City BusinessNews, Author at City Business News

March 25, 2020 No Responses

Five Largest Banks Declare $26.1b Revenue

Trade tensions, slow growth, and low-interest rates all left their mark on the world’s largest banks last year, affecting the investment banking revenue they racked up. The five largest global banks hit $26.1bn in investment banking revenue in 2019, 3%...

March 25, 2020 No Responses

COVID-19: Kia Nigeria Deploys Measures To Protect Employees, Customers

The management of Kia Motors Nigeria has joined responsive corporate entities across the country to restrain the spread of COVID-19. Rooted in the practice advised by the World Health Organisation [WHO] and National Center for Disease Control [NCD...

March 25, 2020 No Responses

Ekiti Seals N3.5b Agric MoU With Dutch Firm

Ekiti State Governor, Dr Kayode Fayemi has restated his administration’s resolve to use the agric sector as a platform for the diversification of the state’s economy, in view of the hard times that may arise as a result of the...

March 25, 2020 No Responses

Fidelity Bank Explains N30.4b PBT In 2019

For the 2019 financial year, Fidelity Bank Plc has declared Gross Earnings of delivered Gross Earnings of N215.5billion, indicating 14.0% more than N189.0billion recorded in 2018, whilst Profit before tax rose by 21.0% to N30.4bn compared with N25.1bn re...

March 25, 2020 No Responses

Aero Suspends Flights Services

Aero Contractors on Tuesday announced suspension of all its flight services for two weeks to support the Federal Government effort to stop the Coronavirus pandemic from spreading further. Capt. Ado Sanusi, the Chief Executive Officer of the airline made ...

March 24, 2020 No Responses

Covid-19: Africa Seeks $100b Economic Stimulus

Africa needs an immediate emergency economic stimulus to the tune of 100 billion dollars, owing to the COVID-19 outbreak, the African Finance Ministers have said. This is contained in a statement by Communication and Media Relations Department of the group,...

March 24, 2020 No Responses

Ecobank Group Declares 32% Growth In 2019 Profit Before Tax

For the 2019 financial year, Ecobank Transnational Incorporated (ETI) recorded profit before tax of N146.5 billion, representing 32 per cent increase when compared with the year 2018. In the financial performance released to the Nigeria stock Exchange (N...

March 24, 2020 No Responses

Covid-19: Toyota Employee Tests Positive

Toyota Motor Corporation has confirmed that one of its employee in his 20’s working as a line worker at the company’s Takaoka plant, based in Aichi prefecture, Japan has been found infected with Covid-19. In a statement, the company explained...

March 24, 2020 No Responses

NPA Directs Staff In 15 Departments To Stay At Home For 14 Days

The management of Nigerian Ports Authority (NPA) on Monday issued a fourteen day stay at home notice to workers of some of its departments and divisions. In a circular NPA explained that essential departments like Marine and Operations, Health, Safety...

March 24, 2020 No Responses

UEFA Postpones Champions League, Europa League Finals

This season’s Champions League, Europa League and women’s Champions League finals scheduled for May have been formally postponed because of the coronavirus pandemic, European soccer’s governing body UEFA said on Monday. All three competitions are current...

March 24, 2020 No Responses

NSE Resorts To Remote Trading

As part of measures to curtail COVID-19 pandemic, the Nigerian Stock Exchange (NSE) will effective March 25, 2020 temporarily close its trading floors and engage in remote trading. Mr Oscar Onyema, NSE Chief Executive Officer, said in a statement o...

March 24, 2020 No Responses

Suzuki Halts Operations

India’s largest carmaker Maruti Suzuki has shut down all its operations including production in Gurugram and Manesar until further notice. In a statement, the company explained that R&D Centre at Rohtak will also remain closed, adding that prod...

March 23, 2020 No Responses

NIMASA Boss Implores Nigerians On Business Opportunities In Maritime Industry

The Nigerian Maritime Administration and Safety Agency (NIMASA) has advised Nigerians to get involved in vast Small and Medium Enterprises (SMEs) businesses in Nigerian maritime industry. The Director-General of NIMASA, Dr Bashir Jamoh, gave the advice in Enug...

March 23, 2020 No Responses

BUA Acquires Majority Stake In Construction Firm

BUA Group has acquired majority shareholding in P.W. Nigeria Ltd., one of Nigeria’s largest construction, engineering and mining companies. Executive Chairman of BUA Group, Abdul Samad Rabiu explained in a statement on Sunday that the acquisition was necessa...