BUSINESS NEWS UP DATE 24/08/2010
| Thursday, March 19, 2009.NIGERIA NEEDS N32 TRILLION TO IMPLEMENT VISION 2020 | |
| The Federal Government disclosed that Nigeria needs about N32 trillion for the implementation of the Vision 2020 in the next four years. The Minister of National Planning explained that N13 trillion of the projected expenditure was expected to come from the private sector, while the balance of N19 trillion would come from the federal, state and local governments. | |
| Source: The Punch | |
| NIGERIA SEEKS BIDDERS FOR POWER DISTRIBUTION COMPANIES | |
| The Bureau of Public Enterprise (BPE) is seeking bidders for 11 electricity distribution firms in deals that could unlock billions of dollars of foreign investment. This development will help in ending chronic power shortages in the country. | |
| Source: Reuters | |
| FG TO RAISE N500 BILLION FOR INFRASTRUCTURES | |
| The Federal Government is set to raise N500 billion worth of bond, staggered up to 2015 to finance critical infrastructure in the country. Proceeds of the bond will be used to finance the construction of roads and other infrastructures. | |
| Source: The Guardian | |
| US APPROVES DIRECT FLIGHTS BY NIGERIAN AIRLINES | |
| The United States’ Federal Aviation Authority has awarded Nigeria a Category One Certification. This will allow Nigerian Airlines to directly fly into the airspace of the United States of America. | |
| Source: The Punch | |
| HSBC IN TALKS FOR 70% OF NEDBANK | |
| HSBC is in talks to buy up to 70% of South Africa’s Nedbank in a potential $8-billion-plus deal. The deal if successful would give HSBC a broader gateway to the African continent. | |
| Source: Reuters | |
| GERMANY’S ECONOMY TO GROW BY 3% | |
| The German economy is poised to grow by about 3% this year, after growing at its fastest rate for more than 20 years during the April-to-June quarter. The Bundesbank Central Bank has increased its growth estimate from its original 1.9%. | |
| Source: Reuters, BBC News | |
| Daily Business News summarises key Business and Economic information. | |
