Oil prices tumbled 2 percent on Monday in volatile trade, as the dollar strengthened and China posted weak domestic demand data, sinking prices that had gotten a short-lived boost on concerns about potential reductions in crude supply from Libya. Global benchmark Brent crude futures were at $51.01 a barrel by 1:56 p.m. EDT (1714 GMT), […]
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The Nigerian National Petroleum Corporation on Friday announced that Chinese banks had made commitment to finance oil and gas projects in Nigeria. The NNPC Group Managing Director, Maikanti Baru, who disclosed this when a delegation of the Nigerian Gas Association paid him a courtesy visit in Abuja, recalled that Chinese organisations had recently committed $250m […]
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Premier of the State Council of the People’s Republic of China, Li Keqiang, has said that China will import $8 trillion worth of goods from Nigeria and other parts of the world in the next five years. Speaking at the end of its annual meeting of the new champions, otherwise known as Summer Davos, in […]
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Over 90 foreign companies from 10 countries are participating in this year’s Nigeria’s 4 in 1 International Trade Expo, which holds in Lagos from July 13 to 15, 2017. According to the organiser, Elan Expo, it is the second edition of the International Trade Fair attended by 70 companies from across the globe last year. […]
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Chinese authorities launched a frantic search for around 100 people feared buried after a landslide smashed through a mountain village in southwest Sichuan province on Saturday, local authorities said. Some 40 homes in the village of Xinmo were swallowed by huge boulders after the side of a mountain collapsed, blocking a two kilometre (one mile) […]
Read More At least 26 people were injured, four of them seriously, when a China Eastern Airlines flight from Paris hit turbulence on Sunday over southwest China, state media said. The incident happened when Flight MU744 from Charles de Gaulle Airport was descending to land at Kunming Changshui International Airport in Yunnan province, Xinhua news agency reported. […]
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China’s civil aviation authority has fined Dubai-based Emirates airline for violating safety rules and banned it from adding new routes in the country for six months. On April 17, an Emirates plane flew at the wrong height over the city of Urumqi in far-western Xinjiang, causing “serious flight conflict,” the Civil Aviation Administration of China […]
Read More A California woman was arrested on Tuesday on federal charges of conspiring to procure and illegally export sensitive space communications technology to her native country, China, the U.S. Justice Department said in a statement. Si Chen, also known as Cathy Chen, 32, could face a prison term of up to 150 years if convicted of […]
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The total trade volume between Nigeria and China for the first quarter of this year has hit $10billion but while China’s is surplus, Nigeria’s is deficit, the Chinese Foreign Trade Centre has said. Speaking through the Centre’s Deputy Director-General and China’s Import and Export Fair Secretary General, Xu Bing, yesterday, at the concluding ceremony of […]
Read More In furtherance of its economic policy, the Belt and Road Initiative, The People’s Republic of China has invested $22 billion in some projects in Nigeria, with another $23 billion on-going investment. Consul-General, Chao Xiaoliang disclosed this to newsmen, at the Chinese Lagos Consulate, yesterday. “Although, under the world sluggish economy, we witnessed the downward of […]
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Zamfara State Governor, Alhaji Abdulaziz Yari, on Tuesday made it known that the Chinese government had offered to open a credit line of $4.5bn for Nigeria to improve agriculture in the country. Yari disclosed this to State House correspondents after he and the Minister of Agriculture, Chief Audu Ogbeh, briefed President Muhammadu Buhari on the development […]
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The China Exim Bank will bankroll the $1.79 billion second phase of the Abuja Mass Transit Rail that will cover new areas in the capital city of Abuja. The Abuja second phase mass transit rail is expected to pass through Area 10, Berger junction, Jabi Motor, Wuse Market, through to Life Camp to terminate at […]
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