Category: Business

Nigeria Court freezes 45 accounts of firms for rice smuggling

The Federal High Court in Abuja has ordered the interim freezing of 45 bank accounts belonging to three companies for alleged smuggling of rice into the country. Ruling...

Lufthansa berates cabin crew union ahead of planned strike

The management of Germany’s flag carrier Lufthansa, has described as “illegal” a planned strike by the Independent Flight Attendants Association (UFO) ....

Vodafone error sees customers receive extra charges

Vodafone has apologised after an error meant customers using the mobile network abroad were hit with roaming bills of up to £10,000. Customers said they were unable to...

“Niger Republic bans rice export to Nigeria”

Niger Republic has banned the exportation of rice to Nigeria following the closure of Nigeria’s borders. Nigeria had partially shut its borders since August 20, 2019,...

US shifts next tariff hike after China trade talks

The US has agreed to delay its next tariff hike on Chinese imports after trade talks were held for two days in Washington. The US was due to raise tariffs on some...

Lagos Court bars FIRS from enforcing VAT on goods consume in hotels

Justice Rilwanu Aikawa of the Federal High Court in Lagos has barred the  Federal Inland Revenue Services (FIRS), from enforcing VAT provisions on goods and...

Nigeria Government begins sale of savings bonds for October

The Federal Government of Nigeria has offered for subscription two-year savings bond at 11.244 per cent and three-year savings bond at 12.244 per cent per annum....

Rihanna to release ‘visual autobiography’

Barbadian singer and entrepreneur, Rihanna Fenty, is set to release a book of pictures, which will feature 1,000 images, spanning across 504 pages, from throughout her...

Cambodia lifts ban on foreigners running 10 types of small businesses

Cambodia has reversed a ban on foreigners who are self-employed in 10 categories of jobs, according to a Ministry of Labour and Vocational Training’s statement...

Green Day now has their own coffee brand

American punk rock band “Green Day”, have launched their own ‘Father of All’ coffee brand to mark the release of their upcoming album of the...

US unemployment rate falls to 50-year low of 3.5%

The US unemployment rate has fallen to a 50-year low, possibly easing recession worries after recent weak economic data. The Labor Department figures showed that the...

Profit taking persists at Nigeria Stock Exchange as market indices loses 0.84%

Activities on the nation’s bourse remained on a negative posture yesterday with the market indices dropping buy 0.84 per cent, amid sell pressure in blue chips. The...

Zimbabwe Rejects US Claim That Diamond Mine Uses Forced labour

Zimbabwe’s government has condemned the US’ decision to ban its diamonds from entering the country on the grounds that they had been produced through forced...

US granted right to impose tariffs on $7.5bn of EU exports

The World Trade Organization (WTO) has ruled in favour of the US to go-ahead to impose tariffs on $7.5bn (£6.1bn) of goods it imports from the EU. It is the latest...

Labour set for strike, Oct. 16 over Minimum wage

Organised labour has threatened to embark on a nationwide strike from Wednesday October 16, if the Federal Government fails to reconvene the meeting of the committee...

Nigeria’s Stock Market opens trading for October with 1.14% loss

Activities on the Nigerian Stock Exchange (NSE) opened yesterday for the first trading day in October with a loss of 1.14 per cent, follwoing negative sentiment by...

World Trade Organization warns of effect of trade wars on jobs and standards of living

The World Trade Organization has brought back its forecast for trade growth this year by more than half, warning the slowdown could hit living standards and jobs. It...

Kwara workers yet to receive N18,000 minimum wage – NLC

Shocking reports disclosed by the Nigeria Labour Congress (NLC), Kwara Council shows that workers in the state have never enjoyed full implementation of the N18,000...

South Africa grants Air Peace rights to operate daily flights

Oh wow! So that ‘xenophobic’ evacuation of Nigerians had a business deal to it? The Ministry of Foreign Affairs has announced that the South African...

Nigeria Stock Market indices record 0.16% loss in last day of trading in September

The Nigerian equities market recorded 0.16 per cent on the last trading day of September yesterday. Specifically, the All Share Index (ASI) dipped 44.48 points to close...