PZ Cussons Shareholders Wealth Swells 21.11% in Five Days

By Adedapo Adesanya  Nigeria’s economy, measured through its gross domestic product (GDP), witnessed a 2.54 per cent growth in the third quarter (Q3) of the year 2023. In a report published on Friday by the National Bureau of Statistics (NBS), the 2.54 per cent year-on-year growth in real terms in the third quarter of 2023 is higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

By Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

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 Naira closed at the parallel market segment of the foreign exchange market on Friday, November 29, 2019 depreciating against the European currency, the Euro. During the session, the local currency lost N2 against the Euro to close at N397/€1 against N395/€1 it quoted on Thursday. At the mid-week session, the Naira had gained N1 against the shared currency for the first time in weeks, but ended the week to trade at N397 on Friday. However, the Naira/US Dollar remained unchanged as the local currency traded at N360/$1. The Nigerian currency also traded flat against the British

By Modupe Gbadeyanka Hundreds of Egyptian entrepreneurs gathered yesterday in Sohag to participate in a summit hosted by Markade LLC, the U.S. Agency for International Development (USAID), and the Ministry of Trade and Industry. Through workshops, panel discussions, and success stories from the local community, the event raised awareness on the need for more entrepreneurship in Upper Egypt. It also discussed ways to build the capacity of Sohag’s youth to become successful entrepreneurs. This summit in Sohag was the second in a series of three joint U.S.-Egypt public events in Upper Egypt aimed towards linking potential future entrepreneurs with successful

By Adedapo Adesanya The unlisted securities market further extended its losses on Wednesday after Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing System (CSCS) Plc battered the exchange by 0.22 per cent. NDEP depreciated by N18.00 or 9.05 per cent to N181.00 per unit from N199.00 per unit, while CSCS Plc went down by 51 kobo or 3.41 per cent to N14.44 per unit from N14.95 per unit. In the midst of the bearish sentiment, the NASD over-the-counter (OTC) Securities Exchange recorded two price gainers and the were NASD Plc and FrieslandCampina WAMCO. While the former gained

By Dipo Olowookere In order to ensure its clients and investors in the Nigerian capital market enjoy better services and value for their money, the management of Capital Bancorp Plc has come up with five new strategic innovations. The new key initiatives are Upgraded Bancorp E-Trade, Online Account Opening, Bancorp Mobile, Live Chart, and Self Service Desk. At the unveiling ceremony held in Lagos on Tuesday, the investment firm said these five products would be use to retain its existing customers and gain more. Head of Stockbroking at Capital Bancorp, Mrs Ayoola Opeyemi, explained that technology drives the entire global

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the second trading week of the year on a positive note, rising by 0.68 per cent at the close of transactions on Monday, January 10. This stemmed from the positive price movement in one of the market bellwethers, Central Securities Clearing Systems (CSCS) Plc, which recorded a price growth of 4.8 per cent or 95 kobo to close at N20.00 per unit in contrast to N19.05 per unit it finished last Friday. The performance of CSCS overpowered the loss posted by FrieslandCampina WAMCO Nigeria Plc. The share price of the

By Adedapo Adesanya The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said President Muhammadu Buhari will unveil the newly designed N1,000, N500, and N200 notes on Wednesday, November 23, 2022. Mr Emefiele made this known during the apex bank’s last Monetary Policy Committee (MPC) meeting for the year in Abuja on Tuesday. According to him, the CBN won’t shift its deadline for all old notes to be returned to commercial banks in exchange for the redesigned banknotes. Mr Emefiele had on October 26, 2022, said the apex bank would issue redesigned N200, N500, and N1,000

By Modupe Gbadeyanka Global premier mobile phone brand, Tecno Mobile, has launched a new dawn into the smartphone ecosystem with the release of a new camera-centric smartphone series, SPARK 3 and SPARK 3 Pro, so as to “light up” users’ photos. The new series were upgraded by AI technology to furthermore advanced the camera features. The SPARK 3 is the third instalment from the SPARK series, and as expected, the device embodies the impeccability of the smartphone brand while offering a sweet price but delivers optimum value. Stephen HA, Managing Director and GM of Tecno Mobile said, “We are proud

By Modupe Gbadeyanka A subsidiary of Nigerian National Petroleum Corporation (NNPC), the National Engineering and Technical Company Limited (NETCO), has recorded a profit before tax of N3.257 billion for 2017 financial year. This showed a decreased by 34 percent in the year under review when compared with N4.90 billion of the previous years. The drop, according to the NETCO Board Chairman, who is also NNPC Chief Operating Officer, Upstream, Mr Bello Rabiu, was attributable to the foreign exchange gains which constituted 56 percent before tax in 2016 as compared to 4.8 percent gain in 2017. A breakdown of the firm’s