Category: Business

NSE market indices up by 0.05%

Business Channels

The nation’s bourse recorded marginal growth on Thursday after two consecutive days downward trading with the market indices appreciating by 0.05 per cent. Specifically, the All-Share Index rose by 12.79 points or 0.05 per cent to close at 27,424.92 against 27,412.13 achieved on Wednesday due to MTN Nigeria Communications gain. Also, the market capitalisation, which opened at N13.358 trillion, increased by six billion naira to close at N13.364 trillion. A breakdown of the price movement chart indicates that MTN Nigeria led the gainers’ table, appreciating by N4.20 to close at…

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SA engages German business

Business Channels

(Pretoria) – Trade and Industry Minister Ebrahim Patel has held engagements with German companies based in South Africa. German Ambassador to South Africa, Dr Martin Schäfer, hosted the Minister in Pretoria on Wednesday in a session that allowed the Minister to engage German business people as well as representatives of the German-Southern African Chamber of Commerce and Industry. The engagement focused on the economic ties between Germany and South Africa, and the opportunities to work together in fostering deeper, more inclusive growth. “Our economic and cultural relationship with Germany is…

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Oil rises for 5th session as stockpiles fall

Business Channels

(NEW YORK) – Oil prices rose for a fifth day on Wednesday, supported by a drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time since the financial crisis more than a decade ago. Brent crude futures LCOc1, the international benchmark for oil prices, were up 40 cents, or 0.6 per cent, at $65.12 a barrel by 0842 GMT. U.S. West Texas Intermediate crude CLc1 gained 20 cents, or 0.3 per cent, to $58.25 a barrel. Central bankers in the…

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United States to discuss more on trade with China

Diplomatic Channels

(SHANGHAI) – American and Chinese negotiators agreed to meet again in the United States in September after holding “frank” and “constructive” talks in Shanghai on Wednesday, state media said following meetings overshadowed by a Twitter tirade from President Donald Trump. US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer met with Vice Premier Liu He in the Chinese financial hub for the first face-to-face negotiations since a trade war truce was declared last month. “The two sides conducted frank, highly efficient and constructive in-depth exchanges on major issues of…

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Airtel Africa to list simultaneously on NSE, LSE

Business Channels

Airtel Africa Ltd, a unit of India’s Bharti Airtel Ltd, says it intends to list its shares on the Nigerian Stock Exchange (NSE) at the same time as the London Stock Exchange (LSE). The company said on Monday that although the listing on the NSE was on, it had set a price range of 80 to 100 pence per share for its planned Initial Public Offering (IPO) on the LSE. The company said that conditional dealings in its shares were expected to begin on or around June 28 and the…

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