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Business
Gold rallies on positive global cues, jewellers’ buying
Gold prices rose by Rs 60 to Rs 32,060 per 10 gram at the bu..
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Credits to households, corporates up in Q4 2018 on back of improved economic condition
The fourth quarter (Q4) 2018 credit condition survey for households, small businesses and corporate entities indicated an increase in availability of secured credit to households and corporates entities, and increased availability of unsecured credit to households, the latest Credit Condition Survey report from the Central Bank of Nigeria (CBN) has shown. The report stated that...
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Lafarge Africa’s Rights Issue of N89.2bn opens
Lafarge Africa Plc notified the Nigerian Stock Exchange (NSE) of the clearance by the Securities and Exchange Commission (SEC) to open its announced N89.2 billion Rights Issue. In the notice signed by Adewunmi Alode, Company Secretary,  Lafarge Africa Plc, the company noted that the offer which opened on Monday December 17, 2018 will close on...
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Man Utd fires Mourinho after Liverpool humiliation, Carrick set to take charge
Jose Mourinho has left his job as Manchester United manager after two-and-half years in charge. A club statement said: “The club would like to thank Jose for his work during his time at Manchester United and to wish him success in the future. “A new caretaker-manager will be appointed until the end of the current...
Business Day -
Breaking: Manchester United fires Mourinho after Liverpool humiliation
Jose Mourinho has left his job as Manchester United manager after two-and-half years in charge. A club statement said: “The club would like to thank Jose for his work during his time at Manchester United and to wish him success in the future. “A new caretaker-manager will be appointed until the end of the current...
Business Day -
NBS denies FG’s claim on 12m job omission by agency
National Bureau of Statistics (NBS) has denied an allegation by a presidential spokesman that it omitted 12 million jobs created in the informal sector, saying that neither its head nor agency made any such admission to the government or anybody. Garba Shehu, senior special assistant to President Muhammadu Buhari on Media and Publicity, had said...
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Ortom reassures civil servants of salary arrears
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Access Bank to buy rival Diamond to create Nigeria’s largest lender
Access Bank has reached an agreement in principle to buy Diamond Bank in a deal that values Diamond at just over $200m and would create Nigeria’s biggest bank by both deposits and assets. The acquisition, which is subject to shareholder and regulatory approval, would bring to an end Carlyle Group’s troubled investment in Diamond after...
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Benue 2019: Ex-administrator of Katsina flags off senate campaign
Erstwhile Military Administrator of Katsina State Joseph Akaagerger (rtd), has flagged off   his campaign for his 2019 Benue North East Senatorial District (Zone A) election  bid with the promise to fill the “lacuna in service to the people” of Zone A. He is flying the All Progressives Grand Alliance (APGA) flag for the election. Akaagerger,...
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America’s scrambled approach to Africa
The Trump administration has unveiled what John Bolton, the national security adviser, has billed as a “new” Africa strategy for the US. On the commercial front there is indeed some fresh thinking. But much of what Mr Bolton says has emerged from a detailed inter-agency debate about America’s future engagement with the continent, seems to...
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Access Bank to launch $200m rights issue after Diamond Bank acquisition
Access Bank which announced the acquisition of Diamond Bank to create Nigeria’s largest banking institution will launch a subordinated rights issue of about $200m to keep its capital well above regulatory requirements, bankers working on the deal told the Financial Times. Access Bank reached an agreement in principle on Sunday o buy Diamond Bank in...
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Jeremy Corbyn is taking a risk by pressing forward with a confidence vote in Theresa May
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Labours real mission was to run down the clock – and it succeeded
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Life for gig economy workers will only improve if the governments rules can be enforced
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UN assembly approves Ukraine-sponsored resolution on Azov Sea affair, with nearly half abstaining
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Members of Brazilian cannibal sect who fed neighbors human flesh pastries are sentenced
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France is the ‘sick man of Europe’ while Poland is its ‘bright spot’, says Polish foreign minister
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Andrew Broad to leave Parliament following dating website scandal
Nationals MP Andrew Broad will not contest the next election following a scandal involving his use o..
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Boy given 18-year sentence for carjacking murder
Related Story: Man allegedly murdered during attempted supermarket robbery, court told A teenager ..
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Tumor organoids may speed cancer treatment
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Historic Israeli moon landing to ferry Holocaust survivor’s story to space – CNET
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Nigeria remains top destination for foreign portfolio investments – Ogungbesan
Chief Executive, Stanbic IBTC Stockbrokers Limited, Mrs. Titi Ogungbesan spoke to Bala Augie on her firm’s consistent leading performance at the Nigerian Stock Exchange, NSE, since 2006,in terms of recording the highest transaction value,plans for the future, the inroads made by the capital market,and the role of market operators in attracting more investments to the...
