Business

A grim picture emerged Thursday of a U.S. economy that endured a record-shattering plunge last quarter and is now struggling to rebound as the coronavirus keeps forcing more layoffs. The economy shrank at a dizzying 32.9% annual rate in the...

BEVERLY HILLS, July 22, (THEWILL) - The Central Bank of Nigeria (CBN) has announced a N50 billion special mechanism funds to revive the ailing textiles industry. The funds to be administered by the Bank of industry (BoI) at 4.5 per cent...

BEVERLY HILLS, July 21, (THEWILL) - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced its decision to retain the monetary policy rate (MPR) at 12.5 percent. Godwin Emefiele, governor of the apex bank, announced...

The central bank said last week it will work towards the gradual unification of exchange rates across all forex windows. It has operated a multiple rate regime which it has used to mask pressure on the naira and to...

BEVERLY HILLS, June 25, (THEWILL) - Sovereign Ratings Director at Fitch, Mahmoud Harb, has warned that a sharp rise in Nigeria’s sovereign debt and a ballooning financing gap could trigger a rating downgrade. The global ratings agency had downgraded Nigeria...

BEVERLY HILLS, May 20, (THEWILL) - The US Senate has passed a bill that could block some Chinese companies from selling shares on American stock exchanges as it would require overseas firms to follow US standards for audits and...

SAN FRANCISCO, May 13, (THEWILL) - Since its establishment in 1894, FirstBank has consistently built relationships with her customers, focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and effective leadership. These, amongst others, are...

BEVERLY HILLS, May 13, (THEWILL) - The Nigeria LNG, on Wednesday, signed the engineering, procurement, and construction (EPC) contract for Train 7 with the SCD Joint Venture Consortium with Saipem, Chiyoda, and Daewoo, as it plans a major expansion...

SAN FRANCISCO, May 06, (THEWILL) - The Federal Government has revised its earlier forecast of 2.9% growth for the nation’s economy saying rather, the economy will contract by 3.4%. Reuters quoted the Director-General of the Budget Office, Ben Akabueze, as...

BEVERLY HILLS, May 04, (THEWILL) - Despite the current crisis in the petroleum sector occasioned by a slide in crude oil prices, industry experts and policy analysts foresee that there will be stabilisation of crude oil price. They however warn...