Business

Singapore fines Grab, Uber $9.5m over merger

Singapore fines Grab, Uber $9.5m over merger

Business September 24, 2018 at 7:38 am 0 comments

Singapore on Monday fined ride – hailing firms Grab and Uber $ 9 . 5 million for breaking competition rules when they merged, saying the deal had increased fares and thrown up roadblocks for competitors .
Singapore – headquartered Grab agreed to

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FIRS Goes After 6,700 Billionaire Tax Defaulters

FIRS Goes After 6,700 Billionaire Tax Defaulters

Business September 10, 2018 at 6:34 pm 0 comments

The Federal Inland Revenue Service (FIRS) has identified more than 6,772 billionaires’ tax defaulters whose bank accounts have been screened.
The tax agency would soon go after the bank accounts of defaulting taxpayers who are raking in billions in Nigeria and are not paying taxes.
Mr. Tunde Fowler, FIRS Chairman,

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Insurance companies, banks to issue integrity bond to contractors

Insurance companies, banks to issue integrity bond to contractors

Business July 30, 2018 at 7:53 am 0 comments

INSURANCE companies and banks are to issue fiduciary bonds, also known as, integrity bonds to contracts for infrastructure projects, consultancy engagements and so on.
Vice-President, Yemi Osinbajo, who disclosed this at a breakfast meeting in Abuja, with the theme, ‘Rethinking Business Conduct and Practices: A Sustainable Concept to Transforming Nigeria’s

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Facebook’s value crashes by $111bn

Facebook’s value crashes by $111bn

Business July 26, 2018 at 10:04 pm 0 comments

Facebook ’ s value was down by $ 111 bn when Wall Street opened on Thursday , one of the most dramatic share price declines in history , after the social networking firm reported slowing growth in user numbers following a string of recent scandals .
If losses hold at

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Despite earning over $1trn in 50 years, Nigeria still backward -Experts

Despite earning over $1trn in 50 years, Nigeria still backward -Experts

Business July 23, 2018 at 4:06 pm 0 comments

Experts in the oil and gas sector have again lamented the continued backwardness of the country in spite of earning over $1 trillion from crude oil sales since the 1970s.
They said only about $2 billion was left in the ECA as at December 2017.
At a Roundtable on Savings

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Royal Exchange posts N13.8bn premium in 2017

Royal Exchange posts N13.8bn premium in 2017

Business July 23, 2018 at 6:39 am 0 comments

ROYAL Exchange Plc said it recorded N13.8 billion gross written premium, GWP, for the year ended December 31st 2017, representing 10.4 percent increase from N12.5 billion recorded the previous year. The company also recorded N7.1 billion net premium income for the period, while the underwriting profit stood at N7.6 billion.
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