Australia ‘Technically’ Out Of Recession
Australian Treasurer Josh Frydenberg said on Wednesday that the country was “technically” out of recession after the nation’s economy grew by 3.3% in the third quarter. In a news conference in Canberra, Frydenberg told reporters that Australia still had a lot of lost ground to make up and the road ahead will be “bumpy” following […]
Okonjo-Iweala Named Forbes Africa Person Of The Year 2020
Nigeria’s former Finance Minister and a candidate for the office of the Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala has been named Forbes Africa Person of the Year 2020. Forbes Africa announced this on Tuesday via a post on its official handle @forbesafrica. “The 2020 #AfricanOftheYear Award honoree is…Congratulations to Dr. @NOlweala! Board Chair […]
CBN Governor:Economy May Emerge From Recession In The First Quarter Of 2021
The Central Bank of Nigeria (CBN) has predicted that the nation’s economy may emerge from recession in the first quarter of 2021. CBN Governor, Godwin Emefiele, who made the prediction on Friday during the 55th annual Bankers Dinner which held in Lagos, noted that the expected economic growth was two per cent. “With the sustained […]
Supreme Court: Shell’s Request To Vacate ₦17bn Judgement Rejected
The Supreme Court has dismissed an application filed by Shell Petroleum Development Company of Nigeria Limited seeking to set aside a January 11, 2019 judgement of the court upholding damages to the tune of N17bilion awarded against the oil company. The apex court had on January 11, 2019 upheld an earlier judgment by the Court […]
FBN Holdings Reveal Profit After Tax Of $179m In First Nine Months of 2020
FBN Holdings Plc has reported a growth of 31.7 per cent in its profit after tax (PAT) for the nine months that ended on September 30, 2020, raising the hope of investors for a robust dividend at the end of the financial year. The financial group posted PAT of N68.256 billion ($179.03MN), up from N51.747 […]
Nigeria Hits Her Worst Economic Recession In Decades
Nigeria has slid into its worst economic recession in over three decades. Following the release of the Gross domestic product (GDP) numbers by the National Bureau of Statistics on Saturday , it is an indication that the nation recorded a contraction of 3.62 percent in the third quarter of 2020. This is the second consecutive quarterly […]
Business And World Leaders Move On As Trump Fights To Reverse Election
Inside the wrought-iron fences that surround the 18-acre White House complex, the 2020 election rages on, with President Trump angrily refusing to concede. But the rest of the world — and President-elect Joseph R. Biden Jr. — is moving on. The leaders of Western Europe have called Mr. Biden, as has the president of the […]
Reps Determined To Pass ‘Satisfactory’ PIB In Six Months – Gbajabiamila
The Speaker of the House of Representatives, Femi Gbajabiamila, says members of the Green Chamber are determined to pass the Petroleum Industry Bill (PIB) within the next six months. He gave the assurance on Tuesday in Abuja when he received a delegation of the Oil Producers Trade Section (OPTS) under the Lagos State Chamber of […]
Nigerian Traders In Ghana Clamp Down
The Chairman of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa on Monday denied that Nigeria’s decision to close its borders prompted Ghanaian authorities to clamp down on Nigerian traders working in the West African nation. Hundreds of shops belonging to Nigerians have been closed in Ghana, prompting calls from some of the traders to […]
U.S. Economic Growth Hit A Quarterly Record, But A Shortfall Remains
U.S. economic output grew at the fastest pace on record last quarter as businesses began to reopen and customers returned to stores. But the economy has climbed only partway out of its pandemic-induced hole, and progress is slowing. The gross domestic product grew 7.4 per cent in the third quarter, the Commerce Department said Thursday. […]
