Nigerian Stocks Recover from Early Losses to Close 0.22% Higher

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

By Adedapo Adesanya The cryptocurrency market witnessed an uptick on Wednesday, with Bitcoin (BTC) managing to stay above the $26,000 level even as the US Dollar index rose to a new year-to-date high. Data obtained by Business Post showed that the most valued crypto, BTC, posted a 0.7 per cent appreciation during the midweek session to trade at $26,408.37 in the last 24 hours. On the part of the second-most valued digital coin, Ethereum (ETH), it remained in the $1,600 mark and it improved its value yesterday by 1.6 per cent to sell at $1,610.94. At the trading session, the US

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Dipo Olowookere Profit-taking persisted at the Nigerian Exchange (NGX) Limited on Thursday, with Customs Street going down by 0.31 per cent on its return from a midweek break. The market closed its doors to traders on Wednesday due to the public holiday declared by the federal government to mark Eid-el Maulud, the birthday of Prophet Mohammed. Business Post reports that market participants did not take their minds off the pressing issues affecting the Nigerian economy, especially rising inflation, energy costs and the foreign exchange (FX) crisis. As a result, they liquidated their shares, leading to a negative market breadth

By Investors Hub The major US index futures are pointing to a higher opening on Monday, with stocks poised to extend the upward trend seen in recent sessions. The markets may continue to benefit from recent upward momentum, which has propelled the major averages to record highs. Trading activity may be somewhat subdued, however, with traders reluctant to make significant moves ahead of the key earnings news later this week. Traders are also digesting remarks by Federal Reserve Chair Janet Yellen, who spoke at the Group of 30 International Banking Seminar on Sunday. Despite subdued inflation, Yellen reiterated her belief

By Dipo Olowookere The Nigerian Stock Exchange (NSE) reversed the gains recorded on Monday to close bearish on Tuesday after shedding 0.08 percent to leave the year-to-date loss to 15.23 percent. However, the volume of shares transacted by investor at yesterday’s session increased by 189.29 percent from 120.8 million to 349.5 million, while the value rose by 9.43 percent from N1.3 billion to N1.5 billion. Business Post reports that despite the increase of trading activities on Tuesday, 21 stocks recorded price depreciation, while 20 stocks grew their values. It was not a pleasant day for Unilever Nigeria as its shares

By Modupe Gbadeyanka The 4th Ghana Oil and Gas Awards (GOGA) ceremony has been held once again to recognise achievements of individuals, local and international companies who have distinguished themselves in Ghana’s oil and gas sector. GOGA also rewarded those that have played significant roles in moving the industry forward. Speaking to Newsghana.com.gh, the Director of Xodus Communications Limited, organizers of the event, Richard Abbey Jnr, said the event, held at the Kempinski Gold Coast City Hotel in Accra on December 8, 2017, served as a “platform for the Oil and Gas industry to demonstrate and celebrate the advances made

By Modupe Gbadeyanka Heritage Bank Limited, Nigeria’s Most Innovative Banking Service Provider, has enhanced capacity of Ex-Housemates of Big Brother Naija reality TV show and other emerging 21st century entrepreneurs at an SME enhancement capacity training programme. Speaking at the breakfast meeting in Lagos yesterday, Mr Ejikeme Obiano, Head, Solutions and Propositions of Heritage Bank said the bank was committed to creating, preserving and transferring wealth as a timeless wealth partner to its customers. He said the bank sees each customer as unique and therefore designs solutions that are tailored to address each customer’s needs. Mr Obiano also said the

By Adedapo Adesanya Manchester City Football Club duo of Riyad Mahrez and Aymeric Laporte have tested positive for COVID-19 ahead of the English Premier League return this weekend. The club in a statement released on Monday said that both players are not displaying symptoms and are currently observing a period of self-isolation in accordance with Premier League and British government protocol on quarantine. “Manchester City FC can confirm that Riyad Mahrez and Aymeric Laporte have tested positive for Covid-19. “Both players are currently observing a period of self-isolation in accordance with Premier League and UK Government protocol on quarantine. Neither

By Dipo Olowookere The board of Omoluabi Mortgage Bank Plc has announced a change to its composition with the appointment of few individuals, though subject to the approval of the Central Bank of Nigeria (CBN). In a statement signed by the company secretary, Olabisi Fayombo, it was disclosed that the organisation has a new Managing Director and he is Mr Adewole Adekunle. Others appointed to the board were Mr Yemi Adefisan as a non-executive director, Mrs Feyintola Ibidunni Olatunde-Agbeja as an independent director, Mr Olufemi Adesina as a non-executive director, and Mr Oyewole Olowu as an executive director. The new

By Hyther Nizam The workplace today is vastly different than it was a few years ago. The pandemic has accelerated the adoption of digital technologies by businesses, both for their customers and employees. Today, the majority of businesses operate on a hybrid model, and as a result, internal collaboration—both digital and in-person, has become critical for business success. When it comes to creating an environment that supports online and offline employee collaboration, many businesses continue to fall short and work in restricted silos. In today’s age, companies need to think about implementing effective collaboration platforms that facilitate team communication regardless