Saint-Gobain Buys Spin-Works International

By Kestér Kenn Klomegâh The World Bank has approved a $1 billion loan to support South Africa’s energy sector which is currently experiencing worse conditions including inadequate funds for overhauling, renovation and upgrading. Energy experts believe that the World Bank’s loan, which seems the last resort, would pull South Africa out of its persistent energy crisis that has adversely hit industrial production. The energy problem has forced the country to lean on its highly polluting coal-fired power stations and consistent difficulties of generating enough electricity for its 62 million people. The state-run power utility, Eskom, generates approximately 80% of the

By Kestér Kenn Klomegâh South Africa prepares to host the African Growth Opportunity Act (AGOA) forum to review critical challenges and obstacles adversely impacting trade opportunities and economic cooperation between the United States and Africa. The United States first introduced the African Growth and Opportunity Act (AGOA) in 2000. It is the 20th AGOA forum scheduled from November 2 to 4 in Johannesburg, South Africa. The AGOA Trade and Economic Cooperation Forum seeks to expand and deepen trade and investment relationships between the United States and Sub-Saharan Africa. It also encourages regional integration and further reaffirms Africa’s position as a

By Adedapo Adesanya Three scientists will share the Nobel Prize in Physics as the Royal Swedish Academy of Sciences recognised Pierre Agostini, Ferenc Krausz and Anne L’Huillier as this year’s recipients for experimental methods that generate attosecond pulses of light for the study of electron dynamics in matter. The three Nobel Laureates in Physics 2023 were recognised for their experiments, which have given humanity new tools for exploring the world of electrons inside atoms and molecules. BREAKING NEWSThe Royal Swedish Academy of Sciences has decided to award the 2023 #NobelPrize in Physics to Pierre Agostini, Ferenc Krausz and Anne L’Huillier

By Adedapo Adesanya A cross-border fintech company, Grey, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design as part of moves to expand its footprint in the global market. The company’s transformation was unveiled on its social media platforms on Monday, November 27, 2023, and follows closely on the heels of Grey celebrating a milestone achievement of surpassing 500,000 users. Grey, which was founded in mid-2020 by Mr Idorenyin Obong and Mr Femi Aghedo, aims to leverage this fresh identity to reach a broader audience and solidify its international presence. The updated brand

By Dipo Olowookere Yesterday, the Central Bank of Nigeria (CBN) carried out its second primary market auction (PMA) of treasury bills with the exercise recording an oversubscription by 105 percent. Much of the subscriptions came from the 364-day bill, with a total subscription worth N396.85 billion received from the N193 billion offered by the apex bank. However, at the close of the auctioning, the central bank allotted N193 billion worth of the 1-year instrument to investors at 13.79 percent, lower than the 14.3 percent it cleared at the last exercise held on January 3, 2018. Business Post reports that the

By Jerome-Mario Chijioke Utomi It is common knowledge that President Muhammadu Buhari during an exclusive interview with Channels Television said state police is not an option for the nation. “Find out the relationship between local government and the Governors. Are the third tiers of government getting what they are supposed to get constitutionally? Are they getting it? Let the people in the local government tell you the truth, the fight between local governments and the Governor,” he said. “The role of traditional rulers must not be undermined because in their areas they know who is who, even by families, not

By Dipo Olowookere Production is set to resume next month at the Dangote Tomatoes Processing Factory in Kadawa, Kura Local Government Area of Kano State. Managing Director of the firm, Mr Abdulkadir Kaita, informed journalists on Tuesday in Kano that “We expect that tomato farmers would have produced enough for the company to process, hence our decision to resume production in February.” He explained that, “We deliberately decided to resume production in February because we don’t want to create scarcity of the commodity. “We want to make sure that there is enough to process so that its price will not

By Adedapo Adesanya The Organisation of the Petroleum Exporting Countries (OPEC) has voted to appoint Kuwaiti candidate, Mr Haitham al-Ghais, as its new secretary-general. According to Reuters on Monday, this was confirmed by four sources from the group. The appointment of the new secretary-general to succeed Nigeria’s Mohammad Barkindo will become effective in July 2022. Mr al-Ghais, a former Kuwaiti governor to OPEC, had been expected to get the job as he enjoys wide support from member countries. He stepped down as Kuwait’s OPEC governor in June 2021 and was appointed deputy managing director of international marketing at state-owned Kuwait

By Adedapo Adesanya A few weeks after signing Executive Order Number 10 which grants financial autonomy state assemblies and judiciary, President Muhammadu Buhari has suspended the order. The Nigerian president made the suspension on Monday, following concerns raised by state governors. The order mandates the accountant-general of the federation to deduct from source amount due to state legislatures and judiciary from the monthly allocation to each state for states that refuse to grant such autonomy. The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, said in May, that the Executive Order No. 10 of 2020, made it

By Dipo Olowookere The board of Red Star Express Plc has recommended the payment of N324 million to shareholders of the company as a dividend for the financial year ended March 31, 2020. The cash reward, amounting to 35 kobo per unit, would be paid to those whose names appear in the register of members as at the close of business on September 18, 2020, a disclosure from the organisation stated. Thereafter, the register of shareholders will be closed from September 21 to 25, 2020, it added, noting that on October 15, 2020, the dividends will be paid electronically to

Since time immemorial, travelling has been an essential part of human existence. We journey miles to see loved ones, engage in business transactions, or most times, to see the world around us through our own lenses. Modern day technology has also done more good than harm in making every stage of the journey easier and more convenient. For instance, now you can reduce a 6-hour journey to just about 45 minutes with the help of an airplane. Air tickets can also be procured from just anywhere with the help of the internet. The stress of having to comb different locations

By Adedapo Adesanya There was a marginal rise during Tuesday’s trading session at the NASD Over-The-Counter (OTC) Securities Exchange as the market capitalization rose to 516.81 billion from Monday’s 516.76 billion, this spelled that the market gained N5 million equivalent to 0.1 percent. This was also extended to the NASD Security Index (NSI), which went up by 0.1 percent or 0.07 points to close at 719.35 points in contrast to yesterday’s 719.28 points. There was also a higher volume of transactions on the second trading day of the week as the volume of shares traded by investors at the platform