Asian Stocks Jump on Hopes of US-China Trade War Truce

By Adedapo Adesanya Brent crude benchmark dipped below $80 a barrel on Monday, precisely losing 60 cents of 0.7 per cent to trade at $79.98 a barrel as investors await this week’s meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). The group is anticipated to maintain its ceiling on crude oil production by member countries into 2024. This affected the oil market, with the West Texas Intermediate (WTI) crude futures declining yesterday by 68 cents or 0.9 per cent to trade at $74.86 per barrel. Last week, the 23-man OPEC+ postponed its Sunday ministerial meeting

By Aduragbemi Omiyale The sum of N75 million has been disbursed to 15 small and medium-sized businesses (SMBs) in Nigeria to support their expansion drive. The funding package was given by Google’s Hustle Academy, with beneficiaries drawn from various industries, including agriculture, and fashion, among others. The 15 Nigerian small business owners were among the 5,300 entrepreneurs who graduated from the academy, designed by the tech giant to provide an avenue for participants to enhance their business skills and knowledge, and contribute to the growth of the continent’s economy. The recipients of the funding support are Ifeoma Augusta Anselem of

By Adedapo Adesanya The federal government has set plans in motion to raise $200 million from philanthropic individuals and organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Nigeria is home to over 36.9 million MSMEs, comprising 96.7 per cent of all businesses in Nigeria. According to data, 67 per cent of these businesses are youth-owned. MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP), with 98.8 per cent of them in the micro cadre. They account for nearly 90 per cent of the jobs in the

By Jerome-Mario Chijioke Utomi I read with much relief two expositions on the electricity crisis in Nigeria and I must confess that any interested observers of the critical appraisal of the issue will agree that those submissions were factual and patriotically expressed. While the first came from a reader who reacted to my initial intervention Still on Nigeria’s Electricity Crisis, the other and very revealing submission came from the government quarters, the Delta State Commissioner for Energy, Engr. Jonathan Ukodhiko. Beginning with the first, it reads; the manifest failure of the poorly executed power sector privatization by the discredited Jonathan

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week in positive territory on Monday, May 8, as it appreciated by 0.70 per cent, driven by the upward price movements in the shares of three companies on the platform. Central Securities Clearing System (CSCS) Plc gained N1.30 to move up to N14.50 per unit from N13.20 per unit, UBN Property Plc added 8 Kobo to its value to close at 94 Kobo per share versus 86 Kobo per share, while Afriland Properties Plc rose by 5 Kobo to close at N2.35 per share compared with last Friday’s N2.30

By Adedapo Adesanya Tech and mobile accessories company, Oraimo, has launched the latest 2Baba Freepods phrased after the legendary Nigerian musician, Mr Innocent 2Baba Idibia, who is also an Oraimo brand ambassador. The momentous launch, although an online event, gathered colossal praises and applauds from the fascinated audiences across Nigeria. Surmounting all odds effortlessly, Oraimo announced that 4,000 of the new Freepods that were engineered for ultimate control were sold in just five days after the launch, granting many people the access and predilection to true wireless freedom. The massive event was anchored by famous MTV on-air personality, Ehiz, and

By Benita Ayo It is to be expected in every human relations for conflict to arise. By its nature, the relationship between an employer and the employee is contractual and thus, any breach of the terms of contract is treated as a fundamental breach to which the aggrieved party will be entitled to damages. The relationship between the employer and the employee is often governed by the contract existing between them stating various terms relating to the relationship. Termination versus Dismissal: Differences in Between While termination is bringing to an end to something, dismissal is the act of ordering or

By Adedapo Adesanya The federal government, through the Ministry of Communications and Digital Economy, has inaugurated the implementation steering committee of the Nigerian Broadband Plan (NBP) 2020-2025, which is to ensure wider broadband penetration in the country. The Minister of Communications and Digital Economy, Dr Isa Ibrahim Pantami, who inaugurated the committee in Abuja, noted that the panel is expected to monitor the implementation of the Nigerian National Broadband Plan (2020-2025) which was unveiled and launched by President Muhammadu Buhari on March 19, 2019. According to Mr Pantami, the new broadband plan is designed to deliver data download speeds across

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) but weakened at the Investors and Exporters (I&E) and the parallel market windows of the foreign exchange (FX) market on Friday, April 28. In the P2P wing of the market, currency traders exchanged the Naira to the Dollar at N749/$1 during the session versus N750/$1 a day earlier, indicating that the local currency appreciated by N1 in 24 hours. But it was a different story in the black market, where the domestic currency depreciated against its American colleague by N2 to sell at N739/$1 compared with

By Modupe Gbadeyanka Momentum is already gathering for the forthcoming 2023 Ikeja Golf Club Championship taking place between November 20 and November 26. No fewer than 200 golfers are expected to take part in the prestigious event, which brings together players from across the country. Speaking during a press conference ahead of the event, the club captain, Mr Sina Akinyemi, said this year’s edition coincides with the organisation’s 55th anniversary. “The Ikeja Golf Club is at the heart of the city of Lagos. We are set to host our annual pinnacle event, the Golf Club Championship, between November 20 and

By Dipo Olowookere The minimum operating capital of insurance companies operating in Nigeria has again come to the fore following an announcement made yesterday by the industry’s regulator, the National Insurance Commission (NAICOM). The regulatory agency said it was raising the minimum paid-up share capital of insurance and reinsurance firms so as to make the sector stronger and better. In a circular to all insurance and reinsurance companies signed by NAICOM’s Director, Policy and Regulation Directorate, Mr Pius Agboola, on behalf of the Commissioner for Insurance, Mr Mohammed Kari, it was said that the new capital regime would take effect