U.S. and European regulators approved Google Inc’s $12.5 billion purchase of Motorola Mobility Holdings Inc and said they would keep a sharp eye on the web search giant to ensure patents critical to the telecommunications industry would...

The Asset Management Corporation of Nigeria (AMCON) revealed yesterday that it has recovered N 600 billion of the non-performing loans (NPLs) it bought from banks last year. This amount represents 19% of the N 3.14 trillion it...

The Federal Government has unveiled plans to borrow $ 7.9 billion (N 1.2 trillion) from the World Bank and other multi-national financial institutions. The President sent a letter along with a list of projects to the National...

The Senate Committee on Appropriation has indicted Ministries, Departments and Agencies (MDAs) of the Federal Government of having inflated the 2012 budget by a colossal N 1 trillion. Chairman of the committee, Ahmed Maccido, informed journalists in...

The Nigerian Stock Exchange recorded brisk business today even as Valentine epidemic was underway in the commercial capital- Lagos. The stock market must have borrowed Cupid’s arrow to give investors a positive vibe as the All Share...

The management of Honeywell Flour Mills released its 3Q, 2o11 results on the floor of the exchange today. The company reported a growth in revenue of 20%. Revenues were N 27.94 billion, up from N23.36 billion over...

Guinness Nigeria Plc has notified the Exchange that the Board of Directors of Guinness Nigeria Plc. at its meeting of Thursday, February 9, 2012 accepted the resignation of Mr. Francis Agbonlahor from the Board of Directors of...

An increasing number of private equity firms are seeking to participate in deals in Africa. Businessnews spoke with a PE player based in New York over the weekend. The associate at the PE firm which controls $183...

MTN has advised its data subscribers to register the SIM in their devices in order to received uninterrupted services. Apparently the directive from the Nigeria Communications Commission (NCC) that all devices must be registered does not apply...

As part of its mandate to strengthen the power transmission and distribution networks in the country, Niger Delta Power Holding Company Limited, (NDPHC), owners of the National Integrated Power Project (NIPP) has declared one 60MVA 132/33 KV...