nigeria’s housing deficit. It announced the…
Insurance Of The future’ll Be Digital, Says Leadway
Insurance companies that want to remain relevant in the nearest future must consciously create digital channels that are customer friendly, customer-centric and always make the customer happy. The Principal Investment…
China NDRC Approves 16 Fixed-Asset Investment Projects Worth $6.96 bln In Q1
China’s state planner said on Monday that it approved 16 fixed-asset investment projects worth a total of 45.4 billion yuan ($6.96 billion) in the first quarter of this year. The…
Dollar Pinned Near One-Month Low Amid Subdued U.S. Yields
The dollar was pinned near a one-month low to major peers on Monday, with Treasury yields hovering near the lowest in five weeks, after the U.S. Federal Reserve reiterated its…
Goldman Sachs Invests $69 Million In Britain’s Starling Bank
British digital bank Starling said on Monday that Goldman Sachs (GS.N) had invested 50 million pounds ($69 million) in the UK lender. The investment is an extension of Starling’s oversubscribed…
ABN Amro To Settle Money Laundering Probe For $574 mln
Dutch bank ABN Amro on Monday said it had reached a 480-million-euro ($574 million) settlement with prosecutors in the Netherlands over money laundering allegations, which will impact its first-quarter results.…
Microsoft To Invest $1 bln In Malaysia To Set Up Data Centres – Malaysian PM
Microsoft Corporation will invest $1 billion over the next five years in Malaysia as part of a new partnership programme with government agencies and local companies, the Southeast Asian nation’s…
Credit Suisse Serves Investors Thin Gruel As Wall Street Feasts On Deals
While Wall Street rivals feast off a boom in trading and deals, Credit Suisse is stuck in limbo. The collapse of Archegos, a U.S. investment fund, has left the Swiss…
ESR, GIC To Buy Australian Logistics Property Portfolio From Blackstone For $2.9 bln
Logistics real estate manager ESR Cayman Limited (1821.HK) said it will join with Singaporean sovereign wealth fund GIC to buy an Australian portfolio from Blackstone for A$3.8 billion ($2.9 billion).…
Make Us Pay Agents For Diaspora Remittances – BDC Operators Tell Central Bank Of Nigeria
The Association of Bureaux de Change Operators of Nigeria (ABCON) has asked the Central Bank of Nigeria (CBN) to make its members pay agents for diaspora remittances. Aminu Gwadabe, president…
Zamfara Govt Expends N2.9bn On Ramadan Welfare – Commissioner
The Zamfara Government says it spent the sum of N2.9 billion on the purchase of essential commodities for distribution to various categories of people as Ramadan welfare. This was disclosed…
Experts Fault CBN Gov, NESG Says N60bn Printing Not Sustainable
A former Deputy Governor of the Central Bank of Nigeria, Dr Obadiah Mailafia, and a professor of Political Economy, Pat Utomi, have faulted the CBN Governor, Godwin Emefiele’s justification of…
Trade Advisors Pledge French Investment In Lagos Free Zone
The Conseillers du Commerce Exterieur (French Foreign Trade Advisors) has expressed readiness to invest massively in the Lagos Free Zone being developed by the Tolaram Group as they endorsed the…
Senate Queries FMBN Over N14bn Payment On Legacy Estate
The Senate Public Accounts Committee has sustained the query issued to the Federal Mortgage Bank of Nigeria by the Auditor General for the Federation. The bank was accused of paying…
Minister To Inspect Jabi Mall Solar Project
The Minister of State for Power, Goddy Jedy-Agba, is scheduled to visit the Jabi Lake Mall Solar Hybrid project in Abuja Monday (today). Actis, along with the developer – CrossBoundary…
ARCON, Partners To Raise Architectural Standard
The Architects Registration Council of Nigeria has said it is working with other bodies to raise architectural standard in the country. According to a statement from the council on Friday,…