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Business
Dangote Refinery has new rival in $20bn Chinese plant
Billed to be the world’s biggest single-refinery train at 650,000 barrels per day capacity (bpd), the Dangote Petroleum Refinery could meet Nigeria’s,…
Confusion over bid rounds for 57 oil fields
• DPR assures investors of fairness • N’ Delta demands right of first refusal About 57 marginal fields being auctioned by the Federal Government, may end up in the wrong hands or…
ZoomInfo founders become billionaires
ZoomInfo’s three-day stock surge has turned founders Henry Schuck and Kirk Brown into billionaires. According to Bloomberg, the business-intelligence company’s stock price…
Ghana plans to curb MTN’s market dominance
Ghana will implement a set of policies to reduce the dominance of MTN in the country’s telecommunications market, the government said in a statement. “The National Communications Authority (NCA)…
Foreign companies with revenue above N25m will pay tax – FG
Foreign companies operating in the country will be liable to tax if they derive an income of at N25 million or its equivalent in other currencies. The federal government has gazetted the provisions of the finance act that amended…
World shares advance on surprise U.S. job recovery, oil steadies
Global share prices edged higher on Monday after a surprise recovery in U.S. employment provided cause for optimism that global economies could quickly revive after many weeks of…
Oil prices rise as China’s imports hit all-time high
Oil prices climbed on Monday after OPEC+ agreed to extend a deal on record output cuts to the end of July and as China’s crude imports hit an all-time high in May.…
COVID-19: Nigeria Private jet operators lose over $5b – Official
Private Jets Nigeria (aviation service provider) has disclosed that the association had suffered $5 billion financial loss due to the outbreak of COVID-19 pandemic. Omotade Lepe, the…
Why Elon Musk called for Amazon’s dissolution
Tesla CEO Elon Musk called for Jeff Bezos’s retail giant Amazon to be broken up, after the latter refused to sell a book on its platform. Amazon tried to block a book about the…
Cristiano Ronaldo becomes first billionaire footballer
The Juventus and Portugal footballer has now beaten his arch-rival, Lionel Messi, in becoming the first billionaire footballer in the world. According to Forbes, the 35-year-old striker…
Kylie Jenner not billionaire but highest paid celeb – Forbes
American business magazine, Forbes has said that even though not a billionaire, Kylie Jenner is the highest-paid celebrity in the world. During the annual Forbes list, Kylie Jenner and her…
BUA gets govt’s nod to re-open $400m PH terminal
The Federal Government has given the nob to BUA Group to re-open its $400 million BUA Ports and Terminal in Port Harcourt, Rivers State. BUA Group said in a statement on Wednesday, that it…
Zoom records sales boom amid pandemic
Video conferencing app Zoom doubled its sales forecast for the year and posted considerable gains in total revenue and customers, it said in a quarterly report on Tuesday. The…
America ‘Underwear Bomber’, Farouk Mutallab’s father, Umaru Mutallab makes a killing with Jaiz…
•the Dantata, Indimi Connection… THE OCTOGENARIAN BANKER AND FORMER MINISTER UMARU MUTALLAB HAS MOVED INTO THE ISLAMIC FINANCE SECTOR ALONG WITH SENIOR COMMUNITY FIGURES AND MAGNATES FROM…
South African rand falls as risk appetite wanes on US protests, Sino-US tensions
The South African rand fell against the dollar in early trade on Tuesday, amid growing concerns over U.S.-China tensions and rising violent protests across the United States. At 0645 GMT, the rand traded at 17.4130 per dollar, 0.22%…
CBN mandates banks to resolve ATM dispense errors within 48 hours
The Central Bank of Nigeria (CBN) has introduced a new timeline within with banks must resolve complaints relating to automated teller machine (ATM) dispense errors and failed point of sale…
Lagos begins process to reopen economy
The Lagos State Safety Commission has said the Register-to-Open initiative of the state government will soon begin in preparation to reopen the economy. The Director General…
Dangote Group wins CNN commercial’s award
Dangote Group has won another award through its television commercial on the Cable Network News (CNN) detailing its business processes, days after emerging the most admired…
Nigeria’s manufacturers hold N420b of unsold products
The Manufacturers Association of Nigeria (MAN) has expressed concerns over its overall inventory of unsold products worth N420 billion for the first quarter of 2020. Its…
South African Airways administrators request further delay for rescue plan
Administrators at South African Airways have asked creditors to approve an extension until June 8 for the publication of a business rescue plan for the struggling state airline, a letter seen by Reuters said. The administrators…
Federer edges Ronaldo sports rich list
Roger Federer is the world’s highest-paid athlete, the first time a tennis player took the No. 1 spot in Forbes’ annual list of the 100 top earners since its inception in 1990. Federer, the…
FIRS Intends To Start Charging Nigerians For Whatsapp Messages
Nigeria's Federal Inland Revenue Service (FIRS) has revealed their intention to start charging Nigerians for receiving SMS and Whatsapp messages that acknowledges their transaction on…
JUST IN: Kylie Jenner crashes out of Forbes billionaires league
Cosmetics mogul, #KylieJenner has dropped out of the billionaires league, according to a report by Forbes. Forbes downgraded the youngest of the Kardashian-Jenner clan after it stumbled on the…
Seplat targets more acquisitions as shareholders get $59m dividends
Seplat Petroleum Development Company Plc remains a resilient business with strong balance sheet to acquire more oil and gas assets and ensure sustainable growths and returns to shareholders. At the annual general meeting in…