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Markets are tumbling around the world — Indonesia crashes again
Now this is an ugly day. And we’ll get right to the big story: Indonesia. The Jakarta market has been getting absolutely wrecked. For the second day in a row it has fallen more than 5%, as it’s the...
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Nigerian Navy recovers hijacked oil vessel, kills 12 pirates
The Central Naval Command of the Nigerian Navy today confirmed the killing of 12 suspected pirates during a rescue operation for a hijacked oil vessel. The action took place on the Forcados axis of the...
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Lending: CBN simplifies collateral requirements for SMEs
The Central Bank of Nigeria has unveiled plans to simplify the collateral requirement for lending to Micro, Small Medium-Scale Enterprises. This move, according to the Director, Development Finance...
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China bans more New Zealand dairy products on new contamination scare
More New Zealand milk products sold to China have been banned after elevated levels of nitrates were found, raising further concerns over quality and testing in the world’s largest dairy exporter in...
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Governor Ahmed urges higher institutions to refocus on entrepreneurship skill
By Olarotimi Oshin The Kwara State Governor, Doctor Abdulfatah Ahmed has urged Provosts and Rectors of all colleges and Polytechnic to refocus attention on quality education and business skills in...
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Nigeria trade hub portal will facilitate 48-hour cargo clearance: Okonjo-Iweala
The coordinating minister of the economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala has disclosed that the new Trade Hub Portal designed by the Nigeria Customs Service (NCS) will greatly reduce...
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GTBank announces 2013 half year audited results, reports profit before tax of...
Mr. Segun Agbaje, the Managing Director/CEO of Guaranty Trust Bank plc Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2013 to the Nigerian and...
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MasterCard to issue National ID cards before December
In line with its agreement with the National Identity Management Commission (NIMC), MasterCard incorporated Tuesday disclosed that it would commence the pilot phase of the rollout of 13 million...
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Banking industry recorded N18bn fraud in 2012 –NDIC
The banking sector recorded 3,380 fraud cases involving the sum of N17.97bn in the 2012 fiscal year. This information was contained in the annual reports and accounts of the Nigeria Deposit Insurance...
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Greece could ask for bail-out number three: German finance minister warns...
German Finance Minister Wolfgang Schaeuble said Greece’s £205billion will not be enough Debt-riddled Greece will need a third bailout as the crisis in the eurozone rumbles on, German’s finance...
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Labour Union demands 15% employee contribution in pension amendment
Nigeria Labour Congress President The Vice President, Nigeria Labour Congress, Isa Aremu, has said that the group is demanding a total contribution of 15% from employers, towards employees’ pension...
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Virgin Atlantic begins new flight campaign in Nigeria
The United Kingdom mega carrier, Virgin Atlantic Airways, has unveiled a new flight campaign programme in Nigeria. The campaign, titled, ‘Flying in the Face of Ordinary’, according to a statement from...
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Ecobank Nigeria launches micro-finance unit
Ecobank Nigeria says it has set up a microfinance department to support small business owners in Nigeria. These group of people constitute the unstructured market and are small entrepreneurs whose...
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‘Import of inferior products stifling local businesses’
West African Ceramic Company logo General Manager of the West African Ceramic Company Bhaskar Rao has said highcost of production and importation of inferior products from abroad as one of the...
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Inadequate cash flow hinders projects completion in Ekiti
Ekiti State Commissioner for Works, Mr. Sola Adebayo, yesterday said inadequate cash flow is hindering completion of on-going projects in the state. He described non-payment of taxes by residents as...
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First International flight lands in Akanu Ibiam airport, Enugu
The First International Flight yesterday landed at the Akanu Ibiam International Airport, Enugu, four days to the official landing of International commercial Flights. The first flight, which flew into...
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Shoprite ramps up African expansion with 47 shops
Shoprite, Africa’s biggest grocer, is ramping up its expansion across the continent with 47 new supermarkets as its core South African consumer base grapples with high personal debt levels and growing...
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NRC begins container haulage, acquires new trains
After decades of comatose, the railway infrastructure in Apapa Port is back to life, as the Nigeria Railway Corporation will on Friday begin haulage of containerised cargoes from the Apapa Port to the...
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‘BlackBerry crumble’ as Mideast retailers report lower sales
BlackBerry sales have declined in several key markets as consumers ditch the once-iconic brand in favor of handsets made by rival Samsung, Middle East retailers say. One large UAE-based electronics...
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Libya to resume oil exports from brega as protests ease
Libya said it will resume oil exports from Brega, one of four ports where it declared force majeure this week, as protests that shut the facilities since end-July eased. Brega may add some 90,000...
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