EU broadens its dirty-money blacklist, adds Saudi Arabia
Businessam Staff
February 13, 2019
STRASBOURG (Reuters) – The European Commission added Saudi Arabia, Panama, Nigeria and other jurisdictions to a blacklist of nations that pose a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday. The move is part of a crackdown against money laundering after several scandals hit EU banks […]
AfDB, ECOWAS sign US$22.7m agreement on 1,000km Abidjan-Lagos highway study
Nse Anthony-UkoFebruary 5, 2019
The African Development Bank (AfDB) and ECOWAS, have signed an agreement for a study into a 1,000 km highway that will link Cote d’Ivoire’s commercial capital Abidjan, to Lagos. The total financing for this study which has been put at US$22.7 million, comprises of AFDB approved $12.6 million dollars to finance part of the study; […]
Phillips Consulting moves to mitigate socio-economic impacts of cancer in Nigeria
Chris IkosaFebruary 4, 2019
In a bid to mitigate the socio-economic effects of cancer in Nigeria, Phillips Consulting Limited (PCL) is directing significant research capabilities towards supporting stakeholders in ensuring the effectiveness of cancer management through the effective project management of palliative programs and initiatives. The consulting firm’s managing consultant, Victor Mba made this known in a statement made […]
Nobel winner Robert Shiller says there’s still a risk of a full-blown bear market
Businessam StaffJanuary 23, 2019
U.S. stock markets may have recovered slightly from sharp falls at the end of last year, but there’s still a risk of a significant downward trend, Robert Shiller, a professor of economics at Yale University and a Nobel laureate, told CNBC Wednesday. “I’m not confident of my ability to predict, but I think there’s a […]
After resigning, World Bank chief joins Nigerian business man in private business
Businessam StaffJanuary 9, 2019
World Bank President, Jim Yong Kim, who announced his resignation from the international bank, has revealed he is going into private business practice with Nigerian born businessman, Bayo Ogunlesi. Financial Times reports that Jim Yong Kim would join Ogunesi’s Global Infrastructure Partners, a New York-based private equity fund, in a position, where he would be […]
Expect currency devaluation in 2019 – Vetiva
Afolabi OluwaseunDecember 18, 2018
Aanalysts at Vetiva Capital have hinted that the year 2019 could see the naira get devalued. In a monitored interview on CNBC, Ifedayo Olowoporoku, an analyst at Vetiva, said that in the year 2019, forex market pressures will persist, and could lead to the naira being slightly devalued towards the end of next year, forecasting […]
Nigeria’s equities market retreats, as ASI dips 0.82%
Adesola AfolabiDecember 10, 2018
The first trading day of the week at Nigeria’s equities market ended on a negative note with depreciation recorded across all major sectors, dragging the All Share Index (ASI) 0.82 percent down as investors began taking profit. The consumer goods index declined the most, down 2.3 percent following sell pressures in Nestle (-4.1%), Nigerian Breweries […]
Nigeria SEC takes e-Dividend campaign to South East
Businessam StaffDecember 4, 2018
The Securities and Exchange Commission (SEC) south east zonal office is to commence a sensitisation programme on the process and benefits of e-Dividend, multiple subscription, e-processes and other contemporary issues in the Nigerian capital market. The programme will take the form of town hall meetings with stakeholders and the general public The SEC said the […]
Wall Street recovers on anticipated hopes of trade truce, Powell’s speech in focus
Businessam StaffNovember 28, 2018
U.S. stocks gained on Wednesday on hopes of a trade truce between the United States and China at the upcoming G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes. Though President Donald Trump talked tough ahead of a high-stakes upcoming meeting with China’s […]
Rate hike on card as monetary committee meets
Moses ObajemuNovember 14, 2018
The) of the Central Bank of Nigeria (CBN) is to meet on Monday and Tuesday next week to consider key macro economic indices and other monetary policy issues ahead of the general elections next year. Informed industry sources say the Monetary Polic Rate (MPR) may be reviewed upward from the present 14 percent. The MPR […]