FSDH Merchant Bank analysts have projected that the Central Bank of Nigeria, CBN, will tighten monetary policy in the fourth quarter of the year by increasing the Cash Reserve Requirements, CRR, of banks. Head of Research, FSDH Merchant Bank, Mr. Ayo Akinwunmi disclosed this at a media presentation of the bank’s monthly economic, financial and […]
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Exxon and Chevron are earning billions and benefiting from the new tax law, but profits are falling short of expectations that were based on rising oil prices. The shares of both companies fell in afternoon trading Friday. Both U.S. oil giants were expected to get a boost from crude prices, which rose sharply in the […]
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Hyundai Motor says its net income has plunged 20 percent, continuing its losing streak to nearly a fourth year. South Korea’s largest automaker said Thursday its July-September net profit was 852 billion won ($758 million), compared with 1.1 trillion won ($978 billion) a year earlier. The maker of Genesis and Sonata has recorded profit loss […]
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Visa Inc.’s fiscal fourth-quarter profits rose 11 percent, the company said Wednesday, as the company continued to benefit from the purchase and integration of Visa Europe, as well as an increase of more customers spending on Visa’s payment network. The San Francisco-based company said it earned $2.14 billion, or 90 cents per share, compared with […]
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The Nigerian Government has planned to raise between ₦270 billion and ₦330 billion ($857 million – $1.1 billion) in local currency-denominated bonds in the fourth quarter of 2017, the Debt Management Office (DMO) said on Wednesday. DMO said it would auction between ₦135-165 billion worth of bonds maturing in 2021 and the same amount of […]
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Nigeria’s oil production will upsurge by 200,000 barrels per day by the fourth quarter of 2018, the Deputy Managing Director of Total, a principal partner of the Egina Project, Mr. Ahmadu Musa-Kida, has said. Musa-Kida disclosed this at the celebration of the Egina manifold sail away in Port Harcourt on Tuesday, according to a statement […]
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Nigeria’s rate of unemployment in surge up to 14.2 percent in the fourth quarter of 2016, from 13.9 percent in Q3, with the number of unemployed in the labour force increasing by 351,015 persons. This was revealed in the Unemployment/Under-employment Report released by the National Bureau of Statistics (NBS), yesterday. The report noted that the national unemployment […]
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Samsung Electronics Co Ltd said on Friday it paid Vice Chairman Jay Y. Lee, the third-generation leader of Samsung Group, 1.135 billion won ($1.02 million) in the fourth quarter of 2016, disclosing his compensation for the first time. Lee is currently on trial for bribery, embezzlement and other charges amid a corruption scandal that led […]
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