NIGERIA NEWSPAPERS: TODAY’S BUSINESSDAY NEWSPAPER HEADLINES [19 JULY, 2018].

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Road to ‘Nigeria Air’ littered with skeletons of failed past efforts
Thu, 19 Jul 2018
The federal government yesterday unveiled Nigeria Air as its new national carrier at the Farnborough air show in the U.K, however historical precedents of failure suggest it will be a near impossible task to pull off. While Hadi Sirika Minister of State for Aviation, stressed that the carrier will be private sector led, history…
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BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

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Real Madrid, Barcelona top largest TV audience in LaLiga
Thu, 19 Jul 2018
Their brand name is one of the most powerful in the world of football and recent TV figures have reiterated their superiority, with it revealed that Real Madrid were last seasons most watched Spanish team. Los Blancos counted on 136.69 million viewers, trailed by their domestic rivals Barcelona, who were watched by 108.79 million.This is…
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Naira undervalued, expect soft year-end rally ‘ RenCap
Thu, 19 Jul 2018
Renaissance Capital in its recently published currency watch report (Thoughts of a Renaissance Man) stated that Naira is currently undervalued in Investors & Exporters exchange rate window. RenCap fair value estimate of the local currency is N322 to $1 versus its current spot price of N361 to $1. Despite an undervaluation of almost 11…
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Dangote Cement to sidestep threat of rising carbon prices for now
Thu, 19 Jul 2018
While American, European and Asian cement producers hold their breath to see if increased efforts to decarbonize the global economy will lead to a rise in carbon prices for the cement makers, Dangote Cement need not worry, at least for now. This is because Dangote Cement which is the biggest cement producer in Africa…
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Sovereign wealth funds show way to go for investors
Thu, 19 Jul 2018
While some investors are tempted to move their funds from the public traded securities to less volatile private investments with more lucrative return, the International Forum of Sovereign Wealth Funds (IFSW), the world’s biggest investors, think otherwise. This was disclosed in its 2017 annual review of the industry, where 61 sovereign wealth funds were…
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NSITF probe: Panel queries N62.56bn expenses
Thu, 19 Jul 2018
The Administrative Panel of Inquiry (API) set up by Chris Ngige, Minister of Labour and Employment has queried expenditure worth N62.56 billion carried out between 2011 and 2015. The panel which enquired into the financial state of the Nigeria Social Insurance Trust Fund (NSITF) and ancillary matters on the 15th February, 2017, alleged that…
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FCTA to budget N271bn for 2018
Thu, 19 Jul 2018
Federal Capital Territory Administration (FCTA) has proposed an expenditure framework of N271.532 billion for the 2018 fiscal year. Muhammad Bello, FCT minister, made this known Tuesday during a budget session with the Senate Committee on FCT in Abuja. Bello explained that, the figure showed an increase of N49.171 billion over the appropriation for 2017, which…
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ANED supports ‘Eligible Customer’ declaration in power sector
Thu, 19 Jul 2018
The Association of Electricity Distributors (ANED), says its 11 electricity distribution companies (DisCos) have no issue with the initial declaration of ‘Eligible Customer” in the nation’s power sector. The DisCos in a document signed by Sunny Oduntan, director of Research and Advocacy of ANED said they had issue as to whether the timing was right…
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GE Transportation unveils first TE33A Ukraine locos
Thu, 19 Jul 2018
GE Transportation unveiled its first nearly-completed TE33A locomotive bound for Ukrainian Railways (UZ) in Erie, United States, on June 10. The first of 30 12-cylinder 3355kW units should be transported to the Ukraine in a few weeks where the final 10% will be completed. Under the $US 1bn 15-year contract awarded by UZ in February,…
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Uber being probed for gender discrimination
Thu, 19 Jul 2018
Uber Technologies Inc. is under investigation by the U.S. Equal Employment Opportunity Commission for alleged gender discrimination on issues such as pay, according to a source familiar with the matter. The probe, which began last August, was first reported by The Wall Street Journal. As part of the probe, EEOC investigators have been interviewing former…
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London travellers gear up for Heathrow hectic trip
Thu, 19 Jul 2018
A controversial decision by British lawmakers will make Heathrow Airport the world’s biggest airport in terms of traffic, it has been reported. At the moment, the world’s largest airport is Hartsfield-Jackson Atlanta International Airport, with a capacity of 104 million. The new proposal would increase passenger capacity from 80 million to 110 million by 2030…
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Flying with children not easiest of tasks
Thu, 19 Jul 2018
Overtime, several concerns have been raised as to what extent parents realise of their responsibility to be in charge of their children throughout a flight and of what impact will the support of fellow passengers to parents traveling with their children be. In our everyday travelling experience, the following salient definitive rulings on how to…
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For every Corolla, first impressions are compelling
Thu, 19 Jul 2018
With a history dating back nearly half a century, the Toyota Corolla has been almost synonymous with the term compact car, and among the Toyota product range depending on the market including Nigeria where it is the most preferred and commonly used by corporate instiutions, this model has remained one of the most sought after…
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Sell pressure continues on Lagos Bourse
Thu, 19 Jul 2018
Nigerian stocks failed to push higher on Wednesday July 18, 2018 as more investors on Custom Street Lagos decided to exit earlier positions leading to 23 losers against 19 gainers. The persisting negative performance was largely due to record sell-offs in market’s bellwethers despite analysts’ expectation of positive trading sessions this week. ‘We expect market…
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SEC warns investors to avoid Ponzi schemes
Thu, 19 Jul 2018
Nigerias Securities and Exchange Commission (SEC) has again advised investors to desist from investing their money in investments that offer unreasonable levels of returns at little risk to investors. This warning to avoid Ponzi schemes was given by Mary Uduk, acting director general of the Securities and Exchange Commission (SEC) during a Town Hall meeting…
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Nigeria’s I&E FX Window records $30.28bn turnover in H1’18
Thu, 19 Jul 2018
In the first-half (H1) of this year, Nigeria’s Investors & Exporters (I&E) FX Window saw a turnover of $30.28billion, data at FMDQ OTC Securities Exchange showed. In June, the local currency (Naira) depreciated against the dollar at the I&E FX Window, losing 35kobo to close at $/N361.32, from $/N360.97 as at May 31, 2018. FX…
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Naira maintains gain as CBN injects $210m into FX market
Thu, 19 Jul 2018
Central Bank of Nigeria (CBN), on Tuesday, injected $210 million into the inter-bank foreign exchange (forex) market, which helped to boost liquidity and lift the value of the naira. The apex bank offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got $55…
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