Category: Business
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Oil rises above $70 amid US, Iran face-off
Oil prices surpassed $70 per barrel on Monday for the first time in more than three months as the United States warned of increased threats to energy facilities in the Middle East after the assassination of an Iranian general, Qassem Soleimani, last week. The international oil benchmark, Brent crude, jumped 1.5 per cent to as…
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Mr Bigg’s rebrands in grand style
In its quest to remain in the hearts and minds of its old and prospective customers, Mr. Bigg’s, Nigeria’s pioneer quick service restaurant (QSR) has commenced what industry watchers have described as a first-of-its-kind revolution in the sector aimed at redefining the brand as well as guarantee improve quality of service. At a guided tour…
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MTN retires Dozie, five others
Telecoms giant, MTN has announced the retirement of its board chairman, Pascal Dozie and five other non-executive directors from the telco. In a note to the Nigerian Stock Exchange (NSE), it said the investing public and other stakeholders should note that the retirement follows the expiration of their tenure and in compliance with applicable codes…
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NNPC to supply 10 per cent of India’s crude oil
Despite competing demands for its crude oil from other countries, the Nigerian National Petroleum Corporation (NNPC) yesterday restated its commitment to sustaining the supply of 10 per cent of India’s crude oil demand. The Corporation’s Group Managing Director (GMD), Mele Kyari, renewed the commitment when he hosted the Indian High Commissioner to Nigeria, Abhay Thakur,…
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Naira gains marginally against dollar at parallel market
The Naira on Thursday gained marginally to the dollar at the parallel market in Lagos, exchanging at N358.5 to the dollar. The Pound Sterling and the Euro closed at N462 and N407, respectively. At the Bureau De Change (BDC) segment, the naira was sold at N360 to the dollar while the Pound Sterling and the…
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GERC to construct 340km railway line in Ghana at $2.2bn — cost of 156km Lagos-Ibadan rail line
The Ghanaian- European Railway Consortium (GERC) has agreed to construct a 340km standard gauge railway line in Ghana at $2.2 billion, the same contract price as the 156km railway line between Lagos and Ibadan. In 2016, China Civil Engineering Construction Corporation (CCECC), had signed a $2 billion agreement with the Nigerian government to build a…
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Just In: Facebook Suspends 200 Applications Over Data Misuse
200 (Two Hundred Applications have been suspended on Facebook as part of an investigation into misuse of private user data , Facebook said yesterday. Facebook said that the investigation was launched after revelations came up that political consulting firm Cambridge Analytica hijacked data on some 87 million Facebook users as it worked on Donald Teump‘s…