How Okonjo-Iweala defeated U.S opposition to emerge WTO director general
Onome Amuge
1hr
Onome Amuge The emergence of Ngozi Okonjo-Iweala, two-time Nigerian finance minister and former managing director of the World Bank, is a historic feat as she becomes the first female director-general of the World Trade Organisation (WTO) and the first ever African to achieve the position. The 66-year-old renowned economist and international development expert polled 104 […]
Covid-19 pandemic to fuel $4trn global GDP loss in 2020
adugbaesaviour3 hrs
Charles Abuede The economic uncertainties occasioned by the coronavirus induced-recession will see many economies’ real gross domestic product (GDP) plunged by $3.94 trillion in 2020, statistical data compiled and presented by BuyShares show. The statistic also shows ten countries, which will be impacted the most, will cumulatively lose $696.56 billion in real GDP due to the […]
MTN Nigeria grows 9-months revenue 13.92% to N975.8bn
Charles Abuede4 hrs
Charles Abuede PBT down 0.6% to N211.6bn; PAT fell 3.3% to N144.24bn Mobile subscribers rose by 3.9m in 9 months to 75m Active data users on the network surged by 1.7m to 30.7m Nigeria’s telecommunication markets leader, MTN Nigeria, has announced a 13 per cent rise in its total revenue to N975.76 billion for […]
Oil worries increase as prices relapse, U.S crude stocks surpass expectations
Onome Amuge10 hrs
Onome Amuge Oil prices plunged about two percent on Wednesday, giving up most of the previous day’s gains, as the U.S. crude stocks recorded an unexpected surge. Brent crude, which climbed nearly two per cent to sell at $40.87 on Tuesday slipped 1.8 per cent at $40.44 a barrel. U.S. oil suffered a worse hit […]
Investors take N105.8bn profit in equities trading as bulls’ momentum continues on Nigeria bourse
Charles Abuede11 hrs
Charles Abuede Investors took a profit of N105.8 billion in Tuesday’s equities market trading on the Nigerian Stock Exchange (NSE) as the bulls continued to maintain the momentum they opened the market with this week, following a bullish close last week. The local bourse inched up by 0.70 per cent in the day’s session as […]
Bayelsa suffers setback as Supreme Court strikes out case on multi-billion-dollar Soku oilfields
BEN EGUZOZIE11 hrs
Ben Eguzozie, in Port Harcourt Returns matter to appeal court The nation’s apex court, the Supreme Court on Tuesday struck out Bayelsa State’s case seeking the nullification of a federal high court’s judgement on multi-billion-dollar Soku oilfields which had awarded the oilfields to neighbouring Rivers State. According to the Supreme Court’s panel of seven justices […]
Nigerian miners seek engagement with FG over reviving Ajaokuta Steel Mill
adugbaesaviour11 hrs
Onome Amuge A group of professional miners, under the auspices of the Miners’ Association of Nigeria (MAN), has charged the federal government to actively engage them in the planned reconstruction and operational revival of the Ajaokuta Steel Company Limited. The miners made the call following a Memorandum of Understanding between the Nigerian and Russian governments […]
CBN’s PMI fall continues despite 2.5bps rise to 49.4 points in October
Charles AbuedeOctober 27, 2020
Charles Abuede Non-manufacturing PMI still slower at 46.8 points The October 2020 PMI data released by the CBN shows a rise of 2.5 basis points to 49.4 index points from 46.9 index points recorded for September, a demonstration of an easing back constriction in the manufacturing sector for the sixth month, the recent PMI report […]
Crude oil price rises amid U.S gulf shutdowns, troubling outlook
Onome AmugeOctober 27, 2020
Onome Amuge Crude oil price jumped on Tuesday towards $41 a barrel amid surging coronavirus infections, U.S stimulus uncertainties and an ascending Libyan production rate. Brent crude gained one percent to sell at $40.87 per barrel, U.S. oil also rose by one percent to $38.94 after both contracts slid about three per cent on Monday. […]
Access Bank, WEMA, FCMB offer to help rebuild in aftermath of #EndSARS destructions
Saviour AdugbaOctober 27, 2020
Saviour Adugba In the wake of the violence and destructions that followed days after the #EndSARS protests in Lagos and other parts of Nigeria, some Nigerian banks are offering to play their part in helping businesses affected get back on their feet. Banks like Wema Bank, Access Bank and FCMB are offering to help in […]