Economy Archives — Page 259 of 263

July 16, 2016 No Responses

Picketing of NECA by NLC illegal, says Oshinowo

The Nigeria Employers Consultative Association (NECA) has crirised distruption of its scheduled Annual General Meeting (AGM) by Nigeria Labour Congress (NLC) led by Joe Ajaero. NECA in a statement said the protesting workers did not allow any person to...

July 15, 2016 No Responses

Nigerian Breweries records 11.24 % drop in profit

For the first half of 2016, Nigerian Breweries Plc has declared profit after tax of N19.06billion, a drop of 11.24 per cent when compared to N21.47 billion recorded within same period in 2015. However, the unaudited and provisional results released...

July 15, 2016 No Responses

Fitch affirms UBA’s viability rating as Agusto upgrades rating to “Aa”

*Stock now best performing on the exchange. Foremost global rating agency, Fitch International has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”. Meanwhile, the pan-African banking group has continued to sustain its benchmark asse...

July 15, 2016 No Responses

Buhari, Osinbajo, Elumelu sign women empowerment initiative

African businessman and philanthropist, Tony O. Elumelu, CON, joined the First Lady of Nigeria, Mrs. Aisha Buhari and wife of the Vice President of Nigeria, Mrs. Dolapo Osinbajo at a forum and exhibition on Nigerian Women in Export, held in...

July 15, 2016 No Responses

Customs zone ‘A’ impounds N1.2billion contraband in six months

Between January and June this year, the Nigeria Customs Service (NCS), Zone ‘A’, Ikeja made four hundred and Ninety Four (494) different Seizures of prohibited/offending goods valued at N1.2billion. According to a statement issued by the Public Relati...

July 15, 2016 No Responses

Kia Motors declares 268,886 sales in June

For the month of June 2016, Kia Motors Corporation has announced global sales figures (export sales, domestic sales and sales from overseas plants) for passenger cars, recreational vehicles (RVs) and commercial vehicles, recording a total of 268,886 units so...

July 14, 2016 No Responses

FirstBank targets 10million new customers in three years

AS part of its financial inclusion initiative, First Bank of Nigeria Limited has unveiled plan to grow its customer base by over 10 million new customers in the next three years. Managing Director and Chief Executive Officer of First...

July 13, 2016 No Responses

FBN Capital partners Oxford Business Group on research

By Moses Ebosele – FBN Capital has signed a research Memoradum of Understanding (MoU) with Oxford Business Group (OBG). Under the aggrement, a report by OBG will examine the Central Bank of Nigeria’s monetary policy, review the country’s recently-r...

July 13, 2016 No Responses

ASEA partners AfDB on capital market development

By Moses Ebosele – The African Securities Exchanges Association (ASEA) and African Development Bank (AfDB) have signed a Memoradum of Understanding (MoU) aimed at developing capital markets within the continent. Prominent among those who attended the c...

July 12, 2016 No Responses

Nigeria’s economy may shrink this year, says IMF

The International Monetary Fund (IMF) has predicted that Nigeria’s economy will most likely contract this year as energy shortages and the delayed budget weigh on output. The IMF Country Representative in Nigeria, Gene Leon, said:“I think there is a...

July 12, 2016 No Responses

NSE unveils sustainability report, adopts GRI reporting guidelines

By Moses Ebosele The Nigerian Stock Exchange (NSE) has released its 2015 Sustainability Report titled “Ushering in a new era of sustainability in the Nigerian market place”. The report, which is in its second edition, according to NSE demonstrates.....

July 12, 2016 No Responses

Shell, Keppel Offshore form LNG Bunkering JV

KS Investments Pte Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has entered into a shareholders agreement with Shell Eastern Petroleum, a part of Royal Dutch Shell, to form a joint venture company which will establish an LNG...

July 11, 2016 No Responses

NSE’s 123 equities remain unchanged as two trading sessions record 377.798 million shares

By Moses Ebosele One hundrend and twenty three equities remain unchanged last week as the Nigeria Stock Exchange (NSE) opened for two trading sessions. The stock market opened for two trading sessions as the Federal Government declaredTuesday 5th, Wednesda...

July 11, 2016 No Responses

Nigeria seeks partnership with IMO

By Moses Ebosele TO sustain development in the maritime sector, the Minister of Transportation, Chibuike Rotimi Amaechi has expressed Nigeria’s commitment to further partner the International Maritime Organisation (IMO). Speaking in London recently when he ...