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All posts by BusinessNews Staff

  • Sport: Arsene Wenger rules himself out of England manager’s job

    Arsene Wenger has ruled himself out of managing England, he believes the job must be done by an Englishman. The odds on Arsenal’s French boss succeeding Fabio Capello after Euro 2012 tumbled to as low as 8-1...

    • Posted October 15, 2011
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  • Why petroleum subsidy must go, by Jonathan

    Despite the public outcry against the planned removal of fuel subsidy, President Goodluck Jonathan yesterday insisted on its withdrawal. Funds saved from the removal will stimulate private sector investments to bridge infrastructure gap and create incentives for investment...

    • Posted October 14, 2011
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  • Vitafoam Nigeria Gets IFC Loan to Expand in Sierra Leone

    Vitafoam Nigeria Plc, a foam- products manufacturer, received a $2.8 million loan from the International Finance Corp. to help it expand in the West African nation of Sierra Leone, an official said. The loan will go to...

    • Posted October 13, 2011
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  • Federal Government plans to invest US$2.68 billion in Indonesia refinery

    The Federal Government plans to invest RP24 trillion (about US$2.68 billion) in Indonesia to fund the construction of three oil refineries, an Indonesian official has said. According to The Jakarta Post, Indonesian Industry Ministry’s Director-General for manufacturing-based industry,...

    • Posted October 13, 2011
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  • Nigeria Gas and Steel invests N750m on local steel pipe mill

    The Nigeria Gas and Steel Limited (NGSL) has invested a  $5 million (N750 million) into the production of a locally-produced large diameter steel pipes in Nigeria. The Managing Director, Mr Hasib Moukarim, said the modern fashion of...

    • Posted October 13, 2011
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  • Fed Govt to sell N55b bonds on October 19

    The Federal Government is to sell N55 billion ($346.13 million) in three-year, five-year and 10-year sovereign bonds on October 19, at its 10th monthly debt auction this year, the Debt Management Office said on yesterday. The debt...

    • Posted October 13, 2011
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  • First Bank introduces product for Nigerians in the Diaspora

    First Bank of Nigeria Plc has said it had introduced ‘FirstDiaspora,’ a set of products specially designed to cater for various finance related needs and projects of Nigerians in the Diaspora. The bank explained in a statement...

    • Posted October 13, 2011
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  • RIM: Here’s what’s actually going on with BlackBerry services

    RIM is finally detailing what is happening with its data outage that has seen the service out of action for over three days, rather than just explain what is going wrong. It is the first time the...

    • Posted October 13, 2011
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  • Zinox Technologies to Commission Digital Plant by February

    Zinox Technologies, manufacturers of Zinox Computer brand,  is  planning  to install one of Africa’s largest Digital Computers Assembling plant in response to the improved power supply in the country. The design for the digital plant was concluded...

    • Posted October 13, 2011
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  • Nigeria economy records $51b forex inflow

    Nigeria economy recorded a total foreign exchange inflow of $51.02 billion in the first half of 2011, representing an increase of 29.8 per cent over the previous year’s figure. According to the Economic Report for the first half...

    • Posted October 13, 2011
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