City Archives — Page 485 of 488

July 23, 2016 No Responses

Fiat recalls 410,000 vehicles worldwide

Fiat Chrysler Automobiles said it is recalling nearly 410,000 vehicles worldwide because of a defect that can lead to a loss of propulsion. The automaker said on Friday it will update software and replace wire harnesses to address the electronic...

July 22, 2016 No Responses

FG begins negotiation with militants

The Federal Government has commenced negotiation with militants through oil companies and law-enforcement agencies. President Muhammadu Buhari who spoke at farewell audience with the outgoing Ambassador of Germany, Mr Michael Zinner on Thursday said the m...

July 22, 2016 No Responses

NIMASA implores IOCs on Nigeria’s environmental laws

By Moses Ebosele – The Nigerian Maritime Adminstration and Safety Agency (NIMASA) will no longer tolerate disregard for Cabotage and environmental laws by the International Oil Companies (IOCs) operating in Nigeria, Director General, Dr Dakuku Peter...

July 22, 2016 No Responses

Cosco gets subsidy to uplift fleet

Hong-Kong listed shipping and logistics company, China COSCO Holdings Co (CCHC) has received subsidy amounting to$28.3 million from China COSCO Corporation, the indirect controlling shareholder of the company, for the decommissioning and upgrading of its ves...

July 22, 2016 No Responses

Nigeria in recession, minister admits

The Minister of Finance, Mrs Kemi Adeosun, has admitted that Nigeria’s economy is going through a recession. Speaking during plenary session at the Senate, the minister explained that the Federal Government is aware of the sufferings the recession may have.....

July 21, 2016 No Responses

Presco shareholders get N1billion dividend today

By Moses Ebosele – Proposal by the board of Presco Plc to pay a dividend of 100kobo per share, amounting to N1billion for the year ended December 31, 2015 has been approved by shareholders. Addressing shareholders yesterday during the company’s.....

July 21, 2016 No Responses

Lafarge records N28billion loss in Q2

By Moses Ebosele – For the second quarter ended June 2016, Lafarge Africa Plc has recorded a pre-tax loss of N28billion. In its report to the Nigerian Stock Exchange (NSE) yesterday, the company attributed the loss to dwindling foreign...

July 21, 2016 No Responses

NSE partners Dangote Cement on price information scheme

By Moses Ebosele – The Nigerian Stock Exchange (NSE) has entered into a contract to provide Dangote Cement Plc its Issuers Share Price Information service. The Issuers Share Price Information is an offering that enables companies listed on the...

July 21, 2016 No Responses

Buhari appoints Ekere as MD of NDDC, Ndoma-Egba as Chairman

Former Deputy Governor of Akwa Ibom State, Nsima Ekere and Senator Victor Ndoma-Egba have been appointed by President Muhammadu Buhari as Managing Director and Chairman of Niger Delta Development Commission (NDDC) respectively. Already, their names ha...

July 21, 2016 No Responses

Turkey declares three months state of emergency

Turkey will impose a three-month state of emergency as the government pursues those responsible for a failed military coup, President Recep Tayyip Erdogan has said. Agency report quoted Erdogan as saying the country won’t be under military rule, with arm...

July 21, 2016 No Responses

NFF appoints Yusuf as Le Guen’s replacement

The Executive Committee of the Nigeria Football Federation (NFF) has named Salisu Yusuf as the new Super Eagles Head Coach following Frenchman Paul Le Guen’s rejection of the job. The News Agency of Nigeria (NAN) reports that the Technical and...

July 20, 2016 No Responses

Minister insist on ports’ audit

By Moses Ebosele – The Minister of Transportation, Rotimi Amaechi has reiterated Federal Government resolve to audit operations and activities at the nation’s Seaports. Speaking in Abuja after a meeting with the management of Nigeria Shippers ...

July 20, 2016 No Responses

Expert cautions against mass retrenchment

By Moses Ebosele – AN economist, Matthew R. Otoide has challenged the Federal Government to ‘do everything within its power’ to stop ongoing retrenchment across the country. In a chat with City BusinessNews, Otoide explained that the developme...

July 20, 2016 No Responses

UBA partners Mastercard on payments infrastructure

TO further consolidate on its activities, United Bank for Africa (UBA) has partnered Master Card on payment infrastructure across the Africa continent. The partnership which cuts across the 19 African countries in which UBA currently operates include Nige...