80% Of Crude Oil Being Stolen With Connivance Of N’Delta Govs —Adebayo, SDP Presidential Candidate.
Prince Adewole Adebayo, has said 80% of the country’s crude oil were being stolen with the connivance; and quietude of…
Month: August 2022
If FG Loves Education, $23m Abacha Loot Would Be Used To Meet Our Demands – Nigeria ASUU.
The Academic Staff Union of Universities says the federal government should have used the recovered $23 million Abacha loot to…
Fidelity Bank To Acquire Union Bank UK.
Fidelity Bank Plc has entered a binding agreement to acquire a 100 percent equity stake in Union Bank UK Plc.…
Europe’s Alternatives If Russia Cuts Off Gas Supply.
The Nord Stream 1 pipeline that transports Russian gas to Germany will undergo maintenance from Aug. 31-Sept. 2, prompting concerns…
This Decade’s Oil Boom Is Moving Offshore – Way Offshore.
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long…
Russia Deepens Europe’s Energy Squeeze With New Gas Halt.
Russia halted gas supplies via Europe’s key supply route, intensifying an economic battle between Moscow and Brussels. Raising the prospects…
NCAA Threatens To Sanction Domestic Airlines Over N19bn Debt, Issues 30-Day Ultimatum- Nigeria.
The Nigerian Civil Aviation Authority (NCAA) has threatened to sanction domestic airlines for over N19 billion debt on ticket sales.…
Global Economy Can Thank U.S. Consumers.
The U.S. consumer is coming to the rescue of the global economy. Back in 2009, companies turned to China to…
Amazon, Google Slam Microsoft’s Cloud Computing Changes.
Amazon (AMZN.O) and Alphabet (GOOGL. O) unit Google criticised Microsoft’s (MSFT. O) cloud computing changes, saying they limit competition and discourage customers from switching to rival…
Dangote Refinery Gets 300,000 Barrels/day From NNPC.
The Nigeria National Petroleum Corporation Limited will have the first right of refusal to supply the Dangote refinery with about…
Nigeria’s GDP Contraction Worries Experts.
Economic experts have raised concerns about the prostrate nature of the economy; exemplified by the contraction in the country’s Gross…
Oil Prices Climb 1% As U.S. Fuel Inventories Fall.
Oil prices recovered slightly as data pointed to firm U.S. Fuel demand, providing respite after a 5% drop a day…
Naira Falls To N705/$ At Black Market.
On Tuesday, August 30, 2022, the Naira reversed its almost miraculous comeback to trade over the N700/$1 mark once again. This is…
Dangote To Save Forex, Through 40% Sugar Import Substitution.
Management of Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar into the country by 40%.…
OpenSea Trading Volume Plunges By 99% In 90 Days.
OpenSea, the world’s largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in its daily trading volumes. Data from…
India’s Reliance Unveils $9.4 Bln Plan To Boost Oil To Chemicals.
Reliance Industries Ltd (RELI.NS), operator of the world’s biggest refining complex, will invest 750 billion rupees ($9.38 billion); over 5 years…
Maersk Agrees To Sell Stake In Russian Port Operator.
A.P. Moller-Maersk (MAERSKb. CO) said it has agreed to sell its 30.75% stake in Russian port operator Global Ports Investments (GLPRq. L) to Russia’s…
U.S. Govt To Provide $11 Mln For Production Of Monkeypox Vaccine.
The U.S. government said it would provide about $11 million to support the packaging of Bavarian Nordic’s (BAVA. CO) Jynneos monkeypox vaccine…
Ukraine Strike Hits Fuel Depot At Zaporizhzhia Nuclear Plant.
Officials installed by Russia in Ukraine said that a Ukrainian missile strike punched a hole in the roof of a…
China’s Top Airlines Post Steep Q2 Losses On COVID Curbs
China’s three biggest airlines posted a combined 28.4 billion yuan ($4.12 billion) second-quarter loss. Wider than in the first quarter,…
Fintech Firm, Wise Fined $360,000 By Abu Dhabi Regulator.
The regulator of Abu Dhabi’s free zone financial centre said it had fined the local subsidiary of fintech firm Wise…
Nigerian Economy Shrinks By N63bn, 28 Sectors Struggle.
Twenty-eight sectors of the economy declined in the second quarter of 2022 as real Gross Domestic Product shrunk by N63.49bn…
Nigeria’s Electricity Sector Dips By 11.5% In Q2 2022 Following Multiple Grid Collapses.
The latest GDP report for the second quarter of 2022 released by the National Bureau of Statistics (NBS); showed that…
Nikola To Raise Up To $400 Mln In Stock Sale.
Nikola Corp (NKLA. O) said it may sell shares to raise up to $400 million, as the electric truck maker looks to…
CBN Recorded $2.4bn Diaspora Remittances In 2022.
The Central Bank of Nigeria (CBN) says the country has recorded $2.4 billion in diaspora remittances through its ‘Naira 4…
According To The NNPC Chief, Churches And Mosques Are Housing Stolen Nigerian Petrol.
Every section of Nigerian society is complicit in the theft of millions of barrels, the head of state oil company…
HSBC Hires Justin Wu As Asia-Pacific Co-Head Of Climate Change.
HSBC (HSBA. L) has hired Justin Wu as its first co-head of climate change Asia Pacific to lead the development and implementation…
Forex Supply Falls Further To $54 Million As Exchange Rate Remains Stable.
Monday, 29th August 2022: The exchange rate between the naira and the US dollar closed at N430.67/$1; at the Investors and…
Seplat Energy Shareholders Lose N71 Billion.
Investors of Seplat Energy Plc recorded a loss of about N70.56 billion from trading in the shares of the company.…
German gas storage progress better than expected.
Germany is making better progress than expected in filling its gas storage facilities; but it’s not enough to get the…