All posts by BusinessNews Staff

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  Mass Civilian Rally puts Putin under Pressure

  Tens of thousands of flag-waving and chanting protesters called on Saturday for a disputed parliamentary election to be rerun, increasing pressure on Vladimir Putin as he seeks a new term as Russian president. The protesters chanted “Russia without...

  • Posted December 24, 2011
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  13 Year Old Makes Solar Power Breakthrough

  One would be excused for suspecting that Aidan Dwyer, said to be 13, is in fact a small, very young-looking, 37-year-old college-educated con-man of the highest order. Such is not the case though for what the young...

  • Posted December 24, 2011
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  Shell Confirms Source Of Oil Spill

  Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, confirmed the source of what could be Nigeria’s worst offshore spill in more than a decade to a leak in a flexible export line to a tanker. Cleanup operations...

  • Posted December 23, 2011
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  Shareholders give nod of approval to Ecobank/Oceanic merger

  SHAREHOLDERS of Ecobank Nigeria Plc, yesterday, approved the bank’s board’s proposal to conclude merger agreements with Oceanic Bank Plc, after Ecobank’s parent firm Ecobank Transnational Incorporated (ETI) acquired 100 per cent stake in the troubled financial institution...

  • Posted December 23, 2011
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  President Jonathan Commissions BoI’s Office, Orders Recapitalisation

  The Federal Government has ordered the recapitalisation of Bank of Industry (BOI) and directed that its equity be opened up to attract investors. This is to ensure adequate funding for the nation’s industrial sector. President Goodluck Jonathan, who...

  • Posted December 23, 2011
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  Senate summons Shell over Coastal Crude oil spill

  The Senate on Thursday summoned the Managing Director, Shell Nigeria Exploration and Production Company (SNEPCo) over a major oil spill at its Bonga deepwater facility off the Nigerian coast. Also invited over the massive spill are the leadership...

  • Posted December 22, 2011
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  Fuel Subsidy: President Jonathan cannot be trusted – Labour Union

  Labour unions have told President Jonathan that they could not trust him to implement the projects envisaged to be financed with fuel subsidy removal funds because he failed to honour previous commitments. They also said the N1...

  • Posted December 22, 2011
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  FIRS Arrests FCDA Boss Over N28.2bn Unremitted Taxes

  The Federal Inland Revenue Service yesterday arrested the Executive Secretary (ES) of the Federal Capital Development Authority, Engr Adamu Ismaila over N28.2billion unremitted taxes. Adamu was picked up in his office at about 12:03pm by an enforcement...

  • Posted December 22, 2011
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  IMF chief warns Africa to prepare for Europe fallout

  Many countries in sub-Saharan African are less prepared to deal with an economic shock now than they were during the 2008 food and fuel crisis and the global financial turmoil that followed, IMF chief Christine Lagarde said...

  • Posted December 22, 2011
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  NCAA Summons Oil Marketers Over Supply of Adulterated Kerosene to Airlines

  The Nigerian Civil Aviation Authority (NCAA) yesterday  summoned oil marketers to a meeting  over alleged supply of adulterated kerosene to airlines instead of the approved Aviation Fuel otherwise called Jet-A1. This stemmed from allegations levelled against one of the...

  • Posted December 22, 2011
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