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BUSINESS NEWS BRIEF – OCTOBER 05, 2015

5
Oct

 

PUNCH

Subsidy on petrol falls to N576m daily
From a high of N51.61 per litre on June 11, 2015, subsidy on every litre of Premium Motor Spirit consumed in the country has dropped to N14.39, data obtained from the Petroleum Products Pricing Regulatory Agency on Sunday showed.[Read More…]

NCAA unveils ICAO safety policy for Nigeria
The Nigerian Civil Aviation Authority has unveiled the Nigeria’s State Safety Policy Statement.This policy statement was signed by the Director-General, NCAA, Capt. Muhtar Usman.[Read More…]

Metering: NERC fines Ikeja power firm N131.4m
The Ikeja Electricity Distribution Company has been fined N131.4m by the Nigerian Electricity Regulatory Commission for defying the regulator’s metering order.[Read More…]

THISDAY

Nigeria Breweries to raise $502 million to support growth
Nigerian Breweries Plc, the West African nation’s largest brewer, said it plans to sell 100 billion naira ($502 million) in debt to boost liquidity and support growth even as lower crude prices impact spending in the continent’s most populous country.[Read More…]

SEC Capital Huddle: 55 Market Operators Fail, 437 Scale Through
Four-hundred-and-thirty-seven Capital Market Operators (CMO) have met the new capital requirement set by the Securities and Exchange Commission (SEC) for operation, while 55 could not meet up with the requirement as at close of business on September 30 when the deadline for compliance elapsed.[Read More…]

BUSINESSDAY

Investors await Capital Oil restructuring
Capital Oil has recorded a loss of N131.61 million to end 2014 financial year, a result that has highlighted investors concern that the petroleum products marketing and gas firm needs to undergo an inevitable restructuring.[Read More…]

NEPC, AFEX partner to diversify economy through agro-industrial exports
Africa Exchange Holdings Ltd. (AFEX) has promised to work with the Nigerian Export Promotion Council (NEPC) to improve and formalise export of agro-industrial commodities to Republic of Niger, Chad and its environs.[Read More…]

VANGUARD

Nigeria, others attract $151bn FDI in 13 years
Foreign Direct Investments (FDI) into Nigeria and other African countries increased by $151.6 billion from 2000 to 2013.[Read More…]

September purchasing index signals recovery in manufacturing sector
The FBN Capital Purchasing Managers Index (PMI) rose by 2.6 points to 51.6 per cent for September signalling gradual recovery of business activities and confidence in the manufacturing sector.[Read More…]

Banks gain N740 billion from CRR reduction
The banking sector gained N740 billion as a result of the reduction of the Cash Reserve Ratio, CBN from 31 to 25 per cent by the Central Bank of Nigeria,[Read More…]

REUTERS

Despite ‘weak’ jobs report, Fed’s Rosengren still sees 2015 rate hike
Eric Rosengren still expects the Federal Reserve to raise interest rates this year despite what the head of the Boston Fed called a “weak” September jobs report, which could signal a more significant economic slowdown that delays the policy tightening..[Read More…]

BLOOMBERG

Saudi Aramco Cuts Crude Pricing to Asia, U.S. Amid Weak Demand
Saudi Arabia cut pricing for November oil sales to Asia and the U.S. as the world’s largest crude exporter seeks to keep its barrels competitive with rival suppliers amid sluggish demand.[Read More…]

China Weighs on Developing East Asia as World Bank Cuts Outlooks
Developing East Asian economies are feeling the weight of China’s growth slowdown, with the World Bank cutting the region’s growth forecasts through 2017[Read More…]

fake richard mille
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