ExxonMobil in historic Nigerian court appearance in $23m suit
Phillip Isakpa
August 15, 2022
Suit relates to former Nigerian staff engaged in Iraq Likely to reveal ExxonMobil dealings in Iraq To provide understanding of IOC’s staff treatment United States multinational oil giant, ExxonMobil Corporation, will on Monday, 15 August, 2022, make a historic first time ever appearance in a Nigerian court to defend itself in a $23 […]
SFS Capital launches mobile app to promote individual investments
Onome AmugeAugust 11, 2022
SFS Capital Nigeria Limited, a leading investment management firm in Nigeria and asset management division of the SFS Group, has launched the SFS Fund Mobile App, an innovative service uniquely designed to ensure individual investors maximise their returns from its investment vehicles. The mobile app which, is available for free download on Android and iOS, has […]
Aluminium, copper slip over China’s weak demand
Onome AmugeAugust 10, 2022
Aluminium and copper prices traded lower on the London Metal Exchange (LME) during Wednesday’s midday trading following concerns about slow demand in top consumer China, with the Asian giant’s construction sector yet to recover from the economic impacts of its recently-suspended Covid-19 lockdown. Three-month aluminium on LME was down 0.8 percent to $2,470 a […]
Grain trades lower as Ukrainian exports rise
Onome AmugeAugust 9, 2022
Wheat, corn and soybean prices declined significantly on the Chicago Board of Trade (CBOT) as two more ships carrying corn and soybeans departed from Ukrainian ports on Monday, taking the total to 10 since the first ship sailed a week ago under a deal with Russia to unblock Ukrainian grain exports into global markets. Market […]
World market lightens up as Ukraine’s grains resume shipment
Chris IkosaAugust 8, 2022
The international market which has been extensively troubled by the devastating impact of the Russia-Ukraine crisis experienced a glimmer of hope following the gradual restoration of grain exports from Ukraine via the Black Sea region. This came after the Joint Coordination Centre (JCC), officially inaugurated on July 27, 2022 in Istanbul, Turkey, comprising representatives […]
Global airlines fancy profits in 2023, but outlook gloomy for Nigerian carriers
Maduabuchi EfegadiAugust 8, 2022
BY MADUABUCHI EFEGADI As IATA revises 2022 loss to $9.7bn from $42.1bn Global airlines are expected to post a much lower aggregate loss this 2022, a year already in H2. The International Air Transport Association (IATA) revised the loss down to $9.7 billion, a sharp improvement from an earlier $42.1 billion, with […]
World market lightens up as Ukraine’s grains resume shipment
Onome AmugeAugust 6, 2022
The international market which has been extensively troubled by the devastating impact of the Russia-Ukraine crisis experienced a glimmer of hope following the gradual restoration of grain exports from Ukraine via the Black Sea region. This came after the Joint Coordination Centre (JCC), officially inaugurated on July 27, 2022 in Istanbul, Turkey, comprising representatives of […]
Nigeria begins audit of domestic airlines to ensure safety
Chisom NwatuAugust 4, 2022
By Chisom Nwatu The Nigerian Civil Aviation Authority (NCAA) is carrying out economic and financial audits of eight domestic airlines operating in the country and has already begun with three. Musa Nuhu, NCAA director-general, who briefed journalists at the Murtala Muhammed Airport, Lagos on Wednesday, said the audit became necessary so as to […]
Nigeria food crisis could be amplified by drought beyond ‘Horn of Africa’
MADUBUCHI EFEGADIAugust 3, 2022
BY MADUBUCHI EFEGADI Ukraine war raises strain caused by Covid-19 Tens of millions of Nigerians, already harried by the worst inflation in history, could be further threatened by starvation from food shortage from Africa’s drought, which has reached far beyond the Horn of Africa, a report by ForAfrika, has stated. The largest indigenous African […]
Impact of crude oil theft, vandalism could gulp 50% of Nigeria’s budget, Shell warns
Onome AmugeAugust 3, 2022
The Nigerian government could be spending up to 50 percent of its budget to fix the mess impacted by crude oil theft, illegal bunkering and damaged facilities in Niger Delta communities unless the administration takes an urgent action to address the issues. Igo Weli, country head/director of corporate relations, Shell Petroleum Development Company (SPDC), issued the warning […]