A U.S. appeals court on Tuesday rejected Argentina’s bid to reverse a decision requiring the country and various banks to provide holdout creditors with information about the country’s assets, including military equipment and diplomatic property.
The 2nd U.S. Circuit Court of Appeals in New York affirmed the 2013 ruling, which ordered the banks and Argentina to comply with subpoenas and information requests served by bondholders suing for full payment of debts after Argentina’s $100 billion default in 2002.
Provisional data has indicated that foreign exchange inflow through the Central Bank of Nigeria (CBN) in the third quarter of 2014 amounted to $13.09 billion, representing an increase of 3.4 and 10.4 per cent above the levels in the preceding quarter and the corresponding quarter of 2013, respectively.
The development CBN said was due to increase in the non-oil component driven mainly by increases in swaps transactions and inflows through other official receipts, respectively.
Diamond Bank Plc has been commended by Pan-Atlantic University’s Enterprise Development Centre (EDC) for its unwavering support for young and upcoming entrepreneurs in the country.
Speaking at the Global Entrepreneurship Week in Lagos where the bank was recognized as a sponsor at a National Scale, Peter Bankole, Director, EDC, said that Diamond Bank, through its array of MSME-friendly products and propositions, has contributed significantly to the development of the sector in recent years, noting that the Bank’s robust initiative for MSMEs has aided a lot in stimulating employment in the country.
LEO ALIGWO, Asst. Bus. Editor
Barely few days to the end of the 2014 fiscal year, most business concerns are already stock of their performances for the period.
Among such firms is the African Alliance Insurance Plc, an indigenous life insurance firm which says it is hopeful of generating not less than N10 billion from its annuity business 2014 alone.
The company said that it has recorded improvement on the sale of its individual life policy in contrast to what was recoded in the previous years.
NECA’s Network of Entrepreneurial Women, (NNEW) has restated its resolve to promote entrepreneurship among women and youth in the country through its forthcoming summit with the theme ‘the catalyst 2014’in Lagos.
President of NNEW Lola Okanlawon had at a press conference in Lagos said “we are set to hold its maiden annual conference tagged “the Catalyst 2014’. The summit will promote and nurture entrepreneurship amongst women and will further promote entrepreneurship among women and youth in Nigeria.” She stated
UGO ALARIBE, Aba
President of Abia North Industrial Development Initiative (ANIDI), Chief Arisa Solomon Iwuagwu said that arrangements have been concluded to establish another economic hub in the state. Aba, the commercial capital of Abia State is considered the first economic hub in the state.
Iwuagwu who made this known during the inauguration of the executives of ANIDI in Aba said the organization was set up to enable businessmen and women come to Abia North to establish their businesses and also develop the infrastructure of Abia North.
Keurig Green Mountain Inc said it would recall about 7.2 million hot beverage-brewing machines that could overheat and cause injury by spraying hot liquids on users.
The affected machines are Keurig Mini Plus brewers made between December 2009 and July 2014 with the model number K10 and serial numbers starting with 31, the company said on its website.
U.S. consumer sentiment jumped in December to its highest level in nearly eight years on cheaper gasoline and better job and wage prospects, a survey released on Tuesday showed.
The Thomson Reuters/University of Michigan’s final December reading on the overall index on consumer sentiment came in at 93.6, its best showing on a final basis since January 2007 and the latest in a string of increases since August.
Sales of new U.S. single-family homes fell for a second straight month in November, a sign that the housing market recovery remains fragile.
The Commerce Department said on Tuesday that sales declined 1.6 percent to a seasonally adjusted annual rate of 438,000 units. October’s sales pace was revised down to 445,000 units from 458,000 units.
Investment bankers working on corporate takeovers and share issues can expect good news on bonuses after a buoyant year when they return from the holidays, but bond and currency traders face lower payouts.
Investment banks will finalize bonuses over the next two months and early signs are that average payouts will be relatively flat or slightly higher across most banks, although totals could drop at banks that have cut staff.