City BusinessNews Archives — Page 244 of 369

May 12, 2020 No Responses

Auto Industry To Raise $100b From Banks

Global automakers and suppliers are on track to get at least $100 billion of bank financing as the coronavirus pandemic hammers car sales.Mazda Motor is the latest to join the rush, with Nikkei reporting that the company is seeking a 300...

May 12, 2020 No Responses

Market Capitalisation Drops By N49b

The nation’s bourse resumed trading for the week on Monday on a bearish trend with the crucial indices dropping by 0.39 per cent. Specifically, the All-Share Index (ASI) lost 94.57 points or 0.39 per cent to close at 23,950.83 compared...

May 11, 2020 No Responses

Farmer Laments Egg Glut, Seeks Improved Value-Chain

A local poultry farmer, Mr Joel Oduware, has decried the growing level of egg glut in the country, attributing it to the novel coronavirus pandemic currently ravaging the world. Oduware, who is also an egg processor, raised the alarm in...

May 11, 2020 No Responses

Mazda Seeks $2.8b Loans

Mazda Motor Corporation has sought loans totalling about 300 billion yen ($2.8 billion) from Japan’s three megabanks and other lenders to ride out the coronavirus epidemic, a source with direct knowledge of the matter said on Saturday.The megabanks &#...

May 11, 2020 No Responses

Minister: Lagos, Abuja Isolation Centers Saturated By 600 Evacuees From Foreign Countries

The Minister of Foreign Affairs, Mr Geoffrey Onyeama, on Monday said over 600 evacuees from different countries are already at various isolation centres in Lagos and Abuja. Speaking at the Presidential Task Force on COVID-19 press briefing in Abuja, the...

May 11, 2020 No Responses

Sterling Bank Explains N2.1b Profit In Q1

For the first quarter ended March 31, 2020, Sterling Bank Plc has reported gross earnings and profit after tax of N32.9 billion and N2.065 billion respectively. The Bank also reported net operating income of N18.779 billion compared with N18.565 bi...

May 11, 2020 No Responses

SEC Nigeria Implores Stakeholders On Full Disclosures, Reopens Head Office

The Securities and Exchange Commission, SEC has reminded regulated entities in the capital market to continue to make adequate disclosures on the impact of COVID-19 on their businesses This was contained in a circular by the Commission to provide update...

May 11, 2020 No Responses

Emefiele Assures Investors On Forex Repatriation

Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has assured investors of the security of their investments in the country in spite dwindling revenue from the sale of crude oil globally. The CBN’s Director, Corporate Communications Department, Mr ...

May 11, 2020 No Responses

Nigeria Records 248 New Cases Of Coronavirus

The Nigeria Centre for Disease Control (NCDC) on Sunday recorded 248 new cases of Coronavirus and 17 deaths, bringing the total figure of confirmed cases across the country to 4,399. This is the highest daily figure of deaths reported from...

May 11, 2020 No Responses

South Korea Begins Work On Small LNG Vessel

South Korea has started building a small liquefied natural gas bunkering vessel as part of a project backed by the Ministry of Oceans and Fisheries. A steel-cutting ceremony to mark the construction of the 500 cubic meter capacity LNG bunkering...

May 11, 2020 No Responses

Hyundai Rolls Out 200 Units As 250 Dealers Resumes

Hyundai Motor at the weekend announced that it rolled out 200 cars on the first day of production resumption at its plant in Sriperumbudur, Chennai in India. The South Korean automaker explained that the production resumption has been done follo...

May 10, 2020 No Responses

Kwara Returns 200 “Almajiri” To Katsina

The Police Command in Kwara State on Saturday returned no fewer than 200 suspected Almajiri to Katsina State.This was contained in a statement issued by the Police Public Relations Officer (PPRO) in the state, Ajayi Okasanmi, in Ilorin.Okasanmi explained that....

May 10, 2020 No Responses

Tambuwal Supports Late Guardian Correspondent Family With N500,000

The Nigeria Union of Journalists (NUJ), Sokoto State Council has commended Governor Aminu Tambuwal for supporting the family of late Guardian Correspondent, Mr Eric Meya with N500,000 . Meya died on April 29, this year at the Usmanu Danfodiyo University....

May 10, 2020 No Responses

FRSC Intercepts Truck Conveying 13 People

The Federal Road Safety Corps (FRSC), Ondo State Command, on Saturday, said it intercepted a truck conveying 13 young boys from outside the state into Akure, the state capital. Mr Rotimi Adeleye, the Sector Commander of the corps, announced this...