Warren Buffett trashes bitcoin again as tech billionaires unstirred about cryptocurrencies
Businessam Staff
May 6, 2018
Warren Buffett, billionaire and a notorious bitcoin bear, again hit at cryptocurrencies during the 2018 Berkshire Hathaway annual shareholder meeting on Saturday, May 5, referring to the digital currencies as “rat poison squared. On the contrary, younger generation of tech billionaires like Jack Dorsey, Twitter CEO Peter Thiel, PayPal co-founder and Tim Draper, tech venture capitalist are […]
NNPC committed to end fuel importation, names firms to finance refineries rehabilitation in June
Businessam StaffMay 6, 2018
The Nigeria state oil company will, in June, announce names of the selected companies that will finance the rehabilitation of Nigeria’s three refineries in Port Harcourt, Warri and Kaduna, in an effort committed to actualizing the December 2019 target set by the federal government to end the importation of petroleum products into the country. It […]
Global consumers to spend more time online than TV in 2018, report shows
Businessam StaffMay 5, 2018
Online media will overtake television and all other mediums in terms of time spent on a single media format, globally, for the first time in 2018, according to a report by GroupM The report by the New York-based media investment group of WPP, released Thursday said in 2018, consumers will spend an average 9.73 hours […]
Nigeria, others to benefit from FOA 32 years livestock project
Businessam StaffMay 5, 2018
Nigeria has joined five other African countries to benefit from the Food and Agriculture Organisation (FAO) of the United Nation’s Africa Sustainable Livestock (ASL 2050) project. The project, which will be funded by the United States Agency for International Development (USAID), was built on the evidence that demand for animal sourced food will grow rapidly […]
Nigeria crudes struggle against US oil in Europe despite high diesel cracks
Businessam StaffMay 4, 2018
Nigerian sweet crudes have struggled to find homes in the European market despite the relative strength of diesel cracks in Europe, as competition among the Atlantic Basin sweet crude grades heightened in the last two months, according to a Hellenic Shipping News report. Refiners in Northwest Europe are said to be seeing more offers of […]
World Bank urges Nigeria to focus on connective infrastructure to enhance access to markets
Businessam StaffMay 4, 2018
The World Bank has urged policymakers in Nigeria to focus on investments that reinforce clusters and economies of scale and optimise the connectivity between rural areas and the major urban markets in order to reduce unemployment and poverty rates in Africa largest economy. “Nigeria has a big home market, which is constrained by limited connective […]
Vivo Energy launches largest Africa-focused IPO on London Stock Exchange
Businessam StaffMay 4, 2018
Vivo Energy PLC launched on the London Stock Exchange on Friday with a valuation of nearly two billion pounds ($2.7 billion), the largest London IPO so far this year and the largest Africa-focused IPO in more than a decade. According to a Reuters report, the initial offer price for the just under 30 percent of […]
Profit taking in bellwethers halts Nigerian stocks positive run as NSEASI goes down 0.48%
Businessam StaffMay 3, 2018
Nigerian stocks index fell 48 basis points Thursday to close 41,107.81 points as investors claw back gains in bellwethers, including – DANGCEM (-1.1%) and NIGERIAN BREWERIES (-1.4%). The day’s performance momentarily halted three days of consecutive positive trade which was driven by interest in value stocks, as well as positive reaction to corporate earnings. Year-to-date […]
Nigeria’s GTB, FBNQuest, FirstBank emerge top nominees for 2018 African Banker Awards
Businessam StaffMay 3, 2018
Nominees for the 2018 African Banker Awards have been announced with Nigeria’s Guaranty Trust Bank (GTB), FBNQuest Merchant Bank and First Bank of Nigeria Limited among the shortlist. Guaranty Trust Bank is nominated for the Bank of the Year Award while its managing director, Segun Agbaje, got shortlisted for the African Banker of the Year. […]
Barclays Africa drops KPMG as auditors over partners’ financial interest in another bank
Businessam StaffMay 3, 2018
The board of directors of Barclays Africa Group Limited (BAGL) has announced that it has withdrawn its recommendation to reappoint KPMG as auditors. The decision comes weeks after two KPMG partners were found to have had undeclared financial interests in the embattled South African VBS bank. Barclays Africa Group Limited, in its initial notice of […]