Trump company to invest £150m in Scottish golf resort
Businessam Staff
July 24, 2018
U.S. President Donald Trump’s company has submitted £150 million ($196 million) investment plan for the development of his golf course in Scotland. The company plans to build 500 residential homes, 50 hotel cottages, sports centre, retail, equestrian and commercial spaces at his Aberdeen resort, along with other leisure facilities. In 2008, the development was first […]
Buy interest in Guaranty, NB, DANGCEM pushes Nigeria benchmark index higher by 0.30%
Businessam StaffJuly 23, 2018
Nigerian stocks Monday traded higher as buy interest in bellwethers – GUARANTY (+2.1%), DANGCEM (+0.6%), NIGERIAN BREWERIES (+0.5%) and FBNH (+1.1%) helped pushed benchmark index, the NSEASI, by 0.3 percent to 36,711.96 points. Consequently, year-to-date (YTD) loss at the bourse declined to -4.0 percent and market capitalization gained N39.3 billion to close at N13.3 trillion. […]
Long-term funds catalyst to drive economic growth, says Osinbajo as he assures investors on Nigerian economy, capital market
Adesola AfolabiJuly 23, 2018
Yemi Osinbajo, Nigeria’s vice president has said that for investors to take advantage of government’s incentives and improved business environment, there needs to be availability of medium to long-term capital in the form of bonds, equity and loans. Osinbajo disclosed this Monday while speaking in Abuja at the 2nd capital market stakeholders’ forum organised by […]
Nigeria’s inflation pace slows for 17th consecutive month to 11.23% in June, says NBS
Businessam StaffJuly 23, 2018
The rate of inflation increases in Nigeria slowed for the 17th consecutive month by 37 basis points to 11.23 percent (year-on-year) in June 2018 from the 11.61 percent recorded in May 2018, according to Nigeria statistical agency, the National Bureau of Statistics (NBS). “The consumer Price Index (CPI), which measures inflation, increased by 11.23 percent […]
World Bank sets record $20 billion for climate financing
Anthony OgboJuly 23, 2018
The World Bank is spending more money than ever on combatting climate change. According to figures released by the institution it invested $20.5 billion during the 2018 fiscal year on projects, which address the impacts of climate change. This represents 32.1 percent of all funding and exceeds its target of spending at least 28 percent […]
Where is N2.9bn wheat fund for 2016/18 seasons?
Temitayo AyetotoJuly 23, 2018
*Farmers moan under poor production conditions, uncompetitive pricing *Official say external forces keen on importation stalling self sufficiency A number of questions are now being asked over the disappearance, followed by silence, of the unaccounted cumulative sum of N2.9 billion intervention funds provided by the Federal Government exclusively for wheat production in the country. The […]
NCC’s 22% broadband penetration claims misleading, lack proper metrics, say analysts
Justice OkamgbaJuly 23, 2018
The Nigerian Communications Commission (NCC) may need to reevaluate its ambitious claim of 22 percent Internet penetration in the country as the metrics upon which the industry regulator arrived at such a figure lack merit and transparency, according to industry analysts. The analysts say the 22 percent broadband penetration was benchmarked on wrong Internet subscribers […]
South Africa’s Sasol profit falls up to 11% on R16bn charge
Businessam StaffJuly 20, 2018
South African Petrochemicals group Sasol said full-year profit probably fell as it takes a 16 billion-rand ($1.2 billion) depreciation charge and accounts for expenses on share-based payments, Reuters reported. Sasol said core headline earnings per share (HEPS) for the year ended June. 30, 2018 are expected to decrease by 46 cents to 4.30 rand ($0.3190) […]
Nigeria’s former finance minister Ngozi Okonjo-Iweala named member of Twitter board
Businessam StaffJuly 20, 2018
Twitter has announced Nigeria’s former finance minister, Dr. Ngozi Okonjo-Iweala as a member of its board of directors. Okonjo-Iweala, was a former senior World Bank official and served as minister of finance in the administration of Goodluck Ebele Jonathan. She was named alongside American lawyer Robert Zoellick to the social media platform’s board, the company […]
Singapore’s health database hacked, 1.5mn personal data stolen
Adesola AfolabiJuly 20, 2018
Singaporean government said on Friday, that hackers have stolen the personal data belonging to about 1.5 million people, about a quarter of the population, including those of Prime Minister Hsien Loong, according to Reuters. The government called the attack “the most serious breach of personal data” that the country has experienced, comes as the highly […]