Morning Beats

Glaxo, Novartis Join $4 Billion Gates-Led Push to Fight Malaria

GlaxoSmithKline Plc and Novartis AG will contribute research funds to an almost $4 billion global effort to combat malaria as drug-resistant strains of the disease threaten to undo years of progress.Bloomberg

KPMG South Africa Fights for Survival

KPMG LLP’s South African unit is flying in trouble shooters from around the globe and hurriedly meeting clients to stem any further loss of business after becoming embroiled in three evolving scandals.Bloomberg

Liberian President Weah Orders Probe of Exxon's 2013 Oil Deal

Liberian President George Weah ordered a probe into Exxon Mobil Corp.’s 2013 deal for drilling rights off the coast of the West African nation, according to his office.Bloomberg

UnityKapital becomes Veritas Kapital Assurance

The Nigerian Stock Exchange (NSE) has changed the name of UnityKapital Assurance Plc to Veritas Kapital Assurance Plc. The NSE also changed the company’s trading symbol on Monday from UNITYKAP to VERITASKAP.The Nation

Lagos remits N9.56b into workers pension accounts

ABOUT N9.56 billion has been remitted by Lagos State Government as its workers’ pension contributions in the last one year, Governor, Akinwunmi Ambode, has said.The Nation

PenCom, LASPEC move to implement PRA 2014

Lagos State is amending its pension laws to align with the provisions of the Pension Reform Act (PRA) 2014.The Nation

NNPC begins oil search in Benue

The Nigerian National Petroleum Corporation (NNPC) exploration team has arrived Benue State to start the search for oil and gas in the Benue trough.The Nation

African Alliance: we’ve paid N46.1m NSE’s fine

African Alliance Insurance said it has paid N46.1 million fine slammed on it by the Nigerian Stock Exchange (NSE) for late submission of its 2015 and 2016 financial account, its Managing Director, Mrs Funmi Omo has said.The Nation

IDA launches bond to boost investment in poor countries

The International Development Association (IDA) yesterday in Washington DC, United States (U.S) launched its first bond in its nearly 60-year history.The Nation

UBA projects 50% profit contributions by subsidiaries  

United Bank for Africa (UBA) Plc expects its operations in 18 other African countries to account for half of its earnings over the next three years,The Nation

RMAFC recovers N57.7b from ‘stubborn’ banks

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) yesterday said it has recovered N57.7 billion unremitted revenues from collecting banks.The Nation

SEC, stakeholders meet tomorrow

Regulators, operators and other stakeholders in the capital market are scheduled to meet tomorrow to discuss key initiatives that could impact on the recovery and long-term growth of the market.The Nation

GIABA moves against money laundering, terrorist financing

The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) has organised a regional workshop on developing effective frameworks and structures to fight Money Laundering and Terrorist Financing (ML/TF) through Non-profit Organisations (NPOs).The Nation

Kenya shilling hits strongest level in nearly two years

The Kenyan shilling strengthened to its highest level against the dollar since May 2016 on Tuesday, traders said.Business Daily

KQ sacks Nigeria staff, appoints sales agent

Kenya Airways  has sacked nearly all its staff in Nigeria and appointed a general sales agent (GSA) to handle its commercial operations and customer service in that market. Business Daily

IMF delivers SA a vote of confidence

The IMF has given SA a vote of confidence, revising its growth projections, but also warned that progress would be slow unless structural reforms were implemented.Business Day

Bargain hunting propels N63bn gains in equities market

Activity on the Nigerian Stock Exchange, NSE, closed upbeat today as investors recorded N63 billion gains on their investment following bargain hunting across the major sectors.Vanguard

PenCom institutes legal proceedings against 61 employers

THE National Pension Commission, PenCom, said it instituted legal proceedings against 61 employers for failing to remit outstanding pension contributions of their workers in 2017.Vanguard

Rising taxes on alcoholic beverages threatening N420bn investments – Group

The Federal Government has been urged to reverse its decision to increase the excise duty on locally produced alcoholic beverages and tobacco as the policy is capable of affecting the over N420bn investments so far made in the wine and spirit industry.Punch

Unity Bank, Oando, Skye Bank lift stock market

The market capitalisation of listed equities on the Nigerian Stock Exchange rose by N93bn on Tuesday as 33 stocks led by Unity Bank Plc, Oando Plc and Skye Bank Plc recorded price appreciation.Punch

Your daily petrol consumption claim untenable, Falana tells Kachikwu

Human rights lawyer, Femi Falana (SAN), on Tuesday stated that the daily petrol consumption claim by the Minister of State for Petroleum Resources, Ibe Kachikwu, was untenable.Punch

Banks fail to remit N74.1bn govt revenues –RMAFC

Ongoing probe of banks that are collecting revenues for the government has shown that the lenders failed to remit N74.1bn into the Federation Account between July 2012 and December 2015.Punch