Hyundai Overtakes Toyota, Others in Quality, Reliability Hyundai Overtakes Toyota,  Others in Quality, Reliability

Hyundai Overtakes Toyota, Others in Quality, Reliability

Hyundai now has the highest quality of any non-luxury brand surpassing Toyota, Honda, and Nissan – a recent survey conducted by United States based vehicle analyst – CarMD.com has revealed. Hyundai had in two consecutive years finished second but overtook Toyota in the latest index and drove to the top of the list with its [...]

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New Storm Potential for Natural Gas New Storm Potential for Natural Gas

New Storm Potential for Natural Gas

Brent crude has hit a 9-month low as oil looks beyond the geopolitical risk into a well-supplied market. Production is up in Iraq, it is up in Libya and up in the United States. The only thing that is not up is oil demand expectations. As we head ever closer to the shoulder season a [...]

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NCRIB Beckons on NLC to Take Advantage of Pension Reform NCRIB Beckons  on NLC to Take Advantage of Pension Reform

NCRIB Beckons on NLC to Take Advantage of Pension Reform

Temitope Aluko   National Council of Registered Insurance Brokers (Ncrib), the umbrella body of insurance brokers in the country has called leadership of the Nigerian Labour Congress (NLC) to take advantage of the 2014 Pension Reform Act to advance the course of its members.   Mr. Ayodap Shoderu, President Ncrib made this call during an [...]

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CBN Introduces Revised Guidelines for MSMEDF CBN Introduces Revised Guidelines  for MSMEDF

CBN Introduces Revised Guidelines for MSMEDF

THE Central Bank of Nigeria (CBN) has released a revised version of the operational guidelines for Micro, Small and Medium Enterprises Development Fund (MSMEDF).   The development, which came in realization of the significant contributions of the Micro, Small and Medium Enterprises (MSME) sub-sector to the economy, was also necessary to bridge accessed gaps. According [...]

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News

Uquo Gas Facility to Boost Power Generation

Uquo Gas Facility to Boost  Power Generation

From Patrick Effiong, Uyo   The federal government’s power generation’s target has been given a boost with the commissioning of the multi-million dollars Uquo Gas Processing facility in Akwa Ibom state by President Goodluck Jonathan. The project was commissioned last week by the president.   Located in Esit Eket local government of the state, it [...]

Aug 18, 2014 6:32

IT

Total Investments in Nigeria Hits $10bn

Total Investments  in Nigeria  Hits $10bn

Total  Exploration and Production Nigeria Limited (TEPNG) has stated that it has invested about $10 billion (N1.6 trillion) in Nigeria’s oil and gas industry in the last five years. This, according to the company, is even as it pledged further investment and completion of some complementing projects before the end of 2014.   The French [...]

Aug 18, 2014 17:33

Money World

UBA Closer to Unbanked with Freedom Savings Account

UBA Closer to Unbanked  with Freedom Savings  Account

With statistics showing 80 per cent of Nigerians  currently unbanked,  United  Bank of Africa UBA Plc  has therefore, unveiled a special product called Freedom Saving Account, with  the aim of targeting  category of people with  limited or no access to financial services in Nigeria.   Freedom savings account is a convenient saving plan which allows [...]

Aug 18, 2014 12:07

Economy

World Bank, DFID N44bn to Create 460,000 Jobs in Nigeria

World Bank, DFID N44bn to  Create 460,000 Jobs in Nigeria

Stories by Canice Opara   The N44 billion funding support from the World Bank and the UK Department for International Development (DFID) for Nigeria, is expected to generate 460,000 jobs across in the country.   The jobs, which will be created across eight sectors of the economy, will come under the Growth and Employment (GEM) [...]

Aug 18, 2014 17:48

Recent Articles

Ebola Threatens Nigeria’s GDP

Ebola Threatens Nigeria’s GDP

By stories  Niyi Jacobs   The world’s worst-ever outbreak of Ebola will inflict economic damage on Nigeria and other the West African countries as companies scale back operations., ,   Matt Robinso a senior credit officer at Moody’s Investors Service , noted in a report that  Commercial and transport disruptions that would probably last for [...]

Higher lending raises Standard Chartered profit

Higher lending  raises Standard  Chartered profit

Standard Chartered Kenya posted a 23.6 per cent rise in first-half pretax profit year on year thanks to higher net interest income, in line with rival banks that have also benefited from steady interest rates and economic growth.   Reuters reported that the bank, which is a unit of Standard Chartered Plc, said in a [...]

