Business World Exclusive: Bank of Israel waiting for digital euro ahead of digital shekel launch July 10, 2024 Ekemini Uba The Bank of Israel (BOI) is committed to exploring a digital shekel to enhance the country’s payment system and encourage innovation but is unlikely to introduce it ahead of other…
Banking Local First Bank, others join Zone decentralised payment network July 10, 2024 Ekemini Uba First Bank, United Bank for Africa (UBA), and Zenith Bank have joined Zone’s decentralized payment network. This development follows Zone’s recent acquisition of $8.5 million in seed funding led by…
Business Local Air Peace economy class to London booked till August – COO July 10, 2024 Ekemini Uba Air Peace’s Chief Operating Officer, Toyin Olajide, announced that economy class tickets for flights from Lagos to London are fully booked for the next 60 days starting from July. This…
Business Local No going back on N250,000 minimum wage, TUC insists July 10, 2024 Ekemini Uba The Trade Union Congress (TUC) remains firm on its demand for a N250,000 minimum wage for workers in Nigeria, according to TUC President Festus Osifo. During an event in Abuja,…
Business NGX Suspends Trading of 8 Companies Over Late Financial Filings July 10, 2024 Ekemini Uba The Nigerian Exchange Limited (NGX) has suspended trading in the shares of eight companies for failing to file their Audited Financial Statements for the year ended December 31, 2023. The…
Business Local N400bn oil production shortfall threatens 2024 budget July 10, 2024 Ekemini Uba Nigeria’s oil production is significantly below its OPEC quota and budget benchmarks, causing severe pressure on the industry. With a quota of 1.5 million barrels per day, recent data shows…
Business Local Apapa Customs collects over N1trn in 6mths July 10, 2024 Ekemini Uba Despite a drop in importation, the Apapa Area 1 Command of the Nigeria Customs Service (NCS) collected over N1 trillion in revenue in the first six months of 2024. Comptroller…
Business Local NCAA to sanction airlines over false flight schedule July 10, 2024 Ekemini Uba The Nigeria Civil Aviation Authority (NCAA) has issued a warning to commercial airlines against deceitful departure time scheduling, emphasizing that such practices will lead to strict regulatory actions. Acting Director…
Business Local Fuel Scarcity: Filling Stations To Operate Longer Hours To Aid Supply – NNPC July 10, 2024 Ekemini Uba The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that fuel stations will extend their operating hours to improve petrol supply and distribution. This decision was shared by Mr.…
Business Energy Local Firm Invests In Renewable Energy, Generates 3,200 Kwh July 10, 2024 Ekemini Uba BAT Nigeria has invested millions of dollars in a solar power plant at its Ibadan manufacturing facility, generating an average of 3,200 kWh per day and reducing carbon emissions by…
Business World Australia Increases Minimum Wage To $915 Per Week For Lowest Paid Workers July 10, 2024 Ekemini Uba The Fair Work Commission (FWC) has announced a 3.75% increase in Australia’s minimum and award wages. This change raises the national minimum wage to $24.10 per hour, or $915.91 per…
Business Energy World Oil companies in Texas restoring operations following hurricane Beryl July 9, 2024 Ekemini Uba Oil and gas companies in Texas are restarting operations after Hurricane Beryl hit the state with 80-mph winds, causing property damage and leaving millions without power. Beryl made landfall near…
Technology World Megacaps, chip stocks lift futures before Powell testimony July 9, 2024 Ekemini Uba U.S. stock index futures rose on Tuesday, driven by gains in megacap technology and semiconductor stocks. This continues Monday’s rally, where the S&P 500 and Nasdaq closed at record highs,…
Business World Disney to add new ship in Tokyo to expanding cruise business July 9, 2024 Ekemini Uba Walt Disney (DIS.N) announced plans to launch a new cruise ship from Tokyo in fiscal 2028, adding a ninth vessel to its fleet. This ship, modeled after the largest vessel…
Finance World How a Trump election victory could ruffle Latin American markets July 9, 2024 Ekemini Uba Investors are preparing for various scenarios in case former President Donald Trump wins back the White House in November, with a focus on Latin America. During his previous administration, Trump…
