City BusinessNews Archives — Page 364 of 371

February 21, 2019 No Responses

DP World Acquires Pan-European Logistics Firm

Dubai-based port operator DP World has acquired the pan-European logistics company P&O Ferries for a purchase consideration of GBP 322 million (USD 421 million). The company said that the transaction implies a 2017 Enterprise Value/EBITDA valuation multiple of 6.1x. The...

February 20, 2019 No Responses

Dunlop Revisits Manufacturing In Nigeria, Seeks Technical Partners

Citybusinessnews@yahoo.com – DN Tyre and Rubber Plc (formerly known as Dunlop Nigeria Plc) has intensified ongoing discussions with Edo State government as part of measures to revive local manufacturing. According to the company, the development is...

February 20, 2019 No Responses

Qatar Orders 60 New LNG Carriers

Saad bin Sherida Al-Kaabi, Qatari Minister of Energy and CEO of Qatar Petroleum, confirmed the country’s intentions to order up to 60 new LNG carriers. Al-Kaabi explained that the Middle Eastern nation would order the vessels at a press conferen...

February 20, 2019 No Responses

SEC Clamps Down On Growing Circle Over Alleged Illegal Capital Market Activities

The Securities and Exchange Commission, SEC, has sealed off the premises of Growing Circle in Lagos for engaging in alleged illegal fund management activities. According to the Commission, the company was shut down for carrying out investment...

February 19, 2019 No Responses

Total Top Losers Table As Nigerian Stock Exchange Is Down By N196B

The Nigerian Stock Exchange (NSE) on Monday reacted negatively to sudden election postponement, dropping by N196 billion as predicted by financial experts. Specifically, the market capitalisation shed N196 billion or 1.61 per cent to close at N12.004 trillion ...

February 19, 2019 No Responses

INEC Okays Resumption Of Campaigns

PARTIES threatening to resume campaigns following the postponement of the general elections got the nod to return to campaign grounds last night. The Independent National Electoral Commission (INEC) reversed itself on its earlier position that political campai...

February 19, 2019 No Responses

Maritime Firm Records $75m Loss In 2018

Norwegian maritime industry group Wilhelmsen ended 2018 — the first full year with present corporate structure — in loss. In the preliminary result for the year, the group reported a loss for the period of USD 75 million in 2018, compared to a loss...

February 18, 2019 No Responses

1.6 million Register For 2019 JAMB

The Joint Admissions and Matriculation Board (JAMB) says not less than 1.8 million candidates would be registered for its 2019 UTME by the end of the registration exercise scheduled for February 21. The agency also says over 1.6 million candidates...

February 16, 2019 No Responses

Nigeria Elections Postponed

Nigeria’s presidential and parliamentary elections have been delayed for a week. The Independent National Electoral Commission (INEC) made the announcement just five hours before the polls were due to open on Saturday. “Proceeding with the election...

February 15, 2019 No Responses

Federation Of Exchanges To Focus On Regulatory Coherence In 2019

The World Federation of Exchanges (WFE), the global industry group for exchanges has agreed its 2019 business priorities will focus on the following areas: regulatory coherence or market fragmentation; technology-related policy work on topics including in...

February 15, 2019 No Responses

ICTSI Unveils New Container Terminal

Philippines-based International Container Terminal Services Inc. (ICTSI) has inaugurated the newly-expanded Batumi International Container Terminal (BICT) in Georgia. Both the waterside and landside areas of the multipurpose terminal were expanded with the aim...

February 14, 2019 No Responses

Osinbajo’s Chopper Crash: Report Blames Sandy, Dusty Environment

THE Accident Investigation Bureau (AIB) yesterday released the report of the helicopter crash involving Agusta Westland W 139 Caverton Helicopters, which flew Vice President to Kabba in Kogi State. It attributed the February 2, 2019, crash of the chopper marke...

February 13, 2019 No Responses

Eterna Targets 200 Petrol Stations In Five Years

The Management of Eterna Plc has concluded plans to establish not less than 200 petrol stations in the next five years from the 35 it currently operates. Speaking in Lagos on Tuesday, Managing Director, Mahmud Tukur also declared that market...

February 13, 2019 No Responses

NBS: Agriculture Sector Grew By 18.58% In Q4, 2018

The National Bureau of Statistics (NBS), said the agriculture sector of the economy measured by Gross Domestic Product (GDP) grew by 18.58 per cent year-on-year in nominal terms in fourth quarter of 2018. The bureau said four activities of crop...