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Daily Business News Brief – March 18th, 2024

18
Mar

Bargain hunting drives equity market to N2tn gain – Punch
The activities of investors positioning themselves ahead of the dividend-paying season led to another positive week as the Nigerian Exchange gained N2.12tn in the past week.
The All-Share Index appreciated by 3.71 per cent week-on-week, reaching 105,085.25 index points.
In tune with the movement of the ASI, the total market capitalisation of listed equities rose by 3.71 per cent to close the week at N59.42tn, indicating a 45.21 per cent year-to-date returns for investors……………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Rising inflation tests CBN’s MPR transmission belt  – Guardian
As inflation spiked to a fresh height last month, curbing the unpleasant situation is undoubtedly one of the major tasks that will be confronting the Central Bank of Nigeria’s (CBN) Monetary Policy Committee as it meets next week
On Friday, figures released by the Nigeria Bureau of Statistics (NBS), revealed that the cost of food is a major driver of inflation in the country……………………………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
BUA Cement: Profit Slumps Amid N69.96bn Foreign Exchange Loss – Thisday
BUA Cement Plc announced N67.23 billion profit before tax in 2023 financial year, a decline of 44per cent from N120.15 billion reported in 2022, attributable to N69.96 billion foreign exchange loss in 2023 audited result and accounts from N5.5 billion reported in 2022.
The cement producing company also declared a profit after tax of N69.45 billion in 2023 from N101.01 billion in 2022, on the backdrop of N2.23 billion income and deferred tax credit posted in 2023 from N19.14 billion tax expenses reported in 2022.. ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Notore appoints chairman after three years – Punch
Notore Chemical Industries has announced the appointment of Femi Agbaje as the new chairman of its board of directors.
The appointment comes more than three years after former Nigerian Head of State, Yakubu Gowon, retired from the company’s board on January 28, 2021.
According to a statement filed with the Nigerian Exchange Limited, the Group Chief Legal Officer/Company Secretary, Otivbo Saleh, said that the appointment will be until the completion……….. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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