By Peter Ejiofor A Ugandan national, suspected to be on a revenge mission against his father, has set fire to the automobile workshop in Vom Hagen Street, Pretoria, Gauteng, South Africa. The Nigeria Union South Africa (NUSA) said in a statement, on Tuesday in Pretoria, that the suspected arsonist destroyed nine cars and auto parts. […]
India’s factory activity, determined by the Index of Industrial Production (IIP), grew 5.7 per cent in July, the government data showed on Tuesday. For the month, the quick estimates of IIP with the 2011-12 fiscal year’s base stand at 142. In July, the indices of industrial production for mining, manufacturing and electricity sectors stood at […]
From Our Correspondent Broadband penetration nearing 50% by year-end According to the Nigeria Bureau of Statistics (NBS) computation, the telecommunications sector’s contribution to the nation’s Gross Domestic Product (GDP) has risen to 16 per cent in the second quarter of 2023. The Chief Executive Officer of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, announced […]
From Our Correspondent Vice-President Kashim Shettima says the recent policies and programmes introduced by President Bola Tinubu’s administration are already yielding tangible results. Shettima made this remark while opening the 16th Annual Banking and Finance Conference, on Tuesday, in Abuja. TheNewsZenith reports that the theme of the conference is “Nigeria’s Economic Growth and Empowerment: The […]
The global trade finance gap grew to a record $2.5 trillion last year from $1.7 trillion in 2021, according to an Asian Development Bank (ADB) survey released, on Tuesday, in Manila, Philippines. This is because continued constraints reduced the capacity of banks to deliver trade financing. The trade finance gap is the difference between requests […]
Vice President Kashim Shettima has challenged the Presidential Committee on Fiscal Policy and Tax Reforms to develop a robust roadmap that would transform the nation’s economy. Shettima posed the challenge when he hosted members of the Committee, led by its Chairman, Mr Taiwo Oyedele on Monday in Abuja. “The task before you is enormous. I […]
From Our Correspondent The Federal Government says it will plough back benefits accruable from subsidy removal to boost revenue and improve business environment for local and foreign investment. Chief Wale Edun, the Minister of Finance, announced this after the inaugural Federal Executive Council meeting on Monday in Abuja. Edun, also Coordinating Minister for Economy, said […]
Pakistani Rupee dropped to an all-time low against the U.S. dollar, crossing the barrier of 300 Rupees to the greenback, on Thursday, the State Bank of Pakistan said. The closing exchange rate of the Pakistani currency in the interbank market stood at 300.22. This is a decrease of 0.58 rupee or 0.19 per cent from […]
The Federal Mortgage Bank of Nigeria (FMBN) says the Integrated Personal Payroll Information System (IPPIS) failed to remit N26.6 billion of workers’ contributory funds in two years. Managing Director of FMBN, Madu Hamman, announced this while appearing before the House of Representatives Ad hoc committee probing non-remittance to the National Housing Fund (NHF) and utilisation […]
By Abdulfatah Babatunde Nasarawa State Government and the National Agency for Science and Engineering Infrastructure (NASENI) are partnering to formulate policy on mining and local processing of lithium minerals in the State. The policy is in line with NASENI’s drive to encourage the processing of strategic solid minerals. This is to enhance the local […]