HSBC records $8.5bn pre-tax profit in Q3
Banking giant HSBC said Tuesday that pre-tax profit in the third quarter rose 10 percent year-on-year, citing revenue growth in two of its divisions, days after the lender announced an…
Four free trade zones draw $8bn in investments – Officials
Four free trade zones have attracted a total investment of $8 billion, enhancing local economic activity and international trade relations, according to officials of the FTZs. The Lagos Free Trade…
Volkswagen plans layoffs, 10% pay cuts
Volkswagen is exploring substantial cost-cutting measures, including widespread pay cuts and layoffs, as well as potential reductions or closures of its plants in Germany, according to a statement from the…
Microsoft accuses Google of running ‘shadow campaigns’ in Europe
Microsoft publicly accused its longtime rival Google on Monday of conducting “shadow campaigns” in Europe aimed at undermining the software giant’s reputation with regulators. In a blog post, Microsoft lawyer…
FG to fund Kano-Maradi rail project with AfDB’s $350m
The Federal Government has secured $350 million from the African Development Bank to fund the Kano-Maradi rail project, connecting Kano to Maradi in Niger Republic. This was disclosed by the…
Transcorp reduces total shares by 75% to N10.2bn
Transnational Corporation Plc (Transcorp Group) has successfully completed a major share capital restructuring, reducing its total issued shares by 75%, from 40.6 billion to 10.2 billion. This consolidation, announced by…
Transcorp cuts total shares by 75% to N10.2bn
Transnational Corporation Plc stated it successfully completed a share capital reconstruction, reducing its total issued shares by 75%, from 40.6 billion to 10.2 billion shares. This move is likely aimed…
New Zealand approves work rights for migrant workers’ partners
Starting December 2, 2024, New Zealand will implement new immigration rules that will allow more partners of migrant workers to work without restrictions, aiming to address labor shortages and enhance…
IFC, CBN partner to boost local currency financing
The International Finance Corporation has partnered with the Central Bank of Nigeria to enhance local currency financing, supporting the growth of private businesses in Nigeria. This agreement, signed by IFC’s…
Leverage tech for building safety, experts urge Lagos
The Building Collapse Prevention Guild has urged the Lagos State Government to utilize technology for monitoring building performance and preventing structural failures. This was disclosed by the BCPG Ikeja Cell…
High production cost affecting local goods’ competitiveness – MAN
The Manufacturers Association of Nigeria has identified the high cost of production as a significant barrier to the competitiveness of locally made goods. The Director General of MAN, Segun Ajayi-Kadir,…
Lagos pledges technical support to distressed building owners, developers
The Lagos State Government has unveiled plans to assist developers and property owners in tackling the increasing problem of distressed buildings. The Commissioner for Physical Planning and Urban Development, Dr.…
