By Alex C Stock price of Shoprite, Africa’s biggest grocery firm, rose impressively after the company said it had increased turnover by 12.3 percent in the quarter to September in 2014. The stock gained 7 percent during intra-day trading on the Johannesburg Stock Exchange (JSE) on Monday in what indicated that investors liked the trading update that the company had released earlier in the day. Shoprite said it had achieved a 12.3 percent surge in turnover despite local market conditions remaining relatively unchanged with the South African consumers being under pressure. The company has its core business in South Africa…
Author: Pride Team
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Dear Dorothy, I am a 30-year-old mother of three children, and have been married for seven years. However Dorothy, for the past eighteen months, I have been having an affair with my brother-in-law. Our affair was quite intense during the first year and we discussed how we could be together on a permanent basis. But, in the past six months, he started creating a distance between the two of us. Recently, he threw what I consider a bombshell by informing me he wants us to stop seeing each other. He explained that he now realises he still loves his wife,…
Award winning actor cum producer has just recorded a rare feat in the movie industry as he just picked a brand new 2015 Range Rover Sport worth over N15million. We confirmed that the expensive car just arrived the shore of the country. And has become the talk of town few hours ago. We were privileged to have a chat with the talented act on Tuesday, October 28,2014 and he confirmed the tale. ” Yes I just got the car. Its a product of hardwork. It shows hardwork pays” Top actor cum producer,Elvis Chuks is one of the Nollywood acts who…
By Alex C FCMB Group Plc, which bought over bailed-out FinBank Plc in 2011 following a debt crisis in 2009, has suspended a planned Eurobond sale, and instead opted to borrow funds from a group of banks. FCMB borrowed $300 million from international lenders at an average interest rate of 4 percent, “below the Eurobond’s rate,” the bank said in a statement. The bank is planning to raise 30 billion Naira ($182 million) through a sale of seven-year bonds to strengthen its capital base and expand assets. The Central Bank of Nigeria notified lenders in August 2014 they could no…
The Central Bank of Nigeria (CBN) has cut the limit on banks’ foreign currency borrowings to 75 percent of shareholders’ funds from 200 percent, according to a central bank circular today. The regulation replaces a 2001 rule capping foreign borrowings, including Eurobonds, at 200 percent of shareholders’ funds as Nigeria tries to manage exchange rate risks and curb pressures on the naira from excess demand for dollars. According to the circular, “The central bank of Nigeria has noted with concern the growth in foreign currency borrowings of banks through foreign lines of credit and issuance of foreign currency denominated bonds…
By Alex C The Federal government is expected to gain $1.3 billion from cocoa exports in 2014, a 45 percent rise, as steady rise in output could aid shift Nigeria, Africa’s biggest economy away from its over dependence on the monolithic product. Minister of Agriculture Dr. Akinwumi Adesina at a cocoa summit in Abuja disclosed that the world’s fourth biggest cocoa producer was billed to produce 370,000 tonnes in 2014 from its 14 major producing areas, up from the 250,000 tonnes that earned it $900 million in 2012.xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ…
Former Nigerian military head of state General Muhammadu Buhari (rtd.) has said that it would be unpatriotic of him to stick to his 2011 vow not to contest for the presidency again. He said his major frustration then – the lack of a mega party capable of wresting power from the PDP – has been resolved with the formation of the All Progressives Congress while at the same time the indices for the good life for Nigerians have gone from bad to worse. “I am concerned about the deterioration of the economy and security in the country, among others, and…