Business

Brent crude climbed towards $100 per barrel as US sanctions and disruptions to Iranian oil exports tightened global supply concerns. Iranian crude loadings have plunged to about 260,000 barrels per day from 1.7 million bpd a year ago,...

Vertiv has agreed to acquire UtilityInnovation Group for up to $2.6 billion, expanding its ability to manage power supplies for data centres as electricity demand from artificial intelligence grows.

The development was contained in FTSE Russell’s September Index Review, following the index provider’s decision to restore Nigeria’s market classification after three years as an “Unclassified Market”.

The ASI opened at 246,019.17 points and advanced to 246,388.22 points at the close, representing a gain of 369.05 points.

Minister of Marine and Blue Economy, Adegboyega Oyetola, announced the directive on Thursday as the government moves to implement a new regulatory framework for the nation’s maritime sector.

A public announcement issued to customers on Thursday, September 3, said the outage was necessary to enable TCN’s technical team to safely execute critical work at the transmission facility.

Over the past three years, several startups that attracted investors, built customer bases and, in some cases, raised millions of dollars have shut down after running into funding, market, regulatory, operational or profitability problems.

Ruto announced the directive during an address to small-scale traders at State House in Nairobi, saying foreigners engaged in such businesses should shut them down from next week.

Dangote said the ongoing fiscal, monetary and regulatory reforms had contributed to improved macroeconomic stability, stronger investor confidence, increased industrial productivity and a more resilient business environment.

The framework comes as Nigeria continues to face a major electricity access deficit, unreliable supply and a liquidity crisis that has constrained investment across the sector.