Business

Sir Richard Branson is not having a good crisis. When he looks across his business empire from his Necker Island retreat, he must feel like Napoleon after the battle of Liepzig – not routed altogether but dangerously…

U.S. President Donald Trump said on Monday that his administration was looking at the possibility of stopping incoming Saudi Arabian crude oil shipments to…

For the first time in the history of trading US crude, West Texas Intermediate, its benchmark, is trading in negative territory. As of 8:22pm on Monday, US WTI was trading at…

The US crude, also known as West Texas Intermediate, is currently trading in negative territory at $-2 per barrel. This is the lowest point ever. The last time prices dipped so low was in…

Guaranty Trust Bank, Africa’s foremost financial institution, has placed a hold on its loan repayment plan for all Small and Medium Enterprises (SMEs) that have obtained credit facilities from the bank. According to the biggest bank…

Nigeria may earn about $10.61bn from crude oil sales between May and December this year following latest decision by members and non-members of the Organisation of Petroleum Exporting…

NIRSAL Microfinance Bank (NMFB) has resolved that the business plans for the ₦50 billion Targeted Credit Facility as a stimulus package to support households and MSMEs is no longer…

Nigeria’s largest quoted company and Sub-Saharan Africa’s largest cement company, Dangote Cement Plc, on Tuesday completed the book building and allotment of its N100 billion debut bond…

The COVID-19  outbreak across the world has ground activities to a halt in various sectors with projections that the global economy will suffer a recession. The World Bank also projects that sub-Saharan Africa’s economy will slip…

Nigeria is set to peg its daily oil output at 1.412 Million barrels per day from the average 1.87mbd. The production cut will take effect from May-June 2019. Petroleum Minister,…

Top oil-producers agreed Sunday on “historic” output cuts in a bid to boost plummeting oil prices due to the new coronavirus crisis and a Russia-Saudi price war. OPEC producers dominated by…

•Investors net N150b gains • Turnover rises by 60% THE stock market has seen increased level of activities and considerable recovery as the market continues to operate unhindered in spite of the…

Nigeria expects at least $2.8 billion in additional revenue from expected gains in oil prices after OPEC+ members agreed to cut crude production. “This historic intervention when concluded will see…

Following the Organisations of Petroleum Export Countries virtual meeting today, Saudi Arabia and Russia have struck a deal on a deep output cut. Reuters stated that the cut amount to 10 million barrels per day (bpd) or 10% of global…

China’s Supreme Court has ruled in favour of basketball legend Michael Jordan in a long-running trademark dispute, ending an eight-year legal battle with a Chinese sportswear firm that illegally used…

Private investors are not eager to import the Premium Motor Spirit (PMS) despite the decline of the products following the fall of crude oil in the international market, The Nation learnt on Wednesday.…

Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus…

The Nigerian Government has revoked Oil Mining Licences (OML) of 11 oil and gas companies operating in the Marginal Fields. The Guardian learnt that the affected companies include…

The Federal Government will be sourcing for over ₦2.67trillion to fully execute the COVID- 19 stimulus. This is aside the ₦500 billion already earmarked for the stimulus package.…

The Government has put created a framework for the collection, management and reporting of COVID-19 donations. According to the Minister of Finance, Budget and National Planning Zainab Ahmed, the…

Dangote Cement Plc, Africa’s leading cement manufacturer, is seeking to raise up to N100 billion in fresh funds from the bond market, under its NGN300 billion Debt Issuance Programme. …

OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for…

This year’s Forbes list of top-earning wrestlers has been released and surprisingly, Brock Lesnar sits atop the list with Roman Reigns coming second. The ten wrestlers who made the list pulled in a combined $38.5 million before taxes…

Juventus talisman Cristiano Ronaldo will become the third sportsman in the world after golf star Tiger Woods and boxer Floyd Mayweather Jr to have earned $1bn during his career. The Old Lady announced a…