Oil Prices up as US Makes Progress in Debt Ceiling Deal

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

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 Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

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 Dipo Olowookere Some highly placed employees of Fidelity Bank Plc and Stanbic IBTC Holdings have been prohibited from trading the shares of the respective companies from Tuesday, December 1, 2020. Those affected include directors, senior management staff and their connected persons with vital information about the company, especially its financials. This is to prevent them from using their positions and access to information about the books to take trade decisions they would not have made if they were not in the same position. Last week, the board of Stanbic IBTC Holdings said it was starting its closed period from

By Adedapo Adesanya The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the federal government to allow the group alongside other private investors to take over the running of the country’s refineries. The call was made by Mr Danladi Pasali, the National Secretary of the association while reacting to the current realities surrounding the pump price of petrol. There have been widespread reports that petrol prices might increase considering the recent rally in global crude oil prices which returned to pre-pandemic levels. But with pump price currently at the N165 price mark, projections show that it may rise again

Few people are as busy as moms who need to accomplish more in a day than there seems to be time for. Being a busy mom makes it tough as a commitment to work and family becomes an impossible task that they have to take on. For them, it often feels like there’s never enough time to get all your things done.  There’s a never-ending to-do list with less time to finish. At times, busy moms feel overwhelmed and procrastinate as there are more and more things adding up to that list. This can be exhausting and can result in

By Modupe Gbadeyanka Shareholders of MTN Nigeria Communications Plc are gearing up for the payment of N2.95k interim dividend to them by the company. This was proposed by the board of the telco when the half year financial statements of the firm were released last month. The interim dividend was precisely declared on July 24, 2019 for the period ended June 30, 2019. In the notice released to the Nigerian Stock Exchange (NSE), MTN Nigeria had said the qualification date for the payment was Thursday, August 8, 2019, with payment date fixed for Friday, August 16, 2019. Another company paying

By Dipo Olowookere Shareholders of Omatek Ventures have been given the permission to begin trading shares of the company on the floor of the Nigerian Stock Exchange (NSE) again. They had been restricted from performing this since July 2017 because the company failed to file its outstanding financial statements with the exchange as required by the listing rules. Omatek was among the 17 firms suspended from trading on the exchange on Wednesday, July 5, 2017 because of this non-compliance with the rules, but after doing the needful, the embargo was lifted today, Tuesday, December 31, 2019. “We refer to our

By Adedapo Adesanya The House of Representatives has stepped down a motion to call on the federal government to halt the proposed ban on motorcycles across the nation. A member from Jigawa State, Mr Abubakar Yalleman, moved the motion on Tuesday during the plenary at the green chamber of the National Assembly in Abuja, the nation’s capital. He charged the House to urge the federal government to restrict the ban to local governments where banditry and terrorism were rife. The lawmaker believes a total ban will negatively affect the well-being and welfare of ordinary Nigerians if palliative measures are not

By Adedapo Adesanya  Oil prices rose on Monday after an attack on the Saudi Arabian oil production plant over the weekend shocked the global market and this could disrupt the global supply of crude for a while. As at yesterday night, Brent crude, the global benchmark was trading at $67.84 barrel, gaining $7.20 or 12.65 percent. As for the US oil futures, the West Texas Intermediate (WTI) Crude, it was gaining over $6 or 12.58 percent to trade at $61.75 per barrel. Earlier on Monday, the WTI Crude rose as high as 14.7 percent to $62.90 per barrel. Likewise, the