Dollar reaches three-month high as Fed's economic remark
THE dollar touched a three-month high against the currencies of major United States (U.S.) trading partners as the Federal Reserve said the economy improved while reiterating it will keep borrowing costs low for an "extended period." The euro dropped against the pound as Greece's credit rating was cut by Standard & Poor's and the European Central Bank raised its estimate for writedowns in nations using the single currency by 13 per cent. The dollar posted its biggest weekly rally since June before an economic report next week forecast to show an advance in U.S. durable goods.
Development, growth options for Nigeria, other emerging economies.
By Dozie Recently, Mr. Pascal Dozie, ex-chairman of Diamond Plc, frontline economic player in Nigeria, was elected the Co-Chairman of the prestigious Commonwealth Business Council (CBC). He spoke with ENITAR UGWU on wide ranging economic issues, especially on the role of the CBC in emerging economies such as Nigeria's. According to him, CBC's blueprint is the solution for the challenges facing emerging economies. Excerpt: WOULD you give us a brief history of the Commonwealth Business Council (CBC)?
Experts list Nigeria's aviation industry's challenges
By Wole Shadare and Chika Goodluck Ogazi EXPERTS in the aviation have identified lack of transparency, absence of legal and regulatory frameworks as challenges facing the success of concession in aviation industry. They however stated that public private partnership as encouraged by the president was the only way to develop infrastructure in the sector. Aviation Consultant, Chris Azu-Aligbe at a seminar in Lagos recently listed non involvement of relevant professionals, lack of legislative input or approval, stakeholder disregard and poor returns to government as some of the challenges.
UN tasks Nigeria on science, tech option for development
From Emeka Anuforo, Abuja THE United Nations has tasked Nigeria and other countries of the world to explore space science and technology option for development. Director General of the National Space Research and Development Agency, Dr. Seidu Mohammed, who stated this at a national media workshop in Lokoja recently, stressed that in the past five decades, the developed world through the United Nations had devoted so much time to space science and technology.
OPEC to hold quota as prices near $75
ORGANISATION of Petroleum Exporting Countries (OPEC), the producer of 40 per cent of the world's oil, will probably maintain its output quotas at next week's meeting as prices trade close to members' $75-a- barrel target, a Bloomberg News survey showed. All 36 analysts surveyed said that the Organisation of Petroleum Exporting Countries would decide for a fourth time this year to maintain its formal limit of 24.845 million barrels a day. The 12-member group meets December 22.
Cocoa farmers demand release of export grant
By Roseline Okere THE Cocoa Processors Association of Nigeria (COPAN) has called for an urgent intervention of the Federal Executive Council to obtain early release of year 2007 and 2008 Export Expansion Grant (EEG), currently stalled within the Ministry of Finance in Abuja. A statement jointly signed by the Chairman of the association, Mr. Akin Olusuyi and the Publicity Secretary, Mr. Simon Conway Jarrett stated that urgent release of the grant was vital to avoid the total collapse of the Cocoa Processors Export Manufacturing Sector, which they said had been struggling for survival for some time and could not survive much longer.
Naira remains firm, as Christmas approaches
By Tosin Fodeke FOLLOWING the Central Bank of Nigeria (CBN)'s pledge to keep the exchange rate value below N150 per dollar, the naira recently remained stable in the days running to Christmas. Tied at N147.6 per dollar at the official market, the naira maintained a stable streak, as it stayed at N147.5 all through the week. Against the Euro, the naira lost its value, losing 17 kobo to drop from N211.93 to N212.10 at the official market, while the British Pound gained 96 kobo to rise from N238.12 to N239.08.
Govt to conclude concessioning of airports by March, says minister
By Wole Shadare COME March next year, concessioning agenda for most of the nation's five airports would have been consummated, the Minister of Aviation, Babatunde Omotoba, has assured. Babatunde gave the assurance last week while fielding questions from reporters. The planned concession of Lagos, Kano, Calabar and Port-Harcourt airports had generated interest in the last few months, occasioned by confidence crisis over faithful and transparent execution of the scheme.
Postal Services Sector To Get New Regulator In 2010
THERE are indications that a new regulator for the Nigerian postal services sector will emerge in the first quarter of 2010. Already, a Postal Sector Bill, which would give a legal backing to this new regime is before the National Assembly and, when passed into law, would ensure the establishment of Postal Regulatory Commission that would supervise the activities of the sector as the present regulator, Nigerian Postal Service (NIPOST) is regarded as an operator and regulator.
Tiger Woods, Celebrities And Nigerian Brands
Celebrity endorsement emanated from the concept of celebrity branding - which itself is about attaching a celebrity (movie star, sport star, musician etc) to a brand with the intent to give the brand a positive and acceptable face and a personality. To create a personality for the brand is to project the image of a living, breathing, credible person as opposed to a lifeless and faceless entity or object. It is associating the core values and essences of the person with the intention of passing on the appreciation and acceptability of the celebrity to the brand. So, companies use celebrities to endorse or promote their brands and expect the product to be accepted and perceived just the same way as the celebrity.
'Why CBN Should Not Impose Independent Directors On Banks'
Kendis, who is the managing director of 'The Banking Group,' - a US-based banking training and data outfit - said this at this year's training programme organised by the International Finance Corporation (IFC) in Lagos.