Limited access to foreign currency has contributed to other businesses pulling back from Nigeria due to difficulties repatriating income. International carriers United and Iberia both stopped services to Nigeria earlier this year. Guinness Nigeria shares, which have fallen 19 percent this year, were flat at 93 naira on the Lagos bourse on Wednesday...
ABUJA/ LONDON, Oct 5- Diageo has scrapped plans to lift its stake in Guinness Nigeria due to tough market conditions there, the drinks company said on Wednesday. Limited access to foreign currency has contributed to other businesses pulling back from Nigeria, including airlines Iberia and United. Guinness Nigeria shares were flat at 93 naira on the Lagos bourse...
Two of Nigeria's 10 presidential jets have been put up for sale as part of a drive to cut costs, a spokesman for President Muhammadu Buhari said.
Iain Reid, head of European oil and gas research at Macquarie, acknowledges the symbolic value of the oil producer deal struck in Algiers, and suggests that the price of oil could rise to the mid-$50s.
One day after OPEC agreed to curb production for the first time since 2008, energy analysts are questioning the meaning of the pact.
Concessions offered by Saudi Arabia to lock down a deal to limit oil supply show Riyadh is getting pinched by its own policy, John Kilduff said.
Sept 28- Nigeria's Sahara has put on hold a planned initial public offering and bond sale that was aimed at financing more oil asset purchases until the investment prospects for oil and gas improve. A year ago Sahara was pursuing a dual listing on the London and Lagos stock exchanges and roadshowing a bond in an effort to raise more than $1 billion to buy oil and gas...
Jonny Forsyth, global drinks analyst at Mintel, discusses new areas for growth in the drinks industry.
Nigerian Oil Minister Emmanuel Ibe Kachikwu, says that an OPEC freeze is not likely, but "honesty" is the real progress at the meeting in Algeria.
Goldman Sachs and others are looking beyond this week's meeting of oil producers, and focusing on the return of crude from Iraq, Libya and Nigeria.
ABUJA, Sept 26- The African Development Bank is looking to provide a total of $4.1 billion to Nigeria over 2016 and 2017, its president said on Monday, as Africa's biggest economy seeks to bridge its budget deficit and improve weak infrastructure. He was speaking after holding talks with the finance minister, Kemi Adeosun, and Vice President Yemi Osinbajo in the...
Airbnb faces a 'buzz saw" of political opposition in some of its biggest markets. Here's how it can win the fight, says Bradely Tusk.
GENEVA, Sept 23- The view outside the office of the head of the World Health Organization dazzles, stretching across Lake Geneva to Alpine peaks. The view inside is less inspiring: dated furniture and listless pot plants dot the seventh-floor office of Margaret Chan, the WHO's director general. Understated decor suits her style.
Investors should start brushing up on astrophysics to understand why the world's economy may be approaching a cosmic conclusion, says Stephen Scott.
ABUJA, Sept 22- Nigeria has hunted down 700,000 firms that have never paid taxes as the country seeks new revenue sources to offset low oil prices that have pushed Africa's biggest economy into its first recession in more than 20 years, its tax chief said. The OPEC member slid into recession in the second quarter and militant attacks on oil facilities in its Niger...
The Wells Fargo scandal is certainly not the most egregious example of corporate misconduct we have seen in recent years, says Prof. Priyank Gandhi
Anish Kapadia, managing director at Tudor, Pickering, Holt & Co., explains why he believes there is a good chance of an OPEC deal being done in Algiers.
TUESDAY, SEPTEMBER 20 BUENOS AIRES- Sweden's Riksbank Governor Stefan Ingves will hold a speech on cash usage in Sweden and the Riksbank's role in promoting an efficient payments system at a conference arranged by the central bank of Argentina- 1145 GMT BUDAPEST- Hungarian central bank rate-setting meeting- 1200 GMT ABUJA- Central bank of Nigeria interest...
Nigeria's finance minister hinted on Monday that the country's government might opt for asset sales next year to boost the public coffers as the economy struggles.
Nigerian billionaire Aliko Dangote told CNBC that a wave of asset selling by the government could be the best way to boost Nigeria's recession-hit economy.