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CBN Approves N500Mn Grant For Undergraduates, Graduates’ Entrepreneurship Scheme

The Central Bank of Nigeria (CBN) has initiated a scheme to support Nigerians in tertiary institutions with a N500 million grant to promote entrepreneurship and reduce unemployment. The apex bank made the disclosure in a report published on Wednesday with the title ‘Guidelines for the implementation of tertiary institutions entrepreneurship scheme’. Specifically, it stated that […]

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NRC Suspends Abuja-Kaduna Train Services Over Explosive Attack

Barely hours after the news of explosion that rocked the railway track along the Abuja-Kaduna corridor broke, the Nigeria Railway Corporation (NRC)  has announced immediate suspension of train services along the route indefinitely. The corporation’s managing director, Engr. Fidet Okhiria, who confirmed the attack, said the explosives damaged the rail tracks somewhere between Dutse and […]

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Global Minimum Tax May Reduce Bermuda’s Competitive Edge – Fitch

Fitch Ratings has predicted that the net profitability gap between Bermuda and non-Bermuda incorporated companies may narrow over time given the expected passage of the OECD-driven multilateral agreement to establish a 15% global minimum tax rate. The 15% global minimum tax rate is expected to be ratified under Pillar Two of the OECD Inclusive Framework […]

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MultiChoice To Appeal FG’s $4.4Bn Tax Claim

South African company and leading pay TV service provider in Nigeria, MultiChoice, has prepared grounds to appeal a $4.4 billion tax claim by the Federal Inland Revenue Service (FIRS). The company stated on Wednesday that its Nigerian unit had obtained clearance from a tax tribunal to proceed and institute the appeal after paying a $19.4m […]

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China’s FDI Flows Up 19.6% In 9 Months As Economy Remains Upbeat

Foreign direct investment (FDI) into the Chinese mainland rose, in actual use by 19.6 percent year on year (Y-o-Y) in the first nine months of the current year. According to the country’s Ministry of Commerce, while non-financial FDI into China totaled 859.5 billion yuan between January and September, FDI into the Chinese mainland totaled $129.3 […]

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UK Factory Orders Growth Slumps To 6-Month Low

British industrial orders growth slowed sharply in October to its weakest in six months amid rising raw materials’ prices and widespread labour shortages. The Confederation of British Industry (CBI) in its Thursday report indicated that its monthly manufacturers’ order book balance fell to +9 in October from +22 in September, its lowest since April. The […]

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Fearless Energy Drink Extending Positive Energy Through Sponsorship

Fearless energy drink, from the stables of Rite Foods, has extended its positive energy to an admirable status with the sponsorship of this year’s Felabration. The event was organized to commemorate the Late Afrobeat King, Fela Anikulapo-Kuti, who was presented a posthumous award, as Africa’s foremost talent with positive energy, a creative genius, intentionally different […]

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Credit Suisse To Pay $745Mn For Misleading Investors, FCPA Violations

Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the Securities and Exchange Commission (SEC), for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA) in a scheme involving two bond offerings and a syndicated loan that raised funds on behalf […]

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Moghalu Appointed Academic Visitor By Oxford University

Former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Chiedu Moghalu, has been appointed as an Academic Visitor by the University of Oxford, UK. A statement issued by the appointee indicated that the appointment would be for the period of the University’s Michelmas Term, spanning October to December 2021. During the period, […]

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Britain’s Inflation Drops To 3.1% In Sept Despite Fuel Price Surge

Britain’s inflation rate dropped to 3.1 percent year-on-year (Y-o-Y) in September following the artificial blip caused by year 2020’s ‘Eat Out to Help Out’ scheme dropped out of the figures. However, analysts are projecting that higher prices are still expected in the months ahead. The Office for National Statistics (ONS) reported on Wednesday that  the […]