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Dollar slips after political wrangling slows rally

A dollar rebound faltered on Tuesday as political wrangling over a United States relief plan and the gloomy outlook weighed on the currency.

Expert: Revival of ailing industries will strengthen currency

Mr Promise Amahah, an economic expert says revamping ailing industries and economic diversification in the country will help to strengthen the value of the Naira among world currencies.
Nigeria Naira

Nigerian bank cautions depositors on rising fraud cases

Access Bank Plc has called on customers to be vigilant of the common tricks used by fraudsters to rob them of their monies.
South African Rand coins are seen in this photo illustration. REUTERS-Mike Hutchings

South Africa’s rand steadies as investors seek fresh recovery signals

South Africa’s rand firmed slightly early on Tuesday, pausing after a five-session long steep slide as demand for U.S. dollars eased, and waited for new signals on the pace of a global economic recovery that has stalled in recent days.
Japan’s Nippon Steel Corp said on Tuesday it will appeal a South Korean court ruling that allows for a seizure of its assets.

Nippon Steel to appeal South Korea ruling allowing seizure of assets

Japan’s Nippon Steel Corp said on Tuesday it will appeal a South Korean court ruling that allows for a seizure of its assets.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices fall over rising coronavirus numbers

Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns.
An attorney representing families of passengers killed in a Boeing Co 737 MAX crash in Ethiopia said on Friday he will seek sworn evidence from a Boeing engineer who claims the company rejected a proposed safety upgrade to the 737 MAX because it was too costly.

US gives conditions for Boeing 737 MAX to fly again

US aviation regulators on Monday spelled out new requirements for the Boeing 737 MAX before the grounded jet is permitted to fly again.

Air Peace fires 70 pilots over pay cut dispute as coronavirus hits finances, operations

Nigeria’s largest indigenous airliner Air Peace has sacked 70 pilots after they refused to take a pay cut, insider sources said, following the devastating effect of the coronavirus pandemic on its operations and finances.

Nigerian Breweries earns N152 billion revenue in six months

Nigerian Breweries Plc says it earned a revenue of N152 billion for the half-year (H1) ended June 30, 2020.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE resumes trading for August with 0.30 per cent growth

The nation’s bourse commenced trading for August after Sallah break with a growth of 0.30 per cent on renewed bargain hunting.
Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

FIRS: Tax revenues boost our economy despite pandemic

Tax revenues generated by the Federal Inland Revenue Service (FIRS) have kept the Nigerian economy going despite the ravages of the COVID-19, Executive Chairman, FIRS, Mr. Muhammad Nami, has disclosed.
The Caixin-Markit manufacturing purchasing managers’ index (PMI), released on Monday, rose to 52.8 last month from 51.2 in June. Xinhua

China’s manufacturing sector shows strong recovery – survey

China’s manufacturing activity expanded in July at the fastest pace in almost a decade, according to a private survey released on Monday, though employment continued to drop in the wake of the coronavirus crisis.
South Africa grocery retailer, Shoprite, has announced that it is considering selling all or parts of its Nigerian operations to yet to be named investors.

Shoprite: We are not leaving Nigeria

Shoprite Nigeria has debunked the story making the rounds that it intends to close shop in Nigeria.
Shoppers leave the Shoprite store in Daveyton, South Africa May 23, 2018. REUTERS-Siphiwe Sibeko

Shehu Sani: Shoprite exit good for Nigerian supermarkets

The former representative of Kaduna Central Senatorial District, Senator Shehu Sani, has said the expected exit of Shoprite from Nigeria will be good for Nigerian-owned businesses.
Asian markets are mixed at the start of the trading week as investors weighed good economic news from China against the rising numbers of new coronavirus cases.

Asian markets begin week in mixed territory 

The Nikkei index in Tokyo finished Monday’s trading session with a 2.2% gain. Hong Kong’s Hang Seng index is down 0.7% in late afternoon trading, while Shanghai’s Composite index is up 1.4% after a private survey showed Chinese manufacturing activity rose in July.
Member Representing Ajaokuta Federal Constituency, Idirissu Lawal, has called on the Federal Government to take urgent step towards the conduct of a reliable population census in the country for effective planning.

Firm petitions House of Reps over unpaid N70 million, $30 million debts

An engineering company operating in the Oil and Gas sector under the aegis of DE COON Services Limited has petitioned the House of Representatives over several contracts scams and non-payment of the sums of over $30m and N70M owed it by Nigeria Agip Oil Company, NAOC.
South Africa grocery retailer, Shoprite, has announced that it is considering selling all or parts of its Nigerian operations to yet to be named investors.

Shoprite commences process of sale of operations in Nigeria

South Africa grocery retailer, Shoprite, has announced that it is considering selling all or parts of its Nigerian operations to yet to be named investors.
Shoppers leave the Shoprite store in Daveyton, South Africa May 23, 2018. REUTERS-Siphiwe Sibeko

Shoprite shares rise on higher sales, Nigeria divestment plan

Shares in South Africa’s Shoprite Holdings shot up over 11% on Monday after it reported higher total sales and said it was considering the sale of all of, or a majority stake in, its Nigerian subsidiary.

Recent Stories

The Federal University of Technology, Akure (FUTA) has renamed its Postgraduate Hall after Senator Joseph Waku, the late Pro-Chancellor and Chairman of the Governing Council of the institution, who died on February 3, 2019.

FUTA suspends student who ‘hacked’ Premium Times website

The Federal University of Technology, Akure, (FUTA) has suspended a student, Mr Afolabi Emmanuel, for allegedly hacking the website of Premium Times, an online news publication.
Inter CEO Giuseppe Marotta says that the club will announce on Thursday that a deal has been struck to sign Alexis Sanchez from Manchester United permanently.

Giuseppe Marotta: Inter set to announce Alexis Sanchez signing shortly

Inter CEO Giuseppe Marotta says that the club will announce on Thursday that a deal has been struck to sign Alexis Sanchez from Manchester United permanently.
Microsoft is now allowing Windows 10 users to run Android apps side by side with Windows applications on a PC. It’s part of a new feature in Your Phone, and it builds upon the mirroring that Microsoft’s Your Phone app already provides.

Microsoft integrates Android apps into Windows 10

Microsoft is now allowing Windows 10 users to run Android apps side by side with Windows applications on a PC. It’s part of a new feature in Your Phone, and it builds upon the mirroring that Microsoft’s Your Phone app already provides. You can now access a list of Android apps in Microsoft’s Your Phone app and launch these mobile apps accordingly. These will run in a separate window outside of the Your Phone app, mirrored from your phone.
Louis Saha has expressed his belief that Jadon Sancho would be a good fit for Manchester United, describing the Borussia Dortmund star as a deadly performer in the final third.

Borussia Dortmund deny Jadon Sancho transfer talks with Manchester United

Borussia Dortmund have denied holding any transfer talks with Manchester United over Jadon Sancho, casting further doubt on a move back to England for the star winger.
Benue State Governor Samuel Ortom

Benue governor denies leaving PDP

Benue State Governor Samuel Ortom has denied claims that he would decamp from the People’s Democratic Party (PDP) to All Progressives Congress (APC) or any other political party.