Lenders and travelers stick with Ethiopian Airlines, for now

March 19, 2019

Financiers, passengers and industry partners are, for now, still backing Ethiopian Airlines’ quest to become Africa’s dominant carrier, despite a March 10 crash that killed 157 people. The causes of the Flight 302 tragedy will likely take months to establish. While much of the international focus has been on U.S. planemaker Boeing and its 737 […]

EU states set to scrap digital tax plan, to work for global reform

Chris IkosaMarch 6, 2019

European Union finance ministers are set to ditch a plan to introduce an EU-wide digital tax next week but agree to work on a global reform of the taxation of internet companies, an EU document shows. The move is likely to be welcomed by digital giants like Alphabet Inc’s Google and Facebook who would have […]

FG offers fresh bonds for March

March 5, 2019

The federal government has offered for subscription two-year and three-year savings bonds at 11.62 per cent and 12.62 per cent per annum, the Debt Management Office (DMO) has said. According to the offer circular obtained from the DMO website on Monday, the two-year bond will be due in March, 2021 while the three-year bond will […]

Nigerian insurers attract stable rating despite rising operating costs, claims expense

Adesola AfolabiFebruary 20, 2019

Confidence in the underwriting capacity of insurance companies operating in Nigeria has started attracting a boost from credit ratings agencies, affirming clients of the insurance firm’s stability, in the wake of stringent regulatory stance and anticipated capital enhancements. Although the industry continues to be plagued with pressure points such as rising claims expenses, high underwriting […]

Ellah Lakes makes full, final settlement of N589.5m debt

Adesola AfolabiJanuary 31, 2019

The management and board of directors of Ellah Lakes Plc, a listed company which specialises in fish farming, has announced the approval of a full and final settlement of a N589.5 million debt owed to J.W Ellah Sons & Company Limited. The announcement was made via the Nigerian Stock Exchange (NSE) in a regulatory filing […]

Merkel calls for global cooperation to reach ‘win-win outcomes

January 23, 2019

German Chancellor Angela Merkel delivered a robust defense of the post-war multilateral order on Wednesday, lauding compromise as a virtue in international relations in a veiled criticism of U.S. President Donald Trump. In an address to global political and business leaders in Davos, Merkel urged Western powers to think beyond their narrow national interests and […]

Google to buy $550m stake in China’s JD.com

June 19, 2018

Google

Google, which has been increasing its presence in China in recent times, has intensified that push by agreeing to a strategic partnership with e-commerce firm JD.com, which will see Google purchase $550 million worth of shares in the Chinese firm. The deal, businessamlive learnt, is aimed at combining JD’s expertise in logistics and supply chain […]

Kellogg’s acquire $420 million stake in Nigeria’s Tolaram Africa Foods

Businessam StaffMay 4, 2018

Kellogg’s has exercised an option to acquire a stake in packaged food manufacturer Tolaram Africa Foods (TAF), a subsidiary of Tolaram Group, for $420 million, as the company seeks to expand its presence in the African market. Kellogg’s formed a joint venture agreement with Singapore-based Tolaram in 2015, which saw both companies take a 50% […]

La Liga, Big Cola Nigeria sign regional partnership deal

Businessam StaffApril 26, 2018

LaLiga, the men’s top professional association football division of the Spanish football league system and AJEAST Nigeria, makers of Big Cola, have signed a strategic regional partnership deal for an intensified engagement with the league’s fan base in the country. The strategic deal announced Thursday at a press conference in Lagos makes the multinational beverage company the […]