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Daily Business News Brief – April 26th, 2024

Home   /   Business News Brief   /   Daily Business News Brief – April 26th, 2024
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April 26, 2024
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in Business News Brief
Equity market reverses downtrend as investors gain N26bn – Punch
After days of sustained bearish trading, the Nigerian exchange recorded a 0.05 per cent increase in the All-Share Index as investors gained N26bn.
The local bourse has been on a bearish run for days, which has seen the major indexes fall below milestones surpassed earlier in the year, due to sell-offs and waning interests…………………………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Banks’ YTD poor returns unsettle operators
.Stockbrokers blame unfriendly policies, uptick in fixed market yield – Guardian
With the 33 per cent Year-To-Date rise in the All-Share index, operators have
bemoaned the negative 12 per cent return on investment recorded by the banking
sector, ranking it as the worst performing on the nation’s bourse presently……………………………………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Dangote Cement’s Profit Up 13% to N166.4bn in Q1 2024 – Thisday
Dangote Cement Plc, yesterday announced its unaudited first quarter (Q1) ended March 31, 2024 with N166.4 billion profit before tax, an increase of 13.3 per cent from N146.8 billion profit before tax declared in (Q1) first quarter of 2023. 
The Cement maker on the Nigerian Exchange Limited (NGX) announced N112.67 billion profit after tax in Q1 2024, representing an increase of nearly three per cent when compared to N109.5 billion in Q1 2023.. .. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
International Breweries Offers Rights Issue, Pledges Commitment to Nigeria – Thisday
International Breweries Plc, a member of ABInBev, the world’s largest brewer has reiterated its commitment to long-term investment in Nigeria.
This came on the heels of the completion of the company’s Extraordinary General Meeting (EGM) held in Lagos…. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Stanbic IBTC seeks improved investment in energy – Punch
Stanbic IBTC Holdings has canvassed for improved investment in energy and infrastructure in the country to boost economic activities.
The Chief Executive Officer of the group, Dr Demola Sogunle, stated this at the recently held Stanbic IBTC Energy and Infrastructure Breakfast session in Lagos.., . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
International Breweries plans debt reduction to boost profitability – Punch
International Breweries has stated that it would be able to return to profitability on the back of its rights issue as well as the shareholder loan approved at its recently held extraordinary general meeting.
In a recent statement from the beverage company and member of ABInBev, the world’s largest brewer noted that steps were taken to reiterate its commitment to long-term investment in Nigeria… , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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