FRC Charges Ican on Foreign Investment

FRC Charges Ican on Foreign Investment

Financial Reporting Council has urged the Institute of Chartered Accountants of Nigeria to pay closer attention to foreign direct investments to ensure that the investments are more selective and strategic.   Meanwhile Ican as a profession is expected to ensure proper auditing of these foreign companies based on the International Financial Reporting Standard.   Mr. [...]

FBN, GTBank, Sterling Bank, Dwarf Others on Employee Value Addition

FBN, GTBank, Sterling Bank, Dwarf Others on Employee Value Addition

BONNY AMADI   A recent report on performances of banks in relation to their employees’ wages showed that three top banks, Guaranty Trust Bank, Sterling Bank and First Bank emerged the best performing banks in terms of staff value addition.   The findings revealed that some of the banks that reduced average salary per head [...]

Diamond Bank Charges SMEs Operators on ICT Growth

Diamond Bank Charges SMEs  Operators on ICT Growth

By Temitope Aluko   Diamond Bank Plc has encouraged SME Owners to leverage on many benefits of ICT to grow their businesses.  The bank gave the charges at the Diamond Bank Business Xpress Enterprise Seminar Series which was held in Lagos recently.   Mr. Abasiama Idaresit, CEO Wild Fusion while speaking at the event called [...]

Sovereign Trust to Raise N1.1bn through Right Issue

Sovereign Trust to Raise  N1.1bn through Right Issue

Tope Aluko   Sovereign Trust Insurance Plc has said it will raise additional capital of about N1.1 billion from existing shareholders through a right issue.   Segun Bankole, Head of Corporate Communications and Brands Management Department in a statement said the right issues is a necessary step towards accomplishing a five year strategic blueprint which [...]

Umaru Bags Civil Society’s Award

Umaru Bags Civil  Society’s Award

Alh. Umaru Ibrahim, Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC) had been conferred a certificate of commendation by a Coalition of Civil Society Organizations of Nigeria (Ccson) .   Comrade Bassey Williams Etuk, during award ceremony in Abuja, the President of the association, said the organization’s prestigious award was conferred on the [...]

Inflation to Rise from 8.2 to 8.3 %

Inflation to Rise from 8.2 to 8.3 %

Mr. Bismarck Rewane, Chief Executive Officer of research firm Financial Derivatives Company Limited, has said inflation may rise further from 8.2 per cent to 8.3 per cent.   Rewane while speaking at the Lagos Business School Executive Breakfast meeting, noted that money supply would increase in the second half of this year due to increase [...]

MasterCard Partners Corehead Finalist in Global Project

MasterCard Partners  Corehead Finalist  in Global Project

MasterCard, has collaborated with the Singapore Committee for the United Nations Women, which has given a boost to the development of entrepreneurship with the announcement of Corehead Business Solutions as one of the finalists in this year’s ‘Project inspire: ‘Five minutes to change the world.’   Corehead is a Nigerian enterprise that trains women on [...]

Nwankwo Commends Nigerian Companies Over Issue of $30bn Int’l Bonds

Nwankwo Commends Nigerian Companies Over Issue of $30bn Int’l Bonds

Stories by Niyi Jacobs   Dr. Abraham Nwankwo , director general of the Debt Management Office, DMO,  said that  Nigerian companies are now taking advantage of the window opened through the successful issuance of Nigerian Sovereign Eurobonds, in order  to raise long term funds, having issued a total of nine bonds to raise $30.4 billion [...]

‘CBN Puts Banks on Intense Capital Rise’

‘CBN Puts Banks on Intense Capital Rise’

The recent adjustment of the modalities for computing banks’ regulatory capital by the Central Bank of Nigeria (CBN) will bring about increased capital-raising for financial institutions.   Razia Khan, Managing Director/Head, Africa Research, Standard Chartered Bank, who stated this recently, pointed out that tier-2 debt issuance had already increased, with an increasing number of banks [...]

Feared Natural Gas Rally Short-Circuited by Cool Summer

Feared Natural Gas Rally Short-Circuited by Cool Summer

Rig hands thread together drilling pipe at a hydraulic fracturing site owned by EQT Corp., atop the Marcellus shale rock formation in Washington Township, Pennsylvania.   According to Bloomberg, rig hands thread together drilling pipe at a hydraulic fracturing site owned by EQT Corp., atop the Marcellus shale rock formation in Washington Township, Pennsylvania.   [...]