PUNCH
N1.04tn fine: Jo’burg Exchange suspends MTN shares • Presidency, NCC may reduce fine
South Africa’s bourse briefly suspended trading in the shares of the MTN Group on Monday, after the stock fell as much as eight per cent as Africa’s largest mobile telecoms operator battles to reduce a $5.2bn (N1.04tn) fine it faces in Nigeria. [Read More…]
CBN to raise N123bn via treasury bills
The Central Bank of Nigeria is to raise N122.95bn ($617.90m) via treasury bills with tenors ranging from three months to one year on Wednesday, documents from the bank have revealed. [Read More…]
THISDAY
NNPC: New Lifting Terms Will Abolish Hawking of Crude Oil
The Nigerian National Petroleum Corporation (NNPC) has said that the new measures it put in place to select new off-takers of Nigeria’s crude oil grades will eliminate ‘hawking’ of Nigeria’s crude oil at the international markets. [Read More…]
Fitch: No Change in Standard Bank’s Support for Stanbic IBTC over FRCN Sanction
Fitch Ratings believes that the recent alleged irregularities raised by the Financial Reporting Council (FRC) into Stanbic IBTC Holdings Plc’s financial reporting for 2013 and 2014, have not affected the propensity of its South African majority shareholder – Standard Bank Group Limited (SBG), to its subsidiary if required. [Read More…]
DAILY SUN
N29bn debt threatens Egbin power plant
Two years after it took over the assets of the unbundled Power Holding Company of Nigeria (PHCN), the new owners of Egbin Power Plc have said that its operations is being threatened by about N29 billion debt. [Read More…]
Non-oil export revenue plunges to $391m
The Nigeria Export Promotion Council (NEPC) has painted a gloomy picture of the revenue accruable from the non-oil sector, with the earning dropping from $652 million to $391 million within the last four months of 2015. [Read More…]
GUARDIAN
NNPC records N336.83b deficit, as subsidy, crude theft increase
BESIDE recording operational loss of N120 billion in August and September, the Nigerian National Petroleum Corporation (NNPC) suffered a N336.83 billion deficit in September in its domestic operations. [Read More…]
VANGUARD
Non-oil export earnings drop by N52.2bn in Q2
THE Nigerian Export Promotion Council has said that the country’s earnings from non-oil exports dropped by N52.2billion ($261million) in the second quarter of this year. [Read More…]
REUTERS
Asia shares aim to break losing streak
Asian share markets crept ahead on Tuesday after the benchmark for U.S tech stocks hit its highest in 15 years, while a holiday in Japan kept currencies tethered within recent tight ranges. [Read More…]
BLOOMBERG
Quick Yuan Slide After IMF Is Conspiracy Theory, JPMorgan Says
China’s central bank will keep the yuan stable even after the International Monetary Fund decides on whether to include it in its basket of reserve currencies, according to JPMorgan Chase & Co. [Read More…]