US refiners’ Q2 profits fall on low margins, soft fuel demand
U.S. oil refiners are set to report significantly lower earnings for the second quarter compared to last year, following a…
Day: July 24, 2024
Musk launches poll asking if Tesla should invest $5 bln in xAI, early votes in favour
Tesla CEO Elon Musk has initiated a poll on the social media platform X to gauge public opinion on whether…
Hotel workers in four US cities to hold strike authorization votes
Approximately 13,500 unionized hotel workers across Boston, San Francisco, Honolulu, and Providence, Rhode Island, are set to vote on strike…
Fortune 500 firms to see $5.4 bln in CrowdStrike losses, says insurer Parametrix
Fortune 500 companies, excluding Microsoft, are projected to incur financial losses totaling $5.4 billion due to a recent CrowdStrike outage,…
UK business activity picks up after pre-election lull, PMI data shows
British business activity experienced a notable uptick in July, following a lull before the July 4 election, driven by the…
Forex: Reps Pass Bill To Impose ‘Windfall Tax’ On Banks
The House of Representatives has approved a bill to impose a ‘Windfall Tax’ on commercial banks that benefited from the…
First Bank/Visa Promo To Reward 520 Cardholders
First Bank has initiated a Visa Cross Border and Summer campaign in collaboration with Visa, running from April 1, 2024,…
Access Bank Disburses N740b To 18m Digital Borrowers
Access Bank has disbursed N740 billion to 18 million borrowers through its digital lending services since launching in 2017. This…
FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the deficit…
DBN secures access to over $100b Green Climate Fund
The Development Bank of Nigeria Plc (DBN) has become the first Direct Access Entity (DAE) in Nigeria to receive accreditation…
NACCIMA, others kick as CBN hikes interest rate to 26.75%
The Central Bank of Nigeria (CBN) has raised its benchmark Monetary Policy Rate (MPR) to 26.75% from 26.25% in an…
Transcorp Hotels posts 188% profit growth in 2024 half year
Transcorp Hotels posted a profit before tax of N10.5 billion in the first half of 2024, a remarkable 188% increase…
FG allocates over N438 billion to 34 States, FCT under economic stimulus programme
The Federal Government has distributed more than N438 billion to 34 states and the Federal Capital Territory (FCT) as part…
Support for Dangote Refinery Swells, Kyari Denies Owning Blending Plant in Malta
Amid ongoing disagreements between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), prominent Nigerians are voicing…
Gabon President Invites Aliko Dangote to Invest in Cement and Fertilizer
President Brice Oligui Nguema of Gabon has extended an invitation to Aliko Dangote, Africa’s wealthiest individual, to explore investment opportunities…