The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to settle all debts allegedly owed oil marketers to avert mass sack of workers in the sector. The union also believed that the payment would engender growth of not only the downstream sector but all sectors of the […]
Union Bank has announced that the subscription period for its N50 billion Rights Issue will commence on Wednesday, September 20 and close on Monday, October 30, 2017. The bank plans to offer 12.1 billion ordinary shares of 50 kobo each, which will be available at N4.10 per share, on the basis of five new shares […]
China’s Tencent Holdings and Guangzhou Automobile Group Company Ltd have agreed to collaborate on internet-connected cars – a strategic pact that sent shares in Guangzhou Auto surging. The development of self-driving cars and fast-changing technology have set in motion a flurry of alliances between internet giants and automakers. Earlier this year, Tencent bought 5 percent […]
U.S. defense contractor Northrop Grumman Corp (NOC.N) said on Monday it would buy Orbital ATK Inc (OA.N) for about $7.8 billion in a deal that gives it greater access to lucrative government contracts and expands its arsenal of missile defense systems and space rockets. The all-cash transaction is the biggest in the defense sector in […]
Social media site, Twitter has added Sriram Krishnan to its product team. is Krishnan will occupy the post of senior director of product of the platform. He announced the news himself, appropriately on Twitter, with a hearty endorsement from CEO Jack Dorsey. He will be reporting to Keith Coleman, who is Twitter’s new-ish VP of […]
About two thousand mega watts of electricity generated into the national grid were unable to be accessed by consumers. Louis Edozien, Permanent Secretary, Federal Ministry of Power, Works and Housing blamed it on inadequate distribution channel. “The national grid produces about 6,600 mega-watts of electricity from the 750,33KV trading points, but less than 4,600 mega-watts […]
Chinese brokerage First Capital Securities Co Ltd (002797.SZ) denied on Sunday that a unit of e-commerce firm JD.com (JD.O) was in talks to purchase a 24 percent stake. Reuters reported on Friday that JD Finance was in talks to buy the stake worth about $1.5 billion from First Capital’s top and third-largest shareholders, Bloomage Xinyu […]
An Australian judge dismissed a challenge by a group involving Rupert Murdoch’s Twenty-First Century Fox (FOXA.O) on Monday against an agreed takeover by CBS Corp (CBS.N) of struggling television broadcaster Ten Network Holdings Ltd (TEN.AX). Twenty-First Century Fox and CBS were creditors of Ten when it went into administration three months ago. Twenty-First Century Fox […]
Securities Exchange has approved the registration and listing of Wema Bank’s N50 billion Commercial Paper (CP) programme on its platform. The CP Programme registration, according to the Exchange, strategically positions Wema Bank Plc to easily and quickly raise short-term finance from the debt market at a time in the future it determines suitable, through CP […]
The Indigenous People of Biafra (IPOB) is being sponsored by a coalition of treasury looters and certain disgruntled elements to sabotage the Buhari Administration, under the guise of fighting for the rights of the people of the South-east. Minister of Information and Culture, Alhaji Lai Mohammed said this today in Lagos Sunday. ”Nigerians must understand […]