Hike in cement price will compound housing deficit – dealers

Cement. Price hits rooftop Two cement dealers in Umuahia have expressed concern over Monday’s sharp increase in the retail price of cement, saying that it would compound the housing deficit in the country, if not checked. Speaking on the development in separate interviews with the News Agency of Nigeria (NAN) in Umuahia on Friday, they…

Smartphone Giant Samsung Recall Its Flagship Product

Smartphone giants Samsung, has recalled its flagship product, Galaxy Note 7. The device was recalled due to fire-prone batteries which was reported to have caught fire while charging. According to Reuters report, the head of the South Korean company’s smartphone business, Koh Dong-jin, spoke at a news conference, where he expressed regret at the recall,…

INNOSON Motors idle as dollar crisis bites

* Nigerian factories starved of imports * Vehicle plant halted for lack of engines * Africa’s largest economy in first recession since 1991 * GDP contracts by 2.06 percent in second quarter By Ulf Laessing At a factory in southeast Nigeria, dozens of new white buses stand at the end of the production line, apparently…

MTN targets $1bn from Initial Public Offering

Johnson Okanlawon WITH AGENCY REPORT MTN Group Limited, the Africa’s biggest wireless operator by sales, and minority shareholders in its Nigerian business are seeking to raise about $1 billion in an initial public offering. The phone operator had agreed to list its shares in Nigeria as part of a deal to pay a N330 billion ($1 billion) fine in cash to the Nigerian government for missing a deadline…

BRANDS & De-marketing

The key components of a brand are product (offer), name and promise. It is interesting to note that all that takes place around brands in whatever name revolves around these three components.  So, there is the offer or product, the name for reasons of identification and differentiation, and the promise, that establishes the reason(s)-why for…

FG Raises N213bn In Treasury Bills

The federal government on Thursday raised N212.85 billion ($654.92 million) in an auction of treasury bills on Wednesday, with yields little changed from previous sales, data from the Debt Management Office (DMO) has revealed. The DMO raised N45.85 billion of three-month paper at 14.38 per cent, down from 14.99 per cent in mid-August; N62 billion…

U.S. pending home sales jump in July

WASHINGTON (Reuters) – Contracts to buy previously owned U.S. homes surged in July after two straight months of declines as demand rose almost across the board, suggesting the housing market remains on solid ground despite last month’s drop in home resales.