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Daily Business News Brief – October 27th, 2023

27
Oct

MTNN, others drag Index further by 0.2% – Guardian
Losses recorded by many blue-chip stocks, especially MTN Nigeria Communications (MTNN) Plc and 28 stocks, ensured that the Nigerian Exchange Limited (NGX) extended negative sentiments yesterday, as the All-Share Index (ASI) depreciated further by 0.2 per cent.
Yesterday, ASI lost 121.21 points, representing a decline of 0.2 per cent to close at 67,084.95 points……….. .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Stakeholders challenge capital markets operators on infrastructure funding – Punch
The World Bank has said that Nigeria needs about $3tn to close its infrastructure deficit with funding requirements estimated at between $100 and $150bn per annum for at least the next 10 years.
During his keynote address at the annual banking and finance conference in Abuja in September, World Bank Country Director for Nigeria, Mr Shubham Chaudhuri, lamented that public spending in the country is among the lowest globally. …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Investment in power, hospitality, energy lifts Transcorp Q3 revenue to N128b – Guardian
Amid harsh operating environment, Transnational Corporation Plc (Transcorp Group), has posted a revenue of N128 billion in its third quarter (Q3) operations 2023, against N96.2 billion recorded in the corresponding period in 2022.
Specifically, the group’s unaudited result for the period ended September 30, 2023 showed 33 per cent rise in revenue to N128 billion, compared to N96.2 billion posted in 2022,………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Fidelity Bank signs $40m cocoa export deal – Dailytrust
Fidelity Bank has signed a $40million deal with AFREXIM Bank and JohnVents Industries for cocoa export.
The signing of the $40million pre-export finance facility in favour of JohnVents Industries was one of the highlights of the second edition of the Fidelity International Trade and Creative Connect (FITCC) in Houston, Texas, United States of America.,………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Lafarge Africa Green Mobility Deal Would Be Sustained With Electric Vehicle Truck In Supply Chain Fleet – Independent
Lafarge Africa Plc, one of Lead­ing Innovative and Sustainable Building Solutions Company, has started a significant mile­stone in its sustainability journey with the recent launch of an Electric Vehicle (EV) truck into its supply chain fleet.
This significant milestone which is in partnership with Tolaram, marks the first-of-its-kind in Africa, under­scoring Lafarge Africa’s unwavering commitment to sustainable practices and innovative solutions for a greener future.
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