Business

By Friday Ekeoba The Lagos Chamber of Commerce and Industry (LCCI) and the Delegation of German Industry and Commerce in Nigeria (DGIC) have signed a Memorandum of Understanding (MOU) to boost trade, investment and knowledge transfer between Germany and Nigeria. The official signing, which took place at the German Consulate in Lagos recently, provided the platform for support to Nigerian …

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FRIDAY EKEOBA The downturn in the domestic economy activities might have started to take its toll on the manufacturing sector as Flour Mills in its fourth quarter result announcement According to FBN Research, there is the likelihood that the flour going concern will review downward its consensus forecast profit-before-tax for 2017. In a filling to the Nigerian Stock Exchange during …

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FRIDAY EKEOBA Barring any monumental change in the domestic economy, the Minister of Finance, Mrs Kemi Adeosun,Thursday assured Nigerians that the nation would only face a short recession if the nation’s economy contracts again in the second quarter as the removal of fuel subsidies and policies to lower dependency on oil will pay off. It would be recalled that the International Monetary Fund (IMF) …

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FRIDAY EKEOBA Following the daunting challenges in the domestic economy, WEMA Bank Plc on Thursday posted a 16 per cent rise in its gross earnings unaudited financial result for the six month ended June 30th 2016. According to its filling to the Nigerian Stock Exchange (NSE) for verification, the bank’s gross earnings rose to N24.3billion in 2016 compared to N20.9 billion …

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FRIDAY EKEOBA The Executive Secretary, Nigerian Extractive Industries Transparency Initiative (NEITI), Mr Waziri Adio, said recently that there was no reason for Nigeria to have 110 million people living in poverty. The numbers which constitute 64.7 per cent of the country’s 170 million population, according to the NEITI boss do not have business suffering considering the domestic economy income from …

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Zenith Bank Plc has been named as Nigeria’s most customer-focused bank by KPMG the leading advisory and consultancy firm. KPMG in its 2016 edition of the annual banking industry Customer Satisfaction Survey recently released, Zenith topped other Nigerian banks in the Customer Satisfaction Index (CSI) with a total of 74.6 points to clinch the first position in the retail banking category. By this, the …

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FRIDAY EKEOBA Lafarge Africa Plc, one of the leadingcement manufacturer in the domestic economy has posted a material loss of N28.0billion in its second quarter financial result for the year end June 2016, even as it attributed the dip to foreign exchange losses that impacted negatively on its operations to the tune of N27.5billion. In a filling to the Nigerian StockExchange on Wednesday for verification, …

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The International Monetary Fund lowered its world growth estimates for 2016 and 2017 on Tuesday, citing the negative impact of Britain’s vote to quit the European Union. Here are the IMF’s new forecasts for percent growth of gross domestic product, with the change in percentage points from April in parentheses. Country/region 2016 2017 World 3.1 (-0.1) 3.4 (-0.1) Advanced economies …

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The Karlsruhe Sustainable Finance Awards are the prestigious awards of the European Organisation for Sustainable Development (EOSD) in conjunction with the Government of Karlsruhe (the official “Most Sustainable City” in Germany). The awards, which can be referred to as the Oscars of Sustainability, honours financial institutions and organisations with significant contributions to the field of sustainable finance. The awards aim …

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The Securities and Exchange Commission (SEC) has expressed its determination to raise the participation of retail investors in the Nigerian Capital market as that is one of the critical ways of deepening the market. Director General of SEC, Mounir Gwarzo stated this when the Management of the Commission visited the Federal Radio Corporation of Nigeria (FRCN) on an advocacy visit on the 10 year Capital Market …

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