May 6, 2021
  • May 6, 2021

Articles Posted by Editor

Amnesty criticizes Shell’s reporting of Nigerian oil spills

by on November 6, 2013 0

Amnesty International called into question Royal Dutch Shell’s accounting in Nigeria for oil spill amounts and causes, saying the oil major was seeking to avoid compensation payments and damage to its reputation.    The Anglo-Dutch oil major responded in a statement that it “firmly rejects unsubstantiated assertions that they have exaggerated the impact of crude […]

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BlackBerry calls off sale, will replace CEO

by on November 4, 2013 0

BlackBerry Ltd is abandoning a plan to sell itself and instead will replace its chief executive officer and raise about $1 billion from institutional investors, including its largest shareholder, the smartphone maker said on Monday.    Shares of BlackBerry dropped 16.3 percent to $6.50 in premarket trading. The company said it would raise the money […]

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South Africa investment law overhaul sparks concerns

by on November 4, 2013 0

A new South African investment law should come into force next year to replace a raft of individual, 20-year-old treaties but foreign investors are adequately protected and have nothing to fear, trade minister Rob Davies said on Monday. Zuma Pretoria let bilateral treaties agreed with European nations shortly before the end of apartheid lapse last […]

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nigeria’s GTBank returns for second dollar bond

by on November 4, 2013 0

Nigeria’s Guaranty Trust Bank (BB-/B+ by S&P/Fitch) is coming 25-40bp back of its outstanding bond, after announcing guidance on a new five-year US dollar-denominated benchmark bond. Agbaje The lender, Nigeria’s largest by market capitalisation, has set initial price thoughts of 6.25% area for its new bond, equivalent to around 476bp over mid-swaps. The illiquid nature […]

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Nigerian interbank rates flat, but seen rising on CRR

by on November 1, 2013 0

Nigerian interbank lending rates were unchanged at an average of 10.75 percent on Friday, but seen rising next week in anticipation of a cash withdrawal by the central bank for the Cash Reserves Requirement (CRR) debiting for October. Nigerian naira Traders said lending rates remained flat this week because of idle cash in the vaults […]

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Nigerian naira seen sustaining gains against US dollar

by on October 31, 2013 0

NIGERIA    The naira could extend its gains against the greenback next week on expected dollar sales by the state-owned energy company NNPC and some major oil firms. Nigerian currency    At 1059 GMT, the local currency was trading at 158.95 to the dollar on the interbank market, little changed from its 158.85 close last […]

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Sub-Saharan Africa to grow 6 pct next year – IMF

by on October 31, 2013 0

Sub-Saharan Africa’s economic growth is expected to increase to 6 percent in 2014, from 5 percent this year, supported by investment in infrastructure and production capacity, the International Monetary Fund (IMF) said on Thursday. Okonjo-Iweala, Nigeria finmin The IMF had predicted in May that the region would grow 5.7 percent this year and 6.1 percent […]

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Nigeria forex reserves fall 1.4 pct to $45.14 bln by oct. 24

by on October 31, 2013 0

Nigeria’s foreign exchange reserves  declined 1.4 percent month-on-month to $45.14 billion by Oct. 24, but were up 6.7 percent from the same period last year, central bank data showed on Thursday.      The foreign exchange reserves of Africa’s top crude exporter and second biggest economy stood at $45.78 billion a month earlier.   The […]

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ConocoPhillips expects $8.9 bln from oil asset sales

by on October 31, 2013 0

ConocoPhillips expects about $8.9 billion in proceeds from the sale of assets in Kazakhstan, Algeria and Nigeria and reported a better-than-expected quarterly profit due to higher oil and gas prices. ConocoPhillips’ office ConocoPhillips and other U.S. oil companies are selling assets abroad to cut exposure to political risk and conflict, focusing instead on the domestic […]

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AfDB plans $130 mln in local currency bonds in Nigeria, Zambia

by on October 31, 2013 0

The African Development Bank (AfDB) expects to issue a total of $130 million in local currency bonds in Nigeria and Zambia within the next few months, a senior bank official said on Thursday. The bank’s local currency issuances, first started in 1998, are aimed at building domestic capital markets across the continent and improving financial […]

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