Stock futures snap four-day rally as trade talks, retailers disappoint

January 10, 2019

U.S. stock index futures dipped on Thursday, after a solid four-day rally, as lack of details on U.S.-China trade talks gave investors pause, while retailers came under pressure after a couple of disappointing holiday-season reports. Beijing said the talks with Washington were extensive and helped establish a foundation for the resolution, but gave no    […]

After resigning, World Bank chief joins Nigerian business man in private business

January 9, 2019

World Bank President, Jim Yong Kim, who announced his resignation from the international bank, has revealed he is going into private business practice with Nigerian born businessman, Bayo Ogunlesi. Financial Times reports that Jim Yong Kim would join Ogunesi’s Global Infrastructure Partners, a New York-based private equity fund, in a position, where he would be […]

Jim Kim, World Bank president dumps position for investment firm

Adesola AfolabiJanuary 8, 2019

Jim Yong Kim World Bank President has announced plans to resign from the World Bank on Feb. 1 to join a firm focused on infrastructure investments, the Breton wood institution announced Monday. Kim is leaving the bank nearly three years before his term is set to expire in 2022, to focus on increasing infrastructure investments […]

JPMorgan says payments to Libya oil-fund fixer weren’t bribes

January 7, 2019

JPMorgan Chase & Co. acknowledged that Bear Stearns made millions of dollars of payments to a friend of the son of Libyan dictator Moammar Al Qaddafi around the time it raised $200 million for the country’s wealth fund. But the bank is refuting the Libyan Investment Authority’s central allegation in a London lawsuit that the […]

Wall Street sinks 2 percent on weak factory data, Apple shock

January 3, 2019

Wall Street sank 2 percent on Thursday as weak U.S. factory data and the fallout of a rare sales warning from Apple Inc fanned fears of slowing growth and spurred the latest leg of a selloff that has sent indexes to their lowest since mid 2017. Apple’s shares slumped 9.2 percent after the company slashed […]

Trading resumes on bearish note

January 2, 2019

Trading activities resumed for the year on the Nigerian Stock Exchange (NSE) on a bearish note with the All-Share Index dropping by 1.15 per cent. Reports have it that the index which opened at 31,430.50 shed 360.44 points or 1.15 per cent to close at 31,070.06 due to losses by some highly capitalised stocks. Also, […]

Nigeria commences mandatory use of national identity number

Nse Anthony-UkoJanuary 2, 2019

In line with federal government directive, the implementation of mandatory usage of the National Identification Number (NIN) has commenced with effect from January 1, 2019, the National Identity Management Commission (NIMC) has announced. At its meeting on September 12, 2018 chaired by President Muhammadu Buhari, GCFR, the Federal Executive Council (FEC) approved the new National […]

Abuja, Cross River, Kebbi residents pay highest transport fare in November

Nse Anthony-UkoDecember 27, 2018

Residents of FCT, Cross River and Kebbi states paid the highest bus fares within their cities in November, the National Bureau of Statistics (NBS) has said. The bureau, in its transport fare watch report for November, said residents of Abuja, the Federal Capital Territory paid an average of N395.00; residents of Cross River paid N320.00 […]