+234 (1) 453 9639 | 0802 701 2454 | customerservice@globalviewng.com

Daily Business News Brief  Tuesday November 16th, 2021.


Large-cap stocks drag market lower, investors lose N11.83bn – Punch

The Nigerian equities market started the week on a negative note as declines in some large-cap stocks saw the market closing lower by N11.83bn at the end of trading.  The Nigerian Exchange Limited’s All-Share Index fell by 0.05 per cent to close at N22.56tn from N22.57tn on Friday, while the market capitalisation dropped to 43230.34 basis points from 42,253.01bps.  Investor activity on the floor of the NGX on Monday was negative as trading volume and value dipped by 6.8 per cent and 7.75 per cent, respectively.  A total of 293.43 million shares valued at N4.29bn were traded in 4,329 deals, compared to 314.85 million units worth N4.65bn in 3,400 deals on Friday……………….read more

NUPENG threatens nationwide strike, fuel scarcity looms – Thisday

Nigeria may experience fuel scarcity in the coming days following the threat issued on Monday by the Nigerian Union of Petroleum and Natural Gas.  NUPENG has given the Federal Government a two-week strike notice, raising the possibility of fuel scarcity across the country in the coming weeks.  NUPENG members basically control the downstream arm of the oil sector and an industrial action by the union would ground the supply and distribution of petrol nationwide.  Citing the need to attend to oil workers’ welfare, NUPENG said it would begin the proposed strike at the expiration of the notice.  The development came via a statement signed by NUPENG President, Williams Akhoreha, and General Secretary, Olawale Afolabi…………………read more

Four banks borrow $6.21bn from foreign market amid dollar shortage – Thisday

In a bid to support their balance sheets with foreign exchange, four banks in the country raised $6.21bn from foreign creditors between January and October 2021.  An analysis of reports shared on the issuer’s portal of the Nigerian Exchange Limited revealed that Access Bank Plc, Ecobank Transnational Incorporated, Fidelity Bank Plc and the United Bank for Africa Plc sought dollar liquidity through secure and unsecured notes, three of which listed their notes on the London Stock Exchange.  On February 11, Ecobank notified the NGX of successful pricing of its $300m fixed-rate, dollar-denominated bond, carrying a coupon rate of 7.125 per cent. It said the issuance was oversubscribed three times, with about $900m raised………….read more

Inflation rate declines again despite rising prices  – Daily Independent

Shareholders of Conoil Plc have approved a total dividend payment of N1.04bn, translating to 150 kobo for every 50 kobo share. The dividend was approved during the 51st annual general meeting of the company, according to a statement on Friday.The company promised at the AGM to explore opportunities in the coming years to deliver solid financial results and increase competitive returns on its shares.  It assured its shareholders that conscious efforts would be directed at achieving better execution of value-added products and services, especially in the areas of marketing and customer management……………….read more

After Months of Improvement, Nigeria’s Oil Rig Count Declines in October -Punch

After months of relative growth, Nigeria’s oil rig count fell from 11 in September to nine in October 2021, according to data released by the Organisation of Petroleum Exporting Countries (OPEC) in its November Monthly Oil Market Report (MOMR).  The reduction of the country’s oil assets by two is in contrast to a number of other countries that have their facilities increase markedly, including Algeria’s, which climbed by three, Congo’s which rose by one, Saudi Arabia’s which increased by seven and United Arab Emirates which added four oil rigs………….read more

fake richard mille
There are not many functions of richard mille replica, except for the basic time display, there is only a very powerful tourbillon function. Its time display function has only two hands, hour and minute hands. Although it cannot display the time accurately to the second, it has a good effect on the overall style of the watch. The diameter of the tourbillon is 10.90 mm, and its position is just in the mouth of the skull. It can be said that the position is very classic. When the watch is working, the tourbillon is spinning fast in the skull's mouth, faintly visible through the gaps of the cage-shaped teeth made of rose gold, giving people not only a mechanical beauty but also an indescribable feeling. It can be said that it is a kind of awe of death, or it is a shock of immortal imagery. In short, let go of your thinking, on this fast-moving tourbillon, your thoughts have no end. This watch also uses a back-through design. The movement of the movement and the operation of the tourbillon can also be seen through the back of the watch. This watch is also known as a fine product in terms of machinery.
The latest and best quality materials in today's watch field are used in conjunction with precious metals to make it surrounded by a luxurious and noble aura when it is born. The detailed processing of each screw and each plane is a manifestation of its high quality. It perfectly combines the unconventional skull design with the tourbillon technology that Richard Mille is famous for. It gives people visual enjoyment and brings us thinking about the ultimate problem of life, which is evocative. endless. Coupled with a movement that has applied many advanced technologies to show the beauty of machinery in front of people, its performance is beyond doubt!