All posts by BusinessNews Staff

• Amid Scarcity, Cement Producers Post Bumper Profits

  Indications emerged last week that the unabated shortage of cement products and its correspondent exorbitant price are raising the profitability of local manufacturers, which are alleged to have conspired to frustrate calls for higher importation as a...

  • Posted April 24, 2011
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  Bank losses drag down indices by 1.2%

  Heavy losses recorded by banks’ shares, especially those of the rescued banks on Thursday, impacted negatively on trading activities on the Nigerian Stock Exchange. Specifically, the major market indicators shed 1.2 per cent each with the market...

  • Posted April 23, 2011
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  Spike in fuel prices erasing airline profits

  Soaring jet fuel prices are wiping out profits at the nation’s biggest airlines. The world’s biggest airline company, United Continental Holdings Incorporated, said on Thursday that it lost $213m in the first three months of the year...

  • Posted April 23, 2011
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  Exchange row threatens market confidence

  The positive trading recently recorded at the Nigerian Stock Exchange (NSE) may be reversed following the quarrel between Ndi Okereke-Onyiuke, director general of the Exchange, and some aggrieved AP shareholders, some market operators have said. The exchange...

  • Posted April 23, 2011
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  Central Bank may sack staff

  Lamido Sanusi, the CBN Governor has stated that some officials whose responsibility it was to raise the flag when things were going wrong in the banks cannot be absolved from blame for the crisis that eventually overwhelmed...

  • Posted April 23, 2011
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  Strong oil prices trigger fear of fiscal indiscipline.

  Analysts have warned against financial indiscipline in the corridors of power. Speaking against the backdrop of the increase of the benchmark for oil price in the budget last week, they cautioned against fiscal indiscipline. According to Yvonne...

  • Posted April 23, 2011
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  Central Bank to curb currency speculation

  As part of efforts to reduce pressure on the naira, the Central Bank of Nigeria (CBN) will today commence the sale of foreign exchange forwards. The sale was supposed to have commenced last Tuesday but had to...

  • Posted April 23, 2011
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  China Leads in Asian Stocks Decline

  Most stocks fell in Asia as Chinese shares slipped on speculation that the country’s central bank may let the yuan strengthen to cool inflation. China’s currency touched a 17-year high against the dollar, gold climbed to a...

  • Posted April 23, 2011
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  Toyota Predicts Global Output Will Normalise by December

  Toyota Motor Corp.   expects production to return to normal by December at the latest, as the world’s biggest car maker struggles with supply-chain disruptions caused by Japan’s record earthquake and tsunami. The automaker will begin raising production...

  • Posted April 23, 2011
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• 90,000 Botswana Govt Workers on Strike

  Public servants across Botswana are in the fourth day Thursday of a strike that is expected to last until April 29. The strike began after the mediator between the five unions representing civil servants and the Directorate...

  • Posted April 23, 2011
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