Business News

Thursday, 29 July 2021 05:55

Cross River launches own airline

Cross River State Government has launched its airline, Cally Air, as part of efforts to boost economic activities in the state and across the country. Governor Ben Ayade on Monday welcomed the maiden flight of the airline into Margaret Ekpo International Airport in Calabar, the state capital. Addressing journalists after the reception, he explained that it was a dream the government had in 2017, occasioned by the high influx of traffic into Calabar and the monopoly of some airlines dominating the Calabar route. “Cally Air belongs to Cross River State. No loan, no facilities were obtained and it is one…
Central Bank of Nigeria says it has ended sales of forex to Bureau de Change operators, saying the parallel market has become a conduit for illicit forex flows and graft. The bank said it will also no longer process applications for BDC licences in the country. Weekly sales of foreign exchange by CBN will henceforth go directly to commercial banks, CBN governor, Godwin Emefiele, said Tuesday in a live TV broadcast after announcing that the bank has retained its benchmark policy rate. “We are concerned that BDCs have allowed themselves to be used for graft,” Emefiele said,. He said international…
Asset Management Corporation of Nigerian (AMCON) on Tuesday announced it has taken over Nicon Insurance Limited and Nigeria Reinsurance Corporation (Nigeria Re). The two companies belonging to the embattled businessman and politician, Jimoh Ibrahim, were taken over an alleged N69.4 billion debt. To enhance the smooth running, efficient and effective management of the two firms, the board and management have been changed, AMCON said. It said the take-over has been approved by National Insurance Commission. “The reason for the changes in the board and management of the two insurance firms is sequel to the takeover of the major investor’s interests…
The Biden administration on Tuesday announced a new push to expand business ties between U.S. companies and Africa, with a focus on clean energy, health, agribusiness and transportation infrastructure on the continent. U.S. industry executives welcomed the interest, but said dollar flows will lag until the administration wraps up its lengthy review of Trump administration trade measures and sets a clear policy on investments in liquefied natural gas. Dana Banks, senior director for Africa at the White House National Security Council, told a conference here the administration planned to "re-imagine" and revive Prosper Africa, an initiative launched by former-President Donald…
A new book from a negotiation expert offers strategies to take the fear out of high-stakes conversations. Over the past 20 years, I have advised many CEOs and senior executives who were selling companies, buying companies, negotiating with critical customers, and crafting partnership and supplier agreements. In all these high-stakes negotiations, I have found that fear holds people back from achieving their ideal results. These fears -- of losing the deal, having the other side walk away, securing a poor outcome, getting embroiled in conflict, or damaging the relationship -- impede both experienced and novice negotiators.In my new book, Negotiate…
The 25/5 rule is an emotionally intelligent way to avoid distraction, achieve more focus, and get more done. Tell me if the following sounds familiar: You're working on a major project. In the beginning, you're excited--you know this "thing" is going to be great. But as the months go by, the project never gets finished. In fact, it's not progressing nearly at the rate you want it to...even though you've established it as your number one (work) priority. So, why aren't you further along? The short answer: Because you keep getting distracted. Maybe it's the countless meetings that keep getting…
Prices of major legumes and cereals in Nigeria rose at an average of about 98.85 and 99.9 per cents respectively in the last one year, a PREMIUM TIMES market survey has shown. Prices of staples such as rice, beans, groundnut, soybeans, maize, sorghum, and millet were surveyed across some major markets located in different regions of the country. Prices of grains such as rice, maize, sorghum, and millet have risen by 44.4 and 117 per cents respectively. Likewise, the survey showed that prices of essential cowpeas such as beans and soybeans increased by 159.3 and 76.7 per cent, while prices…
Monday, 26 July 2021 05:35

5 traits of a great CEO

While all are important, the one you can't do without is being an A-Team builder Leaders must raise capital to operate their business. Their related questions include: How much capital does my business need? How does the amount of capital vary by stage? What are the advantages and disadvantages of raising venture capital? What do venture capitalists look for in a CEO? Last week I spent 40 minutes video-conferencing with an incoming student to Babson College's one-year MBA program. Calling in from Zimbabwe, the student -- who is currently running an IT equipment distributor -- was looking for answers to…
You're not lazy. But there's something else wrong. Bill Gates thinks you should hire lazy people. No, seriously. He famously said, “I choose a lazy person to do a hard job. Because a lazy person will find an easy way to do it.” I don’t disagree with the premise. Choosing a person who will do a job the “easy way” and solve the difficult problem in front of them can be better than putting your most ambitious team on it. The hardest way is often not the best way. In fact, in the startup world, over delivering can be just…
Oil producing nations have agreed to increase their output, with the aim of reducing prices and easing pressure on the world economy. The Opec cartel and partners such as Russia will boost supply from August after prices climbed to two-and-half-year highs during the pandemic. The move should have an impact on petrol prices at the pump, which have also rocketed. The price of Brent crude oil is up 43% this year to almost $74 a barrel. Last year, Opec and its partners cut production by a record 10 million barrels per day (bpd) amid a pandemic-induced slump in demand and…
June 26, 2025

How to ace a job interview in 90 seconds, from an Ivy League communication expert

Sophie Caldwell You only have about 90 seconds to make a strong first impression in…
June 26, 2025

Peter Obi decries ‘coordinated lawlessness’ after brother’s property is demolished in Lagos without court order

Former presidential candidate Peter Obi has condemned what he described as a brazen act of…
June 23, 2025

The reason even successful people struggle to get out of bed some days

Sometimes after a long, productive day, I only have the energy to scroll on social…
June 21, 2025

Man convicted of posing as flight attendant to fly for free 120 times

A 35-year-old American man has been found guilty of impersonating a flight attendant at least…
June 26, 2025

17 soldiers killed, dozens injured in fierce gun battles with terrorists in Niger, Kaduna

Seventeen soldiers have been confirmed dead and at least ten others injured following coordinated attacks…
June 26, 2025

Here’s the latest as Israel-Hamas war enters Day 629

Seven Israeli soldiers killed in Gaza, pressure on Netanyahu for ceasefire The Israeli military said…
June 25, 2025

Tesla robotaxi launch: Why getting from dozens to millions of self-driving cars won't be easy

Tesla (TSLA.O) finally has a robotaxi. Now comes the hard part. The electric-vehicle maker deployed…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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