US e-commerce giant Amazon has won a major legal victory in India as the country’s top court blocks a $3.4bn deal struck by domestic rival Reliance. Amazon, Walmart-backed Flipkart and Reliance, owned by Asia’s richest man Mukesh Ambani, are locked in a titanic battle to dominate online retail in the country of 1.3 billion people….
Expand Global Industries Limited (EGIL), the makers of WaW and Nittol detergents hosted the Nigerian Idol Season 6 Top 11 at its office in Lagos, with a resolve to continue to support youth-oriented programmes. This, according to the company, is to support youth’s creativity towards their betterment and it is part of its long-term ambition…
The International Monetary Fund (IMF) has approved a new allocation of Special Drawing Rights (SDR) equivalent to 650 billion U.S. dollars to combat COVID-19 crisis. The allocation is the largest in the IMF’s history for the containment of COVID-19 pandemic. “This is a historic decision, the largest SDR allocation in the history of the IMF…
By Ephraims Sheyin Mr Mohammed Bello-Koko, Acting Managing Director of the Nigerian Ports Authority (NPA), has said that the massive investment that had revitalised the Nigerian Railway Corporation was a “game changer” in the maritime sector. “I must commend President Muhammadu Buhari for investing so much into reviving Railway transportation. It is really exciting that…
Dangote Sugar Refinery has posted N131.95 billion revenue in its unaudited financial results for the half year (H1) ended June 30, 2021. The Group Managing Director/CEO of the refinery, Ravindra Singhvi, made the disclosure in a statement on Sunday. The company’s revenue rose by 27.8 per cent in contrast to N103.23 billion recorded in the…
The Committee’s Chairman, Senator Theodore Orji, expressed concern over the outstanding N70.96 billion debt being owed the DisCo by its customers including Ministries, Departments and Agencies.He noted that as a business venture, such indebtedness was an impediment to its vision of providing quality supply of electricity to its customers. Orji assured the management of the…
Nigeria’s retail lender, Unity Bank Plc has declared half-year result posting gross earnings of 23.6 billion Naira, which is a 3% increase compared with the corresponding period of 2020. A review of the unaudited half year result (H1’2021) released to the Nigerian Stock Exchange, the Agric-focused lender showed notable improvement across key financial matrices. he…
In a clear demonstration of its industry leadership and consistency in providing superior financial returns, Zenith Bank Plc has announced its audited results for the half-year ended 30 June 2022, recording an astounding double-digit growth of 17% in gross earnings from N346 billion reported in H1 2021 to N405 billion in H1 2022. This is…
By Yunus Yusuf The Federal Airports Authority of Nigeria (FAAN) says the Aviation industry will need relief and financial intervention from the Federal Government to recover from the COVID-19 effect. The Managing Director, FAAN, Capt. Rabiu Yadudu, made the disclosure at the 25th Annual Conference and Awards Ceremony organised by the League of Aviation and…