Finance World DBS CEO says bank hunting for bolt-on deals, not game-changing ones July 9, 2024 Ekemini Uba Asia’s wealthy and their bankers are optimistic about a recovery in China, betting that exposure to the region, even amidst a slowdown, will be beneficial in the long run. Piyush…
Business World Crypto market turns green, downside risk remains high July 9, 2024 Ekemini Uba The crypto industry is experiencing turbulence due to Bitcoin sales in Germany and concerns over significant liquidations by Mt. Gox creditors. However, despite these challenges, there is optimism for the…
Business World Australia increases minimum wage to $915 per week for lowest paid workers July 9, 2024 Ekemini Uba Australia’s Fair Work Commission has raised the minimum wage to $915.90 per week, effective from July 1, 2024. This follows a 3.75% increase, bringing the hourly rate to $24.10. The…
Banking Business Local Access Holdings Launches N351 Billion Rights Issue July 9, 2024 Ekemini Uba Access Holdings Plc, a top financial services group in Africa, has begun a N351 billion Rights Issue to enhance its financial stability and support the growth of its banking and…
Business Local Nigerian Content Creators Eye Facebook’s N150,000 Per 10,000 Views July 9, 2024 Ekemini Uba Starting July 1, 2024, Nigerian social media creators on Meta platforms like Facebook will earn up to N150,000 for every 10,000 views on their content. This follows the launch of…
Banking World Bank Appoints Dr. Ndiamé Diop as New Country Director for Nigeria July 9, 2024 Ekemini Uba The World Bank has appointed Dr. Ndiamé Diop as the new Country Director for Nigeria, succeeding Shubham Chaudhuri. Dr. Diop previously served as the World Bank Country Director for Brunei,…
Banking Business Local UBA’s GMD appointed Chairman, CIBN Body of Banks’ CEOs July 9, 2024 Ekemini Uba Oliver Alawuba, Group Managing Director and CEO of United Bank for Africa (UBA) Plc, has been appointed Chairman of the Chartered Institute of Bankers of Nigeria (CIBN) Body of Banks’…
Banking Business Local Zenith Bank Wins Best Commercial Bank and Best Corporate Governance Awards for 2024 July 9, 2024 Ekemini Uba Zenith Bank Plc has been named the Best Commercial Bank in Nigeria for the fourth consecutive year in the World Finance Banking Awards 2024. Additionally, the bank won the Best…
Business GTCO To Raise N400.5bn Through Public Offer July 9, 2024 Ekemini Uba Guaranty Trust Holding Company (GTCO) Plc is set to raise N400 billion in fresh capital as part of the Central Bank of Nigeria’s (CBN) recapitalization policy. The Group CEO, Segun…
Business Local CBN to auction N166bn T-bills as US, India await inflation data July 9, 2024 Ekemini Uba July 10: OPEC Report and Nigerian Oil Output Decline The Organisation of the Petroleum Exporting Countries (OPEC) will release its June oil market report. Nigeria’s oil output fell to 1.25…
Banking Local Wema Bank Launches CoopHub to Empower Cooperative Societies July 9, 2024 Ekemini Uba Wema Bank has launched CoopHub, a digital solution designed to empower cooperative societies, during the International Day of Cooperatives. The event, themed “Cooperatives: Building a Better Future For All,” was…
Business Local IGP to prosecute ex-personnel who ‘hijacked’ truck carrying 40,000 litres of petrol in Enugu July 8, 2024 Ekemini Uba The Nigeria Police Force has announced the impending prosecution of three former officers involved in hijacking a truck loaded with 40,000 litres of Premium Motor Spirit (PMS) in Enugu State.…
Local Samsung Electronics workers strike as union voice grows in South Korea July 8, 2024 Ekemini Uba Samsung Electronics workers initiated a three-day strike on Monday, demanding better pay, an additional day of annual leave, and changes to the employee bonus system. The National Samsung Electronics Union,…
Business Local Pension funds crossed N20tn in May – PenCom July 8, 2024 Ekemini Uba The value of pension funds in Nigeria rose by 2.23% month-on-month, reaching N20.23tn in May 2024. According to the National Pension Commission’s report, the Pension Funds Administrators (PFAs) heavily invested…
Business Local Budget: FG releases N1.2tn for capital projects July 8, 2024 Ekemini Uba The Federal Government disbursed N1.23tn to 17 ministries for capital projects as of September 30, 2023, as per the Budget Implementation Report. Capital projects typically involve long-term infrastructure investments like…
