Category archives for: Business News

Facebook IPO: is a smartphone next on the agenda for Zuckerberg?

Facebook

With Facebook now sitting on $16bn after its flotation, will we see the massive social network do a Google and develop its own phone? With its flotation, many think that Facebook is now a juggernaut, sitting pretty on $16bn (£10bn) of cash and a valuation that started the day at more than $100bn. Friday’s launch [...]

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Britain in double recession whammy,… intensifying more government woes

British Economy

The British economy has fallen into its second recession since the financial crisis after a shock contraction at the start of 2012

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BAA squeezes growth from busy Heathrow hub

BAA

British airports operator BAA posted a 15 percent rise in quarterly profit on Wednesday, squeezing more growth from its busy London Heathrow hub but repeating its plea for permission to add capacity there.

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House Committee erred in its reports, says NNPC

Nigeria Nation Petroleum Corporation

The Nigerian National Petroleum Corporation has lambasted Nigeria’s House of Representative s Committee on Petroleum oil subsidy charging that the committee was out of touch with its reports.

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“Hand back your loots”.. House committee urges NNPC, others to refund One trillion Naira

House of Reps seal

The House of Representative ad-hoc Committee set-up to investigate the management of the fuel subsidy scheme has recommended that the Nigeria National Petroleum Corporation (NNPC), the Petroleum Product Pricing Regulatory Authority (PPPRA) and some oil marketers should refund over N1trillion to the nation’s treasury. The Chairman of the ad-hoc committee, Farouk Lawan laid the report [...]

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World Bank Presidency: America’s weight prevails as Okonjo-Iweala is knocked out

Ngozi Okonjo-Iweala

The Nigerian Finance Minister , Ngozi Okonjo-Iweala has reacted to her non-nomination as the President of World Bank, explaining that it is no longer an aberration that our world lives on lies and make-beliefs.

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Canadian company wins $24million power contracts

Power Generation

 Nigeria’s privatisation regulator said Manitoba Hydro of Canada (MHC) had won a $24 million power transmissioncontract, part of delayed plans to overhaul woeful electricity infrastructure. Nigerian President Goodluck Jonathan announced plans to reform the power sector 20 months ago but privatisation has been slow due to political wrangling, union disputes and government concernsover raising electricity prices. Africa’s most populous nation of more than [...]

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BRICS: The new emerging economic power pros and cons

brics-flag-

The Fourth BRICS Summit, hosted by New Delhi for the first time this year, looks like another milestone in a short, yet, impressive record of the fast-growing informal block of major emerging economies which includes Brazil, Russia, India, China and South Africa.

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Air fare: Britain, Nigeria squares up in war of economic gains

british-airways

This came as British Airways said in a statement last night that all its fares were competitive and on a sound commercial basis.

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Ngozi Okonjo-Iweala: Our Un-valued ‘prophet’ is World’s priceless asset for WB top job

Okonjo_Iweala

Ngozi Okonjo-Iweala, the Nigerian Finance Minister, will challenge the US grip on the World Bank presidency by running for American Robert Zoellick’s job, her South African counterpart announced Friday.

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