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BUSINESS NEWS BRIEF – Friday, March 11, 2016

11
Mar

 

THE GUARDIAN

NNPC workers suspend strike
It was with huge relief that Nigerians yesterday received news that the strike embarked upon by the Nigerian National Petroleum Corporation (NNPC) workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has been suspended.[Read More…]

PUNCH

Budget padding: FG moves 22 senior officers
There were strong indications on Thursday that the Federal Government had started the restructuring of the civil service.The PUNCH gathered that as part of the restructuring, 22 seniors officers had been posted out of the Ministry of Budget and Planning.[Read More…]

BoI to train 1,200 youths in business management
The Bank of Industry is set to train 1,200 young entrepreneurs nationwide in business and management skills.According to the Acting Managing Director, BoI, Mr. Waheed Olagunju, the training, tagged, “Youth Entrepreneurship Support Programme”, is another initiative of the development bank that is designed to address youth unemployment in Nigeria.[Read More…]

CBN to borrow N1.07tn via treasury bills in Q2
The Central Bank of Nigeria is planning to borrow N1.07tn via treasury bills issuance in the second quarter of 2016.The CBN said it would auction N303.77bn worth of 91-day bills, N169.98bn worth of 182-day paper and N599.63bn of one-year paper between March 17 and June 2.[Read More…]

THISDAY

Wapic Insurance Grows Profit After Tax by 448% to N1.3 Billion
Wapic Insurance Plc on Thursday reported a profit after tax of N1.297 billion for the year ended December 31, 2015. The performance showed an increase of 448 per cent as against N236 million posted in the 2014.[Read More…]

Concessionaire Invests $8.1bn in Seaport Facilities in 10 Years
One of the concessionaires in the nation’s seaports, Integrated Logistics Services Limited (INTELS) has made $8.1 billion investment in the nation’s seaports. The concessionaire, which is the terminal operator in Onne, Rivers Statel; Warri, Delta State and Calabar, Cross River State, took over the day-to-day running of ports following the conclusion of the concession programme during Chief Olusegun Obasanjo’s administration.[Read More…]

LEADERSHIP

IHS To Acquire Rival, Helios Towers Nigeria
Pan-African mobile telecoms infrastructure group, IHS, has agreed to buy Nigerian rival, Helios Towers Nigeria (HTN), acquiring the entire issued share capital for an undisclosed sum, the company said in a statement yesterday.[Read More…]

DAILY TRUST

MTN proposes N300bn for NCC fine
Mobile Telecommunication Network (MTN) has proposed to pay the federal government N300 billion for the fine slammed on it by the Nigeria Communication Commission (NCC),  a document sent to the Senate revealed yesterday.[Read More…]

REUTERS

Asian shares erase losses, on track for weekly gain
Asian shares rose on Friday, on track for weekly gains, shrugging off global losses logged after the European Central Bank eased aggressively but suggested it was running out of room to cut interest rates even if other stimulus options remained.[Read More…]

BLOOMBERG

Yuan Erases 2016 Drop as PBOC Raises Fixing Most in Four Months
The onshore yuan erased its decline for the year after China’s central bank raised its daily reference rate by the most in four months.[Read More…]

 

fake richard mille
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