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Promoter stake case: HC Refuses interim relief to Kotak Bank
The Bombay High Court declined to provide any interim relief..
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Here are all the bulk deals from Monday’s session
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At years end, emerging markets beholden to Fed
Central banks are cramming in their last decisions of 2018, ..
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Nigeria’s DisCos broke as electricity attracts largest energy investments globally
Electricity Distribution Companies (DisCos), which interface with end-users, occupy a critical position in Nigeria’s power value-chain but struggle to stay afloat because of illiquidity and stifling legal framework, while electricity continues to attract the largest energy investments, globally. On July 17, 2018, Alex Okoh, director general of the Bureau of Public Enterprise said most of...
Business Day -
‘We are looking at the oil and gas space to forge collaboration between Nigeria and Norway’
Taofik Adegbite is the chief operating officer of Marine platforms, an oil servicing company. He was recently appointed as an Honorary Consul of the Norwegian government in Nigeria. In this interview with Olusola Bello, he enumerates how he would forge closer collaborations between Norwegian companies and their Nigerian counterparts in oil and gas, energy and...
Business Day -
What growing interest, confidence in JVs means to real estate consumers
Though joint venture (JV) agreements may not be new in the Nigerian real estate market, in the last couple of years, the market has seen growing interest and confidence in JVs now sweeping across private and public sectors of the economy. While JVs means shared risk, guaranteed capital inflow, increased volume of production and increased...
Business Day -
Why 2019 could be tough for consumer goods firms
Consumer goods firms, who are already feeling the pinch of a tough and unpredictable macroeconomic environment, could face further margin contraction next year. Analysts are of the view that rising interest rates and the expectation of tariff hike on power and fuel by federal government- which would further damp consumer purchasing power as sluggish consumer...
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Fragile economy, low income, credit keep real estate sector in recession
Nigerian real estate  sector has yet again contracted in Q3 2018, in what is the 11th consecutive quarter in recession since the first quarter of 2016, figures available on the sector on the National Bureau of Statistics (NBS) website reveal. At the end of the 9th month of 2018, the real estate sector reported growth...
Business Day -
Nigeria plunges to 133rd on Gender Index as women shrink in economy, politics
Opportunities are shrinking for Nigerian women in terms of participation in politics, attainment of educational heights, health and survival, according to the World Economic Forum’s (WEF) Global Gender Gap Index. The WEF has ranked the country 133rd out of 149th for achieving gender parity. Nigeria failed to make the top 10 list of African nations...
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Agust & Co proposes Cargotecture innovation in bridging housing deficit in Lagos
Agusto & Co. Limited, the foremost Pan African Credit Rating Agency and one of the leading providers of industry research, in its 2018 real estate (Lagos Residential) industry report suggested Cargotecture innovations for solving housing problems in the state. “Going forward, Agusto & Co. believes that Cargotecture innovations in housing may be a solution to...
Business Day -
Access Bank now Nigeria’s largest lender after N27bn Diamond merger
Access Bank Plc is growing fast; swallowing one bank at a time to achieve an old ambition that came closer with the acquisition of Diamond bank. Access Bank’s rise started with its acquisition of a bigger bank in the shape of Intercontinental Bank in 2012, and has followed that up by buying retail banking champion,...
Business Day -
Gas supply, debt reduction, peace in N/Delta help boost power generation
The hope of  improved electricity generation in the West African  sub region is now very bright as the West Africa  Gas Pipeline Company (WAGPC) said that things have really improved in term of gas supply  and settlement of  debts by off takers. The relative peace enjoined in the  Niger Delta has also helped the  operations ...
Business Day -
‘Vacancy created by movements out of properties is a reflection of economy’
The poor state of the Nigerian economy has manifested in various sectors including real estate where falling demand, rent default, high vacancy rate, etc define market reality. In this interview, GBENGA OLANIYAN, an estate surveyor and valuer, offers insights into a struggling market that has remained in negative growth territory for 11 consecutive quarters. He...
Business Day -
Patrick Atuanya takes over as Editor as Anthony Osae-Brown leaves BusinessDay
Anthony Osae-Brown, who has been Editor of BusinessDay since October 2016 will be leaving his position with effect from December 31, 2018. Osae-Brown who joined West Africa’s most authoritative business paper from UBA Plc. is leaving to pursue new challenges. In line with the laid down succession plan already in place, Patrick Atuanya, who is...
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