Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition
Businessam Staff
November 20, 2017
The battle to acquire 9Mobile, Nigeria’s fourth largest telecoms operator, has heated up, with ten out of sixteen firms that submitted expression of interest for the telecoms firm already prequalified by Barclays bank, the financial adviser to the deal to go on to the financial bid stage of the process. Sources told businessamlive that the […]
Warren Buffett, Bill Gates reveal best business decisions they’ve ever made
Businessam StaffNovember 20, 2017
Warren Buffett and Bill Gates have both founded highly profitable companies so it’s safe to say that they’ve made quite a few smart business decisions. In an on success with students at the University of Washington’s business school, the two billionaires, according to CNBC, pinpoint the best business decisions they’ve ever made. Buffett says that his […]
Nigeria’s pension authority limits withdrawals from voluntary contributions to once in 2yrs
Businessam StaffNovember 20, 2017
Nigeria’s pension regulatory authority, the National Pension Commission (PENCOM), has set limits on withdrawals from voluntary contribution accounts to once every two years in order to curb frequent withdrawals and ensure appropriate tax payments. In a circular to all pension fund administrators (PFAs) and pension fund custodians (PFCs) at the weekend, PENCOM said it was […]
Nigeria economy grows 1.4% in q3 as oil production increases to 2.03m bpd
Businessam StaffNovember 20, 2017
Nigeria’s economy expanded in the third quarter 2017, as oil production output increased. The gross domestic product of Africa’s largest crude producer expanded 1.4 percent in the three months through September from a year earlier, compared with a revised 0.72 percent in the second quarter, according to the report by National Bureau of Statistics released […]
What Warren Buffett really thinks about Bitcoin
Businessam StaffNovember 19, 2017
Bitcoin is not only the top digital currency on the market today; it’s an incredibly volatile investment. Opinions are sharply divided on bitcoin’s suitability as a currency, and as an investment; some consider it to be the future of money, while others believe it’s only the fad of the moment. Falling squarely into the second […]
Global banks flag concerns over U.S. Senate tax proposal
Businessam StaffNovember 19, 2017
Global banks raised concerns on Saturday over a provision in the U.S. Senate tax bill aimed at cracking down on tax avoidance by multinational corporations that they said could hurt the banking industry, Media reports said. Banks initially looked to be one of the major winners of Republican lawmakers’ efforts to overhaul the U.S. tax […]
IMF, statisticians gather on measuring welfare in a digital economy, continued relevance of the GDP tool
Businessam StaffNovember 17, 2017
The debate on whether gross domestic product (GDP) is a great tool for measuring economic welfare in the 21st century is ongoing as the International Monetary Fund (IMF) holds the Fifth Statistical Forum at its headquarters in Washington DC. The statistical forum is a platform for policymakers, academics, researchers, and compilers of economic and financial […]
Lumi, a new currency, debuts, it’s not digital but solar, uses sun as peg for its value
Businessam StaffNovember 17, 2017
The growing profile of digital currencies such as bitcoin may be met with competition from a new innovative currency, Lumi, which is pegged against Africa’s biggest resource, the sun. The new currency on the block is developed in a tiny village in Western Jamaica, Accompong. Announcing the introduction of the Lumi, Timothy McPherson, Accompong’s minister […]
Why Russia might not support OPEC’s deal extension beyond March
Businessam StaffNovember 17, 2017
Russia, the world’s largest oil exporter could be poised to back out of a widely anticipated extension to global supply cuts, Chris Weafer, senior partner at Macro-Advisory, said Friday, according to reports monitored on CNBC. He said if oil stays in the $60 to $65 a barrel range, Moscow’s support for a deal extension beyond […]
World’s biggest wealth fund divesting out of petroleum, gas stocks to hedge against oil-price risk
Businessam StaffNovember 17, 2017
Norway’s $1 trillion wealth fund amassed through pumping oil and gas over the past two decades wants out of petroleum stocks. According to its central bank Thursday, the country, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in […]