Amazon’s Q3 earnings report ignites cloud computing war as it set to best Microsoft, Google
Businessam Staff
October 27, 2017
When Amazon, Microsoft and Google, the three major players in the cloud computing market, released their quarterly earnings on Thursday, they did more than give onlookers an update on their particular businesses. The companies indeed provided a glimpse of the state of affairs in that ongoing battle reports Business Insider. Though it is hard to […]
Nigerian equities trade lower on profit taking, benchmark index down 0.29%
Businessam StaffOctober 26, 2017
The positive trend in the equities market reversed Thursday as the all-share index declined 0.29 percent to close at 36,517.48 points majorly on profit taking in some major caps. Thus the bourse’s year-to-date gain moderated to 35.9 percent. Market performance was influenced largely by profit taking in NIGERIAN BREWERIES (-3.7%), INTBREW (-5.0%) and GUARANTY (-0.7%). […]
World economies seen losing more than $6 trillion annually to cybercrime by 2021
Businessam StaffOctober 26, 2017
The global community may lose up to $6 trillion annually to cybercrime by 2021, according to F. John Bray, consul general of the United States in its opening remarks at the 14th National Cyber-security Awareness Month in Lagos Tuesday. Bray said billions of dollars are lost through cybercrimes globally every year, and that with the […]
Saudi Arabia backs OPEC cuts extension beyond March 2018 for market stability
Businessam StaffOctober 26, 2017
Mohammed bin Salman, the crown prince of Saudi Arabian backed the extension of OPEC production cuts beyond March 2018, making it all but certain the cartel and its allies will rollover the curbs at a meeting next month. In an interview with with Bloomberg News, the prince, who’s become the kingdom’s dominant political force, said that […]
Nigeria’s gas flare rate worsens in August to 12% despite clean development projects by NNPC
Businessam StaffOctober 26, 2017
Gas flare rate in Nigeria’s petroleum industry worsened in August to stand at 12 percent, up 1.97 basis points from 10.03 percent in July, according to the Nigerian National Petroleum Corporation (NNPC) Monthly Financial and Operations Report for August. The monthly report specifically put the amount of gas flared at 919.73mmscfd in August 2017, just […]
Airlines to start asking passengers security questions before boarding U.S-bound flights
Businessam StaffOctober 25, 2017
As part of new security measures being put in place by the United States, airlines would soon start asking passengers security questions before boarding U.S-bound flights A U.S. government spokeswoman says new security measures on incoming flights to America from abroad “may include” enhancing passenger screening, heightened screening of electronics and increasing security measures and […]
Gains in UBA, Seplat, Zenith buoy Nigerian equities market as index expands 0.25%
Businessam StaffOctober 25, 2017
Nigerian stocks benchmark index expanded 0.25 percent Wednesday to settle at 36,622.85 points, chiefly buoyed by gains in UBA (+3.3%), ZENITH (+1.2%) and SEPLAT (+2.1%), thus sustaining the positive performance recorded previously. Consequently, market capitalization grew by N100.3 billion to N12.7 trillion, just as activity levels improved with volume and value traded surging 66.6 percent […]
Diesel price in Nigeria at $0.54 per litre below $0.96 global average – data
Foster ObiOctober 25, 2017
The average price of diesel at $0.54 (about N200) per litre in Nigeria remains relatively cheap compared to $0.96 average price of diesel in the world, according to GlobalPetrolPrices.com data seen by businessalive Wednesday. Data compiled by GlobalPetrolPrices.com, an online data company tracking energy prices in over 150 countries on a weekly basis, indicate that […]
Oando issues official refuter to SEC’s allegations, challenges suspension of shares
Businessam StaffOctober 25, 2017
Although Oando Plc has obtained an ex-parte order from the Federal High Court restraining the Nigerian Stock Exchange from implementing a technical suspension of its shares, the company has come out with an official refuter of all the allegations leveled against it by the Securities and Exchange Commission (SEC). The company in a statement late […]
Coca-Cola bet on Sprite, non-soda drinks in the U.S to report better than expected Q3 profit
Businessam StaffOctober 25, 2017
Coca-Cola Co reported better than expected profit and revenue for the third quarter as North America sales rose three percent on higher demand for Sprite, tea and coffee. The company said it was gaining market share against rivals, echoing sector analysts’ views ahead of the results that it was eating into the sales of arch-rival […]