Business

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Finnish telecom equipment maker Nokia said on Tuesday it would collaborate with Microsoft in the open source network operating system SONiC, which is used in the data centres of some of the largest cloud-service providers. Nokia said it was...
India’s Reliance Industries owner of the world’s biggest refining complex, saw its imports of Nigerian crude oil slump to zero in the first quarter of the year, compared to 9,800 barrels per day in Q1 2019. India has remained the...
MTN Nigeria Communications Plc has raised N100 billion in its debut commercial paper (CP) issuance, making history as the largest debut issuance by any Nigerian company. MTN had planned initially to raise N50 billion under its registered N100 billion...
Treasurer Josh Frydenberg has confirmed Australia is now in a recession as the economy reels from the coronavirus pandemic. Mr Frydenberg’s confirmation came after the Australian Bureau of Statistics reported the economy shrank by 0.3% in the March quarter, on...
British aero-engine maker Rolls-Royce Holdings is considering cutting up to 15% of its workforce, as customers cut production and airlines park planes due to the coronavirus pandemic. The size of layoffs has been mentioned internally by senior management, but is...
France is to further extend a lockdown ordered to slow the spread of the coronavirus, with President Emmanuel Macron to again address the nation next week, the French presidency said Wednesday. The confinement order "will be extended" beyond its current...
Nigerian National Petroleum Corporation (NNPC) has assured Nigerians of availability of sufficient petroleum products to guarantee hitch-free celebration of Easter. The NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, gave this assurance in a press release on...
The Tax Appeal Tribunal, Lagos Zone, has ordered Ecobank Nigeria Limited to pay N1,663,500,000 to the FIRS as Company Income Tax (CIT) for the year 2016. The bank had claimed it made no taxable profit and declared losses from...
Following the call of the United States for independent probe of Akinwumi Adesina, the Board of Governors of the African Development Bank (AfDB) has bowed to US pressure and ordered an independent probe of the bank’s president. Despite the call...
The pump price of petrol could drop further by between N5 and N8 per litre, operators in the downstream oil sector have said. According to oil marketers, the crash in crude oil price warranted the recent slashes in petrol price...

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