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Finance & Investment

Standard and Poor allots UBA Plc ‘B/B’ ratings, stable outlook

STANDARD and Poor’s (S&P) an international rating agency, has assigned its ‘B’ long term and ‘B’ short term global scale counterpart credit ratings to the United Bank for Africa Plc (UBA). The rating agency noted that UBA’s market position “is supported by its good franchise in the corporate and retail …

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Medview Airline PLC pays dividends to shareholders at first AGM

BASED on the dividends approved by shareholders, Medview Airlines PLC will pay 3kobo per every 50 kobo ordinary share to its shareholders from May 19, 2017 with plans to improve on the figure at the next financial year. The airline on January 31, 2017 enlisted in the Nigeria Stock Exchange …

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Emirates Group total revenue hits $25.8billion despite poor aviation, travel returns

EMIRATES Group turnover hits $25.8 billion with a huge workforce of 105,000 for its 29th consecutive year of profit and steady business expansion, despite a turbulent year for aviation and travel. Released today in its 2016-17 Annual Report, the Emirates Group posted an AED 2.5 billion (US$ 670 million) profit …

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CBN expels 16 banks from forex market, mulls sanctions

APEX bank, Central Bank of Nigeria (CBN) yesterday stopped 16 Deposit Money Banks from participating in the Small and Medium-scale Enterprises (SMEs)window of the foreign exchange market. This is just as the CBN said all the affected 16 banks that had refused to sell forex to small businesses after accessing …

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Delta Air Lines announces $847 million March quarter profit

DELTA Air Lines has reported financial results for the March quarter 2017. Highlights of those results, including both GAAP and adjusted metrics, are below and incorporated here. Adjusted pre-tax income for the March 2017 quarter was $847 million, a $713 million decrease from the March 2016 quarter, primarily driven by …

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FAAN opens 2017 internally generated revenue contract bids

FEDERAL Airports Authority of Nigeria (FAAN) on Monday, 3rd April, 2017, began the process of evaluating bidding companies for the award of contracts under its 2017 Internally Generated Revenue Budget, by opening tendered documents in line with the provisions of the Public Procurement Act 2007. The Airports Authority on the …

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SAA encourages travel partners to explore multiple revenue generation streams

SOUTH AFRICAN AIRWAYS has harped on the importance of its travel partners to explore multiple ways of generating revenue to increase their profit base at a forum held at Federal Palace Hotel, Victoria Island, Lagos. The aim of the forum was to enlighten and educate the travel partners on how …

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Med-View Airline listed on NSE, reveals N58.5b projected revenue by 2020

MED-VIEW Airline has listed 9,750,649,400 ordinary shares of 50kobo each at N1.50kobo per share on the floor of the Nigerian Stock Exchange (NSE). This is just as the airline also stated that it is projecting  growth despite challenges in 2020 with a revenue growth forecast of N58.5billion, improving on its …

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AFSCMS records successful year, declares dividends for members

AIRPORT Fire & Safety Co-operative Multipurpose Society Limited (AFSCMS), in its 16th Annual General Meeting demonstrated a successful turnout of the 2016 Financial Year, declaring a dividend offer across board for all its members. The AGM held at Murtala Muhammed Airport Staff School in Ikeja, Lagos over the weekend, attracted …

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GTBank 2016 Q3 unaudited results reports N140.84Billion profit before tax

GUARANTY Trust Bank plc has released its unaudited financial results for the 3rd quarter ended September 30, 2016, to the Nigerian and London Stock Exchanges. A review of the 3rd quarter performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for …

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