NCC, CBN set deadline for 9mobile takeover bid
Businessam Staff
January 12, 2018
Nigerian Communications Commission (NCC) alongside the central bank have set a Jan. 16 deadline for receipt of binding offers from prospective bidders to acquire debt-laden telecom firm 9mobile, the telecoms regulator said on Thursday. The regulators approved the deadline after 9mobile’s board requested a time extension, the NCC said. It added that Barclays Africa will […]
Samsung tops list of capital spenders in 2017 with $44bn.
Businessam StaffJanuary 10, 2018
South Korea’s Samsung Electronics Co. spent $44 billion in 2017 on capital expenditure than any other publicly traded company, according to S&P Global Market Intelligence report. The report shows how technology and telecommunications firms are driving an uptick in manufacturing investment. The South Korean tech giant nearly doubled its investment in new or existing facilities […]
Vitafoam approves N156.3m dividend for investors
Jerome UshakangJanuary 8, 2018
The board of directors of Vitafoam Nigeria Plc. has approved the N156 million-dividend payout for investors in accordance to a resolution passed at a meeting held on December 19, 2017, which recommended 15 kobo dividend per share for the financial ended September 30, 2017. However, the approval is subject to concurrence by the shareholders at […]
South Africa Airways increases capacity to Mauritius
Businessam StaffJanuary 8, 2018
From January 8, SAA will operate wide-body aircraft on its Johannesburg-Mauritius route. The Airbus A330 generation aircraft will offer a two-class cabin configuration, with increased seat availability. Business class will range from 36 to 46 seats and economy class from 186to 203. The A340-300 has 38 seats in business class and 215 in economy class. […]
Access Bank appoints Bajomo executive director
Jerome UshakangJanuary 5, 2018
Access Bank Plc. has announced the appointment of Adeolu Bajomo as executive director, information technology, and operations. The bank in a statement said his appointment has received regulatory approval as he replaced Ojinika Ofaghere who has resigned from the position. Prior to the appointment, Bajomo was executive director, market operations, and technology at the Nigerian […]
Eurozone growth hits near seven-year high of 58.1% in December
Businessam StaffJanuary 4, 2018
Europe’s companies have posted their strongest growth since 2011. The eurozone composite PMI, which measures activity across the region, jumped to 58.1 in December, up from November’s 57.5. The service sector PMI rose to 56.6, up from 56.2 a month earlier. Companies reported that new orders strengthened last month, with manufacturers seeing the steepest increase […]
London airport suspends flights as snow brings travel chaos to the capital
Businessam StaffDecember 27, 2017
Heavy snow is causing transport difficulties across the UK, after the Met Office issued a series of weather warnings. The poor weather conditions led London Stansted to close one of its runways and suspend flights. The runway has since reopened, but the closure has led to ongoing delays and cancellations. The airport has advised passengers […]
Barclays expects $1.3bn writedown from U.S. tax reform
Businessam StaffDecember 27, 2017
Barclays expects to take a writedown of about 1 billion pounds ($1.34 billion) on its annual post-tax profit as a result of the U.S. tax overhaul, the bank said in a statement on Wednesday. The reform of the tax system signed into law by President Donald Trump on Dec. 22 will force the British lender […]
Uber selling off auto-leasing business
Businessam StaffDecember 27, 2017
After confirming the closure of its auto-leasing business, Xchange Leasing, Uber is now reportedly selling it, according to The Wall Street Journal. The buyer? Car ownership startup Fair.com. Uber announced in September that it would be shutting down Xchange Leasing, its Delaware-based subsidiary which partners with auto dealerships to offer vehicle leases to U.S. Uber […]
Nokia signs smartphone patent license deal with China’s Huawei
Businessam StaffDecember 21, 2017
Nokia, the Finnish multinational communications, information technology and consumer electronics company, said Thursday it had signed a multi-year smartphone patent license deal with China’s Huawei, completing its list of agreements with the world’s largest handset makers. The new deal is one in a series of deals with global mobile phone makers. Nokia recently struck licensing […]