Business

China's biggest lender by assets, Industrial and Commercial Bank of China, said on Wednesday it had signed an infrastructure pact worth $2 billion with the oil-rich west African nation of Equatorial Guinea. The agreement was signed on Tuesday following a...

Chinese e-commerce giant Alibaba Group Holding Ltd is freezing hiring for the rest of the year because it has grown "too quickly", Executive Chairman Jack Ma told staff. "Alibaba has really developed too quickly ... this year our entire group...

SAN FRANCISCO, April 28, (THEWILL) – About five months after it was presented by the Minister of Finance/Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, the Senate, Tuesday, passed the 2015 budget . However, the N4.493trn 2015 budget was N51bn...

BEVERLY HILLS, April 28, (THEWILL) – The Nigerian naira has failed to hold on to its strong post election gains recorded immediately President Goodluck Jonathan conceded defeat to opposition candidate General Muhammadu Buhari. The naira on Tuesday at the parallel...

Nigeria runs on oil: The government of Africa’s largest economy makes three-quarters of its revenue from crude. The question for Africa’s biggest oil producer is, how much of that money makes actually makes it into the government’s bank account, without...

An audit has found that Nigeria's state oil company overpaid the government $750m (£490m), at a time when it was accused of massive corruption. The audit followed allegations in 2013 by then-central bank chief Lamido Sanusi that the company had...

Apple Inc beat Wall Street's revenue and profit forecasts on Monday as it sold more iPhones in China than the United States for the first time, but the company gave no sales figures for its new Apple Watch. Apple's iPhone...

Ford Motor Co (F.N) on Tuesday reported a profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck and losing money in South America. The...

Deutsche Bank's co-chief executive Juergen Fitschen went on trial on Tuesday, accused of giving misleading evidence in connection with the collapse in 2002 of the Kirch media empire in a case that could prove a major distraction at a...

T-Mobile US Inc (TMUS.N) said on Tuesday its revenue grew 13.1 percent in the first quarter as the wireless company rapidly grew its subscriber base. T-Mobile revenue rose to $7.8 billion from $6.88 billion a year earlier. This beat analysts'...