Today’s Business Day Newspaper Headlines Thursday 9th May 2019

Today’s Business Day Newspaper Headlines

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Why investments are falling in downstream sector
Thu, 09 May 2019
Except urgent steps are taken by the government to create a more enabling environment for businesses in downstream section of the oil and gas industry to thrive, investment into that sector may fizzle out completely. This would definitely compound the nation’s economic woes as many of the operators have shut down their depots while some []
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BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

Nigerian Breweries: Outlook for the brewer remains positive
Thu, 09 May 2019
Though the newly introduced Excise Duty rate of N30 per litre has been impacting on the operating profits of Nigerian Breweries Plc, the outlook for the largest brewer still remains positive. Next week Friday May 17, 2019 the shareholders of the brewing giant will converge in Lagos for its 73rd Annual General Meeting (AGM) where []
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Nigeria loses big on continued outsourcing of passport booklets
Thu, 09 May 2019
Nigeria could be losing big as Africa’s most populous country has continued to outsource the printing and production of international passport booklets for its citizens. This is despite a directive by President Muhammadu Buhari that production of passports should be domesticated. The Nigeria Immigration Service (NIS) on behalf of the Federal Government pays about N24 []
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Ease of travel within Africa is key to social-economic development ‘ Emeruwa
Thu, 09 May 2019
Lola Emeruwa is the Founder of WISH Africa, a social enterprise set up to promote a more positive image of Africa and Africans around the world, in particular to generate both intra-African and intercontinental trade and commerce. In this interview with IFEOMA OKEKE, she speaks on how to how to promote Nigeria through travel and []
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Wasteful foreign jaunts by PMB and PDP governors
Thu, 09 May 2019
Does the Secretariat of the PDP Governors Forum know of the existence of these facilities in Nigeria’ The Obudu Mountain Resort, Le Meridien Ibom Hotel and Golf Resort, Yankari National Park, Whispering Palms Beach Resort and the Tinapa Resort. Do they know of the Nike Lake Resort, Ikogosi Warm Spring Resort and La Campagne Tropicana []
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FG loses case of illegal oil export claims against Eni, Petrobras
Thu, 09 May 2019
A Federal High Court sitting in Lagos on Wednesday dismissed allegations of illegal exportation of crude oil to the United States made by Nigeria’s Attorney-General (AGF), Abubakar Malami, against the local units of two international oil firms, Eni SpA and Petroleo Brasileiro SA. President Muhammadu Buhari’s administration, in a lawsuit filed in 2016, sued the []
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South African Airways to launch direct service to Guangzhou, China
Thu, 09 May 2019
South African Airways (SAA), one of the leading carriers on the African continent, will launch direct flights between Johannesburg and Guangzhou, China, on 18 September 2019, giving customers access to the heart of China’s export led manufacturing industries. This is yet another strategy implementation initiative aimed at enhancing SAA’s route network. ‘The decision to launch []
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Mojito, Long Island Iced Tea, others top choice of cocktails at events
Thu, 09 May 2019
Nigerian’s love for leisure and entertainment are drawing in Mojito, Long Island Iced Tea, Strawberry Daiquiri, Kiwi delight and Irish Empire as top choices for cocktails at wedding ceremonies, birthday parties and business events. A cocktail is an alcoholic drink, mixed either with one type of alcohol with juices, as soft drink and other fruits []
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Global renewable capacity flatlines in 2018: IEA
Thu, 09 May 2019
After nearly two decades of strong annual growth, renewables around the world added no more capacity in 2018 than they did in 2017, the International Energy Agency said May 6. It was the first year since 2001 that growth in renewable power capacity failed to increase year on year. At the same time, energy-related CO2 []
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Exit of Nigerian manufacturing firms necessitates policy review
Thu, 09 May 2019
The number of manufacturing companies silently shutting down or exiting Nigeria is rising by the day, underlining the need for a comprehensive review of some of the policies guiding this sector. Recently, Grif, maker of aluminium drums, exited Nigeria because the company could not get annealed cold-rolled steel which was its key raw material. The []
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Buhari seeks UN assistance on insecurity in North East
Thu, 09 May 2019
President Muhammadu Buhari Tuesday said the United Nations support would greatly assist Nigeria in reversing the negative effect of insecurity in the North East. President Buhari stated this when he played host to visiting President of the 73rd Session of the United Nations General Assembly (UNGA), Maria Espinosa Garces, at the Presidential Villa, Abuja. President []
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Shrinking Lake Chad is major climate change disaster in Africa ‘ UNGA President
Thu, 09 May 2019
President of the 73rd United Nations General Assembly (UNGA), Mara Espinosa-Garcs, has described the shrinking of the Lake Chad as one of the major climate change disasters in Africa, which has contributed to the crises ravaging the continent. Espinosa-Garcs said this while making her remarks during at a joint news conference with the Foreign Affairs []
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Investors lose additional N49bn as sell pressure persists on Nigerian Bourse
Thu, 09 May 2019
Sell pressure witnessed at the Nigerian Stock Exchange (NSE) continued on Wednesday May 8, 2019 leading to equities eroding approximately N49billion in value. The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased further by 0.45percent on the review trading day, while the Year-to-Date (ytd) return stood further low at 7.84percent. The stock market recorded []
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FG, stakeholders’ partnership key to growing Nigeria’s forex market ‘ experts
Thu, 09 May 2019
Experts in forex market and fund managers say cooperation between the Federal Government and industry players is essential to growing Nigeria’s forex market. Emmanuel Stanno, a fund manager, assures that the partnership would be paramount, as programmes could be developed to impart knowledge, especially into the young ones, adding that this could help stem cyber []
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Nigerian investors worse-off as equity market moves inversely against peers
Thu, 09 May 2019
While other emerging markets have returned positively to respective investors of their exchanges, investors in the Nigerian equity market have seen their value erode aggregately by 7 percent since the start of 2019. The Nigerian bourse seems to be only notable exchange in emerging market space with negative year-to-date return, even as it underperformed average []
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Regency Allied, UACN, CAP, Caverton offer highest dividend yields
Thu, 09 May 2019
If you were thinking of buying a stock this month and you are a dividend investor, there are a few top dividend-yielding stocks where the ex-dividend date hasn’t yet elapsed. Ex-dividend describes a stock that is trading without the value of the next dividend payment. The ex-dividend date or ex-date is the day the stock []
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