The Board of Ashakacem Plc have announced the successful completion of its Mandatory Tender Offer to minority shareholders. Majority of the shareholders accepted the offer and converted their Ashakacem Plc shares to Lafarge Africa Plc shares. The company noted that through this process, the
Business
The Nigerian National Petroleum Corporation, (NNPC), and Nigerian LNG Limited, (NLNG), have extended various incentives to their host communities in order to nip the growing scourge of pipeline vandalism in the bud. Both companies have resolved to involve the various communities in their areas of operation to provide security for their infrastructure. While the NNPC […]
The Nigerian Stock Exchange (NSE) has announced the appointment of Chapel Hill Denham Securities Limited (CHDS) as one of its Primary Market Makers. The appointment of CHDS follows the resignation of WSTC Financial Services Limited, one of ten Primary Market Makers appointed in September 2012. The Executive Director, Business Development, NSE, Mr. Haruna Jalo-Waziri,
The Dangote Group has announced plans to raise its initial proposed refinery capacity from 450,000bpd to 650, 000bpd, to make it the refinery with the largest capacity in the world. On completion, Nigeria would be listed as having the largest petroleum refinery in the world, Africa’s richest man and president of the Pan-African conglomerate, the […]
Bayelsa State Governor, Hon. Seriake Dickson over the weekend presented an instrument of N25m as a revolving loan to traders in the Swali and Kpansia markets in Yenagoa. The amount is part of an initial N50 million micro finance revolving loan scheme for market traders, with the Governor expected to visit other markets later to disburse […]
The British economy is heading for a spell of deflation as official figures are expected to show that inflation dropped to 0.1% last month. Analysts expect the UK’s consumer price inflation figure for February to fall from 0.3% in January, driven by lower energy and food prices. Some economists think the monthly update from the […]
Port and Free Zone World (PFZW), the majority owner of listed Dubai-based ports operator DP World, has completed a deal to borrow $1.1 billion, a company spokesman said. Earlier banking sources had said the five-year loan would be used to help the company meet commitments at the group and subsidiary levels. PFZW is part of […]
The domestic production of both natural gas and crude oil fell in February on a year-on-year basis. Natural gas production in the country fell 8.1 per cent for the month of February 2015 while crude oil production fell 1.9 per cent, according to the data released by the Ministry for Petroleum and Natural Gas. The […]
Brent will average $52/bbl in 2015 and $58/bbl in 2016 according to Bank of America Merrill Lynch Global Commodity Research. “In the past 15 years, the global economy was defined by rising commodity prices, zero interest rate policy, and a weak USD. “This cycle has now gone into reverse with a decelerating industrial economy in […]
U.S. shale drilling may be slowing, but not fast enough for OPEC to change policy at its June meeting or to prevent oil prices maybe falling more, in the view of the group’s Gulf members. Actual oil output from the United States could prove harder to beat back, sources in the Gulf say after poring […]
Total U.S. petroleum deliveries (a measure of demand) rose 1.5 percent from February 2014 to average 19.3 million barrels per day. This was the highest February demand since 2008.“Greater demand for gasoline and jet fuel and a colder-than-usual February brought total February deliveries back to pre-recession levels,” said API Chief Economist John Felmy. “At the […]
The Merchant Shipping (Control of Harmful Anti-fouling Systems on Ships) Regulation (AFS Regulation) and the Merchant Shipping (Prevention and Control of Pollution) (Fees) (Amendment) Regulations 2015 (Fees Amendment Regulation) were gazetted today (March 20).A spokesman for the Transport and Housing Bureau said that the AFS Regulation, which was newly made under the
The Tourism Authority of Thailand (TAT) has entered into a co-branding partnership with one of the world’s largest low-cost carriers, Air Asia in which the airline brand will see one of its aircraft with the logo of 2015 Discover Thainess campaign, as well as introduce a series of promotional airfares throughout the year. Air Asia […]
Korean Air, the flag carrier of South Korea, has announced a new codeshare agreement with Aerolíneas Argentinas on the Seoul – New York – Buenos Aires and Seoul – São Paulo – Buenos Aires routes. The new codeshare on the route via New York will commence on 25th March 2015 and the route via São […]
Investments in production and processing of palm oil has been identified and proven to be a veritable tool of poverty reduction and economic diversification. From being the world’s leading producer and exporter of palm oil in the 1960s, Nigeria has fallen to being a net importer to meet rising domestic demand. Largely, demand is primarily […]
The Federal Government has announced that it has secured one billion dollar loan for a Micro, Small and Medium Enterprises (MSMEs) Wholesale Bank to aid the growth of the Small and Medium Enterprises sector. The loan is also expected to boost job creation and reduce poverty across the country. The proposed MSME Wholesale Bank is […]
The management of Empire Trust Microfinance Bank (ETMB) has announced that it has entered a partnership with Stanbic IBTC Bank to quicken service delivery to customers in all its branches nationwide. The Managing Director of ETMB, Mr. Seun Durojaiye, who made the disclosure to newsmen on Thursday in Lagos said that the partnership is geared […]
The Managing Director of the Bank of Industry (BoI), on Thursday, disclosed that disbursements of intervention funds and loans from the Bank to the nation’s real sector and other key sectors have hit N780 billion as at the end of 2014. Speaking at the yearly conference of the Nigerian Institute of Estate Surveyors and Valuers […]
Despite several utterances made by the Nation’s leaders and some financial authorities on the well-being of the Nigerian Economy, other financial experts are still worried on its state and have prescribed various methods to salvage it. Some of the methods prescribed have been from capitalizing on long term investments to engaging in enhanced […]
The Nigeria Content Investment Forum scheduled to hold May 4 is being organized under the aegis of collaboration between Sweetcrude, the Guardian Newspapers, the Nigerian Content Development Monitoring Board (NCDMB) and other like-minded organisations. The event which is scheduled for May 4th 2015 on the sidelines of the Offshore Technology Conference, OTC, at The
