Saudi Arabian state oil producer Aramco, on Tuesday, posted a 39 per cent jump in its third-quarter net income that beat analysts’ forecasts, boosted by higher crude oil prices and volumes sold. Aramco’s net income rose to $42.4 billion for the three months to Sept. 30 from $30.4 billion a year earlier, it said in […]
Oil prices rose on Tuesday, paring losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world’s second-largest oil consumer. Brent crude for January delivery rose 73 cents, or 0.8 per cent, to $93.54 a barrel at 0406 GMT […]
President Nana Addo Dankwa Akufo-Addo of Ghana has outlined measures to halt the depreciation of the country’s currency, cedi. Akufo-Addo announced these measures in a televised nationwide address, blaming the COVID-19 pandemic and the Russian-Ukrainian conflict for the country’s economic woes. He also blamed currency speculators and unlicensed currency dealers dubbed as “black market operators” […]
The World Bank has approved $275 million in concessional financing targeted at securing support for fiscal stabilisation and accelerated economic growth programs, a senior government official has said. Situmbeko Musokotwane, the Minister of Finance and National Planning said the approval was granted through the World Bank’s International Development Association (IDA) at a meeting of its […]
The Federation Account Allocation Committee (FAAC) has shared a total sum of N760.235 billion September 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils. The figure is contained in a communiqué issued at the end of the FAAC meeting for October 2022. A total of N760.235 billion revenue comprised distributable statutory […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Wednesday announced plans by the Apex bank to redesign the N200, N500, and N1,000 notes. Emefiele made the announcement during a special press briefing in Abuja. He said that the redesign would take effect from Thursday, Dec. 15. He also said that existing […]
The Managing Director/Chief Executive Officer (CEO) of Leadway Assurance, Mr Tunde Hassan-Odukale, has cautioned corporate business owners and governments on the overwhelming rise in cybersecurity risks. Hassan-Odukale said, on Wednesday in Lagos, that crucial steps needed to be taken to mitigate the unprecedented risk attack. He was reacting to a recent report by Kaspersky, a […]
The NIGERIA LNG Limited (NLNG) has called on stakeholders in the domestic Liquified Petroleum Gas (LPG) value chain to invest in the supply of the product to ensure a reliable and steady stream of supply to the market. Dr Philip Mshelbila, Managing Director of NLNG made the call at a conference in conjunction with the […]
Kenya’s Capital Markets Authority (CMA) said on Tuesday that it has developed rules to enable micro, small and medium enterprises (MSMEs) to raise capital through crowdfunding. Wycliffe Shamiah, the Chief Executive Officer of CMA, said the new rules pave the way for Kenya’s MSMEs, which employ some 15 million people in the workforce, to raise […]
Rowdiness and long queue resurfaced in many fuel stations in Lagos, on Tuesday, following a short supply of petrol, resulting in panic buying by motorists. The NewsZenith reports that queues are beginning to build in some filling stations in Lekki-Aja, Victoria Island, Apapa, Maryland, Onipan, Ikoyi Mjushin and Victoria Island among others. Our correspondent also […]