Business News

Thursday, 26 March 2020 05:31

Five principles for achieving personal success, happiness, courage and leadership

Rajeev Peshawaria I get interviewed a lot. Questions usually focus on leadership in the digital age, governance, corporate culture, personal success or happiness. People specifically ask about one of these areas based on their individual situation or the interest of the audience for whom they are recording. But the other day someone posed a question I’ve never been asked before: How can one achieve phenomenal success and happiness, develop courage, and be a great leader at the same time? Wow! The question was both deep and broad. How do I answer it succinctly while providing practical guidance at the same…

Wednesday, 25 March 2020 04:48

Nigeria makes brutal oil price cuts. But has it gone low enough? - Bloomberg

Nigeria opened a new front in the oil price war between some of the world’s largest OPEC+ countries, offering to sell its crude in April at unusually large discounts in an effort to undercut its rivals. Even so, traders said the West African country may not have gone cheap enough. Exports of Qua Iboe and Bonny Light crude -- two banner Nigerian grades -- will be sold in April for discounts of more than $3 a barrel to the international Dated Brent benchmark. Even in the depths of the 2008-09 recession, neither grade was sold anywhere near as cheap, but…

Tuesday, 24 March 2020 05:59

Coronavirus: Stock market investors lose N2.3tr in three weeks

Stock market investors have lost over N2.3 trillion barely three weeks after the first case of coronavirus, which is currently ravaging the whole world, was confirmed in Nigeria on January 28, 2020. Specifically, market capitalisation of listed equities, which stood at N13.657 trillion as at Friday, February 28, 2020 depreciated by N2.349 trillion to N11.308 trillion yesterday, while the All-share index which measures the performance of quoted companies closed at 21,700.98 from 26,216.46 representing 4,515.48 points or 20.8 per cent drop. Nigeria has recorded fewer confirmed cases of Covid-19, when compared to other countries, but the global pandemic’s impact on…

Tuesday, 24 March 2020 05:54

Miyetti Allah to herdsmen: Close all cattle markets, stay in the bush

National President of Miyetti Allah Kautal Hore-Fulani Socio- Cultural Association, Mr Bello Bodejo, has directed members to close down all cattle markets across the country. Bodejo said the measure became necessary in order to contain spread of the Coronavirus. He urged herdsmen to remain in the bush, where they will not have contact with people. “Let my people remain in the bush until the problem is all over; even those who are outside should join those in the bush until the situation is brought under control. They should close all cattle markets in every place in Nigeria because, in the…

Monday, 23 March 2020 05:30

CBN stops dollar sales to NNPC, insists on single exchange rate

Central Bank of Nigeria (CBN) has stopped local and international oil companies from selling dollars to Nigerian National Petroleum Corporation (NNPC). The apex bank said the move is in line with the its determination to improve foreign exchange supply to the economy as the impact of the Coronavirus (COVID-19) pandemic bites harder on the economy. The country’s foreign exchange earnings have been depleted. CBN Governor Godwin Emefiele said the new dollar remittance policy will boost local dollar collections. Breaking the news during an emergency meeting with bank chief executive officers in Lagos at the weekend, Emefiele spoke of the urgent…

Monday, 23 March 2020 05:24

MTN staff to work from home starting today

MTN Nigeria on Sunday said its team would start working from home as part of precautionary measures to stop the spread of COVID-19 Mr Funso Aina, the telcos Senior Manager, External Relations, said in a statement that from March 23, workers are expected to perform their duties from home. Aina said that the telco’s operations would continue to run at full scale with essential staff working limited hours on-site. “We also plan to announce the temporary closure of some of our stores. Those that remain open, will operate reduced hours and maintain strict and social distance measures. “The situation unfolding…

Saturday, 21 March 2020 05:53

CBN finally devalues Naira; merges multiple exchange rates

The much-vaunted devaluation of the Naira came into force on Friday despite denial by Central Bank of Nigeria (CBN) last week that same was not on the cards. The apex bank on Friday sold dollars to deposit money banks at the rate of N380 to one dollar signaling the official return of a single exchange rate regime in the country’s foreign exchange market. An official circular by Director, Trade and Exchange department of CBN, Mr Ozoemena Nnaji, said the development is part of efforts by the apex bank to establish a uniform rate between the official and the parallel market…

