By Lydia Ngwakwe Naira exchanged at N461.75 to the dollar at the Investors and Exporters window on Friday. The rate represented a further depreciation by 0.08 per cent, compared with the N461.40 which it exchanged to the dollar on Thursday. The open indicative rate closed at N461.33 to the dollar on Friday. An exchange rate […]
By Chimezie Anaso The Independent Petroleum Marketers Association of Nigeria (IPMAN), has said that the prevailing shortage in the supply of Premium Motor Spirit (PMS) in the Southeast may not end soon because of the challenges facing marketers in procuring products. Mr Chinedu Anyaso, Chairman of IPMAN, Enugu Depot Community in charge of Anambra, Ebonyi […]
Most Adani Group shares fell sharply on Monday as the Indian conglomerate’s rebuttal of a US short seller’s criticism failed to pacify investors, deepening a market rout that has now led to losses of $65bn in the group’s stock values. Led by Asia’s richest man Gautam Adani, the Indian group has locked horns with Hindenburg […]
The global economy will weaken this year as rising interest rates and Russia’s war in Ukraine continue to weigh on activity. But economists are more optimistic than they were just a few months ago. The International Monetary Fund said Monday that it now expects global growth will slow from 3.4% in 2022 to 2.9% in 2023. That’s up from […]
Samsung’s quarterly profits have plunged to their lowest level in eight years as customers snapped up fewer cell phones and laptops. The tech giant reported operating profit of 4.3 trillion Korean won ($3.5 billion) on Tuesday for the three months ended December, down 69% from a year ago. Revenue fell 8% to just under 70.5 […]
Group General Manager, Nigerian National Petroleum Corporation, Mele Kyari, on Thursday said the Federal Government subsidises Premium Motor Spirit with about N120bn ($263.25m) monthly. He said while the actual cost of importation and handling charges amounts to N234 per litre the government had been selling at N162 per litre therefore bearing the difference. Kyari spoke […]
Director-General of Nigerian Maritime Administration Safety Agency (NIMASA), Dr. Bashir Jamoh, has assured maritime stakeholders that the Agency’s modular floating dock is in the process of being deployed. Jamoh disclosed this during a visit to Managing Director of Nigerian Ports Authority (NPA) Hadiza Bala-Usman at the NPA headquarters, Marina, Lagos. Jamoh stated, “I am here […]
…Commends school’s transformation efforts By Foster Obi The Alumni of Maritime Academy of Nigeria (AMANO) has commended the Academy’s efforts to enhance its profile and technical capacity with more stimulators, better remuneration for staff, even as it initiates plans to build a modern marine exhibition center. The Rector of MAN Oron, Comr. Duja Efedua revealed […]
Oil prices surged more than four percent on Friday, over mounting fears that it will take weeks to refloat Ever Given, a mega-container ship stranded in Egypt’s Suez Canal. Brent crude, the international benchmark, increased 4.36 per cent, to $64.67 per barrel at 18:17 GMT on Friday, after plummeting 3.8per cent on Thursday. The U.S. […]