Business

ANALYSTS from IHS Maritime & Trade have predicted continued increases in fatal accidents in both the shipping and passenger sectors largely as a result of continued expansion of the global commercial shipping fleet. Last year, there were 1,639 maritime casualty incidents reported, up 10 per cent from the 1,489 incidents reported in 2013.  IHS estimates…

THE annual United Kingdom  (UK) seafarers active at sea increased to 22,910 in 2014. The increase according to the department for transportation is the first since 2010.The total number increased by around 1,000. Detail of the statistics  also show that nearly 2,000 officer cadets were in training, the second highest level since the UK government’s…

FOR many economies, improving local production for global competitiveness is ultimately about the bottom line. In Nigeriaís case, improving this bottom line through foreign earnings accruable to the Federal Government in a period of unstable global oil prices is increasingly becoming a subject of priority. For serious economies, local incentives that will assist exporters of…

THE Bank of Industry (BoI) has expressed commitments to its mandate of providing funds to boost industrialisation efforts as it has explained the disbursement of funds to millers and master bakers under the Cassava Bread Fund as well as Rice and Cassava Mills Funds.    The Bank, in collaboration with the Federal Ministry of Agriculture…

• IPOs soar as continent’s capital markets raise $11b • Nigeria, Ghana, worst performers TANZANIA’S Dar es Salaam Stock Exchange topped the performance list for the 12 months to 31 January for USD investors, according to the data collected  excellent Investing in Africa website.    It managed a 27 per cent rise, including 3.8 per…

• Cappa and D’Alberto to trade on over-the-counter market THE equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by -0.80% to close at 29,125.69 basis points, compared with the -2.08 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 15.28 per cent.…

•Producers may record partial recovery in five years THE rebound in oil prices lost some momentum yesterady as U.S. crude traded lower for the first time in four sessions after the International Energy Agency (IEA) warned of more selloffs in the near term as stocks continue to rise.   Besides, the IEA has predicted that…

•Pledges to protect investors in bond market BASED on assessed situational factors in the economy, the Securities and Exchange Commission (SEC) has allayed fears in some quarters that states may be ill-at-ease in fulfilling their obligations under the Irrevocable Standing Payment Order (ISPO) in the bond market.    The Acting Director General of the Securities…

The World Bank Insurgency Relief Fund (WBIRF), Tuesday, disbursed N787 million to four affected farming communities in Borno State, for investments in “agricultural and livestock production” by farmers to sustain their incomes and national food security in North East sub-region of the country.   The development may have also come as a relief to the farmers as insurgency affected…

RESORT Savings and Loans Plc (RSL) has got an approval for N1.5 billion mortgages for more than 125 beneficiaries under the National Housing Fund scheme.   The Managing Director,  Abimbola Olayinka, who disclosed this in a chat with the press, described the approval as “highly indicative to other Nigerians who are yet to apply for…

A NEW technology that could effectively enhance fuel logistics in the country may soon be introduced, courtesy of an initiative by some German investors.   The German initiative is expected to compliment the current tracking system being used by the Nigerian National Petroleum Corporation (NNPC) for petroleum products’ haulage.    Speaking at a symposium in…

OPERATORS of the second terminal of Murtala Muhammed Airport (MMA2) have offered to show others how to fly high in the industry by sharing with them their expertise.     The offer comes two months after MMA2 was voted as the best terminal in Nigeria.    Speaking at a dinner to appreciate its customers and stakeholders,…