Saturday, 21 March 2020 05:46

How respecting others’ time results in better performance for everyone

Entrepreneurs are said to have egos. That’s a fair assessment — I don’t know a single founder who doesn’t have a need to be seen, to leave a mark on the world. But the entrepreneurs I know need something far more important than that: respect. They want people to understand how valuable their time is. The problem is that many of them fail to extend that same respect when it comes to their team members’ time. As noted in a previous Forbes article, respect is the third most important thing employees look for when seeking a new job. While that…

Friday, 20 March 2020 05:41

Many people make this silly mistake when meeting a client for the first time

To build rapport, you need an ice-breaker that's both original and relevant. Scenario: You're meeting a client, customer, or potential investor for the first time. You're ushered into his or her office. You sit down, look around, spot a knickknack, like a prominent photo, a spaceship model, or a team banner. To break the ice and build rapport, you say something like: "Wow, that's a beautiful photo." "Is that from Star Trek or Star Wars?" "Are you a big Red Sox fan?” The "talk about the knickknack" ploy makes you seem unoriginal and boring. Hundreds of others have already brought…

Thursday, 19 March 2020 05:54

FG reduces petrol price to N125 per litre

Federal government on Wednesday announced the reduction of the pump price of petrol to N125. A statement by Nigerian National Petroleum Corporation (NNPC) said the move was in compliance with the directives of Minister of State for Petroleum Resources on petrol pricing. The corporation said it has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly. “Effective 19th March 2020, NNPC Ex-Coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is reduced from N133.28/litre to N113.28/litre,” Mr Mele Kyari, NNPC Group Managing Director said. “These reductions will therefore translate to N125/litre retail pump…

More...

Thursday, 19 March 2020 05:52

Oil rises 20% as confidence buoyed by coronavirus stimulus spending

Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession. Brent crude (LCOc1) was up $2.10, or 8%, at $26.98 a barrel by 0028 GMT after tumbling 13% on Wednesday in a third day of relentless selling. U.S. oil (CLc1) gained $3.44, or 17%, to $23.81 a barrel after slumping nearly 25% in the previous session. “After a 24% crash, oil prices are firming up on some…

Thursday, 19 March 2020 05:42

94% of workers want this benefit (and most leaders are screwing it up)

In a recent Deloitte survey of 1,000 white-collar workers, 94% of respondents said they would benefit from one thing: workplace flexibility, in the form of remote work and flexible hours. They cited the top advantages of such flexibility as “less stress/improved mental health” (43%) and “better integration of work and personal life” (38%). Yet 80% also said a traditional work setting — “regular attendance at an office or working normal business hours” — was important for climbing the ladder. Another 30% said “potential consequences to their professional growth and lack of trust from leadership” would prevent them from utilizing the…

Wednesday, 18 March 2020 05:45

Nigerian banks brace for Virus, oil crash in blow to recovery - Bloomberg

Most Nigerian lenders have their oil exposure hedged at $40-$50 a barrel, which will mean they would have to make provisions if prices remain where they are, said Emmanuel Adeleke, a banking analyst at ARM Investment Managers in Lagos. He “expects flat growth in earnings for most banks this year.” What banks are saying: Zenith Bank Plc forecasts loans growth of 2% this year versus 22% in the prior year. Deposits will probably increase 2% and profit-before-tax by 4%. “We have to be conservative and cautious,” Chief Executive Officer Ebenezer Onyeagwu said on an investor conference call from Lagos last…

Wednesday, 18 March 2020 05:44

Port congestion worsens as customs halts barge operations

There are indications that vessel congestions will worsen at Lagos seaports, as Nigeria Customs Service (NCS) placed ban on the usage of barges to convey containers in and out of the ports. The adoption barges as evacuation model was earlier introduced by Nigerian Ports Authority (NPA) in order to reduce congestion at the ports. Since the introduction barges for the evacuation of cargoes, there has been temporary relief on the port access roads and reduction in the number of days spent by stranded vessels at the anchorage. Already, shipping firms are worried that the waiting period in Lagos anchorage now…

Page 173 of 188

Business News

More...

Search

Most Read

Editorial

News

Business

Politics

Opinion

Features

Strangely

Crime

Wars

SCIENCE & TECH

SPECIAL REPORTS

Sports

VIDEOS