Business News

Monday, 11 March 2024 04:36

5 things all good bosses have in common

Being the type of boss that people want to work for means you are less likely to have employees who quit, or who stay but aren’t engaged or productive. We write a lot about bad bosses. After all, a bad boss can ruin everything you might like about your job. But what about the good bosses? The people who support your career development, make you feel valued, are open to feedback, and who hold themselves accountable? Good bosses are out there; and chances are, if you’re reading this you might be a manager who (like me) hopes that the people…
National Bureau of Statistics (NBS) says Nigeria recorded N1.41 trillion trade deficit between October and December of 2023. On Friday, NBS made this known in its foreign trade report for the fourth quarter (Q4) of 2023. In the period under review, Nigeria’s exports totalled N12.69 trillion, and total imports N14.11 trillion — which gives a trade deficit of N1.41 trillion. A trade deficit is an economic indicator of a negative trade balance in which a nation’s imports outweigh its exports. “In the fourth quarter of 2023, Nigeria’s total trade was N26,801.95 billion. Exports were valued at N12,693.62 billion, while imports…
You don’t have to be a CEO, or even a manager, to be influential at the office. Getting your coworkers to listen to and support your ideas boils down to just three emotional intelligence techniques, says Stanford University lecturer and communication expert Matt Abrahams. They can help you show your peers and bosses that you have strong ideas, form meaningful connections across your workplace, improve your job-related skills and maybe even land you a promotion, he says. The advice is timely, Abrahams adds: Hybrid and remote work mean most entry- and mid-level Gen Z and millennial employees get less face…
Some executives disconnect from the job, while others rethink their work. Hello and welcome to Modern CEO! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning. Last month Modern CEO highlighted the topic of executive burnout, noting that 19 of the CEOs tracked in Challenger, Gray, and Christmas’s annual turnover report died on the…
Cryptocurrency giant Binance has said it will discontinue all its naira services, days after two of its officials were detained in Nigeria. The world’s biggest cryptocurrency exchange has already told its Nigerian users to either withdraw their naira deposits, trade their assets denominated in the currency or convert their naira holdings into crypto before the discontinuation comes into effect on Friday. “From 2024-03-08 08:00 (UTC), any remaining NGN balances in users’ Binance accounts will be automatically converted to USDT,” Binance said in a statement posted on its website on Tuesday. The federal government blocked access to the platform in February,…
Even if you’re not the boss’s favorite, getting into your manager’s good graces can improve your morale and productivity, and ultimately, boost your career. But it takes a lot more than being a hard worker who meets deadlines to be a standout employee. If you want a relationship that goes beyond “we get along fine,” you’ll need to connect with your boss on a personal level, say Gensler’s co-CEOs and global co-chairs Andy Cohen and Diane Hoskins, who help manage the design and architecture firm’s more than 7,000 employees across the world. Hoskins has noticed that younger employees — Gen…
Hiring the wrong person is costly on every front: money, time, energy, and the well-being of your employees. Even if you hire the right people 90% of the time, one in ten new hires being the right people can create a ton of disastrous misalignment--especially at the senior level. Brad Jacobs is a CEO and serial entrepreneur who has founded and led seven billion-dollar companies. In his book, How To Make a Few Billion Dollars, Jacobs explains the characteristics he looks for when hiring into world-class organizations, and what all leaders should look for when building their own teams. "When…
Oil prices rose on Monday after OPEC+ members agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, largely in line with market expectations. Brent futures was 28 cents, or 0.3% higher, at $83.83 a barrel at 0134 GMT, while the U.S. West Texas Intermediate (WTI) rose 20 cents, or 0.3%, to $80.17 a barrel. The output cuts by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are expected to cushion the market amid global economic concerns and rising output outside the group, with Russia's announcement surprising some analysts. Russia…
Sometimes, the ride to school for Ritu Narayan’s children arrived on time. Sometimes it didn’t. Whenever her kids’ transportation plans fell through, the longtime tech product manager at companies like eBay and Oracle had to enter crisis mode and drop everything at work. She thought of her own mother, a former teacher in India who faced the same problem decades ago — and ultimately put her career aside to raise four children. Narayan’s solution: She left her job to create Zum, an AI-backed electric school bus service that launched in 2015. It started as something of a self-funded Uber, chauffeuring…
MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion a year earlier. The losses resulted in a wipe-out of shareholders’ funds. The company attributed the losses to a massive foreign currency loss of N740 billion up from N81 billion reported in 2022. This is the company’s first-ever loss since it became a quoted company in Nigeria. According to MTN, “the loss was significantly due to operational changes to the Nigerian Foreign exchange market, including the abolishment of the segmented/parallel structure announced by CBN in June 2023.” MTN also stated…
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May 06, 2024

Banks’ lending to private sector declines N9.65trn as CBN tightens screws on liquidity

The Central Bank of Nigeria (CBN) has revealed a substantial reduction in banks' loans to…
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Atiku: Having Seyi Tinubu on the boards of companies belonging to Chagoury shows that Lagos-Calabar…

Atiku Abubakar, the People's Democratic Party (PDP) presidential candidate for 2023, has voiced strong criticism…
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Here’s when people think old age begins — and why experts think it’s starting later

New research suggests that 74 is the new 71. Our perception of when “old age”…
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A new camera can undress people almost in real time—to send a message about AI

Nuca, a new deepfake camera, is an art project that shows how artificial intelligence can…
May 05, 2024

Gunmen abduct Archbishop, 5 other clerics in Anambra

Uka Uka Osim, a leader of the Brotherhood of the Cross and Star, along with…
May 06, 2024

Here’s the latest as Israel-Hamas war enters Day 213

Truce Talks Shift to Qatar as Hamas Hits Israel Border Crossing Israel closed the Kerem…
May 01, 2024

Wellspring Consulting proposes cybersecurity investment to boost Nigeria's economy

In a bid to rescue Nigeria from its economic challenges, Wellspring Consulting advocates for significant…
April 30, 2024

Finidi George is new Head Coach for Super Eagles

Former Nigerian winger Finidi George has been appointed as the head coach of the national…

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