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Daily Business News Brief – August 29th, 2023

29
Aug

BUA Foods, SFS Real Estate, others lift index by N324 billion – Guardian
Following gains recorded by many blue-chip stocks, especially BUA Foods and SFS Real Estate, transactions on the Nigerian Exchange Limited (NGX) reopened upbeat, yesterday, as market capitalisation appreciated by N324 billion.
The all-share index (ASI) rose by 592.47 points, representing a gain of 0.9 per cent to close at 66,151.38 points.
Also, market capitalisation appreciated by N324 billion to close at N36.205 trillion. …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Economy to grow by 2.65% in 2O23, says KPMG – The Nation
KPMG has adjusted its growth forecast for the contry’s economy to 2.65 per cent in the year.
The professional services firm, in a report entitled: ‘Underwhelming Q2 2023 GDP Growth Recorded’, said the revision was premised on various considerations.
KPMG listed the factors to include the recent contraction in oil production, muted government investment in the economy, the impact of subsidy removal and foreign exchange (forex) rates unification on households…. …….., . … …………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Registrars indicted over unclaimed dividends as figure rises by 94% in 24 years – Guardian
Shareholders have lamented the rising unclaimed dividends in the capital market currently put at N190 billion, stating that unless the parties involved in the processing of the claims adopt robust technology infrastructure that would enable investors to process their unclaimed dividend at the comfort of their homes, the menace may not be eliminated in the capital market…….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Dangote defends cement price amid criticism – Punch
Dangote Cement Plc has said that its cement price is in line with or lower than prices across the West African coast.
The company also said that the price of a bag of cement from its factories across Nigeria had not increased, contrary to viral reports across various media.
There had been widespread criticism directed at the company over the disparity of the price of its cement in Nigeria, compared to other West African countries…. …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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