Plans by Nation Media to carry out Kenya’s first share buyback may be copied by other companies needing to reward shareholders as stock prices languish. The company proposed buying back up to 10% of its stock in a circular sent to shareholders on 31 May. The buyback, subject to shareholder approval, will run until 24…
A forecasted decrease in GCC sukuk, Egypt’s enticing yields, and business sectors that have thrived during the pandemic could guarantee the country an auspicious low-cost debut of the Islamic bonds. On the other hand, the sukuk could lead to a rise in utility bills. Egypt’s impending issuance of the sovereign sukuk is widely hailed as…
Chinese Premier Li Keqiang shakes hands with Nigerian President Muhammadu Buhari at the Diaoyutai State Guesthouse in Beijing, China, September 5, 2018. Parker Song/Pool via REUTERS The great internet firewall of China remains the most prominent example of state internet filtering used to control what happens online. President Muhammadu Buhari’s administration reportedly wants to take…
Nigerian banks are faced with low growth and a punitive cash reserve ratio of 27.5% at home. They are betting on the African Free Trade Zone to expand elsewhere on the continent. However, the profitability of their subsidiaries outside Nigeria is relatively average. Are they falling into an expansionary trap? A pastoral setting, an elegantly…
Manchester United have had an opening bid of £67 million ($95m) rejected for Jadon Sancho. The England international is one of Ole Gunnar Solskjaer’s top targets this summer after a deal failed to materialise for the 21-year-old last year due to a gap between the two sides over valuation. Solskjaer is still keen to strengthen…
DENMARK midfielder Christian Eriksen is “awake” in hospital after collapsing in the Euro 2020 match against Finland, said the Danish Football Association. The 29-year-old’s condition has been “stabilised”, according to tournament organisers Uefa. The game was suspended before half-time after the Inter Milan player fell to the ground and received emergency treatment on the field….
National Union of Postal and Telecommunication Employees (NUPTE) has said only the Nigeria Postal Service (NIPOST) has the right to collect stamp duty, and not the Federal Inland Revenue Service (FIRS). The union claimed the power to collect stamp duty given to FIRS is illegal. Speaking with reporters, President of NUPTE, Comrade Nehemiah Buba, said the union had…
The Labour Party at the weekend declared former banker Obiora Agbasimalo as its governorship candidate for the 2021 elections in Anambra State. The technocrat-turned-politician, who is contesting for the first in his career, was unanimously voted as the flag bearer at the party’s governorship primaries on Friday in the Nnewi area of the state. National…
By Gbenga Omokhunu Pegs pilgrims’ number at 60,000 residents NAHCON assures of prompt refund of intending pilgrims’ deposits Saudi Arabia announced yesterday that this year’s hajj pilgrimage will be limited to no more than 60,000 people, all of them from within the kingdom, due to the ongoing coronavirus pandemic. The announcement by the kingdom comes…
