Asian Stocks End Mixed as Fears of Global Trade War Thicken

By Aduragbemi Omiyale A workshop designed to educate investors, especially those in the retail end of the curve, on how they can improve corporate governance has been organised by the Nigerian Exchange Regulation (NGX RegCo) Limited. The two-day event, which took place on Thursday, November 23, and Friday, November 24, 2023, was themed Rights and Responsibilities of Shareholders in Driving Corporate Governance. According to the NGX RegCo, the seminar was designed to promote a transparent and fair market, with participants agreeing that all hands must be on deck to sanitize the market and bring the boards and management of listed

By Dipo Olowookere Local equities rebounded by 0.34 per cent on Wednesday on the back of buying pressure on a few energy stocks and others at the Nigerian Exchange (NGX) Limited. According to data from the bourse, the bullish stance was attained despite profit-taking activities in the banking space amid plans by the Central Bank of Nigeria (CBN) to recapitalise the industry, leaving the market breadth index negative. This was because the number of price losers was more than the price gainers at 39 and 19 apiece, indicating a weak investor sentiment. Business Post reports that the energy counter grew

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

By Dipo Olowookere The United Nations World Food Programme (WFP) has welcomed senior UK officials to a new cash assistance programme in Nyala’s Otash Camp in South Darfur. The programme, funded by UK aid from the government of the United Kingdom, is currently providing unrestricted cash assistance to 75,000 displaced people, offering them choice and freedom to prioritize their needs. The UK officials saw first-hand how vulnerable people in Otash Camp receive cash assistance from selected retailers using prepaid cards swiped against a Point of Service (POS) device. Head of the British Diplomatic Service Simon McDonald, and Department for International

By Adedapo Adesanya Oil prices rallied more than 7 per cent on Monday amid consultations by the European Union (EU) about potentially joining the United States in banning imports of Russian crude. Brent crude jumped 7.83 per cent or $8.45 to sell at $116.4 per barrel while the US West Texas Intermediate (WTI) moved up by 7.27 per cent or $7.61 to trade at $112.30 per barrel. The EU may impose an oil embargo on Russia over its invasion of Ukraine. Governments of the bloc will gather this week with US President Joe Biden for a series of summits designed

By Jerome-Mario-Chijioke Utomi If there is any action in recent weeks that glaringly confirm as true the words of Alabo Nengi, 2nd National Vice President, Ijaw National Congress (INC), that the Presidential Amnesty Program (PAP) is failing in its responsibilities because it was executed with militarization, rather than with civilization, it is the widely circulated statement signed by Mr Freston Akpor, Special Assistant on Media to the Interim Coordinator of PAP, Major-General Barry Ndiomu (Retd), announcing the suspension of two amnesty scholarship beneficiaries identified as Patrick Ipidei and Papems Peter Etolor. The referenced statement said in part, “The Presidential Amnesty

By Modupe Gbadeyanka The Academic Staff Union of Universities (ASUU) has denied threatening to embark on a warning strike on October 2, 2016. Speaking on TVC Breakfast programme on Wednesday, Chairman of ASUU, UNILAG chapter, Dr Adelaja Odukoya, said there was no iota of truth in reports in the media that the union was gearing up for another round of strike action. Dr Odukoya, during the programme monitored in Lagos by Business Post, described ASUU as a responsible body that is very sensitive to happenings in the country. “I keep hearing you (presenter) say ASUU is going on strike on

By Modupe Gbadeyanka The federal government has been directed to pay the sum of N1.56 billion accrued to a local oil company, Obat Oil Petroleum Limited, as subsidy for importing petroleum products into the country, to Sterling Bank Plc. This directive was given by Justice Nicholas Oweibo of the Federal High Court in Lagos, who said the amount should be paid to the bank through the Federal Ministry of Finance and Debt Management Office (DMO). Justice Oweibo gave this order while ruling in a mareva order application to preserve the monies and other financial instruments as subsidy payment, due to

By Adedapo Adesanya The Rivers State Government has declared 19 persons wanted for operating illegal crude oil refining sites allegedly responsible for the carcinogenic hydrocarbon soot prevalent in the state. The state’s governor, Mr Nyesom Wike, in a statewide broadcast on Sunday reiterated the government’s resolve to tackle the soot pandemic by destroying and closing down operations of all identified illegal refinery operators in the state. He also directed the Rivers State Head of Service to query one Mr Temple Amakiri, a Director in the Ministry of Energy, for abetting bunkering activities and hand him over to the police for

Kaspersky Lab has announced the availability of the new version of its flagship security solution, Kaspersky Internet Security, multi-device in Nigeria, which provides users with additional opportunities to manage their internet protection and to ensure the safety of their data. Kaspersky Internet Security – multi-device 2017 is a security solution for the whole family; that protects Windows, Mac, and Android users against malware, dangerous sites, online tracking, fraud and money theft. This year, Kaspersky Lab products for Windows have integrated several new functions. Now, users can protect their data from being intercepted during an unsafe internet connection with the help

The major U.S. index futures are pointing to a roughly flat opening on Tuesday, as traders look ahead to Federal Reserve Chair Janet Yellen’s semiannual monetary policy testimony before the Senate Banking Committee. Yellen’s remarks are likely to be closely watched for any clues regarding the outlook for the next interest rate hike by the Fed. Stocks moved mostly higher during trading on Monday, extending the uptrend trend seen over the past several sessions. With the upward move on the day, the major averages once again climbed to new record closing highs. The major averages ended the day firmly in