Business Archives — Page 498 of 539

October 27, 2016 No Responses

World Federation of Exchanges to host 300 delegates at 2016 annual meeting

The World Federation of Exchanges (WFE) has concluded plans to host 300 delegates at its 56th General Assembly & Annual Meeting scheduled for November 2-4, 2016, in Cartagena, Colombia. The event, hosted by Bolsa de Valores de Colombia (BVC), will...

October 27, 2016 No Responses

Union Bank declares N13.3b pre-tax profit in Q3

Union Bank of Nigeria (UBN) Plc has declared N13.3 Billion profit before tax for the nine months ended September 30, 2016, indicating 27 per cent growth. According to the result, gross earnings rose by 12 per cent to N93.43...

October 27, 2016 No Responses

Mercedes plans two powerful E-class variants

(Auto News) Mercedes-Benz’s latest E-class sedans went on sale in June and now the automaker has shed light on the high-performance variants. The high-end E63 S is powered by a 4.0-liter V-8 biturbo engine that produces 603 hp and 627...

October 27, 2016 No Responses

CMA CGM reshuffles Spain, Morocco, West Africa services

French container shipping giant CMA CGM has decided to upgrade its WAZZAN service and reorganize PHOEX and BEX services. The modified port rotation of the WAZZAN service, which connects Morocco and West Africa, is scheduled to start on November 8, 2016,.....

October 26, 2016 No Responses

Minister laments ‘high-level’ corruption in Customs

Efforts by the Federal Government to realize money from revenue generating agencies such as Nigeria Customs Service (NCS) is being hampered by alleged high-level corruption, the Minister of Finance, Kemi Adeosun has said. Addressing members of the Senate Com...

October 26, 2016 No Responses

FG Seeks NASS approval to borrow $29.9b

The Federal Government has forwarded a letter to the National Assembly seeking approval to borrow externally $29.9 billion as part of measures to ensure the prompt implementation of projects. In a letter addressed to the Speaker of the House of...

October 26, 2016 No Responses

Don’t contemplate another fuel price hike, TUC tells FG

The Trade Union Congress (TUC) of Nigeria has advised the Federal Government not to contemplate any increase in the price of petroleum products. The union in a statement on Tuesday described the statement credited to the Group General Manager,...

October 26, 2016 No Responses

‘No plan to increase petrol price’

The Nigerian National Petroleum Corporation (NNPC) has denied reported plan to increase the price of fuel. In a statement issued by the Group General Manager, Group Public Affairs Division, NNPC, Mr. Garba-Deen Muhammad, the corporation said, “Reference o...

October 26, 2016 No Responses

NSE admits The Initiatives on ASEM board

Efforts by The Nigerian Stock Exchange (NSE) to encourage indigenous firms to list their shares on its market has been bolstered with the listing of 889,981,552 ordinary shares of The Initiatives Plc ( TIP) at 50 kobo each. Priced at...

October 26, 2016 No Responses

Information portal for Nigerians underway

The Federal Government will soon launch an Information Portal to keep Nigerians at home and in the diaspora abreast of government’s programmes and policies and also get their feedback. The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed...

October 26, 2016 No Responses

FirstBank wins Global Finance Digital Bank of Distinction award

First Bank of Nigeria Limited has won the Global Finance Digital Bank of Distinction award, 2016. This new award recognizes outstanding accomplishments in digital banking made by middle-market and local banks. It honours banks that may be outspent by...

October 25, 2016 No Responses

Zenith Bank records N380b gross earnings in Q3

Despite ongoing economic challenges, Zenith Bank Plc recorded N380 Billion gross earnings for Third Quarter ended September 30, 2016, up by 13 per cent when compared to same period in 2015. Also the group’s Profit After Tax (PAT) increased...

October 25, 2016 No Responses

NPA to restructure Ikorodu Lighter Terminal for Agric Export

The Nigerian Ports Authority (NPA) is to restructure Ikorodu Lighter Terminal as part of measures to ensure its effective utilization. Inspecting operations at the Terminal, NPA’s Board chairman, Emmanuel Adesoye, described the facility as a “Gold ...

October 25, 2016 No Responses

‘Imported commercial vehicles must be fitted with speed limiter from January 2017’

Come January 1, 2017, all commercial vehicles coming into the country must be fitted with speed limiter, the Corps Marshal of the Federal Road Safety Corps (FRSC), Boboye Oyeyemi, has said. Mr. Oyeyemi stated this in Kaduna on Monday...