FBNHoldings renames its merchant banking and asset management businesses
Businessam Staff
December 19, 2017
In line with the objectives to deliver a consistent customer experience and drive increased stakeholder value, FBN Holdings Plc has announced the renaming of all entities under its Merchant Banking and Asset Management group. These are FBNQuest Merchant Bank, FBNQuest Asset Management, FBNQuest Securities; FBNQuest Capital, FBNQuest Trustees and FBNQuest Funds. The merchant banking and […]
China demand makes donkey prices soar
Businessam StaffDecember 19, 2017
Increasing demand for donkey skin by China has escalated the prices for the beast of burden, creating a big problem for Nigerian peasants and artisans who use it. In China, the skins of donkeys are believed to have medicinal properties. “Two years ago we were buying donkeys strong enough for our trade for between 15,000 […]
Disney buys Fox assets in $52bn split of Murdoch Realm
Businessam StaffDecember 14, 2017
Walt Disney Co. agreed to a $52.4 billion deal to acquire much of the global empire that media baron Rupert Murdoch assembled over three decades, from a fabled Hollywood studio to Europe’s largest satellite-TV provider to one of India’s most-watched channels. Holders of Murdoch’s 21st Century Fox Inc. will get 0.2745 Disney share for each Fox share, […]
BAT trading in line, sees another year of earnings growth
Businessam StaffDecember 14, 2017
British American Tobacco said on Wednesday it was continuing to perform well and it was confident it would deliver another year of good earnings growth at constant currency as its brands outperformed the industry. BAT, which makes Lucky Strike and Dunhill cigarettes, said in a second-half trading update that its markets in Canada, Germany, Romania, […]
Turkey’s TAV Havalimanlari Holding plans bid for four Nigerian airports
Businessam StaffDecember 14, 2017
Turkey’s biggest airport operator, TAV Havalimanlari Holding AS, is planning to bid for concession contracts for four airports in Nigeria, according to Bloomberg’s report. The Istanbul-based company, majority owned by Aeroports de Paris, has already submitted a non-binding bid for the airports, which include those in Lagos and Abuja. Though, according to the report, the plan […]
Investec provides U.K. fintech with $67m for online loans
Businessam StaffDecember 13, 2017
In a sign that a sweeping new European Union banking law may be spurring banks and fintech startups to tie-up, Investec Plc has formed a pilot program with MarketInvoice Ltd., a British online lender to businesses. According to Bloomberg, London-based MarketInvoice, which arranges loans for small companies secured by accounts receivable, will handle the underwriting […]
Nigerian Breweries announces Borrut Bet new managing director/CEO
Businessam StaffDecember 11, 2017
The board of directors of Nigerian Breweries Plc. has announced new management changes. Rising from its meeting late last week, the board named Jordi Borrut Bel as the substantive managing director/CEO of the Company effective January 22, 2018. He replaces Johan Antonie Doyer, who has managing director/CEO on an interim basis since June. Doyer is […]
Alibaba to Invest $200m in India online grocer
Businessam StaffDecember 8, 2017
Alibaba Group Holding Ltd., China’s e-commerce giant, plans to invest about $200 million in India’s largest online supermarket, Bigbasket, leading a $280 million funding round in the startup, according to people familiar with the negotiations. Alibaba is taking a stake of about 25 percent in Bigbasket after months of negotiations, said the people, asking not […]
Oil trades near $56 after slump as U.S. gasoline stockpiles gain
Businessam StaffDecember 7, 2017
Oil held losses near $56 a barrel after falling the most in two months as U.S. gasoline stockpiles expanded more than expected, offsetting a third weekly decline in crude inventories. Futures were little changed in New York after tumbling 2.9 percent Wednesday, the biggest daily drop since Oct. 6. Motor fuel stockpiles rose by 6.78 […]
Arsenal money transfer company nets $40m in growth investment
Businessam StaffDecember 7, 2017
Private equity firm Leapfrog Thursday led a $40m (£30m) fundraising for digital money transfer firm Worldremit. Existing investors Accel and TCV also participated in the capital raise. Worldremit said it would use the proceeds to target 10m new emerging markets customers by 2020, according to report by City A.M. WorldRemit last month became Arsenal football […]