Business Nigeria: Today's Business, Economic and Financial Headlines [04-08-2016]

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ProfRem

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Below are some of the busimess, economic and financial headlines in some selected Nigerian Dailies for today, Monday, 4 August, 2016.

Economy

- Shared Services Initiative: CBN, Banks Step Up Implementation

- BDCs Fret As Banks Fail To Sell Remittances

- Berger Paints Records 63% Drop In H1 Profit

- Stock Market Sustains 5 Days Losing Streak

- FG Backs Omatek’s Power Initiative

- LSE To Empower 1000 Firms In Africa

- Indorama plans $2.2bn investment in Eleme Petrochemicals

- Nigeria’s oil export to fall as Asian refineries undergo maintenance

Banking Sector

-
FirstBank Boosts Access To Financial Services

- FCMB, Diamond Bank Plan Fresh Capital Raising

- Heritage Bank Promotes Financial Literacy

- Fidelity grows half-year deposit to N829.9b

- Diamond Bank might raise new capital, sell some assets - CEO

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Forex


- Naira Falls to N390/$1 on Parallel Mkt, Rises on Interbank

- Forex: OPS Petitions FG Over N500bn Unpaid Local Contracts


Power, Oil and Gas

- NCC: Multiple Taxes Crippling Telecoms Industry

- Sifax Group records 25% volume decline

- Discos’ fine attracts 5% daily interest, NERC says

- Ikeja Electric offers debtor customers discount on bills

- Red Star Express Notifies Shareholders of Upcoming AGM

Insurance

- Importers, Agents Cries Over Duty Hike, Says “We Are Finished”

- Swiss Re-acquires 25% stake in Leadway Assurance

Telecommunication

- Smile Rolls out 4G Lte mobile call at lowest rates in Nigeria

- Nigeria’s Internet traffic’ll grow six-fold by 2020 — Cisco

- Code Camp Africa to teach teens how to code, create apps

- Spectranet Bags Broadband Award

- Spam Texts: Telcos Dare NCC On N360bn Illegal Deduction

- Mobile Access In Nigeria, Others Hit 60% –Report

- Yudala To Reward 100,000 Customers


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