All posts by BusinessNews Staff

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  Brymedia Advances to Acquire NITEL

  Brymedia Consortium, the third place winner of the privatisation bid to acquire the assets of Nigerian Telecommunications Ltd NITEL and its mobile subsidiary Mtel,  has started making preparations in the likelihood that it might be called upon...

  • Posted April 21, 2011
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  Profit Taking Hits Equities

  The Nigerian equities market retreated at the close of business Wednesday as anxious investors rush to take profit following seven days of continuous rally. The market had between Monday and Tuesday this week added a total of...

  • Posted April 21, 2011
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  Nahco Aviance embarks on expansion drive

  NAHCO Aviance Plc has declared  an expenditure of $7.5 million in the last two years on next-generation ground support equipment, with an additional $13 million to be invested in the coming months. This is coupled with N17...

  • Posted April 21, 2011
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  Egypt in talks with IMF, World Bank on loans

  Egypt needs help financing its budget deficit and has discussed obtaining as much as $6.2 billion in soft loans from the World Bank and the International Monetary Fund, Finance Minister, Samir Radwan said. Egypt, whose economy is...

  • Posted April 21, 2011
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  ‘Banks’ recapitalisation opened up real estate crisis’

  CONTRARY to expectation that banks’ recapitalisation would boost money in circulation to the extent of providing loanable funds for housing development, the reformation only opened up the decay that characterised the banking and financial sector over the...

  • Posted April 21, 2011
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  Switzerland presses ahead with stricter bank rules

  The Swiss government pushed ahead on Wednesday with plans to make UBS (UBSN.VX) (UBS.N) and Credit Suisse (CSGN.VX)(CS.N) reach tough new capital standards, saying the benefit to the economy outweighed costs to the banks. As it finalised...

  • Posted April 21, 2011
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  Gold breaks $1,500 as investors seek security

  Gold shot up above $1,500 an ounce on Wednesday for the first time ever, as worries over the health of the global economy boosted the metal as a safe haven. Spot gold hit a high of $1,505.21...

  • Posted April 21, 2011
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  Corporation to pay N9.8b to defunct microbanks’ depositors

  Depositors of the 103 failed Micro Finance Banks (MFBs) whose licences were revoked by the Federal Government are to be paid about N9.8 billion by the Nigeria Deposit Insurance Corporation (NDIC). Beneficiaries numbering 731,000 in 91 out...

  • Posted April 21, 2011
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  Capital market needs market makers

  The absence of market makers is stifling the growth and efficiency of the Nigerian capital market.     New chief executive officer of the Nigerian Stock Exchange (NSE), Oscar Onyema, has promised to reverse this trend by...

  • Posted April 21, 2011
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  Oil & Gas Industry future in Nigeria very bright – Chief Obi

  THE role being played by Nigerians involved in the downstream sector of the country’s economy towards national growth is unquantifiable. In fact, they have succeeded, to a large extent, in filling the yawning gap in the area...

  • Posted April 19, 2011
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