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Access Bank Takes Over Diamond Bank

Access Bank Takes Over Diamond Bank

Following the announcement of the acquisition of Diamond Bank Plc by Access Bank Plc yesterday investors have swooped on the shares of both banks pushing them to the top of the Nigerian Stock Exchange, NSE, top gainers and volume transaction chart at close of trading yesterday. Diamond Bank shares which had been on free fall […]

Zimbabwe Battling With Inflation, No Food, No Jobs

Zimbabwe Battling With Inflation, No Food, No Jobs

The country’s annual rate of inflation increased by 10,16 percentage points to 31,01 percent in November from 20,85 percent in October as speculative price increases took toll on the economy. Analysts, however, said the figures announced yesterday are still too far for the country to enter hyperinflation zone and indications are the inflation rate will […]

Shell Becomes First Energy Company To Link Executive Pay To Carbon Emissions

Shell Becomes First Energy Company To Link Executive Pay To Carbon Emissions

Royal Dutch Shell caved in to growing investor pressure over climate change on Monday, setting out plans to introduce industry-leading carbon emissions targets linked to executive pay. Rivals BP and Total have already set short-term targets on reducing carbon dioxide emissions, but these are limited to their own operations. Shell’s targets, which will be introduced in 2020, […]

Liquid Telecom to Invest 8 Billion EGP (U.S.$400 Million USD) In Egyptian Network Infrastructure and Data Centres

Liquid Telecom to Invest 8 Billion EGP (U.S.$400 Million USD) In Egyptian Network Infrastructure and Data Centres

Leading pan-African telecoms group Liquid Telecom has announced that it is investing 8 billion Egyptian Pounds ($400m US Dollars) in Egypt over the next three years. This is part of a major partnership with Telecom Egypt which includes network infrastructure and data centres. The investment announced today at the Africa 2018 Forum was made during […]

Oil Uncertainty To Persist – Goldman Sachs And Morgan Lay Statistics

Oil Uncertainty To Persist – Goldman Sachs And Morgan Lay Statistics

Oil’s gains risk being quelled by uncertainty over how the OPEC+ coalition will implement its deal to cut output, according to Goldman Sachs Group Inc. and Morgan Stanley.  While producers including Saudi Arabia and Russia defied market expectations as well as U.S. President Donald Trump late last week to pledge 1.2 million barrels a day of curbs, the lack […]

S. Africa’s Economy Emerges From First Recession In Decade

S. Africa’s Economy Emerges From First Recession In Decade

South Africa emerged from its first recession in almost a decade in the third quarter as recoveries in manufacturing and agriculture contributed to an increase in economic growth.  Gross domestic product rose by an annualized 2.2 percent in the three months through September compared with a revised 0.4 percent contraction in the prior quarter, Statistics […]

Qatar To Leave OPEC As Politics Rupture Cartel

Qatar To Leave OPEC As Politics Rupture Cartel

Qatar said it will leave OPEC next month, a rare example of the toxic politics of the Middle East rupturing a group that had held together for decades through war and sanctions.  Qatar, a member since 1961, is leaving to focus on its liquefied natural gas production, Energy Minister Saad Sherida Al-Kaabi told a news […]

Oil Skids To Worst Loss In 10 Years As Market Waits On OPEC+ Cut

Oil Skids To Worst Loss In 10 Years As Market Waits On OPEC+ Cut

Oil closed out its worst month since the global financial crisis a decade ago, as all eyes turned to this weekend’s G-20 summit for signs that Saudi Arabia and Russia can head off a worldwide supply glut.  Crude futures made up some ground Friday after an OPEC advisory committee recommended a 1.3 million cut to the cartel’s […]

Nigeria’s Economy Is Bleak, Says World Bank

Nigeria’s Economy Is Bleak, Says World Bank

The World Bank has said that Nigeria’s Gross Domestic Product (GDP) growth is expected to hover slightly below two per cent in 2018, largely driven by non-oil industry and services. Its “Economic Update” issued in Abuja yesterday indicates that Nigeria, like many other countries, has underinvested in human capital and remains very low compared to […]

Saudi Money, Khashoggi, The Downturn Of Investments

Saudi Money, Khashoggi, The Downturn Of Investments

The murder of Saudi columnist Jamal Khashoggi last month has soured the world’s politicians on the once-feted Crown Prince Mohammed Bin Salman. Private capital turned against him long before that.  Ever since dozens of royals and business chiefs were detained in November 2017 as part of a declared crackdown on corruption, a growing number of […]