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Oil rebounds, not enough to erase losses

Oil rebounded on Friday but it was not enough to erase the roughly 7 percent meltdown seen on Thursday. The trade war is starting to become a top concern to global equity and commodity markets. As of mid-day, WTI was trading above $58 per barrel and Brent moved above $67, somewhat mitigating what has otherwise…

ECA pledges practical support for Angola’s economic reform

 The UN Economic Commission for Africa (ECA) has established three work streams aimed at supporting Angola on its sustainable development trajectory and macroeconomic reform agenda, following the accession to power of President João Lourenço in September 2017. A series of high-level talks with Angolan authorities culminated with discussions at the Presidential palace in which four…

W/Africa loses $2.3bn to maritime crime in 3 years

… as Nigeria, UNODC rally multi-national efforts to thwart piracy in the Gulf of Guinea The total economic cost of piracy in West Africa has been estimated as $777.1 million annually between 2015 and 2017 in addition to human costs as the Gulf of Guinea experienced an escalation of piracy, kidnapping and armed robbery at…

Fayemi meets heads of MDAs on dev’t plan

Ekiti State Governor, Dr Kayode Fayemi on Monday commenced a two-day briefing with heads of Ministries, Departments and Agencies (MDAs) in the state aimed at fine-tuning the strategic development plans of the Fayemi-led administration. The briefing, involved presentations and defence of work plans by heads of MDAs, is a follow up to the retreat organised…

‘For Sale’ sign on moving vehicles illegal – VIO

The Federal Capital Territory (FCT) Directorate of Road Traffic Services (VIO) says pasting “For Sale” sticker on moving vehicles as a way of marketing was illegal and a violation of the law. Mr Kalu Emetu, the directorate’s Public Relations Officer (PRO), who disclosed in Abuja, on Sunday, said such act was a violation of the FCT…

Middle East tensions put oil markets on edge

Oil rose on Friday morning on supply outages and Middle East tensions before trade war fears dragged prices down again. Sentiment continues to swing between fears of weak demand in the wake of the U.S.-China trade war and fears of supply outages due to conflict in the Middle East. Trump blacklists Huawei, deepening rift. On…

Senate gives Shippers’ Council one week to present details of 2018 recruitment exercise

The Senate, on Thursday, gave the Nigerian Shippers’ Council a one-week ultimatum to present the details of its 2018 recruitment exercise before it. Sen. Ahmed Sani, Chairman, Senate Committee on Marine and Transport, gave the directive when th e management of the council appeared before the committee for budget presentation in Abuja.   The resolution followed an…

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