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FG Kick-Starts Steel Development, Takes Ownership Of Ajaokuta

FG Kick-Starts Steel Development, Takes Ownership Of Ajaokuta

    ….signs modified agreement with GSHL on NIOMCO The Federal Government  on Monday took a major step in its plan to revitalise the steel sector as it signed a renegotiated concession agreement with Global Steel Holdings Limited for the Nigerian Iron Ore Mining Company (NIOMCO), Itakpe. By the new agreement, Ajaokuta Steel Complex has […]

UBS Trader Jailed For UK’s Biggest Fraud Warns It Could Happen Again

UBS Trader Jailed For UK’s Biggest Fraud Warns It Could Happen Again

Kweku Adoboli, the ex-UBS trader jailed four years ago for the biggest fraud in British history, has said his crimes could be repeated as those working in the banking industry still faced the same pressure to make profits “no matter what”. Adoboli, a senior trader on the Exchange Traded Funds (ETFs) desk at UBS’s investment […]

Don’t Panic, CBN Governor Says, As Bank Shake-Out Looms

Don’t Panic, CBN Governor Says, As Bank Shake-Out Looms

Breaking the central bankers’ taboo on use of the ‘p-word’, Nigeria’s Godwin Emefiele is urging people not to panic about the banking system, saying he is on top of any trouble resulting from the worst crisis in Africa’s biggest economy for decades. For now, depositors and investors are generally giving the Central Bank of Nigeria […]

Airline Pilots Complain Of Dangerous Fatigue In Leaked Documents

Airline Pilots Complain Of Dangerous Fatigue In Leaked Documents

Airline pilots describe being pushed to the limit and warn about the impact on flight safety in a cache of leaked documents that give a unique and occasionally hair-raising insight into the aviation industry. Crews complain about fatigue and potentially dangerous schedules at a leading budget airline, which is already under pressure following a crash […]

UK Joins Greece At Bottom Of Wage Growth League

UK Joins Greece At Bottom Of Wage Growth League

Britain has suffered a bigger fall in real wages since the financial crisis than any other advanced country apart from Greece, research shows. A report by the TUC, published on Wednesday, shows that real earnings have declined more than 10% since the credit crunch began in 2007, leaving the UK equal bottom in a league […]

Dollar Buoyant Before Central Bank Meetings

Dollar Buoyant Before Central Bank Meetings

The dollar inched up against the yen and held near a four-week high against the euro on Monday ahead of meetings of the Bank of Japan and U.S. Federal Reserve which investors on balance expect to be dollar-positive. Alone among the major global central banks, the Fed has some good economic news to discuss after […]

IMF Grants Two-Year $3.5 Billion Credit Line To Morocco

IMF Grants Two-Year $3.5 Billion Credit Line To Morocco

The International Monetary Fund (IMF) has granted Morocco a two-year $3.5 billion credit line for structural reforms to prompt more rapid and inclusive economic growth, Rabat’s finance ministry said on Saturday. The Precautionary Liquidity Line (PLL) is meant for countries with relatively good economic policies that face balance of payments needs because of issues beyond […]

Africa Risks Fresh Debt Crisis As Levels Of Borrowing Rise Sharply, Warns UN

Africa Risks Fresh Debt Crisis As Levels Of Borrowing Rise Sharply, Warns UN

Although African countries need to tap new streams of funding if they hope to implement an ambitious blueprint to end inequality and poverty, they must beware borrowing too much and potentially triggering debt crises such as those experienced in the 1980s and 1990s, says the UN’s trade body. In a report assessing debt levels against […]

Are You Free Of Financial Fear?

Are You Free Of Financial Fear?

If you’re going to have an extraordinary life, you must master your emotions, that is, understand and control them. This is especially true when it comes to money. Because as many of you have learned the hard way, there are consequences when you let emotions run rampant. “The quality of your life equals the quality […]

IMF Predicts Nigeria’s Economy Will Contract By 1.8 pct In 2016

IMF Predicts Nigeria’s Economy Will Contract By 1.8 pct In 2016

Nigeria’s economy, the biggest in Africa, is likely to contract by 1.8 percent this year, the International Monetary Fund (IMF) said on Tuesday, as the country grapples with the impact of low oil prices. The sharp fall in global prices since 2014 has led to a prolonged economic crisis since the crude sales make up […]