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BUSINESS NEWS BRIEF – OCTOBER 29, 2015

29
Oct

 

THISDAY

MTN to Review Nigerian Management After N1.04tn Fine
MTN Group Limited is reviewing its senior management in Nigeria after Africa’s largest phone company was fined N1.04 trillion ($5.2 billion) by the country’s telecommunications regulator for failing to disconnect customers with unregistered SIM cards, according to a person familiar with the matter.[Read More…]

FG Targets 90m Nigerians with New National e-Health Framework by 2020
As part of government’s efforts towards a Universal Health Coverage (UHC) for all by 2020, the Federal Ministries of Health and Communication Technology, on Monday commenced the process of meeting the health needs of 90 million Nigerians, using a new national electronic-health framework.[Read More…]

THE NATION

Nigeria, Ghana back $185m gas pipeline debt settlement
The Nigerian and Ghanaian governments have supported amicable resolution of the $185 million owed the West African Gas Pipeline Company (WAPCo) and gas suppliers by the Volta River Authority’s (VRA) of Ghana.[Read More…]

Economic policies may hurt ‘in short term’, says Buhari
President Muhammadu Buhari yesterday reviewed his administration’s economic policies, warning that they may be hurtful “in the short run”.[Read More…]

DAILY SUN

Stanbic IBTC: Shareholders fault FRC on sanction
FOLLOWING the suspen­sion of the Managing Direc­tor and Chairman of Stanbic IBTC, some shareholders of the bank, under the aegis of Progressive Sharehold­ers Association of Nigeria (PSAN), have called on regulators of the market, including the Financial Re­porting Council of Nigeria (FRC), to be cautious in their utterances so as not to further erode value in the market.[Read More…]

LEADERSHIP

Dangote Set To Unveil World’s Largest Single Refinery
Following the speed at which contractors are delivering on their mandate, management of Dangote Petrochemical Company has said the refinery would commence commercial operations at the beginning of 2018.[Read More…]

NNPC Increases Fuel Supply To Avert Scarcity
The Nigerian National Petroleum Corporation, (NNPC) yesterday announced that it has taken practical steps to eliminate the noticeable fuel queues in some major cities in the northern axis caused by speculation of an impending fuel scarcity.[Read More…]

REUTERS

Asia stocks slip, dollar strong as Fed opens door to Dec hike
Asian shares fell and the dollar stood tall on Thursday, after the U.S. Federal Reserve revived market expectations that it may yet raise interest rates by year-end.[Read More…]

China premier suggests China needs minimum economic growth of 6.5 percent next five years: Bloomberg
China’s Premier Li Keqiang said China requires annual growth of at least 6.53 percent over the next five years, Bloomberg reported, citing unidentified sources.[Read More…]

BLOOMBERG

Shell Makes Biggest Net Loss in at Least a Decade on Price Slump
Royal Dutch Shell Plc reported its biggest net loss in at least a decade as it wrote down the value of assets and lowered its oil-price expectations.[Read More…]

fake richard mille
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