PUNCH
Lafarge Africa affiliate completes acquisition of UNICEM
Lafarge Africa Plc has increased its stake in the United Cement Company of Nigeria, information made available by the Nigerian Stock Exchange showed.[Read More…]
FMDA targets stronger commodity markets, risk management
The Financial Markets Dealers Association has restated its commitment to the development of Nigeria’s capital market and the economy as a whole.[Read More…]
BUSINESS DAY
Insurance firms show strength in half year
There is no fretting about the financial strength of insura nce companies in Nigeria, Africa’s largest economy as favourable combined ratios mean these firms are profitable without threats to going concerns.[Read More…]
Banks low valuations may signal new normal
Nigerian Banks, a majority of which are currently trading at a discount to book value may see such low valuations persist for a while, as analysts predict a new normal of stagnant earnings growth.[Read More…]
Shell commences production from Bonga Phase 3 project
Nigeria’s hope of increasing the volume of crude from offshore fields received a boost yesterday as Shell Nigeria Exploration and Production Company Ltd (SNEPCo) announced the start-up of production from the Bonga Phase 3 project.[Read More…]
New CSD, Big Cola competes for market share with N5b initial investment
AJE Group, a multinational beverage company with headquarters in Lima, Peru has started the production and distribution of Big Cola, a new carbonated soft drink in Nigeria with initial investment capital of over N5 billion.[Read More…]
VANGUARD
Capital base requirement: SEC urges investors to verify compliance of operators
Following the recent announcement by the Securities and Exchange Commission (SEC) of the level of compliance by Capital Market Operators (CMOs) to the new minimum capital requirement, the Market-wide Implementation Committee has called on the investing public to verify the compliance status of their preferred CMO before patronising them.[Read More…]
CBN policy: Massive job cuts looms in manufacturing sector
The federal government’s drive to create jobs for millions of unemployed Nigerians may suffer a huge set back following the Central Bank of Nigeria’s (CBN) recent directive excluding some essential raw materials from the list of items valid for forex in the Nigerian Foreign Exchange (forex) markets. According to business analysts, this move will in no time lead to the lay-off of over 40, 000 Nigerians who work in the manufacturing sector.[Read More…]
Africa’s economic growth will slow to 3.7% in 2015 — World Bank
The World Bank yesterday said that the growth of economic activities in Africa will drop to 3.7 percent this year from 4.6 percent in 2014 due to a more challenging economic environment.[Read More…]
REUTERS
Asian shares rise on fading Fed rate views
Fading expectations that the U.S. Federal Reserve will raise interest rates this year and a bounce in oil prices helped lift Asian stocks to two-week highs on Tuesday.[Read More…]
BLOOMBERG
Goldman Says Fed May Hold Rate Well Into 2016 as Treasuries Gain
Goldman Sachs Group Inc. says there’s a chance the Federal Reserve will delay its planned interest-rate increase well into 2016, or even later.[Read More…]