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  • Stanbic IBTC posts N4.73b in half year profit

    The management of Stanbic IBTC Bank, on Wednesday reported that although gross earnings income for the half year ended June 30, 2011 rose to N32.197 billion from N28.376 billion in the corresponding period of last year, profit before...

    • Posted July 28, 2011
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  • First Bank posts N36b in half-year profit

    First Bank of Nigeria (FBN) Plc grew net profit by more than 23 per cent in the first half of this year, harnessing the gains of the recent restructuring to improve its market share and profitability. Interim report and...

    • Posted July 27, 2011
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  • Nigeria’s dollar bond yields fell to a record low

    Nigeria’s dollar bond yields fell to a record low as demand for higher-yielding assets rose after officials approved an aid payment to Greece to prevent a default and the naira gained after an inflow curb was lifted....

    • Posted July 27, 2011
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  • Petrobras Won’t Need Additional Debt in a Decade, CFO Says

    Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, said its plan to more than double output will boost cash flow and eliminate the need to tap debt markets after about 10 years. The company’s profit from oil sales...

    • Posted July 27, 2011
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  • Oando announced a 25 per cent growth in profit

    Oando Plc has announced a 25 per cent growth in profit after tax in its half year 2011 financial performance. According to the unaudited results for the half year ended, June 30, 2011, presented to the Nigerian Stock...

    • Posted July 27, 2011
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  • FG to spend N880bn on power in 4 years

    THE Federal Government, on Tuesday in Lagos, rolled out the transformation agenda of President Goodluck Jonathan, designed to fast-track Nigeria’s steady march at becoming one of the top 20 economies by 2020. In line with international best...

    • Posted July 27, 2011
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  • CBN Increases Benchmark Rate to 8.75% to Curb Inflation

    Central bank increased its benchmark interest rate for the fourth time this year as rising wages and higher energy costs threaten to boost inflation. The monetary policy rate increased by three quarters of a percentage point to...

    • Posted July 26, 2011
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  • Candax Energy farms out major oil and gas exploration to Afren

    Candax Energy Inc. says it has entered into a binding agreement to farm out a major part of its working interest and operatorship of Block 1101 in Madagascar to LSE-listed energy company Afren Plc. After the transaction,...

    • Posted July 26, 2011
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  • Greek Coke bottler CCH to buy out Nigerian Bottling Company

    Greek Coke bottler Coca-Cola Hellenic (CCH) has won shareholder approval to buy out the Nigerian Bottling Company and turn it into a wholly-owned subsidiary in a deal worth $136 million, its local unit said on Monday. CCH,...

    • Posted July 25, 2011
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  • Syntel Partners Ericsson in bid to acquire NITEL

    Nigerian firm Syntel has finalised a technical partnership agreement with Swedish equipment vendor Ericsson in an attempt to acquire a 75% stake in fixed line incumbent Nigeria Telecommunications (NITEL), after the latest attempt to sell the ailing...

    • Posted July 25, 2011
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