IEA cuts oil demand forecasts
CAROLA HOYOS
The International Energy Agency
on Thursday sharply reduced its oil demand forecasts for 2008
and 2009, highlighting the deepening impact of the global
economic downturn on the demand of gasoline, especially in the
US and other developed countries.
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more
Bank PHB’s deposit base hits N714
billion
There are strong signs
that customers are increasingly finding
Bank PHB as their best
choice in banking as the
bank has announced an impressive deposit base of N714 billion
for its financial year ending June 2008.
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ECOWAS, Central Africa to
liberalise
air transport
market
Ministers of Aviation
from ECOWAS and Central Africa today agreed to liberalise the
aviation
market for both regions.
This was contained in a statement from ECOWAS Secretariat, made
available to the News Agency of Nigeria (NAN) in Abuja.
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Akwa Ibom spends over N11b on
livestock, fish
production
The Akwa Ibom State
government has committed
over N11 billion to its Accelerated Livestock
and Fish Production
Programme (ALFIPP) to
check the scarcity of livestock and fish in the state.
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L-R: Aigboje Aig-Imoukhuede,
Managing Director Access Bank; Dr. Berth Ebong, (OON), Chairman
Consolidated Discount Limited; Mr. Steve Akintoye, M.D/CEO,
Consolidated Discounts Limited and Mrs. L.Cloud-Erin, Company
Secretary, CDL, during the company’s 12th Annual General meeting
held yesterday.
US firm to invest $40m in Nigeria’s housing
.To create 8,900 jobs
VINCENT IGBINEDION
Nigeria’s comatose housing
sector is set to have another boost as a United States of
America (US) based firm Wood more Investment and Development
Nigeria Limited, a
subsidiary of Britania-U Inc, USA,
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Diaspora Nigerians swell economy by
N2trn
MARTINS AZUWIKE
It has become officially
established that Nigerians in Diaspora annually bolster the
local economy by a staggering $17 billion (N1.989 trillion).
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Tobacco production boosts FG’s
purse with N60bn
Tobacco production in
the country has yielded a revenue of over N60 billion to the
Federal Government, according to the Area Director of British
American Tobacco Company, Simon Welford.
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FG to secure six cities
Six cities Abuja, Lagos, Kano,
Ibadan, Port Harcourt
and Onitsha are to be secured with additional N5.738 billion in
order to restore investors’ confidence,
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NPAN tasks FG on economy
FUNKE ODUWOLE
Newspaper Proprietors
Association of Nigeria (NPAN) has
urged President Umaru Yar’Adua to take concrete steps at
ensuring global best practices in all sector of the
economy to save the nation’s industry.
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Over 8,000 vehicles flood ports to
beat fiscal policy
RAY UGOCHUKWU
As Christmas and New
Year draw nearer with speculations
of attendant changes in the nation’s import policies, Nigerian
importers are now flooding the country with assorted brands of
vehicles.
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Insurance industry: NNPC boss calls
for further recapitalisation
The Group Managing Director of
NNPC, Alhaji Abubakar
Yar’Adua, has suggested a
further recapitalisation in
the nation’s insurance sector
to give it an edge in underwriting oil and gas risks.
read more
Major wheat producing
countries agree on
roadmap to battle virulent fungus
Representatives of major wheat
producing countries have called for urgent coordinated
action to prevent and control the wheat stem rust disease strain
Ug99, the FAO has said. read more
Ndukwe urges govt to
use ICT to accelerate
achievement of Vision
2020
Mr Ernest Ndukwe, Executive
Vice President of Nigeriian Communication Commission (NCC), has
advised the Federal Government to use ICT platform to achieve
Vision 2020.
read more
Engen closes refinery after fire,
to import fuel
Engen Ltd., South Africa's largest fuel retailer, is
shutting down its 125,000-barrel-a-day refinery in the port of
Durban after a fire and will implement contingency plans to
import
fuel to avoid shortages.
read more |
Demand, recession hit oil prices
again
Oil prices hit a new
22-month low Thursday on reports that the world's developed
economies are in recession and that energy consumption is
evaporating.
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Enugu approves N329m for UNN water
scheme
FUNKE ODUWOLE
Enugu State government
has approved of N239 million for the rehabilitation of portable
water scheme within the University Community as part of project
to be executed
in preparation for the hosting of the Nigerian University Games
Association (NUGA) next year by the University of Nigeria,
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USAID, Canadian Red
Cross donate 676,000 treated nets
to Cross River
JUDEX OKORO, CALABAR
The fight against malaria
scourge in Cross River State
has continued to receive a
boost as United States Agency for International Development
(USAID) and the Canadian Red Cross have donated 676,000
insecticide treated mosquito nets to the...
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Daily Times
Group
acquires new press
A
new web-offset printing
machine has been installed
at the Daily Times premises
in Agidingbi, Ikeja. Manufactured by Hm Web House India and
called IMPACTA,
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