Elliott Management Corp, the largest creditor of the bankrupt parent of Oncor Electric Delivery Co, is exploring putting together a bid for the Texas power transmission company that would top Warren Buffett’s $9 billion all-cash deal, people familiar with the matter said on Friday. If Elliott, the hedge fund run by billionaire Paul Singer, proceeds […]
Players in the retail segment of the Nigerian inter-bank foreign exchange market received a $254.3 million boost from the Central Bank of Nigeria (CBN) on Friday following bids received from foreign exchange dealers by the apex bank. Information obtained from the CBN on Friday indicates that the deals in the retail window represent requests from […]
Ghana’s first satellite, dubbed Ghansat-1, was released and deployed into orbit at an altitude of 420 km, according to the media in that country on Friday. “This followed the successful launch on June 10 into the International Space Station (ISS) by SpaceX, Flight 11 from Kennedy Space Centre in Florida, the United States,’’ the reports […]
Major producers of cement in the country have assured that they are actively working to reduce the cost of the product as soon as possible. The Chairman, BUA Cement, Abusamad Isyaku Rabiu, told State House correspondents after a meeting with Acting President, Yemi Osinbajo, in Abuja on Thursday, that the country’s foreign exchange situation and […]
The Central Bank of Nigeria (CBN) has said the Nigeria InterBank Settlement System (NIBSS) recorded over 1,200 per cent increase in reported fraud cases in 2016, estimated at N2.19 billion when compared to 2014 cases. According to ‘Dipo Fatokun, CBN’s Director, Banking and Payments System Department and Chairman, Nigeria Electronic Fraud Forum (NeFF), in a […]
The Global passenger traffic has recorded 11.7 per cent growth in May 2017, showing African airlines leading all regions compared to the results in 2016. Mr Alexandre de Juniac, Director-General of International Air Transport Association (IATA) in Geneva, said in a statement released in Lagos on Thursday that African airlines also recorded the highest passenger […]
In a bid to improve voluntary declaration of tax, the Federal Government on Thursday took to the streets of Abuja to enlighten and educate the public on the need to pay tax Chairman of the Federal Inland Revenue Service (FIRS), Mr BabaTunde Fowler, who led the campaign in Abuja, said it would be held in […]
Budget and National Planning Minister, Udoma Udo Udoma, has reassured Nigerians that the country will come out of the economic recession before the end of 2017. The minister told journalists after briefing members of the National Working Committee (NWC) of All Progressives Congress (APC) on the implementation of the 2017-2020 Economic Recovery and Growth Plan […]
Singapore has a near-perfect approach to cybersecurity, but many other rich countries have holes in their defenses and some poorer countries are showing them how it should be done, a U.N. survey showed on Wednesday. Wealth breeds cybercrime, but it does not automatically generate cybersecurity, so governments need to make sure they are prepared, the […]
All Volvo car models launched after 2019 will be electric or hybrids, the Chinese-owned company said on Wednesday, making it the first major traditional automaker to set a date for phasing out vehicles powered solely by the internal combustion engine. The Sweden-based company will continue to produce pure combustion-engine Volvos from models launched before that […]