More and more companies are confirming that President Trump’s trade war is slowing down the global economy. On Wednesday, Apple (AAPL) shocked markets when it said revenue in its holiday quarter would miss expectations. This news sent Apple shares down as much as 7% after hours and confirmed the market’s biggest fear about the global […]
Month: January 2019
Shell to load first condensate cargo from Prelude FLNG project end Jan
Shell will load the first condensate cargo from Australia’s Prelude FLNG project at end January, according to shipping reports and sources Thursday. The condensate will be loaded in a 80,000 mt clip over January 31 to February 2, shipping reports showed. A vessel has not been fixed for the cargo, and shipbrokers said Shell began […]
2019 elections: Stock market indicators depreciate by 19.77%
The year 2018 was not so rosy for the Nigerian Stock Exchange (NSE) as its crucial indicators depreciated by 19.77 per cent due to uncertainties surrounding the forthcoming general elections. The News Agency of Nigeria (NAN) reports that the exchange which was named the third best performing stock exchange in the world in 2017 with […]
Total starts up production at Nigeria’s Egina oil field
French oil major Total SA has started production at its Egina deep oil field in Nigeria, where production is expected to plateau at 200,000 barrels of oil a day, the company said on Wednesday. That rate of output represents about 10 percent of Nigeria’s current oil production. The project is expected to significantly boost Total’s […]
We’re open for business, U.S. Embassy in Nigeria says
The U.S Embassy in Abuja and the Consulate General Office in Lagos will remain open in spite of the U.S. Government shutdown. A statement from the Information Office, Public Affairs Section, Abuja, for the USCGLagosInformationSection, said on Wednesday that normal services at the Consular Sections were ongoing. The statement explained that speculations of alleged closure […]
Peter Obi wants states to determine their workers’ salaries
Mr. Peter Obi, the Vice Presidential candidate of PDP has joined the debate on national minimum wage and submitted the need for states to determine what they pay their workers based on their realities. “Minimum wage doesn’t have to be universal,” he said on Politics Today, a programme of ChannelsTV. “I don’t believe that somebody […]
We Did Not Intercept container Full of US Dollars — Nigeria Customs
National Public Relations Officer of Nigeria Customs Services, NCS, Joseph Attah has debunked news trending in the social media that one of the recently seized 40 containers by Customs along Apapa road contains United States dollars. 440 pump action riffles intercepted by Customs Attah, who made this known to the media during a press briefing […]
Nigeria Stock Market: Mergers, acquisition Will End Illiquidity — Stakeholders
Capital market stakeholders have identified mergers and acquisition as the best option to tackle liquidity challenges among stockbroking firms, and also restore confidence in stock market. This follows the recent expulsion of 35 stockbroking firms by the Nigerian Stock Exchange (NSE), over corporate governance issues, The stakeholders, who spoke in a chat with The Guardian, […]
Crude futures dip on bearish supply outlook
Crude oil futures dipped in mid-morning trade in Asia Wednesday as a bearish supply outlook kept a lid on prices. At 10:56 am Singapore time (0256 GMT), ICE March Brent crude futures were down 27 cents/b (0.50%) from Monday’s settle at $53.53/b, while the NYMEX February light sweet crude contract was 7 cents/b (0.15%) lower […]
Nigeria refineries To Undergo Major Repairs Soon: NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation(NNPC), Dr Maikanti Baru, said that the country’s refineries had not undergone Turn Around Maintenance(TAM) for an aggregate of 42 years. Baru disclosed this in his New Year message issued by the Corporation spokesman, Mr Ndu Ughamadu, in Abuja, on Monday. He said that in spite […]