Business

BEVERLY HILLS, July 26, (THEWILL) – The Nigeria Customs Service (NCS) has suspended three commercial banks from collecting customs duties over their noncompliance with the partnership agreement with the agency on the subject. The Public Relations Officer of the agency,...

Nigeria's gross government revenues rose in June for the second month in a row to reach 485.95 billion naira ($2.44 billion), the finance ministry said, partly due to a crackdown on official corruption. The total of 518.542 billion naira, up...

European stocks and major commodity prices fell hard on Monday as concerns over China dominated financial markets in the wake of the biggest drop in Shanghai shares in eight years. The dollar was weak ahead of the week's main set...

UBS (UBSG.VX) posted a bigger-than-expected jump in second-quarter profit on Monday and chief Sergio Ermotti said the Swiss bank had "good momentum" going into the second half of 2015. Zurich-based UBS published earnings for the three months to June 30...

Thirteen big name American companies on Monday were to announce $140 billion in low-carbon investments to lend support to a global climate change deal in Paris in December, the White House said. Companies including General Motors (GM.N), Bank of America...

The president of Mitsubishi Motors Corp (7211.T) said Japan, SouthEast Asia and Russia will become the automaker's principal production hubs after it calls time on making cars in the United States later this year because of dwindling output there. "Japan,...

The next managing director of the International Monetary Fund is likely to come from outside Europe when current leader Christine Lagarde eventually leaves, the deputy head of the Washington-based fund said in an interview broadcast on Saturday. IMF First Deputy...

Britain's Pearson (PSON.L) said on Saturday it was in talks to sell its 50 percent stake in The Economist Group, publisher of The Economist newspaper. The move comes on the heels of Pearson's sale of the Financial Times newspaper to...

The World Bank has announced the appointment of the immediate past Director-General of Nigeria’s Securities and Exchange Commission (SEC), Mrs Arunma Oteh as a Vice President and Treasurer. According to a statement released by the bank in Washington, Mrs Oteh...

U.S. President Barack Obama said in Kenya on Saturday that African entrepreneurs could help counter violent ideologies and make the continent a hub for global growth, helping create opportunities in Africa that offset any threat from terrorism. Obama was speaking...