Samsung targeting $10bn sales in India over 2018

Samsung is targeting $10 billion worth of sales in India over the course of this year, The Economic Times reported Monday, citing an unnamed company official. The tech giant’s performance in the South Asian country is expected to be largely fueled by select consumer electronics categories such as smartphones, appliances, and TVs, with its main […]

Israeli’s Delek Drilling announces $15bn export deal with Egypt

Yossi Abu, chief executive of Delek's subsidiaries Delek Drilling and Avner Oil

Israeli energy company Delek Drilling has announced a $15 billion deal to supply natural gas to Egypt. Delek and its U.S. partner, Noble Energy, signed a deal Monday, according to Associated Press to sell a total of 64 billion cubic meters of gas over a 10-year period to Egyptian company Dolphinus Holdings. Yossi Abu, chief executive […]

UBA contactless cards hit industry high of 3m

United Bank for Africa (UBA) Plc. says it has issued of over three million near field communication (NFC) technology enabled contactless cards to its teeming customers. The contactless cards, introduced in 2015, are a revolution in the payments landscape in Nigeria in 2015, which enable customers to pay with ease by leveraging the NFC technology. […]

Japaul Services signs $350 million financing agreement with Milost Global

Japaul Oil and Maritime Services Plc. have signed a $350 million financing agreement with Milost Global Incorporated. The financing was arranged and negotiated by Palewater Advisory Group Inc in New York and Banklink Africa Limited in Nigeria. The funds will be injected into the company, with a focus on its mining operations. Milost Global had recently […]

UACN explains liquidation of Gossy spring water

United Africa Company of Nigeria (UACN) has listed low purchasing power, associated logistics challenges,100 percent reliance on company generated power and difficult operating environment as the reasons why it decided to liquidate its water business, Gossy spring water. The disclosure further lends credence to the position by members of the organised private sector about a […]

Challenger energy suppliers top customer satisfaction ranking

Challenger suppliers have topped an annual customer ranking of energy companies but overall satisfaction has dropped for the first time since 2011. Octopus Energy took first place for overall customer satisfaction with a score of 96% after being included in the uSwitch.com report for the first time after launching in 2016. Small suppliers swept the […]

GTBank reduces transfer fee to other banks on *737# service

Guaranty Trust Bank Plc. has announced significant reduction in it USSD (*737#) money transfer charge to the other banks. The lender in a mail sent to its customers Thursday informed them of the reduction in the convenience fee when they transfer money to other banks using *737# service. “This means that you will now pay […]

Nigerian Breweries to pay shareholders N33bn dividend

The board of directors of Nigerian Breweries Plc has announced its results for the 2017 operating year with a dividend recommendation of N33 billion to its shareholders. The recommendation, which amounts to a total dividend of N4.13 per share for the 2017 operating year was part of the company’s filing to The Nigerian Stock Exchange […]

Russia’s RDIF says to finalise Eurasia drilling deal with Aramco

The Russian Direct Investment Fund (RDIF) on Wednesday said it expected to finalise a deal with Saudi Arabia’s Aramco to invest in oilfield services firm Eurasia Drilling. “We expect to finalize an agreement very shortly to have our energy platform with Saudi Aramco invest in Eurasia Drilling and also provide services to Saudi Aramco,” Kirill […]