Nigeria’s business activity remains steady in March: Stanbic
According to the latest Purchasing Managers’ Index (PMI) published by Stanbic IBTC, business activities in Nigeria stayed unchanged in March,…
Month: April 2024
Transcorp plc reports 93% profit growth in 2023
Transnational Corporation Plc (Transcorp) witnessed a substantial increase in its profit before tax, soaring by 93.5% to N58.8 billion in…
Power outages hit Abuja, Lagos, and Nasarawa communities
Several communities in Abuja, Lagos, and Nasarawa are currently experiencing power outages as a result of technical glitches affecting transmission…
FX volatility forces 28 changes in Customs duty rate
The Nigeria Customs Service (NCS) is grappling with significant challenges due to instability in customs duty rates caused by fluctuations…
Dangote refinery to reduce dependency on imported petrol by May
There are signs that Nigeria’s reliance on imported petrol will decrease significantly as the $20 billion Dangote Refinery plans to…
NERC announces tariff hike impacting over 1.9 million consumers
The Nigerian Electricity Regulatory Commission (NERC) has revealed that a total of 1,974,385 electricity consumers will be affected by its…
Dangote sugar refinery launches N50bn commercial paper offer
Dangote Sugar Refinery PLC (DSR) has introduced Series 2 and 3 Commercial Paper offers totaling up to N50 billion under…
Stock market starts week with bearish trend, investors lose N24.83
The Nigerian Exchange (NGX) All-Share Index began the week’s trading on a downward note, shedding 4 basis points to close…
Gabon launches national dialogue for democratic revitalization
Gabon has embarked on a historic national dialogue led by President Felix Tshisekedi, marking a significant departure from the 54-year…
Markets brace for federal reserve speech over rate cuts
As markets navigate a shaky start to the second quarter, all eyes are on Federal Reserve Chair Jerome Powell’s upcoming…
Virgin Atlantic expects profitability in 2024 Demand
Virgin Atlantic anticipates returning to profitability in 2024 following robust revenue growth driven by increased demand from holidaymakers. The airline…
China revises car loan policies to boost auto trade-Ins and sales
China’s central bank has announced revisions to car loan policies aimed at promoting auto trade-ins and scrapping government-set minimum down…
Greece approves purchase of 35 Blackhawk helicopters from Lockheed Martins
Greece has greenlit the acquisition of 35 UH-60M Blackhawk helicopters from U.S. defense contractor Lockheed Martin Corp, as part of…
CBN increases customs exchange rate by 2.1%
The Central Bank of Nigeria (CBN) has raised the exchange rate used to calculate Customs duties at the nation’s seaports…
MTN Nigeria seeks shareholders’ input In capital loss management
MTN Nigeria has announced plans to hold an extraordinary general meeting (EGM) with its shareholders later this month in Lagos.…
FX market roars back to life with $1bn single-day trade
On Tuesday, Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017, signaling a significant shift…
Cadbury Nigeria Plc faces N19.09bn loss
Cadbury Nigeria Plc, a consumer goods firm, has reported a loss of N19.09 billion after tax for the financial year…
Nigeria plans nearly 300% Increase in electricity tariffs
The Nigerian government is reportedly considering a significant increase in electricity tariffs, aiming to attract investment into the sector. According…
Dangote refinery’s diesel supply lowers pump prices
The pump price of Automotive Gas Oil (diesel) in Nigeria has witnessed a significant drop from around N1,700/litre to approximately…
Dangote, Adenuga, others maintain top ranks on Forbes billionaire list
Despite economic challenges in the country, prominent Nigerian businessmen Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have retained…
Banking sector slumps on NGX amid minimum capital requirement
The Nigerian banking sector experienced a downturn on the Nigerian Exchange Limited (NGX) yesterday, fueled by controversy surrounding the exclusion…
Naira appreciates to N1,270 in parallel market
Today, Tuesday, the Naira showed signs of appreciation against the dollar in both the parallel market and the Nigerian Autonomous…
Thailand welcomes 9.4 million foreign tourists in Q4 2024
Thailand’s tourism ministry announced on Tuesday that the country recorded 9.4 million foreign tourists in the first three months of…
UBS launches $2 billion share buyback program
UBS announced on Tuesday the launch of a new share buyback program worth up to $2 billion, with half of…
Google settles lawsuit, agrees to destroy billions of data records
HeadlineGoogle has agreed to destroy billions of data records as part of a settlement to resolve a lawsuit alleging that…
South Asia’s jobs creation lags population growth, says World Bank
The World Bank cautioned on Tuesday that job creation in South Asian economies is lagging behind the increase in the…
Frontier airlines operate high-fare markets to improve earnings
Frontier Airlines, a U.S. no-frills carrier, is adjusting its strategy to prioritize growth in “high fare” markets like Seattle and…
Disney gains upper hand in boardroom battle against activist investors
Walt Disney (DIS.N) seems to have gained the upper hand in the battle for board seats and the future direction…
Dry weather threatens Ivory Coast cocoa crop
Farmers in Ivory Coast, the world’s leading cocoa producer, are worried about their cocoa crop due to the lack of…
Over 100 companies benefit from tax exemption- NIPC
According to the Nigerian Investment Promotion Commission (NIPC), a total of 107 companies are currently receiving tax exemptions from the…