CPC Clears Air on N17m Court Ruling Against Coca-Cola

By Dipo Olowookere The Nigerian Exchange (NGX) Limited retreated by 0.44 per cent on Tuesday due to selling pressure on some bellwether equities during the session. Shares of Dangote Cement, GTCO, Zenith Bank, Access Holdings, Oando, Lafarge Africa and others experienced a pullback yesterday as a result of profit-taking activities by traders. As a result, the All-Share Index (ASI) receded by 312.76 points to 71,041.05 points from 71,353.81 points and the market capitalisation moderated by N165 billion to N38.875 trillion from N39.040 trillion. The level of activity at the market waned on the second trading session of the week, as

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange fell into the danger zone on Tuesday, November 28, as it recorded a 1.14 per cent loss after the price of three securities on the platform closed lower. This chopped off N13.33 billion from the NASD OTC securities exchange at the close of transactions, going down to N1.158 trillion from the N1.171 trillion it ended in the previous session. Business Post reports that the effort of a price gainer yesterday could not save the NASD Unlisted Security Index (NSI) from declining by 9.84 points to 854.67 points from the 864.51 points

Welcome to the fascinating world of cryptocurrency wallets, where technology is always developing and innovating. Blockchain technology and cryptocurrencies have revolutionized how we see and utilize money over the last ten years. Cryptocurrency wallets have been crucial in this transition, giving consumers the means to safely access, control, and use their digital assets. Let’s explore the exciting developments and trends that are predicted to completely alter the landscape of crypto wallets as we look to the future. Key Takeaways The environment of cryptocurrency wallets is changing quickly as a result of new trends and technologies. Future crypto wallets will prioritize

By Adedapo Adesanya The prices of oil benchmarks jumped by 2 per cent on Tuesday on the fresh possibility that the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) will extend or deepen supply cuts. Data showed that Brent crude futures gained $1.70 or 2.1 per cent to close at $81.68 a barrel and the US West Texas Intermediate (WTI) crude increased by $1.55 or 2.1 per cent to $76.41 per barrel after a drop in Kazakh oil output and a weaker US Dollar. OPEC+ is due to hold an online ministerial meeting on Thursday to discuss 2024

By Kester Kenn Klomegah CHETRA is a Russian company that sells industrial equipment and spare parts under the brand CHETRA produced by the Promtractor plant, as well as supplies spare parts and components from the company. It uses a unique technique in the construction of production sites, seaports, development of natural resources and pipelines in 30 countries and in all climatic zones. The goal is to provide its partners and customers with modern high-performance equipment for successful projects, even in areas with complex climatic and geological backgrounds. More than 3,000 units of equipment under the brand CHETRA are now in

By Modupe Gbadeyanka On Thursday, July 15, 2021, several important personalities will converge virtually for the World Youth Skills Day Conference put together by WeForGood International in partnership with IHS Nigeria and the United Nations Information Centre (Lagos). A statement from the organisers said the event, which kicks off by 11:00 am, will require interested participants to register for free via https://bit.ly/SSAfrica_UNWYSD2021. In 2014, the United Nations General Assembly (UNGA) declared July 15 as World Youth Skills Day to celebrate the strategic importance of equipping young people with skills for employment, decent work and entrepreneurship. This year’s conference will also

By Dipo Olowookere **Exempts Stamp Duty on Same Owner Account Transfer Any bank transfer between two accounts owned by the same person or organisation will no longer be subjected to stamp duty, the federal government has said. Last month, President Muhammadu Buhari signed the Finance Act 2019, approving the review of stamp duty charged on financial transactions done by bank customers. Before it was signed, banks charged N50 on transactions above N1,000, but after it was signed, the amount became effective on payments more than N10,000. At the Udo Udoma and Belo Osagie Second Private Equity Summit: Fundraising and Deal

By Investors Hub The major U.S. index futures are pointing to a higher opening on Wednesday following the lackluster performance seen in the previous session. The upward momentum on Wall Street comes following the release of a report from the Labor Department showing consumer prices increased in line with economist estimates in the month of October. The relatively tame inflation data may offset some recent concerns about the Federal Reserve raising interest rates faster than currently anticipated. Trading activity may remain somewhat subdued, however, as lingering concerns about the global economic outlook may keep some traders on the sidelines. Remarks

By Adedapo Adesanya Oil prices fell on Wednesday, October 27 after industry data showed crude stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent crude oil fell by 2.67 per cent or $2.31 to trade at $84.09 per barrel after closing at the highest in seven years on Tuesday. The US West Texas Intermediate (WTI) futures depreciated by 2.35 per cent or $1.99 to $82.66 a barrel after gaining 1.1 per cent in the previous session. Crude oil prices retreated after the Energy Information Administration (EIA) reported

By Modupe Gbadeyanka Lagos State government has restated the need for an Environmental Impact Assessment (EIA) report for any proposed project in the state, stressing that the EIA is a decision making tool which provides decision makers with the necessary information to satisfactorily assess both the environmental and social effects of a planned project. Commissioner for the Environment in the state, Mr Babatunde Adejare, disclosed this at the Stakeholders’ Engagement on Environmental Impact Assessment for Dredging and Land Reclamation Projects in Lagos State, held at Ikorodu Local Government and Eti-Osa East Local Council Development Areas. According to him, Environmental Impact

By Dipo Olowookere Fitch Ratings has upgraded United Bank for Africa Plc’s (UBA) Long-Term Issuer Default Rating (IDR) to ‘B+’ from ‘B’ with a stable outlook, a statement from the firm has said. It was stated that UBA’s Viability Rating (VR) has also been upgraded to ‘b+’ from ‘b’, reflecting an improvement in the bank’s performance metrics and funding and liquidity profile, which the rating agency considers to be sustainable. According to the statement, UBA’s strong capital ratios, increasingly diversified funding base and well managed liquidity mean that its risk profile is now more closely aligned with those of Zenith

By Modupe Gbadeyanka Price of crude oil in the international market has moved up by 26 cents to hit $55.61 per barrel on Wednesday. This will definitely come as cheering news to the Nigeria government, which has pegged its benchmark at $42.50 per barrel for the 2017 budget. The price of the commodity has witnessed upward movements since members Organization of the Petroleum Exporting Countries (OPEC) agreed on a cut deal in November 2016 in Vienna. Nigeria is a member of the oil cabal and had heavily relied on the product for its main source of income until now it