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BUSINESS NEWS BRIEF – August 28th,2015

28
Aug

VANGUARD

Buhari approves 65 licences for private refineries
President Muhammadu Buhari has granted licences to 65 Nigerian companies to construct modular refineries..[Read More…]

DAILY TRUST

Low oil price: Nigeria’s revenue drops by N2.2tr in 6 months
The value of Nigeria’s export of crude oil dropped by N2.2 trillion in the first half of 2015, a comparison of data released by the National Bureau of Statistics (NBS) has shown..[Read More…]

Dangote commissions $250m Cameroon cement plant
Dangote Cement yesterday commissioned its 1.5 million metric tonnes Cement plant worth $250 million (N50billion)..[Read More…]

Dangote unveils Cameroon cement plant today
Dangote Cement Plc is set to commission its new plant in Cameroon with a total capacity of 1.5mmtpa, today (Thursday)..[Read More…]

THISDAY

Interest in Blue Chip Stocks Lifts Equities Market
Investors in the Nigerian equities market hived a sigh of relief on Thursday as the market returned to positive territory buoyed by interest in blue chip stocks..[Read More…]

Stakeholders Seek Ways to Better the Maritime Industry
In a bid to ensure that Nigerians derive maximum benefits from the huge potential in the maritime industry, stakeholders have pointed the way forward..[Read More…]

CBN, IFC Seek Improved Credit System
The Central Bank of Nigeria (CBN) and the International Finance Corporation (IFC), a member of the World Bank Group, have said that the current difficulties being faced by the country’s micro, small and medium enterprises (MSMEs) in accessing funds to develop their business will be greatly reduced by the strengthened credit reporting system and the launch of a national collateral registry (NCR) for moveable assets before the end of the year..[Read More…]

Fidelity Emerges Best Bank to Work in Nigeria
Fidelity Bank Plc has been adjudged as the best bank to work for in Nigeria. In a recent study conducted by Venture Africa, an online platform for news and analysis about African businesses, in conjunction with Jobberman.com, Fidelity Bank was the only bank among the top 12 most preferred places to work in Nigeria..[Read More…]

PenCom Issues Guidelines on RSA Withdrawals for Residential Mortgages
The National Pension Commission (PenCom) has issued draft guidelines on withdrawals from Retirement Saving Accounts (RSA) for equity payment of residential mortgage..[Read More…]

FG Ban 57 Universities, Sanctions Others
In its drive to rid the country of illegal universities, the National Universities Commission (NUC) has released a list of 57 illegal degree awarding institutions operating in Nigeria and other campuses in the country..[Read More…]

Customs Impounds 159 Consignments, Rakes in N167bn in Six Months
No fewer than 159 consignments were detained by the Nigeria Customs Service (NCS), Apapa Area Command between January and July this year, according to data obtained by THISDAY..[Read More…]

PUNCH

NNPC slashes crude buyers from 43 to 16
the Nigerian National Petroleum Corporation on Thursday said it had reduced the number of crude oil off-takers for the proposed 2015/2016 term contract from 43 to 16..[Read More…]

CBN’s forex ban’ll boost naira stability –Expert
The decision of the Central Bank of Nigeria to deny importers of 41 items access to the nation’s foreign exchange markets through Deposit Money Banks is paying off and is in the right direction, a financial expert has said..[Read More…]

Shell declares force majeure on Bonny Light exports
Barely a week after it resumed gas supplies to the Nigeria LNG Limited from the Eastern Gas Gathering System, Shell Petroleum Development Company has declared force majeure on Bonny Light crude oil exports..[Read More…]

Heritage Bank, EDC partner to support SMEs growth
Heritage Bank Limited and the Entrepreneurship Development Center of the Pan-African University have partnered to bring together top chief executive officers to discuss emerging horizons for Small and Medium Enterprises in the country..[Read More…]

We’ve committed $2.2m to Second Niger Bridge –NSIA
The Nigerian Sovereign Investment Authority has put its total commitment to the construction of the Second Niger Bridge at $2.21m (N435.4m)..[Read More…]

THE NATION

Dangote inaugurates $250m plant in Cameroon
Dangote Cement Plc, yesterday, achieved another feat with the inauguration of $250 million (N48.75 billion) cement grinding plant in Douala, Cameroon..[Read More…]

REUTERS

Oil prices extend gains after biggest daily climb in six years
Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies..[Read More…]

European shares recoup week’s losses as U.S. cheers markets
European shares rose on Thursday, recouping all their losses this week, with gains across the board after market expectations of a U.S. rate hike were pushed back and as economic growth figures were revised sharply upwards..[Read More…]

BLOOMBERG

Commodities Rise as China Stocks Cap Two-Day Gain; Bonds Steady
Commodities climbed as China’s support for its beleaguered equity market and a strong U.S. growth number bolstered investors’ appetite for riskier assets. Treasuries and German bunds held losses as central bankers meet in Jackson Hole, Wyoming..[Read More…]

MARKET WATCH

China stocks surge amid suspected government buying
China’s shares surged Friday amid suspected government buying, but the week’s volatile trading still puts the index down nearly 8% in that time..[Read More…]

fake richard mille
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