All posts by Afolabi Ogunde

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  Oil At Two-Month High As Equities Gain, Dollar Declines

  Oil rose to the highest level in more than two months after better-than-estimated corporate earnings bolstered optimism that economic growth will accelerate. Futures climbed as much as 2.4 percent as equities gained, led by commodity and industrial...

  • Posted August 7, 2012
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  Has Standard Chartered Bank gone Rogue?

  Standard Chartered bank illegally “schemed” with Iran to launder as much as $250bn (£161bn) for nearly a decade, a US regulator says. The New York State Department of Financial Services said that the bank hid 60,000 secret transactions...

  • Posted August 7, 2012
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  N-11’s, MISTs and BRICs: How Emerging Economies Are Winnning

  Jim O’Neill is a man of great foresight. When he was the head of Global Macroeconomic Research at Goldman Sachs, he developed some of the most important acronyms known to the world of economics. The most important...

  • Posted August 7, 2012
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  Reps Vow not To Pass PIB in Present Form, Cite Oil Minister as Cause for Concern

  The Representatives are adamant on not passing the Petroleum Industry Bill in its present form. According to interviews conducted by Reuters, the lawmakers cite several reasons for refusing to pass the PIB in its current form. One...

  • Posted August 7, 2012
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  First Bank Gets Go-ahead to restructure

  First Bank said last week it had won regulatory approval to transfer its subsidiaries into a newly-formed holding company, in line with regulatory requirements to separate core lending from other businesses. The central bank two years ago...

  • Posted August 7, 2012
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  FG Promotes Investment Opportunities with Brazilian Investors

  The Federal Government has highlighted the investment opportunities to Brazilian investors who recently paid a visit to the Minister of Trade and investment, Dr. Olusegun Aganga. The Brazilian company Queiroz Galvao is a multi-billion dollar company with interests...

  • Posted August 7, 2012
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  Business Leaders to Converge on Porsche Centre for Awards

  Airtel Nigeria in conjunction with Forbes Africa and CNBC will be hosting this year’s All Africa Business Leaders’ Awards. The awards are a platform to give recognition to business leaders creating a culture of entrepreneurship, developing best practices,...

  • Posted August 7, 2012
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  AMCON Appoints RenCap and Citi Bank as Advisers for Bridged Banks

  The Asset Management Corporation of Nigeria (AMCON) has appointed Renaissance Capital and CitiBank to act as advisers in the sale of the bridged banks rescued by the government agency. The three bridged banks are former Bank PHB,...

  • Posted August 7, 2012
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  Nigerian Stock Exchange Watch: ASI (-0.44%) Retreats as Blue Chips Slide

  The All Share Index shed 0.44% on the back of losses from key blue chip companies namely First Bank (-2.5%) and Nigerian Breweries (-2.7%). Other key participants down in the day’s trading were Mobil (-4.84%) and Total...

  • Posted August 6, 2012
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  Naira Heads For Longest Losing Streak Since May On Import Demand

  The naira declined for a fifth day, the longest losing streak since May, as companies bought dollars to pay for imports and analysts speculated that the state-oil company will limit supply of the U.S. currency. The naira...

  • Posted August 6, 2012
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