Tag: DROPS

China’s Ant Financial Drops Moneygram Deal As US Approval Fails

Filed in Business by on January 4, 2018 0 Comments
China’s Ant Financial Drops Moneygram Deal As US Approval Fails

Ant Financial, an affiliate of Chinese internet titan Alibaba, has been forced to abandon a $1.2 billion deal to buy US remittances firm MoneyGram after failing to get approval from regulators in Washington. The decision by the Committee on Foreign Investment (CFIUS) will deal a blow to Alibaba boss Jack Ma’s push into the world’s […]

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Inflation Drops By 15% In 11 Months, Says Emefiele

Filed in Business by on December 1, 2017 0 Comments
Inflation Drops By 15% In 11 Months, Says Emefiele

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has said inflation rate declined by about 15 per cent over the past 11 months as fiscal and monetary reforms continue to impact positively on the Nigerian economy. Delivering the 47th Convocation Lecture of the University of Nigeria, Nsukka, (UNN) entitled “A Mindset for […]

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Rice Importation Drops To 21,000 MT From 644,131MT In Two Years, Says Fed Govt

Filed in News by on November 23, 2017 0 Comments
Rice Importation Drops To 21,000 MT From 644,131MT In Two Years, Says Fed Govt

The Federal Government yesterday said rice importation from Thailand had dropped from 644,131 Metric Tonnes to about 21,000 MT between September 2015 and September 2017. It said with this, Nigeria is close to achieving self-sufficiency in the production of rice, a major staple food in the country. Nigeria is targeting the production of seven million […]

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NNPC Losses Persist, Refinery Capacity Drops To 23.09%

Filed in Business by on July 23, 2017 0 Comments
NNPC Losses Persist, Refinery Capacity Drops To 23.09%

Nigeria’s refineries in Warri, Port Harcourt and Kaduna witnessed a drop in their consolidated capacity utilisation in May 2017, according to figures from the industry’s latest monthly oil and gas report. This is coming as the Nigerian National Petroleum Corporation sustained its monthly financial losses as it recorded another loss of N3.55bn in May 2017, […]

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Naira Reverses Gain, Drops To 490/Dollar

Filed in Business by on December 29, 2016 0 Comments
Naira Reverses Gain, Drops To 490/Dollar

The naira fell against the United States dollar from 485 to 490 at the parallel market on Wednesday, reversing part of the gain it had recorded against the greenback last week. The local currency, which had fallen to 495/dollar last Thursday, recorded some gains and closed at 485/dollar on Friday. Since Friday when the Christmas […]

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