All posts by Afolabi Ogunde

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  Earnings Forecast: Red Star, CCNN, Presco & Oasis Insurance forecast Q1, 2012

  Several quoted companies released their earnings forecast on the Nigerian Stock Exchange today. They include: Company Revenue/Gross Premium Net Income Period Red Star Express Plc N 5.07 Billion N 427.45 Million Q1 2012 (March) Cement Company of...

  • Posted December 19, 2011
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  Earnings Forecast: Julius Berger places Q1, 2012 Turnover at N 37.85 billion

  Julius Berger Plc has released its Q1, 2012 earnings forecast today on the floor of the Nigerian Stock Exchange. The construction company projects revenue by the end of March 2012 to be N 37.85 billion, 18% over...

  • Posted December 19, 2011
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  Hyundai Heavy to Build $ 1 Billion Gas Platform Offshore

  Hyundai Heavy Industries of South Korea has been awarded a multi-billion Naira contract to build an offshore gas platform. The contract was awarded by a US oil major company whose name has not been disclosed due to...

  • Posted December 19, 2011
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  Olusegun Aganga: Nigeria to be “The Investment Destination”, Investors Already Planning Refineries

  Whilst attending a World Trade Organization summit in Geneva last week, the Minister of Trade and Investments, Olusegun Aganga, spoke on Russia joining the WTO, and more importantly on Nigeria’s drive to diversify her economy. Responding to...

  • Posted December 17, 2011
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  IMF MD, Christine Lagarde To Visit Nigeria Next Week

  International Monetary Fund (IMF) Managing Director Christine Lagarde will visit Nigeria and Niger from December 18–22, 2011, on her first trip to Africa since her appointment earlier this year. Ms. Lagarde will hear from policymakers, the African...

  • Posted December 16, 2011
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  Fitch Ratings Cut Credit Grades of Bank of America, Goldman Sachs and Citigroup

  Bank of America Corp., Goldman Sachs Group, and Citigroup, had their credit grades cut by Fitch Ratings as the impact of financial regulation and market turmoil weighed on the industry. The lenders’ long-term issuer default ratings were cut one...

  • Posted December 16, 2011
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  Representatives: “We have not changed our position on subsidy”

  The House of Representatives have sent signals to the general public and the Presidency indicating that they are unimpressed with the 2012 National budget as proposed and submitted to their chambers by President Goodluck Jonathan and his...

  • Posted December 16, 2011
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  President: “Nigeria Cannot Continue to Borrow Because of Subsidy”

  Speaking at the Christmas Carol Service held at the Villa yesterday night, President Jonathan defended the absence of any provision for subsidy in the 2012 budget. In a speech delivered to those present at the venue, the...

  • Posted December 16, 2011
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  Stock Market Watch: Hurrahs as the market climbs over 20,000 threshold

  The Nigerian Stock Market closed the week on a very bullish note, in what is hopefully a sign of things to come for the hitherto battered market. The All Share Index inched up 1% or 100 basis...

  • Posted December 16, 2011
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  Earnings Watch: Prestige Assurance 3Q 2011 Numbers Released

  Prestige Assurance announced its unaudited 3Q, 2011 results on the floor of the exchange today. The company recorded a 3% increase in Gross Premiums written that sttod at N 3.24 billion at the end of September as...

  • Posted December 15, 2011
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