Business

A quick analysis on the year to date performance of the cement stocks thus revealed that Dangote Cement recorded 25 per cent year o date loss, closely followed by Ashaka Cement and Wapco with 14.20 per cent and 0.12 per cent recorded, respectively while CCNN recorded 13.57 per cent year to date gains.

The U.S. dollar has strengthened against most major currencies as central banks around the world ease monetary policy while the Fed is on track to tighten.

Global oversupply concerns have been spurred by factors including U.S. output levels, some recovery in Libya's production and the potential for a boost in Iran's exports should Western sanctions be lifted.

The Managing Director and Chief Executive Officer of GTB, Segun Agbaje, said the financial institution is “strengthening its position as a market leader, by deepening access to growth capital and boosting lending to critical sectors that are generators of growth.

Having a market where a few major players can unduly influence the price to suit their own short-term needs is likely to discourage the market from growing beyond its current participants.

Another source, who preferred to remain anonymous, said: “To drive activities at the port, the Federal Government is involving the private sector. There are challenges. But, with the involvement of the private sector, things may move a lot faster. The market is there. We need to put things in proper perspective so that we don’t make mistakes of the past”.

Speaking earlier, President of Pearl awards, Tayo Orekoya commended the management of the SEC on its efforts to return the market to the path of sustainable growth and development adding that the giant strides and remarkable achievements of the new management within short period of time cannot be over emphasized

THE National Automotive Council (NAC) is to strengthen its partnership with Nigerian Shippers’ Council (NSC), Nigeria Customs Service (NCS), Nigerian Ports Authority (NPA) and others government agencies in the development of a portal for all vehicles imported into the country. Speaking during a visit to the Executive Secretary of NSC in Lagos, Director General of NAC, Aminu Jalal, said the proposed vehicle portal is expected to play key role in the registration of vehicles in the country through the use of Vehicle Identification Number (VIN).

TERMINAL operators at Nigerian seaports acquired not less 1,204 cargo handling equipment between 2006 and 2014. Nigerian Ports Authority (NPA) General Manager (Compliance and Monitoring), Joshua Asanga, who disclosed this at a conference in Lagos on “The experience of compliance with concession agreement eight years after,” explained that the equipment acquisition cut across the various terminals at the nation’s six major seaports.

IN February, the Consumer Price Index (CPI), which measures inflation rose by 8.4 per cent (year-on-year), the National Bureau of Statistics (NBS) said yesterday.

AS part of strategies to improve its market share in Nigeria and other West African countries, Vitafoam Nigeria Pc has unveiled plans to consolidate investments in its subsidiaries as well as harness opportunities in the sub-region following the reduction in the spread of the Ebola virus disease.

WITH a contribution of 1.5 per cent to world’s manufacturing of value added goods, compared to other parts of the world, the African Union has stressed the need for Nigeria and other African countries to scale down the export of raw materials to developed countries.