Morning Beats
Oil prices fall as OPEC
boosts supplies
Oil prices sank to the lowest in
over one month, as rising United States (U.S.) inventories, higher output from
the Organisation of Petroleum Exporting Countries (OPEC) and Russia’s pressure
impact the market.Guardian
Notore helps to boost
Federal Government food security programme
The inevitability of economic
diversification became unavoidable following the fall in crude price from 2014,
and a mono-product oil economy like Nigeria, was left groping for alternative
income streams as earning from petroleum could no longer sustain its needs.Guardian
MTN divests from
Europe, targets more investments in Africa
To consolidate its hold on the
African market, South Africa’s mobile telecommunications firm, MTN is divesting
from Europe.Guardian
‘Trade liberalisation
bureaucracy frustrating Nigeria’s export to ECOWAS’
Bureaucratic bottlenecks in the
registration of products under the ECOWAS Trade Liberation Scheme (ETLS),
currently being managed by the Foreign Affairs Ministry are impede export goods
from Nigeria to other West African countries, the Lagos Chamber of Commerce and
Industry (LCCI) has said.Guardian
Firms move to address
housing gap with contemporary luxury apartments in Lagos
A strategic partnership between
two foremost real estate groups, African Capital Alliance, and The Elalan
Group, aims at bridging Nigeria’s housing gap with new contemporary luxury
apartments in Lekki, Lagos.Guardian
Notore Chemical lists
N100.75b shares on NSE
Plans N11.3b turnaround
maintenance Sotore Chemical Industries (Notore) Plc yesterday listed its entire
paid up share capital on the Nigerian Stock Exchange (NSE), opening up the
agro-allied company to the general investing public 13 years after it was
privatised by the Federal GovernmentThe
Nation
Nigeria seeks World
Bank’s collaboration to accelerate economic growth
The Federal Government has
approached the World Bank to leverage its global reach and expertise to
accelerate the growth of nation's economy.The
Nation
NSE lifts Fidson to
medium-price stock
The Nigerian Stock Exchange (NSE)
yesterday reclassified Fidson Healthcare Plc from low-priced stock to a
medium-price, enhancing the price discovery and trading liquidity for the
healthcare company. The reclassification took effect from August 1, 2018.The
Nation
World Bank to support
ERGP’s execution
The World Bank has expressed its
willingness to provide technical support to Nigeria on the implementation of
the Economic Recovery and Growth Plan (ERGP) mid-term review.The
Nation
CBN committed to
economic well-being of Nigerians
THE Central Bank of Nigeria, CBN,
yesterday restated its commitment to the economic well-being of all Nigerians.Vanguard
CBN to sanction banks
for clearing system default
The Central Bank of Nigeria (CBN)
has prescribed 26 sanctions, which includes payment of fines against banks that flout the
Nigerian Bankers Clearing System (NBCS) rules.Vanguard
Naira appreciates to
N362.31/$ in I&E window
Banking stocks lift
equity market as Notore Chemical lists 1.612bn shares
The trading of equities on the
Nigerian Stock Exchange, NSE closed higher on Thursday as it gained 0.21
percent, reversing Wednesday’s negative sentiment, just as Notore Chemical
Industries Plc listed 1.612 billion shares on the Exchange.Vanguard
FG generates N1.4tn
from operating surplus in 11 years
More than N1.4tn has accrued to
the Federal Government through the payment of operating surplus by Ministries,
Departments and Agencies since the enactment of the Fiscal Responsibility Act
in 2007, the Fiscal Responsibility Commission has said.Punch
External reserves lost
$669m in July ― CBN
The nation’s external reserves
fell by $669m last month, data from the Central Bank of Nigeria showed on
Thursday.Punch
Dunlop launches new
tyre product
Sumitomo Rubber South Africa
Limited, manufacturers of Dunlop tyres, has introduced a new product, the
Dunlop High Performance Sport SP FM800 tyre, for the Nigerian market.Punch
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