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…
Category: Business
Ericsson To Wind Down Business Activities In Russia
Ericsson (ERICb. ST) said it will gradually wind down business activities in Russia; as the Swedish telecoms equipment maker completes its obligations…
Firms Buy Sh9.5bn Safaricom Stake.
Local institutional investors have acquired shares worth Sh9.5 billion in Safaricom following the exit of domestic shareholders and foreigners; reversing…
Nigeria’s N20.4 trillion Imports In 2021 Not Enough To Lift Economy – Economists.
Despite the hues and cries about Nigeria being an import-dependent economy over the years, and importing goods worth over N20…
Nigerians Drink Beer Worth N599.11 Billion In 6 Months.
Nigerians drink beer worth N599.11 billion in six months running from January t0 June 2022, according to the first quarter…
China Protect Chinese Firms Following U.S. Export Control List.
China’s commerce ministry said it will take the measures needed to protect the legitimate rights of Chinese companies after the…
FTSE 100 Rebounds On Energy, Earnings Lift.
London’s blue-chip stock index bounced off two-week closing lows, as energy stocks received a lift from rising crude prices and…
Investors Of Three Top Cement Firms Lose N291 Billion As Sell Pressure Heightens.
Race to sell-offs for portfolio rebalancing ahead of the 2023 elections saw the shares of Dangote Cement Plc, BUA Cement Plc…
Shanta Eyes Sh60 Million West Kenya Gold Licences.
London-listed exploration firm Shanta Gold is eyeing three additional prospecting licences from Canadian miner Barrick Gold in the West Kenya…
Toyota Sells Stake In Kenya IT Firm After Row With State.
A unit of Japanese multinational Toyota has sold its stake in Kenyan information technology firm Seven Seas Technologies; after the…
Aggregate FX Inflow Down 17.3% to $6.58bn On Decrease In Non-Oil Components.
The aggregate foreign exchange inflow into the Nigerian economy dropped by 17.3% to $6.58 billion in April 2022; compared with $7.95 billion in March, the…
$20 Billion Indian Investments In Nigeria – Foreign Minister.
Indian Minister of State for External Affairs Shri Vellamvelly Muraleedharan has disclosed that Indian investments in Nigeria amount to $20…
Vodafone To Sell Hungarian Business For $1.8 Billion.
Britain’s Vodafone (VOD.L) will sell its Hungarian business for 715 billion forints ($1.8 billion) in cash, it said on Monday, in a…
Canadian Housing Starts Rise 1.1% In July.
Canadian housing starts surprisingly rose in July compared with the previous month, data from the national housing agency. The seasonally…
China Vows To Support Digitalisation Of 4,000-6,000 Small Firms By 2025.
China will support around 300 service platforms to help with the digital transformation of 4,000-6,000 small- and medium-sized enterprises till…
UK Inflation Tops 10%, Highest Since 1982.
British consumer price inflation jumped to 10.1% in July, its highest since February 1982, up from an annual rate of…
China To Boost Economic Demand, Speed Up Infrastructure.
China will boost economic demand in a strong, reasonable and moderate manner; and accelerate infrastructure construction in the third quarter…
Automakers Scramble To Decode New U.S. EV Tax Credits.
U.S. Automakers and dealers are scrambling to figure out if they can still offer $7,500 tax credits to would-be buyers…
Apple Sets Sept 5 Deadline For Employees To Return To Office – Bloomberg.
Apple Inc (AAPL.O) has set a Sept. 5 deadline for corporate employees to return to office at least three days a week.…
Exclusive: Tencent Plans To Divest Meituan Stake Worth $24 Billion.
China’s Tencent Holdings (0700. HK) plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan (3690.…
Sterling Barely Changed Following Conflicting Labor Market Statistics.
The British pound was little changed, having briefly fallen to its lowest level in over a week, after mixed data…
South Africa Network Provider Rain To Submit Merger Proposal To Telkom In Due Course.
South Africa’s data-only network provider rain intends to submit a formal non-binding proposal to bigger rival Telkom (TKGJ. J) in due course,…
Aegon Leads Gains Among Insurers.
European shares edged higher after a strong rally in the previous session on signs of U.S. inflation cooling, while Aegon…
China’s July Auto Sales Extend Recovery, Jump 30% As COVID Curbs Ease.
China’s auto sales surged 29.7% in July from a year earlier to 2.42 million units, extending a recovery that began…
Ukraine Sees Big Increase In Agriculture Exports In July.
Ukraine’s grain, oilseed, vegetable oil exports rose 22.7% in July versus June to 2.66 million tonnes. Grain exports slumped since…
U.S. Fuel Retailers Rail Against Green Aviation Fuel, Tax Credit.
U.S. fuel retailers are fighting the inclusion of a tax credit for sustainable aviation fuel (SAF) in Democrats’ $430 billion…
NNPC Sells N147bn Petrol, Diesel In One Month.
The Nigerian National Petroleum Company Limited said it made N147.36bn from the sale of petrol and diesel in October 2021.…
FG Generates N2.5bn Daily From TinCan Port – Nigeria Customs.
The TinCan Island Command of the Nigeria Customs Service has said that the command makes an average of N2.5bn daily.…
Russia Becomes India’s Third-Largest Coal Supplier In July.
Russia became India’s third-largest coal supplier in July, with imports rising by over a fifth compared with June to a…
Hit By Rising Costs And Supply Snarls, Toyota Profit Tumbles 42%.
Toyota Motor Corp’s (7203.T) profit slumped a worse-than-expected 42% in its first quarter; as the Japanese automaker was squeezed between supply constraints…