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Mastercard forecasts 6% rise in Nigeria's diaspora remittance
Business

Mastercard profit falls as expenses increase

The multinational financial service provider, Mastercard experienced a decline in profit during the first quarter due to increased personnel costs, despite a surge in customer transaction volumes. Mastercard’s profit dropped by 7 per cent to $2.4 billion or $2.47 per share from $2.6 billion or $2.68 per share in 2022, although the net revenue rose […]

Osinbajo attends 5th business environment awards
Conferences

PHOTOS: Osinbajo attends 5th business environment awards

The Vice President, Yemi Osinbajo, SAN attended the 5th Presidential Enabling Business Environment Council Awards as the special guest of honour and keynote speaker.   The award ceremony held at the State House Presidential Banquet Centre, Abuja, on Wednesday night. PEBEC was set up in July 2016 by the President, Major General Muhammadu Buhari (retd.), […]

NGX Group becomes first to bag EDGE certification
Business

NGX Group becomes first to bag EDGE certification

    By Christian George The Nigerian Exchange Group Plc, better known as NGX has reportedly bagged Economic Dividends for Gender Equality certification. NGX has now become the first exchange group globally and the first indigenous Nigerian organisation to be EDGE certified. According to a report by BusinessDay, the exchange company was certified at the […]

FG reaffirms commitment to rubber tyre industry
Business

FG reaffirms commitment to rubber tyre industry

  By Christian George The Federal Government has restated its commitment to revive the rubber industry in Nigeria. This was made known by the Permanent Secretary of the Federal Ministry of Agriculture and Rural Development, Dr Ernest Umakhihe on Wednesday in Abuja. According to a report by PMNews, the permanent secretary said that the federal […]

Samsung issues update for Galaxy users' security
Business

Samsung electronics’ profit hits lowest in 14 years

The global electronic giant, Samsung recorded its lowest quarterly profits in 14 years, citing slow consumer spending on electronics and an oversupply of microchips worldwide that affected its core memory business. Agence France-Presse reported that the company, a major producer of smartphones and memory chips globally, announced that its operating profit dropped by 640 billion […]

NAHCO pre-tax profit rose by 315% in one year
Business

NAHCO pre-tax profit rose by 315% in one year

Nigerian Aviation Handling Company Plc has announced that its pre-tax profit increased by 315.1 per cent in 2022 due to strong sales income and increased efficiency across the business. In a statement accessed by The Punch, the board recommended a dividend payout increase of 251 per cent, from N665.93m in 2021 to N2.34bn in 2022. […]

Kogi residents lament scarcity of new naira note
Business featured

Naira scarcity crippled Nigeria economy – UN

The United Nations has revealed that the Nigerian economy has been crippled by the shortage of naira in recent times especially the informal sector. This was revealed in its ‘Trade and Development Report Update; Global Trends and Prospects (April 2023),’ report produced by the United Nations Conference on Trade and Development. The UN disclosed that […]

Business

Nigerian institute invests in renewable energy training

The National Power Training Institute of Nigeria has announced that it has made investments in the renewable energy sector by providing extensive training to create an efficient workforce for the power sector. According to The Punch, the announcement was made during an alumni seminar held in Lagos on Wednesday with the theme ‘Continuous Professional Development: […]

Oando Logo
Business

Oando receives electric buses for Lagos transportation 

Oando Clean Energy Limited, which is a division of Oando Plc, has received a fleet of electric buses intended for transportation in Lagos State. According to The Punch, the company released an official statement regarding this matter on Tuesday evening. Oando Clean Energy Limited in 2022 signed a Memorandum of Understanding with the Lagos Metropolitan […]

Business

Reckitt Benckiser appoints Kris Licht new CEO

The Dettol producer, Reckitt Benckiser has appointed Kris Licht as its CEO designate to take over from Nicandro Durante, who will step down from his position by the end of the year. Licht, who is currently employed by the company, has been serving as the president of the health business and the chief customer officer […]

Microsoft proposes relocation of Chinese staff over US-China tensions
Business

Microsoft launches first data center in Poland

Microsoft on Wednesday announced the opening of its latest reliable cloud region in Poland, which is the first of its kind in Central and Eastern Europe. This was disclosed in a statement titled “Microsoft launches its first datacenter region in Poland, bringing new opportunities to develop the digital economy” on the company’s website According to […]

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