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Daily Business News Brief – November 22nd, 2023

22
Nov

Stock market fails to stay on loss path – Businessday
Nigeria’s equities market failed to sustain previous day’s loss after rising by 0.08 percent or N32billion at the close of trading Tuesday.Insurance, banking and industrial stocks helped market to reroute north after the negative take off this week.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its market capitalisation increased ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

NGX Partners ISDBI to Deepen Islamic Finance in Nigeria – Thisday
In a bid to further deepen the capital market in Nigeria through the issuance of Islamic Finance instruments, Nigerian Exchange Limited (NGX) and Islamic Development Bank Institute (IsDBI) collaborated on a capacity-building workshop for Issuers and Investors.
The workshop, held in Lagos yesterday aimed to educate stakeholders on contemporary issues and practices of Islamic finance in different……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Caverton can become Africa’s aircraft maintenance hub – Defence minister – Punch
The Minister of Defence, Mohammed Badaru Abubakar, has commended Caverton Helicopters management for bringing the state-of-the-art facility to the country, saying it can become Africa’s aircraft maintenance hub.
The Minister made this commendation during the facility tour of Caverton Helicopters’ Maintenance, Repair, and Overhaul situated inside the expansive premises……….. …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Despite Poor Penetration, 13 Insurance Companies Declare N57.1bn PBT – Thisday
Amid weak insurance penetration in Nigeria and challenging business environment, a total of 13 leading insurance companies in the country declared N57.1billion profit before tax in nine months ended September 30, 2023.
This represents a 165 per cent increase over N21.51billion reported in nine months ended September 2022… …………… …. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

ROCE: Lafarge Africa Rebrands, Gets More Proficient At Improved Generating Returns – Independent
Lafarge Africa Plc, producer of the building materials in Africa’s most populous nation is a company with a great business model and plenty of profitable reinvestment opportunities as Return On Capital Employed (ROCE), has improved. 
The Company’s ROCE increased to 15 percent in the first nine months of 2023, from 12.49 percent as at September 2022……………………. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Royal Exchange assures shareholders of improved performance – Guardian
Underwriting firm, Royal Exchange Plc, has assured its shareholders of stronger performance and increased returns on investment despite environmental challenges last year.
The underwriter gave the assurance at its 54th yearly general meeting theme: ‘Overcoming Challenges, Generating Growth’ held in Lagos at the weekend…………………….. …………..,…………….. ….:,….. 
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