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Europe Top News and Analysis Nigeria

  • KINGDOM OF GBARAMATU, Nigeria, July 9- The Nigerian government's efforts to secure peace in the oil heartlands of the Niger Delta are empty promises, community leaders say, threatening a return to violence that would derail any broader recovery in the crude-dependent economy. If the Niger Delta people continue to feel Abuja is ignoring their needs, leaders say...

  • LAGOS, July 4- Guinness Nigeria on Tuesday launched a share sale to raise 39.7 billion naira from existing shareholders to help lower its financing costs after reporting its first annual loss in 30 years last year. It said it had also received the green light from the Securities and Exchange Commission and the Nigerian Stock Exchange. Last year Guinness...

  • LAGOS, July 4- Nigeria's central bank and its telecoms industry regulator have intervened to save the country's fourth largest telecoms firm from collapse after talks with local banks to renegotiate a $1.2 billion loan failed, a regulatory source said on Tuesday. As a result the company has appointed the central bank's deputy governor Joseph Nnanna as...

  • A worker walks at the Nahr Bin Umar field, Iraq.

    After a brief drop in Saudi oil exports in April and May, June crude loadings are back on the rise, according to ClipperData.

  • Ghana-based media startup OMG Digital previously participated in a Y Combinator accelator program, Tech Crunch reports.

  • ABUJA/ LAGOS, June 23- Abu Dhabi state investment fund Mubadala has pulled out of Etisalat Nigeria after the telecoms firm failed to renegotiate a $1.2 billion loan taken out four years ago with 13 Nigerian banks, the central bank said on Friday. On Tuesday, parent company United Arab Emirates' Etisalat, said it was carrying its 45- percent stake at nil value, and that...

  • Mohammed bin Salman of Saudi Arabia

    Oil prices have further to fall, says John Kilduff. But traders should watch the geopolitical situation carefully.

  • LONDON, June 19- Index provider MSCI is likely to open its emerging market benchmark to Chinese mainland-listed shares at its review on Tuesday, but investors are also expecting news on other markets such as Argentina and Saudi Arabia. It will hold conference calls with journalists at 2300 GMT and again at 0700 GMT on June 21. The 169 stocks make up 5 percent of all...

  • Nairobi, Kenya skyline

    Mark Zuckerberg is one of the Silicon Valley leaders who have invested in the continents tech ecosystem.

  • *Taxify takes on Uber in Europe, Africa; joining other up-starts globally. *Taxify will soon test model in London, biggest European market. Estonia upstart Taxify is hoping to win over drivers and take on Uber Technologies Inc, the industry leader, by offering a larger share of the profit.

  • *Taxify will soon test model in London, Uber's biggest market. TALLINN, June 16- The key to success for ride sharers is keeping drivers happy so they run the app ensuring enough cars to meet passenger demand. Estonia upstart Taxify is hoping to win over drivers and take on giant Uber by offering a larger share of the profit.

  • Men work for Iraqi Drilling Company at Rumaila oilfield in Basra, Iraq,

    OPEC's oil production jumped in May despite the exporter group agreeing last month to extend its six-month deal to cap output into 2018.

  • ABUJA, June 8- Nigeria plans to raise $1.2 billion to upgrade its oil refineries, aiming to end a reliance on oil product imports by 2019, the oil minister said on Thursday. Although Nigeria is an exporter of oil, it is mainly dependent on imports for refined products. "We are still far from signing any contract with anybody," said Minister of State for Petroleum...

  • ABUJA, June 8- Nigeria's daily domestic refining capacity is now at 6 million liters, while the country's daily consumption stands at 35 million liters, the country's oil minister said on Thursday. The Minister of State for Petroleum Resources Ibe Kachikwu gave the comments at a press briefing in the capital of Abuja. Nigeria is pushing to refurbish its decrepit...

  • A Libyan oil worker from the Libyan National oil and gas company checks an oil pipelines at the Zawiya oil installation in Zawiya, Libya.

    American oil exports are surging thanks to low prices for U.S. crude, but rising output elsewhere could rein in shipments, Matt Smith said.

  • LAGOS, May 31- For Europeans, Nokia's revamped' brick' is a throwback to a simpler, more innocent age, when phones were for speaking and reading on the train meant buying a newspaper. Although mobiles are now as common in Africa as they are in the United States or Europe, smart-phones are rarer, making up only one in three handsets in South Africa and one in four in Nigeria,...

  • ABUJA, May 31- Nigeria's cabinet approved on Wednesday a plan to set up a joint venture with pharmaceutical firm May& Baker Nigeria Plc to produce vaccines, the health minister said. The company will have an initial capital of 100 million naira. Health minister Isaac Adewole told reporters the joint venture would be based in the commercial capital Lagos with the...

  • ABUJA, May 29- Nigeria's economy is the "biggest challenge of all" for the government, the acting president said on Monday at an event to celebrate two years of the administration of President Muhammadu Buhari, whose repeated periods of medical leave have nevertheless raised concerns. The economy has contracted for five quarters in a row, data showed last week, in...

  • We've never seen an OPEC deal with such strong compliance

    Sabine Schels, head of commodities research at Bank of America Merrill Lynch, says that the market is most worried about Libyan and Nigerian oil production.

  • CNBC's Steve Sedgwick reports from OPEC's headquarters in Vienna about the group's decision to extend the current supply cut by nine months.