Nestle expects to sell its U.S. confectionery business in the first quarter of 2018, following a review launched earlier this year as part of efforts to improve performance at the world’s largest packaged food company. Nestle said in June it was exploring strategic options for the more than $900 million per year business, which includes […]
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Nigeria’s external reserves rose by $1.91 billion in the first two weeks of this month, a Central Bank of Nigeria’s report indicated on Friday. The foreign exchange reserves stood at $36.86bn as of December 14, up from $34.95 as of November 30, the latest data obtained from the CBN showed on Friday. The analysts at […]
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The Nigeria’s Federal Government yesterday disclosed it released ₦336 billion as first quarter 2017 capital expenditure for federal Ministries, Departments and Agencies (MDAs). A statement from the Finance Ministry, said that the balance of N14 billion was being processed, pending resolution of some formalities within the agencies concerned. According to the statement, the Ministry of […]
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The Federal Inland Revenue Service (FIRS) says it generated ₦778.19 billion revenue in the first quarter of 2017. This is according to a progress report by the FIRS sent to the Federal Ministry of Finance on Tuesday in Abuja. The report, which showed the revenue performance for the first quarter of 2017, gave a breakdown […]
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The size of Federal Government’s loans has reflected on the debt servicing expenses as it spent ₦474.06bn to service domestic debts in the first three months of this year. Statistics obtained from the Debt Management Office in Abuja on Wednesday showed that the country also spent $127.92m to service foreign debts in the first quarter […]
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Banks reduced their lending to the economy by ₦115 billion in the first quarter of 2017, even as Nigerians withdrew ₦1.5 trillion through ATMs during the quarter. These were disclosed by the National Bureau of Statistics, NBS, in a report titled: “Selected Banking Sector Data” released yesterday. According to the report, banks lending to 17 sectors […]
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Nigeria recorded $908 million capital importation in the first quarter ended March this year, capital importation report for the period has indicated. Of the 36 states and the Federal Capital Territory, Abuja, Lagos, Akwa-Ibom, Ogun, Oyo and Rivers states attracted the interest of foreign investors in the first quarter of this year. They received $908.268 […]
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British luxury carmaker Aston Martin on Wednesday reported its first Q1 profit in a decade, marking a turnaround in its performance which could propel the company towards a market flotation. The 104-year old firm, made famous for making the sports car driven by secret agent James Bond, has made an annual loss in each of […]
Read More Nigeria Federal Government, the 36 states of the federation and the 774 local government areas have so far shared ₦1.4tn from the Federation Account, being revenue generated in the first quarter of this year. The breakdown is contained in the monthly Federation Account Allocation Committee report obtained by the News Agency of Nigeria on Sunday […]
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The French economy added nearly 50,000 new jobs in the first three months of the year, marking seven straight quarters of net new job creation, data from the INSEE statistics agencies showed on Friday. Non-farm private-sector payrolls rose by 49,400 or 0.3 percent in the first quarter, after rising an upwardly revised 67,300 or 0.4 […]
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Wema Bank Wednesday held its Annual General Meeting (AGM) where its financial report for the year ending December 31, 2016 was presented to shareholders. The report showed that the bank recorded a double-digit growth in gross earnings, which rose 18.48 per cent from ₦45.79 billion to ₦54.25 billion, driven by an 18.61 per cent and […]
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Oando Plc’s strategy of growth across its business operations has steadily paid off as it records ₦1.7 billion profit in Q1 2017. The company’s turnover grew by 116 per cent to ₦138.4 billion and gross profit by 53 per cent to ₦13.4 billion compared to the first quarter of 2016. Oando’s ₦1.7 billion profit can […]
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