With Massive Oil Windfall, Saudi Arabia Pours $7.5bn Into US Stocks
A top member of the Organisation of Petroleum Exporting Countries (OPEC) Saudi Arabia, has through its Sovereign Wealth Fund (SWF) invested $7.5 billion in blue-chip American companies on the back of rising oil prices. Some of the 17 companies in which the country has poured the massive excess funds and taken minority stakes, include Google […]
Kwara Government Grants N1m Each To 100 Young Business Owners
Governor AbdulRahman AbdulRazaq has said that youth participation and constructive involvement are essential for a sustainable future as the Kwara State Government provided N1 million grants to 100 businesses owned by young people in the state. The N1 million grant was made possible through Kwapreneur 2.0, a project financed by the Kwara State Social Investment […]
Johnson & Johnson To Replace Talc-based Powder With Cornstarch
Johnson & Johnson (J&J) will stop making and selling its talc-based baby powder around the world from next year. The announcement comes more than two years after the healthcare giant ended sales of the product in the US. J&J faces tens of thousands of lawsuits from women who allege its talcum powder contained asbestos and […]
US Inflation Eases In July As Petrol Prices Drop
Prices in the US continued to rise rapidly last month, but a fall in petrol costs helped to ease the pace. The annual inflation rate, the pace at which prices rise, was 8.5% in July, down from June when it surged to 9.1%, the Labor Department said. Aside from energy, costs for many items, including […]
NUPRC Rejects Seplat/ExxonMobil Deal Due To PIA Provisions
The Petroleum Industry Act (PIA) 2021’s provisions served as the foundation for the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) decision that the ExxonMobil/Seplat Energy share acquisition deal should proceed as is. Recall that the NUPRC reiterated it was sticking to its position not to approve the acquisition in a response statement to President Muhammadu Buhari’s […]
Buhari Approves The Acquisition Of Exxon Mobil Shares By Seplat
The acquisition of Mobil Producing Nigeria Unlimited’s entire share capital by Seplat Energy Offshore Limited (Exxon Mobil) has received President Muhammadu Buhari’s approval. The Nigerian president approved the acquisition by using his power as the minister of petroleum resources, according to a statement issued on Monday by the Presidency and published on the microblogging platform […]
Importance Of Passive Income-David Ehihon
John Wooden says ”Don’t let making a living prevent you from making a life”. Living from pay cheque to pay cheque can’t give you the kind of life you want. In this video, we have highlighted various ways you can make a passive income and give yourself a better life. Like, share and subscribe.
Musk Countersuit Accuses Twitter Of Fraud
Elon Musk accused Twitter of fraud in a countersuit over his aborted $44 billion deal for the social media company, which he said held back necessary information and misled his team about its true user base, according to media reports. According to The Washington Post, the countersuit filed by the billionaire and Tesla CEO filed Thursday alleges […]
Soda Switch: Sprite Will No Longer Be Sold In Green Bottles
Sprite is retiring its green plastic bottles after more than 60 years. Coca-Cola said Wednesday it’s changing the packaging from green to clear plastic beginning August 1 as part of broader efforts to become more environmentally responsible. Sprite’s current plastic contains green polyethylene terephthalate (PET), an additive that can’t be recycled into new bottles, a […]
MPR: Banks Face Loss To Higher Non-performing Loans As Interest Rates Rise
Professor Uche Uwaleke, president of the Association of Capital Market Academics of Nigeria (ACMAN), has said that the number of non-performing loans (NPLs) in the Nigerian banking sector is expected to rise as a result of the increase in the Monetary Policy Rate,MPR, which in turn raises interest rates. Speaking at the bimonthly forum of […]
